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Medical Oxygen Concentrators Market Size

Report ID: GMI449
Published Date: Dec 2021
Report Format: PDF

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Medical Oxygen Concentrators Market Size

Medical Oxygen Concentrators Market size exceeded USD 2.5 billion in 2020 and is expected to grow at a CAGR of over 3.3% between 2021 and 2027.

Sudden surge in COVID-19 cases has boosted the demand for medical oxygen concentrators. The COVID-19 is a contagious infection precipitated by severe acute respiratory syndrome. Amid pandemic, the critically ill patients suffering from acute respiratory syndrome accounted for nearly 15-26% of the total cases. Thus, increasing demand for intensive critical care coupled with large patient pool requiring oxygen therapy will accelerate the market growth.

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In COVID-19, oxygen therapy was the core of the disease management. It can also support patients for days to weeks and is thereby widely used to treat infectious diseases. Furthermore, numerous key industry players and several government bodies in the world have ramped up their oxygen concentrators manufacturing to meet the patient demand.

Medical Oxygen Concentrators Market Report Attributes
Report Attribute	Details
Base Year:	2020
Medical Oxygen Concentrators Market Size in 2020:	USD 2.6 Billion
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	3.3%
2027 Value Projection:	USD 2.9 Billion
Historical Data for:	2016 to 2020
No. of Pages:	150
Tables, Charts & Figures:	163
Segments covered:	Product, Application, Technology and Region
Growth Drivers:	Growing incidence of COVID-19 Globally increasing elderly population base Rising COPD prevalence worldwide Increasing government initiatives Rise in healthcare spending Increasing adoption of smoking and tobacco consumption
Pitfalls & Challenges:	Stringent regulatory landscape High cost of the device

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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

The market size of medical oxygen concentrators was nearly USD 2.5 billion in 2020 and will record a CAGR of more than 3.3% through 2027 due to the alarmingly rising COVID-19 cases and the thriving demand for intensive critical care and oxygen therapy.

Medical oxygen concentrators provide supplementary oxygen for patients affected with chronic obstructive pulmonary disease (COPD) as well as severe chronic hypoxemia and pulmonary edema.

The portable medical oxygen concentrators is set to observe a 5.2% growth rate up to 2027, as they are largely used to tend to various respiratory disorders, like pneumonia, COPD, and lung cancer to offer compact size, portability, and affordability.

The non-homecare application segment was responsible for over 35% of the medical oxygen concentrators market share in 2020 owing to higher adoption for oxygen therapy in critical patient treatment across hospitals.

North America held more than 40% of revenue share in 2020 driven by the expanding elderly population and high prevalence of COPD in the region.