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What's driving the Asia Pacific Medical Oxygen Concentrators Market share? Key playrs are Philips, Inogen, Invacare Corporation, Teijin, Nidek Medical Products, Inc.
Asia Pacific Medical Oxygen Concentrators Market
Increasing number of baby boomers in Asia Pacific will act as primary driver for medical oxygen concentrators market growth in the region. Elderly people are prone to suffer from various respiratory conditions leading to high demand for medical oxygen concentrators in the region.
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Changing lifestyle habits including increased rate of tobacco smoking along with elevated pollution levels will increase incidence rate of respiratory diseases thereby fueling business growth. Several initiatives such as the ‘Global Initiative for Chronic Obstructive Lung Disease’ working for diagnosis, prevention and management of chronic obstructive lung disease should positively impact industry growth.
Countries in Asia Pacific such as China have high level of air pollution due to surge in number of motorized vehicles, economic boom, output from manufacturing, high population growth and others. The extensive air pollution in the country leads to increasing patient population suffering from respiratory problems thereby stimulating medical oxygen concentrators demand. However, less awareness about medical oxygen concentrators coupled with stringent regulations will limit industry expansion to certain extent over the forecast timeframe.
Portable medical oxygen concentrators market was valued at USD 145.0 million in 2017. Growing demand and adoption of portable systems will drive Asia Pacific portable medical oxygen concentrators market over the forecast timeframe. Technological advancements including compact size, enhanced battery life and increased efficiency of portable systems will drive industry growth.
Asia Pacific homecare medical oxygen concentrators market is forecasted to witness 11.5% CAGR over the forecast timeframe. Momentous growth of home healthcare sector due to its cost effectiveness and reduced chances of suffering from nosocomial infections will drive industry growth over the coming years.
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Pulse flow medical oxygen concentrators accounted for more than 45% revenue share in 2017. Pulse flow technology is majorly used in portable medical oxygen concentrators. Growing demand for portable devices will drive growth of Asia Pacific pulse flow medical oxygen concentrators market.
Asia Pacific medical oxygen concentrators market was led by China and is estimated to show a positive trend throughout the analysis period. India medical oxygen concentrators market is forecasted to follow China medical oxygen concentrators market progressing at 11.6% CAGR throughout the forecast timeframe. Growing number of people suffering from respiratory diseases coupled with technological advancements in the device will drive Asia Pacific medical oxygen concentrators industry. Numerous efforts undertaken by government to reduce respiratory disease burden will positively impact medical oxygen concentrators adoption in the region.
Major companies functioning in Asia Pacific medical oxygen concentrators include Philips, Inogen, Invacare, Teijin, Nidek Medical among others. Industry players are adopting strategies such as acquisition and new product launch to expand their product portfolio as well as elevate market position. For instance, in October 2017, Invacare Corporation launched improved Invacare platinum mobile oxygen concentrator with connectivity, to strengthen its healthcare product offerings and gain significant market share.
Segments we cover:
Asia Pacific Medical Oxygen Concentrators Market Statistics, By Product
Portable
Fixed
Asia Pacific Medical Oxygen Concentrators Market Growth, By Application
Home care
Non-Home care
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Asia Pacific Medical Oxygen Concentrators Market Trends, By Technology
Pulse flow
Continuous flow
The above information is provided for the following region and countries:
China
Japan
India
Australia
South Korea
Malaysia
Indonesia
Thailand
Singapore
Taiwan
Vietnam
Others
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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