Press release
Medical Oxygen Concentrators Market in North America to Exhibit Phenomenal Growth of USD 1.0 Bn Over 2019 – 2025
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According to the Graphical Research new growth forecast report titled “North America Medical Oxygen Concentrators Market Size By Product (Portable, Fixed), By Application (Home Care, Non-Homecare), By Technology (Continuous Flow, Pulse Flow), Industry Analysis Report, Country Outlook (U.S., Canada), 2018-2025”, estimated to exceed USD 1.0 Billion By 2025.
Growing population consuming tobacco and adopting smoking will be high impacting factor for North America medical oxygen concentrators business growth. According to CDC, fourteen among every 100 adults in the U.S. smoked cigarette in 2017. Smoking increases the probability of suffering form COPD and other respiratory diseases. Thus, rising adoption of smoking among adults will augment North America medical oxygen concentrators industry growth.
However, strict regulatory requirements and policies for the product may hamper medical oxygen concentrators industry growth in forthcoming years.
Fixed medical oxygen concentrators was valued at over USD 257.0 million in 2017. Fixed oxygen concentrators are available at significantly low cost compared to portable oxygen concentrators. Moreover, higher oxygen output with fixed medical oxygen concentrators will impel the product demand in the upcoming years.
Non-homecare medical oxygen concentrators is forecasted to proceed at 5.4% CAGR over the forecast timeframe. Increasing patient admissions owing to growing respiratory diseases will escalate the adoption of non-homecare medical oxygen concentrators. Rising geriatric population will further increase the need and thus demand for such medical oxygen concentrators over the forecast period.
Continuous flow medical oxygen concentrators accounted for about 52% revenue share in 2017. Preferable use of continuous flow medical oxygen concentrators in emergency cases will positively impact segmental share. Availability of such devices in convenient and light weight will boost the demand for continuous flow medical oxygen concentrators over the foreseeable future.
North America medical oxygen concentrators market was led by U.S. medical oxygen concentrators market and is estimated to show a positive trend throughout the projection period. Canada medical oxygen concentrators business is forecasted to follow U.S. medical oxygen concentrators market progressing at 9.6% CAGR by throughout the forecast timeframe. Canada spent around 10.4% of the total GDP on healthcare sector in 2014. Healthcare spending in Canada is continuously increasing and the trend is anticipated to continue over forecast timeframe. Additionally, favorable demographics such as rising number of baby boomers will highly impact Canada medical oxygen concentrators industry growth.
Major market players in North America medical oxygen concentrators market are Invacare Corporation, Inogen, Philips Healthcare and Inova Labs (ResMed) among other industry participants. These market players are undertaking strategies such as technology development and acquisitions to gain market presence and for company expansion. For instance, in September 2015, O2 Concepts introduced Dynamic Network Analysis platform that connects all the medical oxygen concentrators via Verizon network.
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1168/north-america-medical-oxygen-concentrators
Segments we cover:
North America Medical Oxygen Concentrators Market, By Product
Portable
Fixed
North America Medical Oxygen Concentrators Market, By Application
Home care
Non-Home care
North America Medical Oxygen Concentrators Market, By Technology
Pulse flow
Continuous flow
Contact Us:
Parikhit B.
Corporate sales,
Graphical Research
Email: sales@graphicalresearch.com
Web: https://www.graphicalresearch.com
About Graphical Research:
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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