SEATTLE, Feb. 01, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global medical oxygen concentrators market is estimated to be valued at US$ 1,834 million in 2021 and is expected to exhibit a CAGR of 9.0% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Medical Oxygen Concentrators Market:
Key trends in the market include the launch of various projects by the governments to combat increasing demand for oxygen concentrators, which is expected to drive the global medical oxygen concentrator’s market growth over the forecast period. For instance, in June 2021, the Central Government of India launched ‘Project O2 for India'. This project will help the stakeholders in oxygen concentrators market to improve their ability to manufacture and meet the increasing demand for oxygen requirements. Under this project, the National Consortium of Oxygen will assist in the establishment of small oxygen plants, supply of key materials, manufacturing compressors, and final products including oxygen concentrators, oxygen plants, and ventilation systems.
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Key Market Takeaways:
The global medical oxygen concentrators market is expected to exhibit a CAGR of 9.0% during the forecast period due to increasing prevalence of sleep apnea, a serious sleep disorder in which breathing starts and stops repeatedly. For instance, according to the study, ‘Estimation of the global prevalence and burden of obstructive sleep apnea: a literature-based analysis’, published in July 2019, 936 million adults aged 30–69 years have mild to severe obstructive sleep apnea and 425 million adults aged 30–69 years have moderate to severe obstructive sleep apnea, globally.
Among modality, portable segment is expected to hold a dominant position in the global medical oxygen concentrators market in 2021.This is attributed to the wide use of portable oxygen concentrators at home and hospitals for the treatment of COVID-19 cases. Moreover, various advantages offered by the portable oxygen concentrators such as small size, light weight, cost effectiveness, and others is expected to drive demand for portable oxygen concentrators over the forecast period.
On the basis of technology, pulse flow segment is expected to dominate the market in 2021, and is expected to retain its dominance over the forecast period. Pulse flow oxygen concentrator is based on the breathing rate and depends on the amount and intensity of each breathe you take. The pulse technology detects when you are about to inhale and delivers a bolus (pulse dosage) of oxygen.
Competitive Landscape:
Key players operating in the global medical oxygen concentrators market include Inogen Inc., Invacare Corporation, OxygenToGo, LLC, Koninklijke Philips N.V., ResMed Inc., Drive DeVilbiss Healthcare LLC, Precision Medical, Inc., Besco Medical Co. Ltd., O2 Concepts, LLC, and GCE Group.
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Market Segmentation:
- Global Medical Oxygen Concentrators Market, By Modality:
-
- Portable
- Stationary
- Global Medical Oxygen Concentrators Market, By Technology:
- Pulse Flow
- Continuous Flow
- Global Medical Oxygen Concentrators Market, By End User:
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- Hospital
- Home Care
- Ambulatory Surgical Centers
- Global Medical Oxygen Concentrators Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
Related Market Intelligence Reports:
Respiratory Devices Market, By Product Type (Respiratory Consumables (Respiratory Mask, Nasal Cannulas, Tracheostomy Tubes and Oxygen Tubes, Other Accessories and Consumables), Nebulizers (Compressed Jet Nebulizers, Ultrasonic Nebulizers, Mesh Nebulizers), Oxygen Concentrators (Home Oxygen Concentrators, Portable Oxygen Concentrators), Positive airway pressure devices, Polysomnography Devices (Ambulatory PSG, Clinical PSG), Pulse Oximeters, Mechanical Ventilators, Spirometers), By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Long Term Care Centers, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Breathing Machines Market, by Product Type (PAP Devices, Nebulizers, Ventilators, and Oxygen Concentrators), by End User (Hospitals and Clinics, and Home Care Settings), and by Region – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026
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