Global Medical Oxygen Concentrators Market: By Type (Portable and Table Top), By Application (Home Care and Non Home Care), By Technology (Pulse Dose and Continuous Flow), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global medical oxygen concentrators market was valued at US $ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Medical Oxygen Concentrators Market
An oxygen concentrator is a restorative device that concentrates oxygen from ecological air and conveys it to a patient needing supplemental oxygen. Dissimilar to other oxygen conveyance frameworks, oxygen concentrators don’t utilize put away oxygen in a packed or chilled shape. Without the requirement for oxygen tanks, oxygen concentrators are more secure and more convenient than more established oxygen conveyance device.
Market Dynamics: Medical Oxygen Concentrators Market
Growing chronic obstructive pulmonary disease (COPD) commonness combined with raising number of cigarette smokers drives medicinal oxygen concentrators market. Increased generation of smoke alongside rising medicinal services use are the factors boosting business development. Surging elderly populace base that is inclined to COPD additionally impels medicinal oxygen concentrators market development. Expanding need of giving respiratory arrangement or support to patients running from neonates to elderly that are experiencing various respiratory abnormalities builds interest for therapeutic oxygen concentrators. Number of private and open associations have executed projects to screen, analyze are anticipated to fuel business growth over the coming years. In any case, stringent administrative scene is foreseen to hamper industry development in coming years.
Market Scope: Medical Oxygen Concentrators Market
Global medical oxygen concentrators market is segmented based on the product, application, technology, and geography
Based on the product, the market is segmented into the following:
- Table Top
Based on the application, the market is segmented into the following:
- Non-home Care
- Home Care
Based on the technology, the market is segmented into the following:
- Pulse Dose
- Continuous Flow
Based on geography, the market is segmented into the following:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa.
Market Summary: Medical Oxygen Concentrators Market
Mechanical advancements in concentrators are further moving the market development. Key players are creating or altering items in this manner heightening the competition. Oxygen concentrator advances are concentrating on clinical sound treatment. Oxygen treatment is utilized as a part of the treatment of hypoxaemia, which includes conveyance of concentrated oxygen to the patient to enhance and balance out blood oxygen immersion. Rules related with the sheltered organization of oxygen change for different applications; stream rate and convergence of oxygen conveyed relies upon the age and seriousness of the patient. Manufacturers are endeavoring hard to build their piece of the overall industry through the innovations, for example, the improvement of new items and the headways of the current ones, broad value rivalries and mergers and acquisitions inferable from which the opposition among existing players is high. For example, in November 2016, Chart Industries declared dispatch of New Respiratory Center-of-Excellence in Canton U.S. to fabricate and convey imaginative respiratory items. This will upgrade the company’s BioMedical business.
Regional Analysis: Medical Oxygen Concentrators Market
Geographically, global medical oxygen concentrators market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is the huge market from the nearness of created home medicinal services administrations, expanding commonness of respiratory issue and good repayment approaches in the U.S. Expanding geriatric populace in North America is a standout amongst the most noteworthy drivers ascribing for the areas vast offer. As indicated by information distributed by the UN, it has been evaluated that in 2014, more than 70 million individuals in North America were over 60 years old which are inclined to different respiratory issue because of weaker invulnerable framework and low oxygen admission capacity. The Asia Pacific is required to quickest development rate over the gauge time frame. Expanding discretionary cash flow of individuals and changing eating regimen example and way of life related difference in the populace in this locale are the first driving elements for restorative oxygen concentrators market in the area.
Competition Assessment: Medical Oxygen Concentrators Market
Some of the players in the global medical oxygen concentrators market include:
- Invacare Corporation
- Chart Industries Inc.
- Resmed Inc.
- O2 Concepts LLC
- GCE Group
- Precision Medical Inc.
- Inogen Inc.
- Drive DeVilbiss Healthcare LLC
- Koninklijke Philips N.V.,
- Besco Medical Co.Ltd.