The Future of Medical Oxygen Concentrators & Oxygen Cylinders….. COVID-19

Posted by Mrudula Anil Karmarkar on February 3rd, 2022

The global medical oxygen concentrators & oxygen cylinders market size is expected to reach USD 3.7 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% over the forecast period. Technological improvements in oxygen concentrators, such as lesser weight, greater efficiency, high oxygen output, are anticipated to raise demand for portable concentrators, thereby aiding growth of the market. These concentrators allow patients to adopt an active lifestyle. They can easily carry out their day-to-day activities while using these medical devices. Hence, manufacturers are trying to miniaturize these medical devices as smaller sizes are always preferred by patients.

Unusually high demand for mechanical ventilators is resulting in a significant shortage of these devices in key countries affected by the Covid-19 outbreak. The unmet demand for mechanical ventilators is forcing biomedical engineers and scientists to create makeshift ventilators using respiratory devices such as PAP, manual resuscitators, nebulizers, oxygen concentrators, and others. This is acting as a pivotal factor for the growth of the oxygen concentrators market in recent times. We at GVR are trying to quantify the impact of this pandemic on the oxygen concentrators market. Get your copy now to gain deeper insights on the same.

In addition, increasing prevalence of chronic obstructive pulmonary disease (COPD) and other lung disorders is another key factor driving the market. Prevalence of COPD and other lung disorders is high in tobacco smokers and people exposed to airborne pollutants. COPD is a leading cause of mortality and morbidity worldwide. According to the European Respiratory Society, in 2020, COPD emerged as the fourth major cause of mortality and morbidity and is expected to become the third leading cause of mortality and morbidity in the next ten years, if the prevalence grows at the same rate. According to the Global Burden of Disease Study, in 2016, the prevalence of COPD was 251 million globally.

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COPD is a leading cause of death in U.S., however many people are still ignorant about it, thus many cases remain undiagnosed. Hence, governments in various countries have undertaken initiatives to educate people about the early symptoms and ways of managing the condition. For instance, the National Heart, Lung, and Blood Institute (NHLBI) in U.S. initiated the COPD Learn More Breathe Better Program-a national health education program-that aims to create awareness about lung health in the country. Rising number of government initiatives and awareness campaigns by various organizations to educate patients about COPD is expected to drive the market for medical oxygen concentrators and cylinders over the forecast period.

Medical Oxygen Concentrators & Oxygen Cylinders Market Report Highlights

• Portable concentrators emerged as the leading product segment in 2020 with a revenue share of 35.2%
• By technology, continuous flow accounted for the largest revenue share in 2020. The pulse flow segment is projected to expand at the fastest CAGR during the forecast period
• Based on end user, home care emerged as the leading segment in 2020 owing to growing usage of home-based therapy
• North America accounted for the largest market share based on revenue in 2020. Increasing prevalence of COPD, growing geriatric population, and technology advancements are driving the usage of these medical devices amongst people in U.S.

Grand View Research has segmented the global medical oxygen concentrators & oxygen cylinders market on the basis of product, technology, end user:

Medical Oxygen Concentrators & Oxygen Cylinders Product Outlook (Volume, 000’ Units, Revenue, USD Million, 2014 - 2026)

• Portable Concentrator & Cylinders
• Stationary Concentrator & Cylinders
• Oxygen Concentrator & Cylinders

Medical Oxygen Concentrators & Oxygen Cylinders Technology Outlook (Volume, 000’ Units, Revenue, USD Million, 2014 - 2026)

• Continuous Flow
• Pulse Flow

Medical Oxygen Concentrators & Oxygen Cylinders End-user Outlook (Volume, 000’ Units, Revenue, USD Million, 2014 - 2026)

• Home Care
• Non-homecare

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.