Industry Background:
A medical oxygen concentrator refers to the oxygen therapy device which is used for people who require greater oxygen concentrations. Medical oxygen concentrator market has high growth prospects owing to the increasing number of patients with respiratory disorders, growing healthcare infrastructure in the developing economies, and increasing demand for a portable oxygen concentrator. Further, rising applications of an oxygen concentrator for home care and technological advancement expected to drive the demand for medical oxygen concentrator over the forecasted period.
According to AMA Research, the market for Medical Oxygen Concentrators is expected to register a CAGR of 8.79% during the forecast period to 2030. This growth is primarily driven by Growing Prevalence of Different Respiratory Disorders
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as AirSep Corporation (United States), ResMed (United States), Medtronic (Ireland), Koninklijke Philips N.V (Netherlands), Chart Industries, Inc. (United States), Invacare Corporation (United States), Inogen, Inc. (Unites States), Drive DeVilbiss Healthcare (United States), O2 CONCEPTS LLC. (United States) and Nidek Medical (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2021, Tech Mahindra Foundation partnered with OxygenForIndia to deploy 3,000 oxygen concentrators and 40,000 oxygen cylinders. This partnership aims to support the creation of oxygen capacity across 15 cities and Tier-II towns.
In October 2022, O2 Concepts launched the Oxlife Liberty, which is set to revolutionize the oxygen therapy landscape with its advanced features.The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Regulatory Insights:
“According to the Federal Aviation Regulation No. 106 with acceptance criteria for portable oxygen concentrators to be used by passengers in air carrier operations, commercial operations and certain other operations using large aircraft. Currently, the agency assesses each portable oxygen concentrator on a case-by-case basis to determine whether it is safe for use on board aircraft. If the agency determines that a portable oxygen concentrator is safe for use on board aircraft, the specific model is identified in regulations.”
Influencing Trend:
Increasing Number of Patients with Lung Diseases and Technological Advancement in the Oxygen Concentrators
Market Growth Drivers:
Growing Prevalence of Different Respiratory Disorders and Rising Demand for Home Healthcare Oxygen Therapies
Challenges:
Lack of Advanced Healthcare Infrastructure in the Low and Middle Income Group Countries
Restraints:
Stringent Government Regulations Regarding Medical Devices and High Cost of Medical Oxygen Concentrators
Opportunities:
Increasing Demand for the Portable Oxygen Concentrators and Growing Healthcare Infrastructure in the Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medical Oxygen Concentrators Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medical Oxygen Concentrators Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medical Oxygen Concentrators players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Oxygen Concentrators Study Sheds Light on
The Medical Oxygen Concentrators Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Oxygen Concentrators industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Oxygen Concentrators industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.