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Medical Oxygen Concentrators Market: Top Players are Philips, Invacare Corporation, DeVilbiss Healthcare, Chart Industries, Inc., Nidek Inc., Inogen, AirSep Corporation, O2 Concepts, Teijin, Jiangsu Yuyue Medical Equipment & Supply Co., Ltd.

08-03-2018 03:28 PM CET | Health & Medicine

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Medical Oxygen Concentrators Market

Medical Oxygen Concentrators Market

The accelerated pace of medical oxygen concentrators market share expansion can be primarily accredited to the rising prevalence of chronic obstructive pulmonary disease (COPD) coupled with escalating number of cigarette smokers across the globe. As per the estimates published in the Global Burden of Disease Study, a comprehensive report collated by World Health Organization, an overwhelming 251 million cases of COPD were recorded globally in the year 2016. In addition to this, a marked increase in the geriatric populace, that is prone to chronic ailments such as COPD and cystic fibrosis, has further augmented the growth prospects of medical oxygen concentrators industry in the recent years.

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Elaborating further, the report, which assesses mortality and disability caused by major diseases, further claims that about 3.17 million deaths were caused by COPD in the year 2015 and 90% of these deaths apparently occurred in low and middle-income nations. The presence of higher amounts of smoke and dust across various industrial and manufacturing sectors has aggravated the levels of air pollution in emerging nations. Owing to the fact that people residing in such highly-polluted regions of emerging countries face an above-average risk of respiratory ailments, the commercialization potential of the medical oxygen concentrators market across these terrains can be termed as humongous.

Growth Drivers:
1. Government and private institution initiatives worldwide
2. Globally increasing elderly population base prone to COPD
3. Increased spending on healthcare
4. Growing COPD prevalence worldwide
5. Exposure to dust particles and increasing number of cigarette smokers in U.S. and emerging economies

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Prominent players of global medical oxygen concentrators market are Chart Industries (AirSep), DeVilbiss Healthcare GmbH (Drive DeVilbiss International), Inogen, Inova Labs (ResMed), Invacare, Koninklijke Philips N.V. Philips Healthcare, NIDEK Medical Products, O2 Concepts, Teijin Limited, Yuwell (Jiangsu Yuyue Medical Equipment & Supply).

Concurrently, it would be prudent to cite the efforts being undertaken by major companies to realign production strategies in a bid to solidify their stance in the global medical oxygen concentrators industry. One of the significant instances that needs mention is that of the United States based leading manufacturer of highly engineered equipment for energy and biomedical sector, Chart Industries Inc. Apparently, the firm had announced in 2016 that it would restructure its engineering and manufacturing operations within its BioMedical Group to acquire a significant portion of the ever-increasing medical oxygen concentrators market share in the ensuing years.

The company further declared to establish a Respiratory Center-of-Excellence in Georgia where manufacturing, marketing, and sales activities would be integrated to seamlessly deliver advanced oxygen concentrators to healthcare institutions. Taking into account the instance of Chart Industries it is quite apparent that prominent players in medical oxygen concentrators market are increasingly stressing upon strategic tactics like organizational realignment which would aid them in developing high-grade products in the times to come.

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