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Medical Oxygen Concentrators Market Trends, Current Updates and Forecast to 2024

Posted by gadewarshri2019 on August 6th, 2020

Market Overview:

Oxygen concentrators are less portable than the other options. An oxygen concentrator is a device that takes oxygen from the room, concentrates it for therapeutic use, and removes other naturally occurring gases. The benefits of concentrators are that they are less expensive and don’t require filling like tanks. Portable versions are available. However, most models are too large to be truly portable.

                              

Demand for oxygen therapies had been rising in the last couple of decades as numerous studies have pointed out that patients who undergo oxygen therapy live longer and lead more active lives. Medical Oxygen Concentrators Market Trends has therefore been expanding as oxygen concentrators have come to be increasingly used in not only hospitals and clinics but at homes by patients who require outpatient treatments or patients who wish to travel and continue to lead normal lives with considerable mobility in spite of the need for continuous requirement of oxygen supply.

Oxygen is distributed from the tank through a tube. It enters the lungs through nasal tubes, a face mask, or a tube inserted directly into the person’s windpipe.

Competitive Landscape:

  • Philips Healthcare
  • Invacare Corporation
  • AirSep Corporation
  • Drive DeVilbiss Healthcare
  • Medtronic plc
  • ResMed
  • Chart Industries
  • Nidek Medical Products
  • Precision Medical
  • GCE Group
  • Besco Medical Limited
  • O2 Concepts

Segmentation:

  • The medical oxygen concentrators market has been segmented into product, technology, indication and end user.
  • On the basis of product, the medical oxygen concentrators market segmentation includes portable oxygen concentrators and stationary oxygen concentrators. The use of portable oxygen concentrators can essentially change the lives of patients by making mobility possible with the lightweight, better mobility, compact size, and higher oxygen capacity.
  • Technology based segmentation of the medical oxygen concentrators market includes continuous flow and pulse dose.
  • Indication wise the medical oxygen concentrators market has been categorized into sleep apnea, asthma, chronic obstructive pulmonary disease, and others.
  • End user segmentation of medical oxygen concentrators market comprises hospitals and clinics, homecare, travel and others.

Regional Analysis:

Geographically, the North America held a substantial share in the medical oxygen concentrators market in 2018 which can be attributed to the presence of established home healthcare care services, active participation of key market players, increasing incidence of respiratory diseases, and favorable reimbursement scenario in the U.S. and Canada.

Expanding geriatric population in Europe coupled with rising prevalence of asthma, pulmonary hypertension, COPD, and fibrosis, would lead the region to be the second largest value contributor to the medical oxygen concentrators market.

Increasing healthcare expenditure, improvement in healthcare infrastructure and expanding awareness about need for oxygen concentrators will augment Asia-Pacific medical oxygen concentrators market growth. The region is anticipated to register the fastest market CAGR over 2018-2024 owing to increasing demand for portable concentrators.

The medical oxygen concentrators market in the Middle East & Africa would witness the modest market growth rate from 2018 to 2024. The Middle East would spearhead the market attributed to the rising prevalence of sleep apnea.

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Also See: Oxygen Concentrators, Medical Oxygen, Concentrators Market, Market Trends, Oxygen, Medical, Market

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