Oxygen Concentrators Market by Product,Technology,Application and Region - Global Forecasts 2017 to 2027

 The global market for medical oxygen concentrators accounted for $1.1 billion in 2020, and is expected to grow $2.0 billion by 2027, registering a CAGR of 9.1% from 2021 to 2027. An oxygen concentrator is a medical device that concentrates the oxygen from a gas supply by specifically eliminating nitrogen to supply an oxygen-improved product gas stream. Two strategies in like manner use are pressure swing adsorption and membrane gas separation. Medical device companies are investing in advanced technology in order to provide quality of products like oxygen concentrators to the hospitals and public healthcare sector. These days, with the expanding of home care administrations and nonhome care services and growing transmission of Covid-19 across the globe, interest for clinical oxygen concentrator is required to keep expanding during the forecast period 2021-2027. Clinical oxygen concentrator industry will introduce a steady development space.

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According to the World Health Organization (WHO), about 300 million people suffer from asthma across the world. Thus, in order to cater their need for effective and timely oxygen therapy, the demand for medical oxygen concentrators will upsurge. Also, several governments are undertaking initiatives to improve healthcare.

This research report categorizes the oxygen concentrators market to forecasts the revenues and analyses the trends in each of the following below mentioned market segments.

Segment based on Product

• Portable Oxygen Concentrator
• Stationary Oxygen Concentrator

Portable medical oxygen concentrators represented the biggest income portion in 2020. Rapid technological development in the potable oxygen concentrator, high demand for home use, cost effectivity, and being lightweight are some of the key factors responsible for the dominance of the segment in the market.

Segment based on Technology

• Continuous Flow
• Pulse Flow

Continuous flow technology accounted for the maximum share in the oxygen concentrators market in 2020. High prevalence of chronic respiratory conditions has led to large number of emergency cases requiring continuous oxygen supply to patients. Increasing use of continuous flow concentrators during critical situations in healthcare facilities is expected to positively impact its market growth.

During emergency patient admissions and operations, there is requirement of continuous oxygen supply to the patient. With increasing demand for medical oxygen concentrators during emergencies including COVID-19 pandemic, especially for critical patients, the segment is predicted to observe unprecedented growth.

Segment based on Application

• Home Care
• Non-home Care

Non-home care which includes hospitals, ambulatory facilities, and clinics accounted for the largest share of the market. However, home care is likely to grow at the fastest rate during the forecast period. Rising adoption and spending on home healthcare devices in developed and developing countries, increasing geriatric population base which is prone to several cardiopulmonary diseases further impels the demand for homecare medical oxygen concentrators. These are some of the factors responsible for the growth of the market. Also, these home use devices are convenient and user-friendly for older people, that further boosts customer preference, thereby offering immense market growth opportunities.

Segment based of Region

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• Australia
• Singapore
• South Korea
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

In 2020, North America held the largest share of the market. High spending and disposable income of the U.S. population, expanding geriatric population pool, and changing lifestyle are some of the factors responsible for the dominance of the region. Additionally, occurrence of COVID-19 has affected more than 4 million people in the country and the number of cases is increasing at substantial rate, thereby impacting the supply of medical oxygen concentrators in the country.

Approximately 16 million people in the U.S. experience breathing issues due to chronic obstructive pulmonary disorder (COPD) as mentioned by the Centers for Disease Control and Prevention. With growing need for better management of respiration in COPD-affected population, the market will showcase momentous growth.

Local presence of market players, investment in research and development activities, and high diagnosis rate are also major drivers of the market.  

Unique insights of the report

• This report covers the complete market estimation and forecast sales of oxygen concentrators
• Report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities and challenges
• Oxygen concentrators Market report helps to identify opportunities in marketplace.
• Oxygen concentrators Market report covers extensive analysis of emerging trends and competitive landscape.

The report also provides in-depth analysis of market dynamics such as drivers, restraints, and challenges

Growing awareness and utility of oxygen concentrators for medical conditions like Covid-19 and different pulmonary diseases associated with aspiration stood to be the major driving growth factor of global oxygen concentrator market. The reason behind this is increasing spread of virus, pollution, allergies, lifestyle, lack of breathing exercise, diseases like lungs, COPD, asthma, etc.

Restraints for oxygen concentrators:

Accessibility of oxygen cylinders and concentrators cost are limiting the development of oxygen cylinder and concentrator market. The worldwide oxygen cylinder and concentrator is restrained by value instability of oxygen concentrators. The newly developing infections due to oxygen cylinders and concentrators affecting the trust of population and this will have negative impact on the market of concentrators.

Challenges for oxygen concentrators:

The challenges associated with oxygen concentrator market are its stringent regulatory landscape, high cost of the large devices, and less awareness about homecare products in developing countries.

Opportunities for oxygen concentrators:

Increase in cases of Covid-19 across globe leads to increase in demand for the oxygen concentrators. Increasing respiratory issues will give significant opportunities for the development of oxygen concentrator market. Additionally, many governments are now investing in healthcare facilities to provide better service to the patient. 

Key players in oxygen concentrators:

The major players operating in the oxygen concentrators market include Koninklijke Phillips N.V., NIDEK Medical Products, Inogen, ResMed,. Chart Industries, Inc. (AirSep) , DeVilbiss Healthcare LLC, O2 Concepts, Teijin Limited, Supera Anesthesia Innovations, and GCE Group, and Invacare Corporation among different players. Increasing distribution channel, geographical expansion, and development of innovative and cost effective products are some of the strategic initiatives adopted by industry players.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

1. Koninklijke Phillips N.V.
2. NIDEK Medical Products
3. Inogen
4. ResMed,
5. Chart Industries, Inc. (AirSep)
6. DeVilbiss Healthcare LLC
7. O2 Concepts
8. Teijin Limited
9. Supera Anesthesia Innovations
10. GCE Group
11. Invacare Corporation

 

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