Global Medical Oxygen Concentrators Market Outline:
Global Medical Oxygen Concentrators Market Report Description:
The global medical oxygen concentrators market report gives a comprehensive outlook on medical oxygen concentrators devices across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). The report on medical oxygen concentrators market gives historical, current, and future market sizes (U S$ Mn) on the basis of product type, technology, application, end user, and geographic regions. This report studies medical oxygen concentrators market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the medical oxygen concentrators market report includes technology advancements; regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed medical oxygen concentrators market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the medical oxygen concentrators market report include suppliers, manufacturers, marketers, policymakers, and healthcare service providers engaged in manufacturing, supply and usage of medical oxygen concentrators.
Global Medical Oxygen Concentrators Market:
Global medical oxygen concentrators market was valued US$ 1,100.19 Mn in 2019 and poised to grow at CAGR of 8.9% over 2020-2026. The market for medical oxygen concentrators projected to reach US$ 1,795.93 Mn by 2026 owing to growing geriatric population, the incidence of various respiratory disorders, and technology advances in oxygen concentrators.
Technology advances in oxygen concentrators driving the market revenue growth across the geographies
Players in the Medical oxygen concentrators market increasingly shifting focus from mere offering cost-effective products to value-based products to improve the usability of the devices by the consumers. In this regard, players came up with oxygen concentrators with features like compact and lighter weight devices with variable oxygen supply capacity to address the growing consumer demand. The advances in product development likely to impact oxygen concentrators market growth positively over the forecast period. Moreover, several oxygen concentrators are available with different flow rate such as continuous and pulse flow devices, which are digitally monitored to help in the improved usability in across patient groups in hospital and homecare setups, which are advancing medical oxygen concentrators market revenue growth across the globe.
Favorable patient dynamics likely to create favourable growth opportunities for the players
The growing ageing populations, who are vulnerable to several respiratory diseases, are expected to drive the market revenue growth over the forecast period. For Instance, in 2016, according to World Bank population statistics, population ages 65 and above is estimated to be around 8.5% of total population and projected to grow geriatric population over the forecast period, which in turn affect the market growth positively. Moreover, Chronic Obstructive Pulmonary Disease (COPD) patients are increasingly adopting oxygen concentrators for COPD management; this would drive the market revenue growth. For instance, in 2015, according to WHO, COPD estimated to cause three million deaths globally. In addition, growing consumptions of cigarettes, marijuana, and rising air pollution causing respiratory diseases, this, in turn, propels the adoption of oxygen concentrators across the patient groups.
North America market led the global medical oxygen concentrators demand
North America market leads the global medical oxygen concentrators market and projected to remain dominant over the forecast period owing to favourable reimbursement policies, well-developed homecare services in the region. Asia-pacific medical oxygen concentrators market projected to grow at significant CAGR over the forecast period owing to large patient population and increasing incidence of various respiratory diseases in the region.
Key players profiled in the global Medical Oxygen Concentrators market include:
- Chart Industries, Inc. (U.S.)
- Medtronic plc. (U.S)
- DeVilbiss Healthcare LLC (U.S)
- GCE Group (Sweden)
- Inogen (U.S)
- Invacare Corporation (U.S)
- Koninklijke Philips N.V. (Netherlands)
- Linde Healthcare (Germany)
- Nidek Medical Products, Inc. (U.S)
- O2 Concepts, LLC (U.S)
- Oxus America (U.S)
- Oxygen to Go, LLC (U.S)
- Teijin Limited (Japan)
Players in the medical oxygen concentrators market are focusing on introducing technologically advanced products with improved safety features to garner larger market share. For instance, in 2016, GCE Healthcare launched Zen-O Lite, a lightweight portable oxygen concentrator that helps people with respiratory diseases to stay active.
Key Findings of the Report:
- medical oxygen concentrators market expanding at 8.9% CAGR over 2020 to 2026 to reach the market value of US$ 1,795.93 Mn by 2026
- Based on product type, portable oxygen concentrators accounted for larger market revenue share in 2016 owing to growing lightweight oxygen concentrators introduction in the market
- Pulse Dose Oxygen Concentrators growing with significant growth rate owing increasing prevalence of various respiratory diseases
- Homecare accounted larger revenue share in the global market and expected to remain attractive over the forecast period
- Players focusing on launching technologically advanced products to retain the market position in global medical oxygen concentrators market.
By Product Type
- Portable Oxygen Concentrators
- Stationary Oxygen Concentrators
- Pulse Dose Oxygen Concentrators
- Continuous Flow Oxygen Concentrators
- Cystic Fibrosis
By End User
- Ambulatory Surgical Centers (ASC)
- Travel Agents
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
The Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market