Medical Oxygen Concentrators Market 2025 Industry Growth, Size, Share, Future Development by Top Companies Analysis- Yuwell, Teijin Ltd., O2 Concepts, NIDEK Medical Products Inc., Koninklijke Philips N.V. Philips Healthcare, Invacare Corp., Inova Labs Inc
Global medical oxygen concentrators market is expected to be worth USD 2.6 billion by the year 2025. Rising levels of air pollution has enhanced the frequency of COPD among the population.
Increasing focus on improving patient's quality of life along with escalating healthcare expenditure are prime factors fostering the demand for medical oxygen concentrators. Favorable reimbursement policies and technological advancements in medical oxygen concentrators are driving the market growth. However, strict regulatory scenario for equipment production and usage may act as a restraining factor for the overall market growth.
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As per the regional analysis, the U.S. medical oxygen concentrators industry was worth USD 519.7 million in 2018 and is predicted to grow consistently during the study period. Rising geriatric population who are vulnerable to chronic conditions such as COPD and asthma along with favorable reimbursement scenario are promoting the business scenario in the U.S.
On the other hand, portable segment held a substantial market share in 2018 and will witness similar growth in the subsequent years, primarily due to convenience and easy handling of the product.
The prominent companies operating in medical oxygen concentrators industry are Yuwell, Teijin Ltd., O2 Concepts, NIDEK Medical Products Inc., Koninklijke Philips N.V. Philips Healthcare, Invacare Corp., Inova Labs Inc. (ResMed), Inogen Inc., DeVilbiss Healthcare GmbH and Chart Industries (AirSep) among others.
Citing the application spectrum, medical oxygen concentrators market from non-home care segment generated USD 520 million in 2018 and is expected to register consistent growth throughout the forecast period. Rising elderly population and increasing usage of medical oxygen concentrators in hospitals, nursing homes, and elderly care centers are aiding the segmental growth.
Based on the product landscape, the report states that fixed medical oxygen concentrators market segment is presumed to expand with a CAGR of 5.5% during 2019-2025. The equipment has a superior oxygen output and is relatively affordable.
In terms of technology scope, the report cites that continuous flow segment held 51% revenue share in 2018 and is poised to acquire commendable gains by the year 2025, on account of technological improvements and surging usage of equipment for emergency situations.
Alternatively, Japan held 39% share in Asia-Pacific medical oxygen concentrators industry in 2018. Rising pollution levels has enhanced the prevalence of chronic diseases in the country. Availability of advanced healthcare infrastructure is augmenting the Japan market share.
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Frequently Asked Questions (FAQ):
What factors are influencing the demand for medical oxygen concentrators across the globe?
Increasing focus on improving patient's quality of life along with escalating healthcare expenditure are prime factors fostering the demand for medical oxygen concentrators.
Will United States emerge as lucrative revenue pocket from medical oxygen concentrators industry players?
Rising geriatric population who are vulnerable to chronic conditions such as COPD and asthma along with favorable reimbursement scenario are promoting the business scenario in the U.S.
How is the competitive terrain of medical oxygen concentrators industry defined?
The prominent industry contenders are Yuwell, Teijin Ltd., O2 Concepts, NIDEK Medical Products Inc. and Koninklijke Philips N.V. Philips Healthcare among others.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Medical Oxygen Concentrators Industry Insights
Chapter 4. Medical Oxygen Concentrators Market, By Product
Chapter 5. Medical Oxygen Concentrators Market, By Application
Chapter 6. Medical Oxygen Concentrators Market, By Technology
Chapter 7. Medical Oxygen Concentrators Market, By Region
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