Oxygen Concentrator Market is estimated to be US$ 3.97 Billion by 2030 with a CAGR of 8.9% during the forecast period

 

Oxygen Concentrator Market accounted for US$ 1.70 billion in 2020 and is estimated to be US$ 3.97 billion by 2030 and is anticipated to register a CAGR of 8.9%. An oxygen concentrator is a system that selectively removes nitrogen from a gas supply (typically ambient air) to produce an oxygen-enriched product gas stream. They consume nitrogen and generate 90–95 percent oxygen from room air. Oxygen concentrators may be used to meet a user's oxygen requirements at home or in a clinical environment. Patients that need extra oxygen for respiratory diseases such as bronchitis, emphysema, lung cancer, or acute pneumonia use oxygen concentrators. The use of supplemental oxygen for a long time has increased the survival rate of COPD patients. As a result, the increasing prevalence of COPD and other lung diseases, as well as COPD patients' reliance on oxygen therapy products, are driving up demand for oxygen concentrators and cylinders.

The report "Global Oxygen Concentrator Market, By Product (Stationary and Portable), By Technology (Continuous flow and Pulse flow), By Flow level (10LPM, 5-10 LPM, &0-5 LPM) By End-user (Hospitals, Homecare, Ambulatory surgical centers and Physician offices) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”

Key Highlights:

·         According to Deloitte, a consortium of multinationals has agreed to provide India with immediate delivery of oxygen concentrators, home monitoring kits, oxygen cylinders, and generators due to COVID-19 cases breaking records.

·    As India battles a severe second wave of the coronavirus pandemic, the United Kingdom announced on Sunday that it would send life-saving medical equipment to the region, including ventilators and oxygen concentrator devices.

Analyst View:

The growing prevalence of respiratory disorders, rapid growth in the geriatric population, high prevalence of cigarette smoking, preference for home-based oxygen therapy, and technological advances are driving the oxygen concentrators market. The majority of patients would need a constant supply of oxygen, which is typically supplied by an oxygen concentrator. Concentrators have become the device of choice for manufacturers because they are relatively inexpensive and require less home visits than liquid oxygen. With businesses from a variety of sectors joining the Oxygen Concentrator industry to meet the unprecedented demand for oxygen concentrators, as well as the government working with manufacturers to offer oxygen concentrators to hospitals and healthcare facilities, the demand for oxygen concentrators is expected to skyrocket throughout the coming years.

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Key Market Insights from the report:

The global oxygen concentrator market accounted for US$ 1.70 billion in 2020 and is estimated to be US$ 3.97 billion by 2030 and is anticipated to register a CAGR of 8.9%. The Global Oxygen Concentrator Market is segmented based on the product type, technology, flow level, end -user, and region.

·         By product type, the Global Oxygen Concentrator Market is segmented into Stationary and Portable.

·         By Technology, the market is segmented in Continuous flow and Pulse flow.

·         By flow level, the Global Oxygen Concentrator Market is segmented into 10LPM, 5-10LPM, & 0-5LPM.

·         By End-User, the market is segmented into hospitals, Homecare, ambulatory surgical centers, and physician offices.

·         By region, the Global Oxygen Concentrator Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is leading in the geographical region in the forecast period.

Competitive Landscape:

The key players operating in the global oxygen concentrator market includes Chart Industries, Inc., Linde Plc, Teijin Ltd., GCE Holding AB, O2 Concepts, Invacare Corp., Inogen, Koninklijke Philips N.V., ResMed, Nidek Medical Products Inc., DeVilbiss Healthcare LLC, and Supera Anesthesia Innovations among others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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