Global Medical Oxygen Concentrator Market Analysis, 2021

Market Overview

An oxygen concentrator is a medical device that provides oxygen to individuals with breathing problems & disorders. People who suffer from such disorders have oxygen concentration lower than usual in their blood, and hence, they require the support of an oxygen concentration device.

According to the publisher’ research report, “Global Medical Oxygen Concentrator Market Analysis, 2021,” the market is likely to grow at a CAGR of around 4.2% between (2021-26). The high requirements of oxygen concentrators are due to the increasing chronic diseases affecting the respiratory system of people. The COVID-19 pandemic brought a significant surge in their supplies. The need for these devices is likely to grow exponentially in the forecast period, especially in the medical sector for critical patients.

Impact of COVID-19

The COVID-19 pandemic drastically increased the supply of oxygen concentrators due to the soaring cases of people with breathing problems, especially in the elderly population. However, looking at the severity of the pandemic, it is more likely to increase the requirement & supply of oxygen concentrators. The governments are investing heavily, which will boost the demand for the oxygen concentrator market exponentially & globally.

Market Segmentation

North America Accounted for the Largest Market Share

As stated by the authors in their research report, “The Global Medical Oxygen Concentrator Market Analysis, 2021,” the key factors leading to the robust market growth are massive investments by the government in the revenue size due to the increasing population. Moreover, the changing lifestyles of people have resulted in the development of several chronic diseases, thereby leading to the propelling demand for medical oxygen concentrators in North America.

According to the Center for Disease Control and Prevention, around 16 million Americans suffer from breathing issues due to COPD. Moreover, on average, a million people outlast undiagnosed. Hence, the government is taking initiatives to provide better medical facilities for improving the diagnosis of respiratory problems in people, thereby increasing the demand & supply of oxygen concentrators and soaring their market in the coming years.

Hence, these factors are fueling the Medical Oxygen Concentrator market growth in the forecast period, states the author in their research report, Global Medical Oxygen Concentrator Market Analysis, 2021.

Continuous Flow Oxygen Concentrators Held the Largest Market Share

In 2019, continuous flow oxygen concentrators held the largest market share. The increasing chronic diseases & poor breathing conditions in people led to the growing demand for continuous flow oxygen concentrators. The COVID-19 pandemic has further increased their production & supply, and therefore, it is likely to witness significant growth in the forecast period.

Moreover, the continuous use of oxygen for treatments shall also expand the segment growth as the aging population & bedridden patients, which are substantial, are targeted groups for the oxygen concentrators market, thereby making a positive impact on market growth.

Portable Oxygen Concentrators Exhibits Fastest Growth

By product, the market segments into portable oxygen concentrators and home/stationary oxygen concentrators. Out of these segments, Portable Oxygen Concentrators acquired the highest market share in 2019 and are likely to continue their dominance during the forecast period. The continued growth shall primarily be due to their soaring adoption by commuters owing to their lightweight, compact size, flexibility, and higher oxygen capacity. Moreover, longer battery life, enhanced miniaturization, and integrated membrane technology are a few critical advancements in these concentrators, which are further likely to drive their adoption rate in the coming years.

Market Driver

The overcrowding in the urban area due to the rising population, changing lifestyles, and pollution-causing respiratory issues have overburdened the supply of oxygen concentrators. These are the key factors driving the growth of the medical oxygen concentrator market. Moreover, the snowballing initiatives by the government for oxygen concentrators are also likely to influence the Global Medical Oxygen Concentrator market growth in the forecast period.

Competitive Landscape

According to the publisher, the leading market players with a considerable market share in the Global Medical Oxygen Concentrator Market are Philips Healthcare, ResMed, Besco Medical Limited, Chart Industries, Inc., GCE Group, Medtronic plc, Invacare Corporation, Teijin Limited, Precision Medical, Inc., AirSep Corporation, OSI - Oxygen Solutions Inc., Nidek Medical Products, Inc., Inogen, Drive DeVilbiss Healthcare, etc.

Key Questions Answered in the Market Research Report:

1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Medical Oxygen Concentrator Market?
2. What is the industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Medical Oxygen Concentrator Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Medical Oxygen Concentrator Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Medical Oxygen Concentrator Market study?