Medical Oxygen Concentrators Market
Medical Oxygen Concentrators Market (Modality - Portable Oxygen Concentrators and Stationary Oxygen Concentrators; Technology - Pulse Flow Technology and Continuous Flow Technology; End User - Hospitals, Home Care, and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global Medical Oxygen Concentrators Market: Overview
The global population is majorly affected by chronic obstructive pulmonary disease. This condition is taking the life of many people across the globe. Since, this disease affects the respiratory system of the patients, they are unable to breath. Hence, the doctors provide oxygen to the patient externally. This is the major factor that is boosting the growth of global medical oxygen concentrators market. Moreover, the growth is also attributed to demand for oxygen concentrators during surgery of internal organs. These demands are propelling the growth of global medical oxygen concentrators market from 2016 to 2024.
The report by Transparency Market Research provides complete analysis of the global medical oxygen concentrators market. It covers facets such as challenges, developments, trends, and drivers that are prevalent in the global medical oxygen concentrators market.
The report states that global medical oxygen concentrators market is expected to witness a substantial 8.5% CAGR which will help the market to reach to the value of US$ 2.41 bn rising from US$ 1.25 bn by the end of 2024.
The worldwide medical oxygen concentrators market is exceptionally competitive and is divided between a few conspicuous players. This therefore is representing an extreme test for the new players that are eager to enter the medical oxygen concentrators market.
To conquer this test the new players are embracing systems, for example, merger and joint efforts. The procedures are helping the new players to oblige assets that can help extension of their activity. These tasks are liable for the development of players as a business in their individual area. This is the explanation the new players ready to enter the medical oxygen concentrators market are embracing these methodologies.
Then again, the veterans are obtaining a few organizations to grow their creation limit and appropriation channel. This as result is helping them to reach to more extensive crowd and grow their business at a phenomenal level. Accordingly, these players can produce more benefit and increase a monitory edge over the adversaries. In addition, these methodologies additionally help the built up players to reinforce their situation in the medical oxygen concentrators market during the estimate time of 2016 to 2024.
Global Medical Oxygen Concentrators Market: Drivers and Trends
Increasing Cases of Respiratory Diseases
Developing grouping of carbon dioxide, contamination, and other hurtful gases in the earth has brought about high predominance of asthma and a few other respiratory issue. Enormous number of geriatric populace is additionally expected to drive the interest in the medicinal oxygen concentrators advertise. Rising occurrence of respiratory maladies has drawn consideration of different organizations that are currently taking a shot at creating progressed and imaginative answers for treat these illnesses. Besides, the Federal Aviation Administration has affirmed the utilization of compact oxygen concentrators in airplane, which is additionally expected to drive the interest in the medical oxygen concentrators market.
Global Medical Oxygen Concentrators Market: Segmentations
The report classifies the global medical oxygen concentrators market into various segments to provide better understanding to the readers. These information help the readers to make better decisions in the future and make more profit through their business in global medical oxygen concentrators market. These segments are on the basis of modality, end-users, technology, and geography.
On the basis of modality the global medical oxygen concentrators market is segmented into portable and stationary medical oxygen concentrators. Among these segments the portable medical oxygen concentrators are expected to dominate the global medical oxygen concentrators market. This is because these medical oxygen concentrators are required in various verticals such as airplanes, industries and various others.
Other segments on the basis of continuous flow technology and pulse flow technology, whereas end-users is divided into Hospitals, dental clinics, home care, and ambulatory surgical centers.
Global Medical Oxygen Concentrators Market: Regional Segmentation
Asia Pacific is witnessing a major surge in the global medical oxygen concentrators market. This is because of the development and improvement of healthcare services in India and China. These developments have stimulated the players to focus their interest in this region. This as a result is boosting the dominance of Asia Pacific in global medical oxygen concentrators market from 2016 to 2024.
