Oxygen concentrators Market based on Type (Portable and Stationary), Technology (Pulse Flow and Continuous Flow), End-User (Hospitals, Home Care Settings, and Ambulatory Surgical Centers & Physician Offices), and Geography – Global Forecast up to 2027
A surging number of cases associated with respiratory and lungs diseases with rising prevalence of chronic obstructive pulmonary diseases are the key attributes likely to drive the oxygen concentrators market. Few other factors to stimulate the market growth are increasing incidence of strokes due to the ever-growing elderly population and companies making substantial investments in incorporating advanced technology to provide high quality, latest technology products to hospitals and healthcare units. But, the availability of less-cost substitutes of oxygen concentrators by local manufacturers is likely to restrain the market growth. The Oxygen concentrators Market is projected to grow at the rate of 9.2% CAGR by 2027. Oxygen concentrators are used to supply oxygen to individuals suffering from breathing diseases. People with lower oxygen levels in the blood than normal will generally require an oxygen concentrator to replace that oxygen. Oxygen concentrator purifies the surrounding air and compresses it to the needed density, and then supplies purified oxygen into a pulse-dose delivery system or continuous stream system to the patient.
Oxygen concentrators Market based on Type
Oxygen concentrators Market based on Technology
- Pulse Flow
- Continuous Flow
Oxygen concentrators Market based on End-User
- Home Care Settings
- Ambulatory Surgical Centers & Physician Offices
Oxygen concentrators Market based on Geography
- North America
- Asia Pacific
- Rest of the World
In the market segmentation by type, the market is bifurcated into portable and stationary devices segments, with the portable segment holding a larger share in the market. The demand for portable concentrated oxygen concentrators is driven by the rising demand for oxygen, the increasing elderly population base, and the increasing younger populations with COPD. For oxygen therapies, portable devices with higher concentrations of oxygen than ambient air are used. Further, owing to the benefits such as smaller dimensions, better portability, and higher capacities for oxygen suited for all situations, this equipment is possible for travelers.
In the market by technology, the market is classified into pulse flow and continuous flow. The continuous flow segment has generated a higher market share. This is due to the advancements in technology in the development of new products is projected to increase the use of oxygen concentrators. Moreover, the continuous use of respiratory equipment for oxygen treatments is expected to drive the segment market growth.
On the basis of end-user, the market is categorized into hospitals, home care settings, and ambulatory surgical centers & physician offices. The home care settings segment is having a significant share in the market growth. The significant share is attributed to the factors such as the increase in the elderly population, rising cases of chronic obstructive pulmonary disease, and escalated demand for household healthcare oxygen treatments.
As per the market by geography, among the regions North American region is having a remarkable share in the market. This is accounted for the factors such as the presence of several leading global manufacturers in the region, along with the companies ramping up their production capacity and rising expenditure on healthcare, and increasing disposable income.
The increasing prevalence of chronic obstructive pulmonary diseases around the world, which are related to breathing problems, contributed to the global oxygen concentrators market’s growth by growing usage of oxygen for medical purposes. Chronic Obstructive Pulmonary Disease (COPD) is more prevalent in the old population. COPD is a type of obstructive lung disease that results in chronic breathing problems. Chronic Obstructive Pulmonary Disease requires the usage of an oxygen concentrator, which is a device that increases the level of oxygen in blood in patients and responds to their breathing problems.
This report provides with a few notable vendors of the oxygen concentrator market, which include Chart Industries, Inc., Nidek Medical Products, Inc., Besco Medical Co. Ltd., Koninklijke Philips N.V., Drive DeVilbiss Healthcare LLC, Precision Medical, Inc., Invacare Corporation, AirSep Corporation, Philips Healthcare, and O2 CONCEPTS, LLC.
As a result, in the scenario of an increasing population of patients, the requirement of oxygen has increased, where oxygen concentrators have a prominent role. This is largely because oxygen concentrators can collect oxygen from surroundings without any limitation, which is a key benefit of oxygen concentrators.
- This report illustrates the most vital attributes of the oxygen concentrators market, which are driving and providing opportunities.
- This research gives an in-depth analysis of the oxygen concentrator market growth on the basis of several segments in the market.
- This report presents the predictions of the past and present trends of the oxygen concentrators market.
- This study also presents the competitive analysis, such as key strategies and capabilities of major players of the oxygen concentrators market.