Global Medical Oxygen Concentrator Market- Industry Trends & Forecast Report 2027 - PDF document

Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027 Global Medical Oxygen Concentrator Market - Industry Trends & Forecast Report 2027 Summary Global Medical Oxygen Concentrator Market - By Product Type (Portable Oxygen Concentrators, Stationary Ox ygen Concentrators), By Technology (Continuous Flow, Pulse Flow), By Application (Chronic obstructive pulmonary disease (COPD), Asthma, Sleep Apnea, Pneumonia, Others), By End - User (Home Care, Hospitals, Ambulatory Care), By Region (North America, Europe, the Asia - Pacific, Latin America and the Middle East and Africa); Trend Analysis, Competitive Market Share & Forecast, 2017 - 2027 A study recently conducted by the strategic consulting and market research firm, BlueWeave Consultin g , revealed that the global medical oxygen concentrator market reached USD 2.4 billion in 2020. The data yielded by the study further reveals that the market is projected to reach USD 5.7 billion by 2027, growing at an impressive CAGR of 12.1% during 2021 - 2027 (forecast period). The growth of the global medical oxygen concentrator market can be attributed to the rising infection rates and increasing prevalence of COVID - 19 variants around the world which has increased the demand for temporary consumption of oxygen for mild case patients . Global Medical Oxygen Concentr ator Market - Industry Trends & Forecast Report 2027 The global medical oxygen concentrator market reached USD 2.4 billion in 2020 and is further projected to reach USD 5.7 billion by 2027, growing at a CAGR View report Press release Sample report Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027 of 12.1% during 2021 - 2027 (forecast period). The rising respiratory complications as a result of rising COVID - 19 infection rates, accompanied by the growing demand for oxygen around the world have resulted in the growth of the global medical oxygen concentrator market. Additionally, the rising investment s in the healthcare sector around the world have also aided this prevailing growth rate of the demand for oxygen concentrators in the medical oxygen concentrator market. Global Medical Oxygen Concentrator Market Overview A medical oxygen concentrator acts as a healthcare device for providing oxygen to patients suffering from respiratory disorders and related ailments. The medical oxygen concentrator comes equipped with sieve beds and filters that help in bisecting the nitrog en and oxygen from the air present in the surroundings, thereby eradicating the nitrogen constituents. Once the air is purified and the nitrogen element is eliminated from the air, it is ready for disposal to the dedicated patients through a nasal cannula or an oxygen mask. The concentrators can purify as much as 95% of the air it captures from the surroundings thereby ensuring that the final oxygen delivered to the patient is not contaminated. Even though they act as a life savior for patients suffering fr om respiratory ailments, they are only meant for patients with fewer complexities. However, in severe respiratory situations, it becomes crucial to receive 99% oxygen content which may exceed the limit of an oxygen concentrator, rendering it ineffective. Global Medical Oxygen Concentrator Market Forecast and Trends Growth Drivers Growth in out - of - pocket spending in the healthcare sector has been driving the demand for the global medical oxygen concentrator market According to the WHO report on Global Spen ding 2020, over the last decade, government health spending, as well as out - of - pocket spending (OOPS) per capita, have risen sharply in many countries around the world. The rise in out - of - pocket spending shows that a patient's out - of - pocket expenses are in creasing and that medical insurance plays no role in providing financial assistance. Due to the presence of insurance companies and free healthcare, out - of - pocket spending has accounted for over one - third of total health spending in all nations excluding h igh - income countries. In 2018. Out - of - pocket spending accounted for more than 41% of total health expenditure in low - income nations, with 42% and 36% in lower - middle and upper - middle - income nations, respectively. The increased OOPS spending has had a direc t impact on the demand for oxygen concentrators in low - and middle - income nations, which have been severely impacted by pollution levels. As a result, the global medical oxygen concentrator market has grown due to increased demand. Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027 The rising prevalence of respiratory disorders around the world have been fuelling the growth of the global medical oxygen concentrator market The rising prevalence of respiratory diseases has contributed to the demand for medical oxygen concentrators. Chr onic obstructive pulmonary disease (COPD) is a well - known respiratory condition in which the airflow vessels in the lungs shrink, decreasing the amount of oxygen given to the circulating blood in the body. According to a report published by the NCBI, more than 3.2 million people died of COPD in 2017, with a global mortality rate of 5.7%. Over 90% of COPD - related deaths, according to one estimate, occur in low - and middle - income nations. The oxygen concentrator is a life - saving medical device for such patien ts as they are more portable and easier to use than other oxygen devices available in the market; thus, they prove to be more useful in such conditions. These are a few factors that are contributing to the growth of the global medical oxygen concentrator a round the world. Restraints As the need for ventilators grows, so do the costs of development. COVID - 19's rising prevalence has increased the number of cases around the world, contributing to a rise in the number of patients requiring advanced care. Many c ountries have turned to medical oxygen concentrators as a last resort alternative due to a scarcity of ventilators. As a result, medical device companies have been working on producing medical oxygen concentrators with enhanced purification capacity. Howev er, this has increased the expense of developing such products, compelling many companies to change their business strategies, stifling the growth of medical oxygen concentrators. Impact of COVID - 19 on Global Medical Oxygen Concentrators Market Except for pharmaceuticals and healthcare, the