Oxygen Concentrators Market (Product Type - Stationary, and Portable; Technology - Continuous Flow, and Pulse Dose; End User - Homecare, Hospitals and Clinics, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on oxygen concentrators market provides in-depth analysis of segments and sub-segments in the global as well as regional oxygen concentrators market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional oxygen concentrators market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global oxygen concentrators market. According to the report, the global oxygen concentrators market is projected to grow at a CAGR of 8.6% from USD 1884.1 million in 2020 to over USD 3091.2 million in 2026 during the forecast period of 2020-2026.

Market Insight

Oxygen concentrator devices are used to provide supplementary oxygen for patients with chronic obstructive pulmonary disease (COPD) and, in higher concentrations, for brutal chronic hypoxemia and pulmonary edema. These devices are also used as an adjunct treatment for severe sleep apnea as well as it generally used as stationary sources to provide long-term oxygen therapy (LTOT) to patients at home. Oxygen concentrators are equipped with special filters and sieve beds that help remove Nitrogen from the air to ensure delivery of completely purified oxygen to the patient.

The rising prevalence of chronic obstructive pulmonary disease (COPD) and other lung disorders are the major driving factor for the oxygen concentrators market. According to WHO, approximately 65 million people suffer from COPD each year, and 3 million dies, making it the third leading cause of death worldwide. Furthermore, about 334 million people suffer from asthma, the most common chronic disease of childhood affecting 14% of all children globally. Moreover, according to the World Bank study report the rise in air pollution and particulate matter such as sulfur dioxide, ozone, 2.5-micron particulate matter, and others due to rapid industrialization and urbanization has resulted in the growth of chronic pulmonary diseases. Oxygen concentrators are highly applicable in situations that require home-based supplementation is indicated such as COPD, Sleep Apnea, and other lung diseases which increases the demand for them. However, a stringent regulatory landscape associated with manufacturing and marketing standards of medical oxygen concentrators is hampering the growth of the market. The spread of COVID-19 over the world has created wide growth opportunities to the market players in the forecasted period. The outbreak of coronavirus around the world has positively impacted the global oxygen concentrators market. The spread of coronavirus is characterized by major respiratory symptoms due to potentially low levels of oxygen in the patient’s body. Oxygen therapy is an important aspect of Covid-19 treatments that is estimated to strongly support the demand for portable oxygen concentrators throughout the pandemic period. Even after the COVID-19 pandemic is under control, the global oxygen concentrators market is expected to retain its trend throughout the forecast time.

Geographically, the global oxygen concentrators market has been dominated by the North America region over the historic period 2019. The factors such as the high aging population and increasing prevalence of respiratory diseases are driving the demand for oxygen concentrators in this region. The Asia Pacific is anticipated to be the most lucrative market for oxygen concentrators during the forecast period. The rapidly increasing geriatric population and prevalence of lung disorders are the key factors fueling the regional market growth. Improving the standard of living and growing usage of home-based therapy are the major factors driving the demand for products in Europe.

Segment Covered

The report on global oxygen concentrators market covers segments such as product type, technology, and end user. On the basis of product type, the sub-markets include stationary, and portable. On the basis of technology, the sub-markets include continuous flow, and pulse dose. On the basis of end user, the sub-markets include homecare, hospitals and clinics, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Chart Industries, Inc., Koninklijke Philips N.V., Invacare Corporation, O2 Concepts, Teijin Limited, DeVilbiss Healthcare LLC, Nidek Medical, Inogen, Supera Anesthesia Innovations, and GCE Group.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of oxygen concentrators market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.