Medical Oxygen Concentrators Market size worth over $2.7bn by 2027

Medical Oxygen Concentrators Market size is set to surpass USD 2.7 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Growing consumption of tobacco, and smoking will positively influence market growth in the coming years. According to the CDC, around 40 million adults in U.S. smoke cigarette, and nearly 4.7 million middle and high school students consume at least one tobacco product. Thus, increasing consumption of tobacco and adoption of smoking among adults will create requirement for medical oxygen concentrators in the coming years. Oxygen concentrators offer oxygen therapy and is equipped with advanced features to suit patient’s breathing pattern.
 

Increasing prevalence of respiratory diseases is further projected to impel the demand for medical oxygen concentrators. Furthermore, rising incidence of COVID-19 is expected to have positive impact on the market with its potential application in providing respiratory support to the patients and to minimizing risk of mortality. The WHO has also given guidelines for proper and safe use of oxygen concentrators during COVID-19.
 

Technological advancements in oxygen concentrators will augment the segment growth

Fixed medical oxygen concentrators market valued at USD 1.2 billion in 2020 led by the integration of advanced technologies. Fixed oxygen concentrators are easy-to-use and offer continuous flow of oxygen without interruption. In addition, growing investment on developing healthcare infrastructure in developing counties will drive the segment expansion during the forecast timeframe.
 

Timely monitoring offer to boost the demand for home care oxygen concentrator segment revenue

Home care segment dominated more than 55% of the market share in 2020. Home care medical oxygen concentrators offer better comfort to the patients and help them to recover faster. Also, growing geriatric population that is more prone to cardiopulmonary diseases, create the need for oxygen therapy. Adding to this, rising prevalence of several respiratory diseases along with availability of home care therapies is anticipated to fuel the demand for oxygen concentrators.
 

Browse key industry insights spread across 150 pages with 148 market data tables & 15  figures & charts from the report, “Medical Oxygen Concentrators Market Size By Product (Portable Medical Oxygen Concentrators, Fixed Medical Oxygen Concentrators), By Application (Home Care, Non-Homecare), By Technology (Continuous Flow, Pulse Flow), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/medical-oxygen-concentrators-market-report
 

More efficient and convenient use will spur the segment progression

Pulse flow segment in the medical oxygen concentrators market exceeded USD 1.1 billion in 2020 on account of the presence of large patient pool suffering from mild respiratory. The pulse flow technology helps in adjusting the breathing rate as per increase or decrease in patient’s breathing rate. This technology is majorly adopted by people with active lifestyle such as travelers, sports players, and working professionals. Therefore, higher technology preference and adoption will contribute to the segment demand during the forecast period.
 

Growing geriatric population base in Europe will offer growth opportunities

Europe medical oxygen concentrators market is poised to witness 3.2% growth rate through 2027. Increasing geriatric population base in the region is gradually rising the demand for oxygen concentrators. Elderly populations are prone to number of respiratory diseases such as asthma, COPD, and pulmonary hypertension that will propel demand for oxygen concentrators.
 

Product launch and expansion strategies will strengthen firms’ reach

Few of the renowned players include DeVilbiss Healthcare GmbH, Inogen Inc, Invacare Corporation, NGK Spark Plug Co. Ltd, NIDEK Medical Products, Inc, O2 Concepts and Koninklijke Phillips N.V. These companies are undertaking several business growth strategies such as acquisitions and product launch to expand their presence.