Medical Oxygen Concentrators Market: Outbreak of COVID-19 paved way for vast Growth opportunities
The vast rise in the prevalence of respiratory diseases that are related to smoking, environmental pollution, and lifestyle choices is creating demand for medical devices for respiratory care, including medical oxygen concentrators. The high prevalence of chronic obstructive pulmonary disease that needs to be managed using suitable respiratory devices further accentuates demand for medical oxygen concentrators.
Over the past year, the outbreak of COVID-19 which directly impacts the lungs has created vast rise in demand for medical oxygen concentrators. The pandemic has which led to unprecedented human and economic loss due to a virus that affects the lungs has led to a vast rise in demand for respiratory care devices. This includes the use of medical oxygen concentrators and ventilators for individuals who are severely affected by the virus leading to serious infection in the lungs.
Asia Pacific is emerging as a key region in the overall medical oxygen concentrators market. The modernization of healthcare infrastructure in several countries of the region is a key factor spawning demand for avant-garde medical devices including medical oxygen concentrators. Thus, the region is emerging as a hotbed of opportunities for players in the medical oxygen concentrators market. Besides this, a rising patient pool with respiratory disorders is fuelling the medical oxygen concentrators market in the region.
Nonetheless, North America and Europe account a significant share in the overall revenue of the medical oxygen concentrators market. Rapidly rising geriatric population and prevalence of smoking that are associated with respiratory disorders spell demand for medical oxygen concentrators in these regions.
Competition in the medical oxygen concentrators market is fairly intense with the presence of a number of large players in the fray. Product development and product innovation are some organic growth strategies of keen players in the medical oxygen concentrators market. Mergers and acquisitions, geographical expansion, and business alliances are some other growth strategies lare players are engaged in.
Global Medical Oxygen Concentrators Market: Overview
Medical oxygen concentrators are used by patients suffering from COPD and other respiratory diseases. Patients having low level of oxygen in their blood are prescribed to use oxygen concentrators. Oxygen concentrators are to be used only with prescription and cannot be purchased over the counter. Medical oxygen concentrators work either on rechargeable lithium batteries or by continuous electric supply. The medical oxygen concentrators are produces oxygen from the surrounding air. It works on the principle of compression of air by which the concentrators are prevented from overheating. After taking the air from the surrounding nitrogen is removed through the air filters and with adjusted delivery rate purifies oxygen is delivered to the patients with the help of nasal cannula or mask. The global medical oxygen concentrators market is segmented by modality, technology, end users and geography. By modality the global medical oxygen concentrator market is further segmented into portable oxygen concentrators and stationary oxygen concentrators. According to technology the market is segmented further by pulse flow technology and continuous flow technology. By end users the market is segmented into hospitals, home care and ambulatory surgical centers. In terms of geography the global medical oxygen concentrators market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Global Medical Oxygen Concentrators Market: Research Methodologies
The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of the medical oxygen concentrator market in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for each by modality, technology, end user, and geography for the period 2014 to 2024, considering the macro and micro environmental factors. The revenue generated from each product was calculated by considering number of products used in the procedures and their market demand as per their use, prevalence rate of disease, number of product launched, annual revenue generated by products of each sub segment, trends in industry, end user trend, and adoption rate across all the geographies.
Global Medical Oxygen Concentrators Market: Scope of the Study
The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on modality, technology, end-user, and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influences the medical oxygen concentrators market in the current and future scenario.
Market share analysis among the market players is analyzed to signify the contribution of these players in the market in terms of percentage share. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market. Based on geography, the market has been analyzed for major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The study also covers detailed country analysis contributing majorly in the monoclonal antibody therapeutics market.
Global Medical Oxygen Concentrators Market: Competitive Landscape
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in the monoclonal antibody therapeutics market are Chart Industries, Inc., Inogen, Inc., Invacare Corporation, Koninklijke Philips N.V., Resmed Inc., Drive DeVilbiss Healthcare LLC., Precision Medical, Inc., Besco Medical Co. Ltd., O2 Concepts LLC, GCE Group and others.
The medical oxygen concentrators market has been segmented as follows:
by End User