The global Medical Oxygen Concentrators market was valued at USD 1717.0 Million in 2018 and is expected to reach USD 3078.3 Million by the year 2026, at a CAGR of 7.6%. The key factors driving the growth of medical oxygen concentrators market are the increasing prevalence of Chronic Obstructive Pulmonary Disease and technological advancements. According to the WHO, there were about 251 million cases of COPD in 2016, globally, and 3.17 million deaths due to the same in 2015. The main cause of this is the high level of air pollution and the growing number of smokers. The growing awareness regarding the use of these products in order to significantly enhance the quality of life provides favorable growth opportunities for the market. In addition to this, the growing geriatric population, which is highly susceptible to chronic diseases, will also augment the demand of the product, thereby accelerating the global market.
The Medical oxygen concentrators industry is much fragmented and includes a large number of manufacturing giants and emerging players. The emerging players have a good opportunity to enter the Medical Oxygen Concentrates industry, owing to developments in the industry and high demand from end-use industries. Industry leaders are adopting strategies such as a merger, acquisitions, expansion, and partnership to maintain their position in the industry. For instance, in April 2019, Inogen, Inc. launched One G5 portable product in the US. The Inogen One G5 is superior to other portable products presently available in the US homecare market, which is designed for use within the homecare setting.
Top Companies Profiled in the Report Include:
Koninklijke Philips N.V., Invacare Corporation, Devilbiss Healthcare LLC, Nidek Medic, among others.
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Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, RD activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Medical Oxygen Concentrators market in these key regions.
Country-wise regional analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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Additionally, the report consists a detailed analysis of the segmentation of the Medical Oxygen Concentrators market based on product types and end-use/application offered in the Medical Oxygen Concentrators market.
Product (Revenue, USD Million; 2016–2026)
- Portable oxygen concentrators
- Stationary oxygen concentrators
Application (Revenue, USD Million; 2016–2026)
- Homecare
- Non-Homecare
Technology (Revenue, USD Million; 2016–2026)
- Continuous Flow
- Pulse Dose
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