An oxygen concentrator refers to a gadget that is tasked with the job of concentrating oxygen from a gas supply. It is done through the process of particularly evacuating nitrogen to make a supply of oxygen-enhanced substance in the stream of gas. An oxygen concentrator absorbs air and gives out nitrogen out of it, which leaves a gas stream laden with oxygen. This product is then utilized by people needing restorative oxygen due to low level of oxygen in their blood. The growth of the global medical oxygen concentrators market is likely to be influenced by increased prevalence of respiratory diseases.
Patients suffering from various types respiratory diseases, such as intense pneumonia, lung malignancy, emphysema, and bronchitis require the services of oxygen concentrators. These patients are likely to drive the demand for oxygen concentrators in the years to come. These concentrators find use both at clinical settings and home to cater to the need of clients’ oxygen. An oxygen concentrator comes with some valves and cylinders, a weight adjusting supply, two chambers filled with pellets of zeolite, and an air blower.
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The global medical oxygen concentrators market has been segmented based on technology, application, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.
Global Medical Oxygen Concentrators Market: Notable Developments
In the last few years, the global medical oxygen concentrators market has witnessed quite a few path-breaking developments. One such development of the market is mentioned below:
- In August 2019, Leader in health technology, Philips completed acquisition of Healthcare Information Systems (HCIS) business of Carestream Health Inc. This move is estimated to expand the business of Philips and diversify its product portfolio in the forthcoming years.
Some of the key market players of the global medical oxygen concentrators market are
- Koninklijke Philips N.V.
- DeVilbiss Healthcare GmbH
- Jiangsu Yuyue Medical Equipment & Supply Co. Ltd.
- Inova Labs Inc.
- NIDEK Medical Products, Inc.
- Teijin Limited
Global Medical Oxygen Concentrators Market: Growth Drivers
Growing Prevalence of Respiratory Disorders to Spell Growth for the Market
The global medical oxygen concentrators market is estimated to be influenced by the augmented prevalence of chronic obstructive pulmonary disease (COPD). In addition there has been a surge in the number of people taking up cigarette smoking from both the sexes, which is likely to cause respiratory system related sickness. As such, the rise in the number of smokers is expected to bolster growth of the global medical oxygen concentrators market over the period of analysis.
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A rise in the generation of smoke and dust in different industrial and occupational sectors is likely to work in favor of the development of the global medical oxygen concentrators market in the years to come. A rise in the number of elderly population who are vulnerable to various types of respiratory issues is likely to drive the demand for medical oxygen concentrators in the forthcoming years.
In addition, a rising number neonatal patients suffering from various types of respiratory anomalies is likely to play an important role in developing the global medical oxygen concentrators market over the tenure of analysis.
Several public and private organizations have put into use various programs to track, diagnose, and offer effective solutions for sufferings of patients with respiratory disorders. Such moves by private and public enterprises are like to amplify growth opportunities for the global medical oxygen concentrators market over the period of assessment.
Global Medical Oxygen Concentrators Market: Regional Outlook
In the global oxygen concentrators market, North America is estimated to rise as one of the leading regions and is likely to retain its regional dominance in the years to come. A rise in the geriatric population together with increased prevalence of respiratory diseases is likely to offer ample scope of growth for the medical oxygen concentrators market in North America.
Asia Pacific is likely to emerge as an immensely promising region with the growing prevalence of lung disorders and expanding geriatric population, Furthermore, as more people take up smoking in the region, the oxygen concentrators market in Asia Pacific is likely to observe growth in the years to come.
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The global medical oxygen concentrators market is segmented as:
- Continuous Flow
- Pulse Dose
- Home Care
- Non-home care
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