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Medical Oxygen Concentrators Market Size Worth USD 2.3 Billion in 2032 | Emergen Research
Medical Oxygen Concentrators Market
Medical oxygen concentrators play a vital role in healthcare, as they extract and purify oxygen from ambient air for patients experiencing low oxygen levels. This is particularly essential for individuals suffering from conditions like COPD and asthma, which are exacerbated by polluted air. According to the World Health Organization (WHO), nearly 6.7 million premature deaths occur annually due to air pollution-related health issues, underscoring the critical need for effective oxygen therapy solutions.
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Key Factors Driving Market Growth
Increase in Portable and Homecare Solutions:
With more people seeking home-based oxygen therapy, the demand for portable and homecare oxygen concentrators is rising. Unlike traditional oxygen tanks, these devices filter surrounding air, making them more convenient for patient use. Companies like OxyGo have launched innovative products designed for home care, significantly contributing to market growth.
Rise in Respiratory Diseases:
The increasing incidence of respiratory diseases globally-triggered by factors like pollution, smoking, and genetic predisposition-has propelled the demand for medical oxygen concentrators. COPD is particularly alarming, being a leading cause of death, with the WHO reporting over 3.2 million deaths in 2019 attributed to the disease.
Impact of the COVID-19 Pandemic:
The recent COVID-19 pandemic has further amplified the need for oxygen concentrators, with governments and organizations worldwide stepping up initiatives to provide these essential devices to affected regions. For instance, the U.S. government donated oxygen concentrators to Haiti to combat the pandemic.
Technological Advancements:
Continuous innovation in medical oxygen concentrator technology is improving their efficacy and user-friendliness. Portable oxygen concentrators (POCs) are particularly popular among patients, offering high oxygen output in a lightweight and easy-to-use design. The development of molecular sieve and membrane oxygen enrichment technologies is enhancing the production and reliability of these devices.
Market Challenges
Despite the promising growth, the medical oxygen concentrator market faces challenges, including high product costs, especially in developing countries, and strict regulatory requirements that new products must meet before entering the market. Awareness of portable oxygen solutions remains low in low-income populations, further limiting market expansion.
Market Segmentation Insights
The medical oxygen concentrators market is categorized into two primary segments: portable and stationary/fixed concentrators. Currently, stationary concentrators dominate the market due to their widespread use in hospitals for long-term patient care. However, the portable segment is expected to grow steadily, driven by the increasing popularity of home-based therapies.
On the application front, COPD remains the leading cause for oxygen therapy, with significant advancements made in treatment solutions tailored for patients. Asthma, particularly among children, is also projected to see substantial growth in the coming years.
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Medical Oxygen Concentrators Top Companies and Competitive Landscape
The global Medical Oxygen Concentrators market is consolidated with few market players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Medical Oxygen Concentrators solutions.
Some major players included in the global Medical Oxygen Concentrators market report are:
O2 Concepts, LLC
Inogen, Inc.
Koninklijke Philips N.V.
Nidek Medical India.
Drive DeVilbiss International
Chart Industries
Air Water Inc.
Precision Medical, Inc.
Besco Medical
BOC
Yuwell Medical
React Health
CAIRE Inc.
GCE Group
Supera Anesthesia Innovations
Teijin Limited
Foshan keyhub Electronic industries Co. ltd.
Zadro Inc.
Medical Oxygen Concentrators Latest Industry Updates
On 2 May 2021, Fosun and Baoding Med-Joy Medical both are leading provider of molecular sieve oxygen concentrator, are teamed up and announced the delivery of another batch of medical 15,000 Med-Joy oxygen concentrators to provide oxygen supply to frontline areas affected by COID-19 pandemic in India.
On 1 August 2023, VGM and Associates announced the partnership with O2 Concepts, a leading company that provide portable oxygen concentrators (POCs) to deliver continuous flow and high-volume pulse dose oxygen therapy for great mobility and quality.
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For the purpose of this report, Emergen Research has segmented global Medical Oxygen Concentrators market on the basis of Product Type, Technology, Application, End-Use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2032)
Portable Oxygen Concentrators
Stationary/ Fixed Oxygen Concentrators
Technology Outlook (Revenue, USD Billion; 2019-2032)
Continues Flow Oxygen Concentrators
Pulse Flow Oxygen Concentrators
Application Outlook (Revenue, USD Billion; 2019-2032)
Chronic Obstructive Pulmonary Diseases (COPD)
Asthma
Respiratory Diseases
Sleep Apnea
Others
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Home care Settings
Ambulatory Surgical Center
Travel Agents
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Look Over transcripts provided by Emergen Research
Medical Oxygen Concentrators Market Size@ https://www.emergenresearch.com/industry-report/medical-oxygen-concentrators-market/market-size
Medical Oxygen Concentrators Market Share@ https://www.emergenresearch.com/industry-report/medical-oxygen-concentrators-market/market-share
Medical Oxygen Concentrators Market Trends@ https://www.emergenresearch.com/industry-report/medical-oxygen-concentrators-market/market-trends
Medical Oxygen Concentrators Regional Market Demand@ https://www.emergenresearch.com/industry-report/medical-oxygen-concentrators-market/regional-market-demand
Medical Oxygen Concentrators Market Analysis@ https://www.emergenresearch.com/industry-report/medical-oxygen-concentrators-market/market-analysis
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