Medical Oxygen Concentrators Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
Amid the COVID-19 fallout and rampant chronic obstructive pulmonary disorder (COPD), medical oxygen concentrators market share is geared to witness a notable spike. Oxygen concentrators tend to selectively remove nitrogen to innately supply an oxygen-enriched product gas stream. Oxygen concentrators have become highly sought-after in delivering oxygen therapy to people with breathing disorders.
Unavailability or dearth of oxygen beds for COVID-19 positive people has stimulated the demand for oxygen concentrators. With several individuals opting for hospitalization, medical equipment suppliers are witnessing a spike in the demand for oxygen concentrators.
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End-markets are vying to bear fruit from oxygen concentrators for they are cost-effective, helpful in emergency, easy to operate and useful for home and hospitals. A spike in the number of patients suffering from acute and chronic breathing disorders has encouraged manufacturers to boost production of oxygen concentrators. GMI, projects medical oxygen concentrators market size to grow steadily and pick pace through 2026.
Oxygen concentrators have become an ideal and favorable option for administering point-of-care oxygen in developing country settings. It is worth noting that oxygen concentrators provide a cost-effective and sustainable source of medical oxygen to health facilities with reliable power.
Portable oxygen concentrators take giant leap
Portable oxygen concentrators have risen in popularity and are gaining impetus among the users as they consume less power than their stationary counterparts. Manufactures have introduced an easy-to-control and clean control panel that will enable the individual to keep an eye on the battery life and liter flow. Industry players are leaving no stone unturned to streamline the product as the newest portable concentrators are compact and lightweight.
With mobility, individuals have been warranting POC that is one-size-fits all device and can provide both continuous and pulse-flow delivery. Portable oxygen concentrators segment will witness a substantial uptick in the next five years.
Expanding penetration of pulse flow technology
Of late, traction for pulse flow technology has surged, mainly credited to its sheer ability to automatically boost or reduce the oxygen supply in line with patient’s breathing rate. Notably, pulse flow technology equipped oxygen concentrators are believed to be ideal for patients with sedentary- and busy lifestyle and involves frequent outing. Pulse flow technology segment revenue size stood at around US$804.2 million in 2019.
While home care setting will grow moderately, individuals have found liking for non-homecare medical oxygen concentrators that registered more than 34% revenue share in 2019. An upsurge in geriatric population who are vulnerable to cardiac and respiratory and people with severe COPD will trigger growth of the segment.
Robust supply of oxygen concentrators
When it comes to geographical expansion, stakeholders are likely to up their investments in North America as the U.S. combat COVID-19 pandemic and rampant COPD disease. Inclination for portable oxygen concentrators will be more pronounced in the region. North America medical oxygen concentrators market share was pegged at over 39.5% in 2019, similar growth trajectory is expected through 2026.
Tesmasek Foundation of Singapore will supply 20,000 oxygen concentrators to India, first tranche of 4,475 units was completed in July 2020, while another 15,525 would be supplied in August. With a notable rise in Asthma conditions and pervasive COVID-19, stakeholders are expected to fuel investment in APAC.
In a bid to gain a competitive edge, both established and budding companies are emphasizing product roll outs, expansion of facilities and reduction of product recalls. For instance, Caire Company rolled out a portable concentrator deployed with autoSAT technology in November 2019. Meanwhile, in January 2019, ResMed announced the availability of a portable oxygen concentrator Mobi across the U.S.
Oxygen concentrators have become a good source of cost-effective and instantly available oxygen, where piped oxygen systems and oxygen cylinders are unavailable. Medical oxygen concentrators business outlook is poised for robust projection in the ensuing period.
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Partial Chapter of the Table of Content
Chapter 4. Medical Oxygen Concentrators Market, By Product
4.1. Key segment trends, by product
4.2.1. Market size, by region, 2015 - 2026 (USD Million)
4.3.1. Market size, by region, 2015 - 2026 (USD Million)
Chapter 5. Medical Oxygen Concentrators Market, By Application
5.1. Key segment trends, by application
5.2. Home care
5.2.1. Market size, by region, 2015 - 2026 (USD Million)
5.3. Non-home care
5.3.1. Market size, by region, 2015 - 2026 (USD Million)