Europe Medical Oxygen Concentrator Market Outlook, 2027
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. Oxygen concentrators are used by patients requiring supplemental oxygen for pulmonary disorders such as bronchitis, emphysema, lung cancer, and acute pneumonia. Oxygen concentrators can be efficiently used at home as well as clinical settings to support the user’s oxygen needs. Market growth is driven by the popularity and high demand for oxygen concentrators, due to their ease of use. Thus, many players in this market focus on incorporating significant changes in product design to suit patients’ routines.
The research titled, “Europe Medical Oxygen Concentrators Market Outlook, 2027”, 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 European countries & major companies. The European market was valued at USD 0.69 Billion in the year 2021, underpinned by the increasing prevalence of respiratory health issues especially COPD since the last few years. The region followed North America in the total global share, expected to show a gradual decline over the forecasted period. A jump in the number of asthmas, bronchitis, and other respiratory-related diseases, with Corona being a new entrant in the list, is expected to allow the market to grow over a growth rate of 5.4%. Along with lung cancer and pneumonia, COPD is one of the three leading contributors to respiratory mortality in Europe. The top 3 countries- Germany, UK & France, together account for half of the total regional market. With hit and track characteristics of respiratory diseases, there has been an increase in demand for oxygen concentrators in the region.
Among the various types of the concentrator, the oxygen cylinder segment led the market, but declining in the share with the portable concentrator segment gaining more popularity. The oxygen cylinder segment held to a market of little less than 50% in 2021. The technological advancements such as membrane technology and pressure swing adsorption used in portable oxygen concentrators will accelerate the product adoption at an anticipated CAGR of almost 9% over the forecasted period. Continuous flow concentrators may be simpler to use for some patients as they can provide an easy way to get oxygen throughout the day or night. However, this segment’s growth was restricted to 4%, due to the unavoidable wastage of O2. With new ailments get identified, newer medical therapy are introduced. One such therapy is Oxygen Therapy which applies to several diseases like asthma, respiratory distress syndrome, obstructive sleep apnea, among others. Long-term treatments in patients suffering from chronic lung abnormality are believed to allow a quality life length. The advent of new and improved techniques coupled with enhanced flexibility will impel pulse flow medical oxygen concentrator segment growth in the coming period. By the end of 2027, the segment is expected to cover over a quarter share of the market.
There has been a gradual shoot up in the demand for medical oxygen concentrators not only in hospitals & ambulatory services but also in homecare setup. The medical center care demand for such machines was valued at over 44% of the market in 2021, while the home care demand is to grow beyond a CGAR of 7%, through the forecasted period. There is no doubt that the pandemic has hit the world with a vast amount of population ended up losing their lives at the end. As a result, the market has been witnessing skyrocketing growth since the pandemic has hit upon the world, and the graph is nowhere expected to fully drain in the coming short interval of time.
Oxygen concentrators market is driven by the increasing prevalence of respiratory disorders, rapid growth in the geriatric population, high prevalence of tobacco smoking, preference towards home-based oxygen therapy, and technological advancements. However, the availability of low-cost alternatives by local manufacturers, stringent regulatory guidelines causing delays in product approvals, and Medicare reimbursement rate cuts for home oxygen therapy are restraining the growth of this market to a certain extent.
The pandemic affected many different industry verticals negatively, but the oxygen concentrator market observed a rapid and significant growth during this period. The demand for oxygen concentrators was at an all time high due to the virus hampering with the respiratory function of the human body. On the other hand the market also observed some shortcomings in terms of production and distribution due to the pandemic which induced travel restrictions and lockdowns for majority of the period.
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 2016 to 2027. For this study, Bonafide Research has segmented the Europe Medical Oxygen Concentrator Market report based on product, technology, end users, and countries:
Caire Inc, Inogen Inc.. Invacare Corporation, Koninklijke Philips N.V., Nidek Medical products Inc., ResMed Inc, Teijin Pharma Limited, Besco Medical Limited, Drive DeVilbiss Healthcare, GCE Group, MedTronic
Considered in the report
• Geography: Europe
• Base year: 2021
• Historical year: 2016
• Forecasted year: 2027
Aspects covered in the report
• Market Size by Value for the time period (2016-2027F)
• 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 Country
• Market Share by Company
The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Medical Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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