Medical Oxygen Concentrator Market is Segmented by Product Outlook (Revenue, USD Million, 2020 - 2027) of Portable Medical Oxygen Concentrator, Stationary Medical Oxygen Concentrator and Others. Application Outlook (Revenue, USD Million, 2020 - 2027) by Home, Hospital, Traveling and Others.
Medical oxygen concentrator market size was estimated at USD _43.7 million in 2020 and is forecast to reach USD _87.9 million by 2027, growing at a CAGR of _9.6%.
An oxygen concentrator is a special medical machine that filters the air surrounding a patient and transports this clean air to the patient in need of oxygen. This device is mainly used in hospitals and medical transportation vehicles such as ambulances and helicopters. It is also used for patients that are dependent on oxygen in the home environment for patients who have breathing difficulties or problems with their lungs.
Recently there has been a huge increase in demand for medical oxygen concentrator and the demand is predicted to continue growing. This is because the elderly population that is prone to chronic diseases is growing as well as a huge increase in the number of cigarette smokers. There has also been an increase in demand due to the coronavirus and the effects it has on the respiratory system.
This growing demand is causing a huge problem for suppliers as they are unable to meet this growing demand which means these medical devices are given to patients with the most severe symptoms and have the best chance of survival. This means that other patients who may need these devices may not have access to them and this could cause a lot of patients to suffer and potentially die.
Medical Oxygen Concentrator Market Growth and Trends
Growing prevalence of Chronic Obstructive Pulmonary Diseases and increasing technological advancements for the miniaturization of the oxygen concentrators are some key factors expected to drive the market in the forthcoming years. In addition, manufacturers are bringing up innovative technologies in concentrators that aim at improving the quality of care, which fosters high demand for medical oxygen concentrators. This technology monitors patients and regularly sends the data related to oxygen purity, device location, and battery life to the provider and patient’s family members. Such advancements in portable concentrators naturally expand the consumer base and hence create demand for these oxygen concentrators. The long-term use of supplemental oxygen has improved the survival rate of patients with lung diseases, and therefore their dependency on oxygen therapy products are key factors in bolstering the demand for oxygen concentrators and cylinders. Increasing expenditure on healthcare, improved medical facilities, and rapid technological advancements have increased the life expectancy of people worldwide. However, the geriatric population is more prone to lung disorders and cardiovascular disorders owing to a frail immune system, and hence the demand for these concentrators is constantly on the rise among this age group. Moreover, the oxygen concentrators market has been directly impacted by the outbreak of Covid-19, which is a consequence of a significant shortage of ventilators globally for affected patients. To bridge this shortage, scientists and biomedical engineers have developed makeshift devices to emulate the basic functionality of ventilators using devices that already exist, such as oxygen concentrators, anaesthesia machines, PAP devices, and manual resuscitators, which therefore raises the demand for oxygen concentrators leading to a directly proportional market growth.
Challenges in the oxygen concentrator market would have to do with their transportation and logistics owing to slowdown in the supply chain. However, this is only temporary and will ease in a few months.
Medical Oxygen Concentrator Market Competition
Key companies operating in this industry are Invacare, Teijin Pharma, Chart Industries, Inogen, Yuyue Medical, Philips,, DeVilbiss Healthcare, AVIC Jianghang, GF Health Products, Linde, Nidek Medical, Air Water Group, Precision Medical, Haiyang Zhijia, Shenyang Canta, O2 Concepts, Inova Labs, Foshan Kaiya, Longfei Group, Beijing North Star, SysMed, Beijing Shenlu and Gaoxin Huakang.
• Medical Oxygen Concentrator Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Medical Oxygen Concentrator Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Portable Medical Oxygen Concentrator
• Stationary Medical Oxygen Concentrator
Application Outlook (Revenue, USD Million, 2020 - 2027)
Country (Revenue, USD Million, 2020 - 2027)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
The Middle East and Africa
• Saudi Arabia
Medical Oxygen Concentrator Market Companies
• Teijin Pharma
• Chart Industries
• Yuyue Medical
• DeVilbiss Healthcare
• AVIC Jianghang
• GF Health Products
• Nidek Medical
• Air Water Group
• Precision Medical
• Haiyang Zhijia
• Shenyang Canta
• O2 Concepts
• Inova Labs
• Foshan Kaiya
• Longfei Group
• Beijing North Star
• Beijing Shenlu
• Gaoxin Huakang
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