Pune, India, Sept. 28, 2021 (GLOBE NEWSWIRE) -- The global medical oxygen concentrators market size is expected to observe remarkable growth during the forecast period, as large number of young people across the world are adopting an unhealthy lifestyle like poor dietary choices and lack of physical exercise, leading to extreme stress and sleep deprivation. Following are the key trends that will expand the market size:
Fixed medical oxygen concentrators find strong market in Europe:
Fixed medical oxygen concentrators will gain traction among customers in Europe in the coming years as they are quite easy to use. They offer uninterrupted oxygen supply to patients because they do not depend on pressurized oxygen. In addition to this, fixed oxygen concentrators are more affordable as compared to the portable ones.
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COVID-19 pandemic in Europe fosters non-home care services:
The ongoing COVID-19 pandemic had a major impact on several European economies with millions of people testing positive and being admitted to the hospitals. This is why regional medical oxygen concentrators market size from non-home care application is predicted to expand at 2% CAGR through 2027. The pandemic has an important role to play in this because non-home care places like hospitals and COVID-19 care centers are using medical oxygen in large quantities.
A large number of people, especially the elderly population, prefer to get themselves treated in hospitals due to availability of advanced medical facilities. Rising regional government expenditure towards the development of public healthcare infrastructure will further boost the demand for non-home care solutions.
Pulse flow technology use in medical oxygen concentrators:
Pulse flow technology will be extensively implemented in the delivery of medical oxygen concentrators across Europe. People who have been diagnosed with mild respiratory infections use pulse flow oxygen concentrators. Medical oxygen concentrators market share in Europe is expected to be valued at over $1 billion by 2027.
This technology adjusts its breathing rate as per the patient’s level of breathing, thereby making it an ideal product choice among customers who seek flexibility in their medical treatments. Pulse flow technology is undergoing some major advancements like the introduction of autoSAT technology that helps sustain the oxygen volume to a great extent.
Asia Pacific sees increased adoption of portable medical oxygen concentrators:
Portable medical oxygen concentrators held nearly 55% revenue share of APAC market in 2020. There are many advantages of using this product like low weight, portability, and ease in operations. Several reputed companies in the region are striving to create advanced technologies to increase the battery life and durability of this equipment.
In November 2019, CAIRE launched a portable medical oxygen concentrator called FreeStyle Comfort, which is equipped with autoSAT technology, self-adjusting, and proprietary clinical features. APAC medical oxygen concentrators industry will reach a projected valuation of more than $1 billion by 2027.
Home care solutions demand slump in Asia Pacific:
Asia Pacific medical oxygen concentrators market share from home care solutions is predicted to witness -6.2% CAGR between 2021 and 2027. While the rising elderly population in the region would like to avail medical services from home, they are likely to still prefer non-home care treatments as they are able to use the services of medical professionals.
These experts offer specialized treatments and care, something that is not possible in homecare services. The mentioned factors will augment the use of medical oxygen generators in hospitals and other care centers in the region.
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Use of fixed medical oxygen concentrators in North America:
Hospitals and clinics across North America will use fixed medical oxygen concentrators on a large scale as they are readily available at an affordable cost as compared to portable ones. Home care centers catering to bedridden patients will bolster the demand for these concentrators in the region. The US is home to significantly advanced medical infrastructure and the access to modern portable equipment is growing every year across the region.
Non-homecare treatments gain traction in North America:
North America medical oxygen concentrators market share is projected to go past $1.2 billion in valuation by 2027. The regional industry size from non-homecare solutions was valued at more than $350 million in 2020. North America saw an alarming rise in the number of patients being admitted to hospitals for coronavirus treatment.
The regional governments are increasing their investments to make the public healthcare infrastructure as advanced and convenient as possible. All these aspects will boost the use of non-homecare services in North America.
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Canada medical oxygen concentrators market experiences slight decline:
Canada industry is expected to record a CAGR of -0.6% through 2027. The country witnessed a sudden rise in demand during 2020 owing to the COVID-19 crisis. However, while the regional authorities are increasing their healthcare expenditure with the aim of offering excellent medical services, other factors like rise in chronic diseases and growing geriatric population may sustain the demand for these concentrators, but at a lower level than 2020-2021.
Reputed companies producing medical oxygen concentrators across the globe like Philips Healthcare, O2 Concepts, Invacare Corporation, ResMed Inc., GCE Group, Teijin Limited, Inova Labs Inc, and many others are enhancing technologies like pulse and continuous flow across portable as well as fixed concentrators. The equipment is being increasingly adopted across homecare and non-homecare applications with countries like India, Canada, Poland, Greece, and Belgium among others being major markets in this regard.
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