Report Ocean has recently published a revised figures report on the worldwide Medical Oxygen Concentrator market. Growth prospects and difficulties are noted in the paper. A tool for evaluating the potential for new goods and services is the constraints and opportunity analysis. This aids businesses in locating and forecasting market opportunities.
A medical oxygen concentrator market is forecast to grow at a compound annual growth rate (CAGR) of more than 125 during the forecast period from 2021-2030.
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As a healthcare device, a medical oxygen concentrator provides oxygen to patients suffering from respiratory disorders. In medical oxygen concentrators, sieve beds and filters separate nitrogen from oxygen to eliminate nitrogen constituents in the air. After the air has been purified and the nitrogen element removed, it is ready to be delivered to the dedicated patients via a nasal cannula or an oxygen mask. In addition to filtering the air they capture from the surroundings; the concentrators ensure that the oxygen delivered to patients is not contaminated. Although they are a lifesaver for patients suffering from respiratory ailments, they are designed only for patients with less complexity. However, 99% oxygen content is crucial in severe respiratory conditions, exceeding an oxygen concentrator’s limit, rendering it ineffective.
It offers details on crucial market processes, such as leading participants. Changes in consumer behavioral patterns have temporarily hindered the market’s growth because the size of the Medical Oxygen Concentrator market is still insufficient to predict precise dollar estimates. As a result, it will be essential to conduct a more thorough analysis of the market by considering other factors.
The study also contains a compilation of qualitative and quantitative evaluations made by subject-matter experts in their fields as well as representatives from various industries found all along the supply chain.
Over the forecast period, the size of the worldwide Medical Oxygen Concentrator market will increase at a compound annual growth rate (2023-2032). The paper discusses further findings that researchers made based on the comprehensive data and also offers information on the state of the market. The paper discusses kinds and applications based on various nations and important locations. The market’s most active companies are described in detail with regard to attributes like corporate portfolio, business strategy, financial overview, recent developments, and industry share.
Factors Affecting
- Increasing out-of-pocket spending (OOPS) has contributed to the rising demand for oxygen concentrators in low- and middle-income nations, which have been deeply affected by pollution. This increased demand has led to growth in the global medical oxygen concentrator market.
- The National Center for Biotechnology Information (NCBI) reported that over 3.2 million people died of COPD in 2017, with a global mortality rate of 5.7%. A recent estimate claims that 90% of COPD deaths occur in low- and middle-income countries. Oxygen concentrators are more portable and simpler to use than other oxygen devices on the market, making them more effective for these patients. Globally, these factors contributing to the increasing demand for medical oxygen concentrators.
- The high cost of oxygen concentrators and strict regulations are limiting the market’s growth.
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Regional Analysis
In the global medical oxygen concentrator market, North America accounted for the largest market share. With an aging population and COVID-related aging trend, medical oxygen concentrators have seen a substantial increase in demand in the region. Additionally, the region is the worst affected region in the world for obstructive pulmonary disease. Thus, North America is forecast to witness a higher demand for medical oxygen concentrators, driving the global market for medical oxygen concentrators.
Leading Competitors
The leading prominent competitors in the medical oxygen concentrator market are:
- Chart Industries, Inc. (AirSep) (US)
- DeVilbiss Healthcare LLC (US)
- GCE Group (Sweden)
- Inogen (US)
- Invacare Corporation (US)
- Koninklijke Philips N.V. (Netherlands)
- Nidek Medical (India)
- O2 Concepts (US)
- Supera Anesthesia Innovations (US)
- Teijin Limited (Japan)
- Other Prominent Players
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We continuously monitor the direct effects of COVID-19 (Update #Omicron mutations analysis) and the Russia-Ukraine War on the market, in addition to the indirect influence of related industries. The report will contain the observations.
The Russia-Ukraine War, which broke out in February 2022, had an effect on industries all across the world. Strict travel restrictions over Ukrainian airspace have been widely announced. The Russia-Ukraine War in 2022 has hurt the market. The war between Russia and Ukraine increases defense spending and strengthens the armed forces of NATO members. The majority of European countries have increased their defense spending as a result of Russia’s invasion. German defense spending will rise above 2% of GDP thanks to an allocation of USD 109 billion, which is more than the entire cost of the armed forces in 2021.
Scope of the Report
The global medical oxygen concentrators market segmentation includes Product Type, Technology, Application, End-User, and Region.
Segmentation based on Product Type
- Portable Oxygen Concentrators
- Stationary Oxygen Concentrators
- Segmentation based on Technology
- Continuous Flow
- Pulse Flow
Segmentation based on Application
- Chronic obstructive pulmonary disease (COPD)
- Asthma
- Sleep Apnea
- Pneumonia
- Others
Segmentation based on End-User
- Home Care
- Hospitals
- Ambulatory Care
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Frequently Asked Questions (FAQs)
- What opportunities exist for the Medical Oxygen Concentrator market to expand?
- How quickly is the market expanding?
- Which local market will lead the way in the upcoming years?
- What potential for growth in the Medical Oxygen Concentrator market exists in the foreseeable future?
- What potential problems can the Medical Oxygen Concentrator market encounter in the future?
- Which businesses dominate the market?
- What are the primary elements causing rapid growth?
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