The global Medical Oxygen Concentrators market was valued at USD 1717 Million in 2022 and is expected to reach USD 3078.3 Million by the year 2032, at a CAGR of 7.6%. The oxygen concentrator is a device used to concentrate the breathable gas from the supply by selectively removing nitrogen to provide an oxygenated gas stream. The concentrator takes in air and removes nitrogen from it, for use by people requiring medical oxygen due to low levels in their blood. The growing concentration of carbon dioxide, pollution, and other harmful gases in the environment have resulted in a high prevalence of asthma and several other respiratory disorders. A large number of geriatric population is also expected to drive the demand in this industry. Due to the rising incidence of respiratory diseases, manufacturers are focusing on the development of innovative and advanced and solutions for the treatment of these diseases.
However, the high cost of these products and its huge energy loss when continuous flow technology is used is expected to restrict industrial growth. In addition to this, the strict regulatory policies in healthcare worldwide also limits the growth of medical oxygen concentrates. However, the growing prevalence of diseases such as lung diseases, asthma, fibrosis, allergies, and several other respiratory disorders are likely to keep up the demand in this industry. Moreover, the rising government initiatives to improve the healthcare sector is also expected to benefit this industry.
Request a Sample@ https://www.qyresearchmedical.com/sample/119286
A concentrator is a self-contained, electrically powered medical device designed to concentrate O2 from ambient air. Utilizing a process known as pressure swing adsorption, these devices produce up to 95.5% concentrated O2. Atmospheric air is drawn through a gross particle and intake filter before moving through a compressor. The pressurized air passes through a heat exchanger to reduce the temperature before entering sieve beds that contain zeolite, a mineral material that preferentially adsorbs nitrogen gas at high pressures. As each sieve bed is depressurized, nitrogen is released. Valves open to deliver concentrated O2 into a reservoir where it accumulates, and from which a flowmeter can be used for measured and continuous release to the patient at a specified flow rate.
Key Coverage of the Report
- Region and country-wise assessment from the period 2023-2032. For the study, 2023-2017 has been utilized as historical data, 2018 as the base year, and 2019-2032, has been derived as forecasts
- Regional Competitors product analysis
- Demand and Supply GAP Analysis
- The regulatory framework of each region.
- Regional up-coming research and application outlook.
- Industrial share analysis of the key industry players
- Strategic recommendations for the new entrants
- Industry forecasts for a minimum of 6 years of all the mentioned segments, and the regional sectors
- Industry Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
Salient Trends of the Medical Oxygen Concentrators Market
- Portable products are extensively used for therapies. The equipment is feasible for travelers due to the small size and higher capacity suitable for all circumstances
- Initiatives taken by the government as well as private organizations to monitor, diagnose, and provide effective solutions to respiratory disorder patients is likely to support the industrial growth. For instance, the National Action Plan has been implemented in the U.S. to identify and reduce the burden of COPD.
- The products in this industry provide supplementary O2 for patients with chronic obstructive pulmonary disease (COPD) and, in higher concentrations, for severe chronic hypoxemia and pulmonary edema. They may be used as an adjunct treatment for severe sleep apnea (in conjunction with a continuous positive airway pressure unit). These products are typically used as stationary sources to provide long-term O2 therapy (LTOT) to patients at home.
- Rising emphasis on reducing the total cost burden of diseases, enhancing patient’s quality of life will upsurge medical concentrators business value. Growing economic burden of COPD coupled with an increase in disease severity, hospital admissions, and readmissions constitute significant bulk of cost across all stages of COPD. Hence, measures to reduce the cost burden of COPD will boost the industrial growth.
- The approval of portable O2 concentrates, by the Federal Aviation Administration, supports the industrial growth during the forecast years.
- The products in this industry may sometimes fail to produce therapeutic levels of O2 because of common problems involving the air-intake system, malfunctioning sieve-control valves, and contaminated sieve materials. Water vapor in room air can compromise the adsorption of nitrogen in the sieve beds by entering through small leaks in the internal tubing; if sufficient water vapor contaminates the sieve beds once again, the gas delivered will be room air. Patients may suffer irritation from nasal cannulae. Because excess O2 enhances and accelerates combustion., extreme care must be taken to avoid using the concentrator near combustible materials and sources of ignition. A reserve compressed tank and regulator should always be available in case of a power failure.
- Advantages, such as high mobility, improved technologies, and increased efficiencies, offered by products in this industry augment their demand in the global market
- Low commercial penetration in underdeveloped countries restrict the industrial growth.
Companies considered and profiled in this market study
Chart Industries, Koninklijke Philips N.V., Invacare Corporation, Devilbiss Healthcare LLC, Nidek Medical, Inogen, O2 Concepts, Teijin Limited, Supera Anesthesia Innovations and GCE Group
Market-O-Nomics
- As of 2018, North America dominates the global market with a revenue of USD 687.9 million and is expected to maintain its dominance during the forecasted period. This growth is attributed to the developed home care and healthcare services and favorable reimbursement policies in the region
- Asia Pacific regional segment will remain the fastest-growing segment at a CAGR of 8.7%. Increasing incidences COPDs and other respiratory disorders along with the increasing healthcare expenditure, drive the regional market further.
- Continuous flow technology segment led the global market in 2018 with 80% market share; owing to rapid technological and product advancements
- On the basis of product, Portable concentrators lead the market in 2018 with a revenue of USD 1201.9 million. The segment is also expected to witness the fastest growth over the forecast period. Increase in demand for lightweight and portable concentrators as a result of the growing geriatric population, and increasing younger population suffering from COPD are the key factors driving the demand for portable medical oxygen concentrators.
- Most concentrators currently available produce a concentration between 82% and 96% volume fraction when operated within manufacturer specifications. Certain regulations require that the concentrators must activate at least a low priority technical alarm condition with an alarm signal if producing a concentration less than 82% volume fraction. The minimum concentration shall be maintained at the maximum rated flow rate, at 40 °C, 95% relative humidity (RH) and atmospheric pressure representing an altitude of 2000 m above sea level.
- Stationary concentrators segment is expected to witness lucrative growth at CAGR of 7.1% over the forecast years owing to the advantages offered by these concentrators, such as the continuous supply that increases survival chances, ease of handling and improvements in exercise tolerance
- As of 2018, homecare medical oxygen concentrators account for 55.4% of the global market. The growth can be primarily attributed to the growing geriatric population and rising demand for home healthcare therapies.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, have segmented the Medical Oxygen Concentrators market on the basis of product, application, technology, and region:
Product (Revenue, USD Million; 2023–2032)
- Portable oxygen concentrators
- Stationary oxygen concentrators
Application (Revenue, USD Million; 2023–2032)
- Homecare
- Non-Homecare
Technology (Revenue, USD Million; 2023–2032)
- Continuous Flow
- Pulse Dose
Regional Outlook (Revenue in USD Million; 2023–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119286/1500
You can place an order or ask any questions, please feel free to contact sales@qyresearchmedical.com | +1 9197 992 333
Blog: https://www.novaoneadvisor.com/
Blog: https://www.visionresearchreports.com/
About Us
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/