Global Oxygen Concentrators Market likely to grow at a CAGR of 4.2% during 2021-2026

According to the MarkNtel Advisors' research report, "Global Oxygen Concentrators Market Analysis, 2021," the market is likely to grow at a CAGR of 4.2% in the forecast period of 2021-26. The increasing requirement for oxygen concentrators is primarily due to the chronic diseases affecting the respiratory system of people. With the robust government investments to improve the supply chain & management in the region, the demand for these devices is likely to grow in the forecast period, especially in the medical sector among critical patients.

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Key questions answered in the study
1. What are the current and future trends in the Global Oxygen Concentrators Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Oxygen Concentrators Market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Oxygen Concentrators Market service providers across regions?

Impact of COVID-19
The COVID-19 outbreak heavily impacted the oxygen concentrators market due to a significant deficit of ventilators globally. To subdue the shortage, scientists & biomedical engineers developed alternative devices to enable the basic functionality of ventilators using existing mechanisms, such as oxygen concentrators. Since most COVID-19 cases require ventilation, the demand for oxygen concentrators is witnessing a significant rise at present times, and the same is evident in the forecast period due to recent advancements made by various market leaders.

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"Global Oxygen Concentrators Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, factors impacting the market growth, hotspots, and opportunities available for Medical Oxygen Concentrator providers across the world. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

Portable Oxygen Concentrators Exhibits Fastest Growth

By product, the market segments into portable oxygen concentrators and home/stationary oxygen concentrators. Out of these segments, Portable Oxygen Concentrators acquired the highest market share in the previous years and are likely to continue their dominance during the forecast period too. The continued growth shall primarily be due to their soaring adoption by commuters owing to their lightweight, compact size, flexibility, and higher oxygen capacity. Moreover, longer battery life, enhanced miniaturization, and integrated membrane technology are a few other critical advancements in these concentrators that are further likely to drive their adoption rate in the coming years.

According to MarkNtel Advisors, the major leading players in the Global Oxygen Concentrators Market are Philips Healthcare, ResMed, Besco Medical Limited, Chart Industries, Inc., GCE Group, Medtronic plc, Invacare Corporation, Teijin Limited, Precision Medical, Inc., AirSep Corporation, Oxygen Solutions Inc., Nidek Medical Products, Inc., Inogen, Drive Devilbiss Healthcare, etc.

Market Segmentation:
1. By Type (Portable, Stationary)
2. By End-User (Residential, Non-Residential)
3. By Technology (Continuous Flow, Pulse Flow)
4. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
5. By Flow Level (0 - 5 LPM, 5.1 - 10 LPM, Above 10 LPM)
6. By Competitors (Philips Healthcare, ResMed, Besco Medical Limited, Chart Industries, Inc., GCE Group, Medtronic plc, Invacare Corporation, Teijin Limited, Precision Medical, Inc., AirSep Corporation, etc.)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.