What is Oxygen Concentrator Market?
In the field of medicine’s great advancements, the oxygen concentrators today are compact, small, quiet, and lightweight, but still provide the utmost compliance and high performance. High demand for oxygen concentrators in Health care industries and home-based medical care is mainly attributed to infections and chronic diseases affecting the respiratory health of individuals. An oxygen concentrator is a type of medical apparatus used for delivering oxygen to persons with breathing-related disorders. Those whose oxygen concentration in their blood is lower than normal often require an oxygen concentrator to replace that oxygen. Previously oxygen concentrators are heavy and, making it difficult for patients requiring oxygen therapy while traveling or outside their home. It equipped with special filters and sieve beds which help remove Nitrogen from the air to ensure delivery of completely purified oxygen to the patient. These devices also come with an electronic user interface so users can adjust the levels of oxygen concentration and delivery settings. Inhale the oxygen through the nasal special mask. The demand for the portable oxygen concentrator for individuals who wish to bring along their oxygen therapy with them while performing their daily activities is booming the demand for the oxygen concentrator.
Highlights from Oxygen Concentrator Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Koninklijke Philips N.V (Netherlands), Chart Industries, Inc. (United States), Invacare Corporation (United States), Inogen, Inc. (United States), Drive DeVilbiss Healthcare (United States), O2 CONCEPTS LLC., (United States), Nidek Medical (India), GCE Group (Sweden), CAIRE Inc. (United States), GF Health Products(United States) and Linde(United Kingdom) |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Oxygen Concentrator market throughout the forecasted period.
Koninklijke Philips N.V (Netherlands), Chart Industries, Inc. (United States), Invacare Corporation (United States), Inogen, Inc. (United States), Drive DeVilbiss Healthcare (United States), O2 CONCEPTS LLC., (United States), Nidek Medical (India), GCE Group (Sweden), CAIRE Inc. (United States), GF Health Products(United States) and Linde(United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Nidek Medical(United States) and Air Water Group(Japan). Oxygen Concentrator Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Homecare and Non-Homecare |
Type | Portable, Transportable and Fixed |
Technology | Pulse,Continuous Flow,Combined |
On the basis of geography, the market of Oxygen Concentrator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The emerging demand for Chronic Diseases that Require Oxygen Therapy
Market Growth Drivers:
Technological improvements in medical oxygen concentrators, Increasing prevalence of Chronic Obstructive Pulmonary Disease (COPD) and other lung disorders, An increasing number of government initiatives for COPD awareness and Growing geriatric population susceptible to respiratory problems
Restraints:
The high cost of medical oxygen concentrators over the ordinary to medical cylinders
Opportunities:
Emerging demand for oxygen concentrator in developing and developed countries as well due to the outburst of the COVID 19 across the globe is booming the growth opportunities
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Oxygen Concentrator Manufacturer, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
Market Leaders & Development Strategies
In August 2019 Inogen leading manufacturer of innovative respiratory products, a United States-based company has acquired New Aera Inc., a manufacturer of portable noninvasive ventilators, for about USD 70.4 million cash. This acquisition would incorporate New Aera's Tidal Assist Ventilator system technology into its oxygen concentrators, and sell the ventilator system in the short to intermediate-term.
In April 2019 Inogen United States-based medical technology company offering innovative respiratory products for use in the homecare setting company has introduced its new oxygen concentrator named Inogen One G5™ portable concentrator.