Global Oxygen Concentrators Market 2017-2021
About Oxygen Concentrators
An oxygen concentrator is a medical device, which concentrates the oxygen from the environment in a compressed form by filtering out the nitrogen content and supplies an oxygen-enriched gas stream. There is a high demand potential of oxygen concentrators with increase in the number of anesthesia procedures. In addition, they are used in many surgical procedures related to lung disease, cardiac disorder, COPD, asthma, and during trauma injuries. They have portable and fixed systems, which consist of a filter, flow control valve, sieve bed, and humidifier bottle to store the compressed oxygen-enriched gas as inbuilt components.Technavio’s analysts forecast the global oxygen concentrators market to grow at a CAGR of 6.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global oxygen concentrators market for 2017-2021. To calculate the market size, the report considers new installations, shipments, sales, and service market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Oxygen Concentrators Market 2017-2021
Technavio recognizes the following companies as the key players in the global oxygen concentrators market: Inogen, Invacare, and Koninklijke Philips N.V.
Other Prominent Vendors in the market are: Besco Medical, Chart Industries, Intersurgical, Nidek Medical Products, LIFECARE MEDICAL, Longfian Scitech, The Linde Group, Inova Labs, TEIJIN, Oxus America, and Precision Medical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing partnership and collaboration activities. The global oxygen concentrators market is saturated with the presence of many vendors. Hence, it is necessary to maintain the market share in a competitive environment that leads to the adoption of strategic partnerships. A strategic alliance including partnership agreements, sales agreements, and distribution agreements helps the oxygen concentrator manufacturers to increase their presence in new untapped markets.”
According to the report, one driver in the market is increase in online purchases of oxygen concentrators. Vendors have been increasing online marketing and promotional activities to provide better accessibility to their products and gain more profits. Online marketing services allow vendors to minimize setup, distribution, and operational costs. Many small and large vendors, such as MedicalExpo and IndiaMART sell oxygen concentrators and accessories online. They also provide discounts and promotional offers, which increased the number of online purchases.
Further, the report states that one challenge in the market is presence of low-cost alternatives. The average cost of the portable or fixed oxygen concentrators ranges from $700-$3,500. Some small companies develop devices that range from $700-$1,000 such as 5 LPM Home Oxygen Concentrators. This will create a pricing pressure on the large companies such as Koninklijke Philips N.V. and Inogen and lead to price reduction. This will affect the growth of the Tier-1 and Tier-2 companies. Similarly, the average cost of the traditional oxygen cylinder tank, which is used during oxygen therapy in many treatment procedures is around $200-$500.
Inogen, Invacare, Koninklijke Philips N.V, Besco Medical, Chart Industries, Intersurgical, Nidek Medical Products, LIFECARE MEDICAL, Longfian Scitech, The Linde Group, Inova Labs, TEIJIN, Oxus America, and Precision Medical.