coronavirus outbreak has affected almost every other industry across the globe. The pandemic has not only resulted in driving the medical oxygen concentrator but has also impacted the overall structure of this device. Ox ygen concentrators are known to supply oxygen to people who have a blood oxygen level of 90% or less. A growing number of minor cases around the world have shown the equipment to be a lifesaver. As a result, the demand for such devices has risen drasticall y over the past year. Additionally, the varied priorities and less attention toward the overall medical structure of the various countries have been driving the growth of the global medical oxygen concentrator market as the government is running short of m edical equipment to cater to the demand of the general public. Global Medical Oxygen Concentrators Market - By Product Type Based on product type, the global medical oxygen concentrator market can be bifurcated into portable oxygen concentrators and stationary oxygen Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027 concentrators. In the year 2020, the portable oxygen concentrator category accounted for the largest share and i s expected to maintain its dominance even during the forecast period. The growth of such concentrators in the global medical oxygen concentrators market has been directly influenced by the mobility and easier user experience that the device offers. In comp arison to stationary devices, the gadgets have been modified to meet the needs of the end - user, allowing them to have a good night's sleep and providing easier access to the gadget wherever they are needed. Global Medical Oxygen Concentrators Market - By Te chnology Based on types, the global medical oxygen concentrator market has been segmented into - continuous flow and pulse flow. The continuous flow medical oxygen concentrator held the larger share in the market in 2020 and it is anticipated to register th e highest CAGR during the forecast period. With the rising severity of respiratory diseases, the demand for continuous oxygen supply becomes crucial for the patients. Even though the device becomes heavier with this technology making it difficult to travel with it, the ease of getting oxygen helps the patient improve their lives, which in turn contributes to the growth of the global medical oxygen concentrator market. Global Medical Oxygen Concentrator market - By Region B ased on region, the global medical oxygen concentrator market is grouped into North America, Europe, the Asia - Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest market share in the global medical oxygen concentr ator market in 2020. Due to the rising prevalence of the geriatric population in the region, accompanied by the rising demand for healthcare equipment and concentrators for being the worst COVID - affected region in the world, the demand for medical oxygen c oncentrator in the region has been witnessing substantial growth rates. Consequently, the region is expected to witness more demand for medical oxygen concentrators, thereby driving the global medical oxygen concentrator market. Competitive Landscape The global presence of several healthcare technologies and equipment manufacturers has created some potential for new entrants into the global medical oxygen concentrator market. As a result, the global medical oxygen concent rator is highly fragmented in nature. Some of the key players in the global oxygen concentrators market are Inogen Inc., O2 Concepts LLC, Philips Respironics, Teijin Limited, Invacare Corporation, Covidien, AirSep Corp., Nidek Medical Products, Inc., DeVil biss Healthcare, Inova Labs, Chart Industries, Inc., Precision Medical, Inc., GCE Group, Besco Medical Limited, Oxygen Solutions Inc., Yuwell - Jiangsu Yuyue medical equipment & supply Co., Ltd., BPL Medical Technologies, Healthgenie, Equinox Overseas Pvt. L td., and other prominent players. Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027 Recent Developments · In January, 2021, CAIRE Inc. announced the launch of SAROS™ 4000 Oxygen System, which has been designed specifically for military use. The updated version of CE - marked SAROS is crafted in comp liance with state - of - the - art medical device standards for the European region and is equipped with CAIRE’s technology, autoSAT®, thereby providing the ability to continuously maintain oxygen levels by altering the patient’s respiratory rate. · In April 2021, Renewable energy startup Exalta announced the launch of mini oxygen concentrators for providing aid to India’s shortage of oxygen. The end - product is a portable oxygen concentrator that leverages water and the process of electrolysis for pro ducing oxygen. The mini concentrator is expected to provide eight litres of oxygen in one minute, and doesn’t need any special setup, barring the requirement of electricity and distilled water. Scope of Report Attribute Deta ils Years considered Historical data - 2017 - 2020 Base Year - 2020 Forecast - 2021 - 2027 Facts covered Revenue in USD Billion Market coverage US, Canada, Germany, UK, France, Italy, Spain, Brazil, Japan, South Korea, China, Australia, UAE, South Africa, Saudi Arabia, and others Product/ Service segmentation By Product Type, By Technology, By Application, By End - Users, By Region Key Players In ogen Inc., O2 Concepts LLC, Philips Respironics, Teijin Limited, Invacare Corporation, Covidien, AirSep Corp., Nidek Medical Products, Inc., DeVilbiss Healthcare, Inova Labs, Chart Industries, Inc., Precision Medical, Inc., GCE Group, Besco Medical Limited , Oxygen Solutions Inc., Yuwell - Jiangsu Yuyue medical equipment & supply Co., Ltd., BPL Medical Technologies, Healthgenie, Equinox Overseas Pvt. Ltd., and others prominent players Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027 By Product Type Ø Portable Oxygen Concentrators Ø Stationary Oxygen Concentrators By Technology Ø Continuous Flow Ø Pulse Flow By Application Ø Chronic obstructive pulmonary disease (COPD) Ø Asthma Ø Sleep Apnea Ø Pneumonia Ø Others By End - User Ø Home Care Ø Hospitals Ø Ambulatory Care By Region Ø North America Ø Europe Ø Asia Pacific Ø Latin America Ø MiddleEastand Africa Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027 About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informe d and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Medical Oxygen Concentrator Market to Exhibit Promising Growth: Expected to Reach USD 5.7 Billion in 2027