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An oxygen concentrator is a device that concentrates the oxygen from a gas supply by selectively removing nitrogen to supply an oxygen-enriched product gas stream. The device can aid those whose oxygen saturation levels are between 88 and 92 by reducing the burden on the lungs. With the demand for medical oxygen continuing unabated and countries struggling to keep pace with demand, the oxygen concentrator has emerged as a sought-after device. The research report titled Global Medical Oxygen Concentrators Market Outlook, 2026 by Bonafide Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Portable, Stationary, & Oxygen Cylinders), based on technology (Continuous Flow & Pulse Flow) based on end users (Home Care & Non Home Care), based on region, countries & major companies.
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The high demand for medical oxygen concentrators is mainly attributed to infections and chronic diseases affecting the respiratory health of individuals. The major use of oxygen was prominent with the incline in the respiratory issues caused by increasing pollution, resulting in a market value of USD 1.59 Billion in 2015. With the recent COVID-19 outbreak globally, the demand for medical oxygen concentrators is set to spur exponentially. The corona pandemic was a boost for the market in disguise, which is to aid a market growth of more than 6% through the forecasted period. Adoption of medical oxygen concentrators will be high, especially in hospitals to manage respiration among critical patients.
Globally, around 300 Million people suffer from asthma as per one of the reports of the World Health Organization. This has been a major reason for the upsurge in the demand for the medical oxygen concentrator. Even though the oxygen cylinder segment is the leading product type segment, with a market share of over 47% in 2020, the portable cylinder segment is anticipated to have major growth in the coming years. Advantages such as ease of use, portability, and reduced weight, along with long battery life, miniaturization, and integration of membrane technology will spur its adoption rate to 9.56% through the forecasted period. Continuous flow medical oxygen concentrator segment size was over USD 1.78 billion in 2020. The prevalence of chronic respiratory conditions has led to a high number of emergency cases requiring continuous oxygen supply to patients. Increasing the use of continuous flow concentrators during critical situations in healthcare facilities is expected to positively impact its market growth. However, the pulse flow technology is expected to grow over an anticipated CAGR of 11.12%.
Contradicting to the common assumptions, the nonhome care segment while includes- Hospitals, Ambulatory Surgical Centers, and & Physician Offices, accounted for 46% of the market share in 2015, declining gradually since then. On the other hand, the home care segment holding over half of the market share is expected to grow at a rate of 8.44% through the forecasted period. The growing elderly population base prone to several cardiopulmonary diseases further impels the demand for homecare medical oxygen concentrators. Cardiopulmonary disorders hinder natural breathing and thus create the need for external oxygen therapy.
North America medical oxygen concentrators market accounted for the highest market share in the year 2020, along with Europe forming a market of over 60% of the market. The US led the global market with a share of 28.41% in 2020 on account of growing spending and disposable income of the population, expanding geriatric population pool, and changing lifestyle. Globally, as of June 2021, there have been 171,292,827 confirmed cases of COVID-19, including 3,687,589 deaths, thereby impacting the supply of medical oxygen concentrators.
Some of the prominent players operating in the medical oxygen concentrators market include Teijin Limited, Nidek Medical Products, Inogen, ResMed, and Invacare Corporation among other players. These market players are adopting various inorganic growth strategies to increase market share and obtain a competitive advantage. The key players are focusing on broadening their product portfolio by partnering with or acquiring smaller companies or by launching new products. For instance, In January 2019, ResMed launched the premier portable oxygen concentrator – Mobi, which offers an optimal balance of oxygen delivery, weight, and battery life so that millions of people with COPD or other chronic diseases can enjoy Res Med-quality oxygen therapy wherever they go. In the same year, Inogen, launched Inogen One G5 portable oxygen concentrator, which much superior to other portable oxygen concentrators with its highest oxygen production capacity per pound of weight, amounting to 1260 ml.
This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For this study, Bonafide Research has segmented the Global Medical Oxygen Concentrator Market report based on product, technology, end users, and region:
CONSIDERED IN THE REPORT
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026
REGIONS COVERED:
• North America
• Europe
• Asia
• Latin America
• Middle East & Africa
ASPECTS COVERED IN THE REPORT
• Market Size by Value for the period (2015-2026F)
• Market Share by Product (Portable Oxygen Concentrator, Stationary Oxygen Concentrator, & Oxygen Cylinders)
• Market Share by Technology (Continuous Flow & Pulse Flow)
• Market Share by End User (Home Care & Non-Home Care)
• Market Share by Region
• Market Share by Country
• Market Share by Company
To Access Complete Report:
https://www.bonafideresearch.com/product/210579991/global-oxygen-concentrator-market
Table of Contents
1. Executive Summary
2. Report Methodology
3. Global Medical Oxygen Concentrators Market Outlook
3.1. Market Size by Value
3.2. Market Share
3.2.1. By Product Type
3.2.2. By Technology Type
3.2.3. By End User
3.2.4. By Region
3.2.5. By Country
3.2.6. By Company
4. North America Medical Oxygen Concentrators Market Outlook
4.1. Market Size by Value
4.2. Market Share
4.2.1. By Product Type
4.2.2. By Technology Type
4.2.3. By End User
4.2.4. By Country
4.3. US Medical Oxygen Concentrators Market Outlook
4.3.1. Market Size by Value
4.3.2. Market Share
4.3.2.1. By Product Type
4.3.2.2. By Technology Type
4.3.2.3. By End User
4.4. Canada Medical Oxygen Concentrators Market Outlook
4.4.1. Market Size by Value
4.4.2. Market Share
4.4.2.1. By Product Type
4.4.2.2. By Technology Type
4.4.2.3. By End User
4.5. Mexico Medical Oxygen Concentrators Market Outlook
4.5.1. Market Size by Value
4.5.2. Market Share
4.5.2.1. By Product Type
4.5.2.2. By Technology Type
4.5.2.3. By End User
…continue
