10-Apr-2018 | Zion Market Research
Zion Market Research has published a new report titled “Medical Oxygen Concentrators Market by Product (Portable, Fixed) by Technology (Continuous Flow, Pulse Dose) by Application (Home Care, Non-home care): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2023”. According to the report, global medical oxygen concentrators market was valued at approximately USD 1,130.52 million in 2017 and is expected to generate revenue of around USD 2,126.00 million by end of 2023, growing at a CAGR of around 11.10% between 2017 and 2023.
Medical oxygen concentrators provide cost-effective oxygen treatment for patients to supplement oxygen and eliminate the need for bulky and heavy oxygen tanks. Personal oxygen concentrator pulls-in regular room air filters out some of the other gases present and delivers concentrated, medical-grade oxygen. Growing incidences of COPD among people will increase demand for the product. COPD causes due to prolonged exposure to harmful fumes of chemical, air pollutants, dust, and smoking. Growing prevalence of smoking among young population coupled with rising pollution levels pollution will further drive medical oxygen concentrators market growth over the forecast timeframe. However, the existence of stringent regulations for medical oxygen concentrators and time-consuming approval process may restrain industry growth.
Browse the full report “Medical Oxygen Concentrators Market by Product (Portable, Fixed) by Technology (Continuous Flow, Pulse Dose) by Application (Home Care, Non-home care): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2023 ” report at https://www.zionmarketresearch.com/report/medical-oxygen-concentrators-market
Oxygen concentrator technologies are focusing on clinical sound therapy. Oxygen therapy is used in the treatment of hypoxaemia, which involves delivery of concentrated oxygen to the patient to improve and stabilize blood oxygen saturation. Guidelines associated with the safe administration of oxygen vary for various applications; flow rate and concentration of oxygen delivered depends on the age and severity of the patient. Usage of oxygen concentrators has been still limited owing to the insufficient maintenance, selection, training, and procurement of high-quality devices.
Based on product, the medical oxygen concentrators market is segmented into portable and fixed. Portable medical oxygen concentrators are anticipated to gain highest revenue share. The growth is attributed due to increased demand for lightweight and safe medical oxygen concentrators.
On the basis of technology, the market is segmented as a continuous flow and pulse dose. Continuous flow technology held major revenue share. Rising prevalence of COPD globally coupled with increasing adoption rate of technologically advanced products is predicted to drive segment growth. Pulse dose technology is expected to experience high growth rate due to the introduction of enhanced technology products.
Based on application, medical oxygen concentrators market is segmented as home care and non-home care. Home care segment is expected to contribute for highest revenue in 2017. Growing demand for home care oxygen concentrators, as it makes easier for patients suffering from COPD and other respiratory illness to complete their routine activities.
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global medical oxygen concentrators market. North America followed by Europe are anticipated to remain the leading regions over the forecast period. The growth is attributed due to favorable reimbursement policies and well-established healthcare facilities and in the region. Furthermore, government initiatives such as the existence of Federal Aviation Administration (FAA) through which portable oxygen concentrators are authorized. The Asia Pacific is expected to fastest growth rate over the forecast period. Increasing disposable income of people and changing diet pattern and lifestyle-related change of the population in this region are the foremost driving factors for medical oxygen concentrators market in the region.
Some of the key players in sleep apnea devices market include Inogen, O2 Concepts, Philips Respironics, Teijen, Invacare, Covidien, AirSep, Nidek Medical, and DeVilbiss Healthcare. Companies are mostly focusing on the development of new products, mergers & acquisition strategies to gain major revenue share and maintain their foothold in the market.
This report segments the global medical oxygen concentrators market as follows:
Global Medical Oxygen Concentrators Market: Product Segment Analysis
Global Medical Oxygen Concentrators Market: Technology Segment Analysis
Global Medical Oxygen Concentrators Market: Application Segment Analysis
Global Medical Oxygen Concentrators Market: Regional Segment Analysis
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