Oxygen Concentrator Market Overview, 2020-26

An oxygen concentrator is a device that concentrates the oxygen from a gas supply by selectively removing nitrogen to supply an oxygen-enriched product gas stream. The device can aid those whose oxygen saturation levels are between 88 and 92 by reducing the burden on the lungs. With the demand for medical oxygen continuing unabated and countries struggling to keep pace with demand, the oxygen concentrator has emerged as a sought-after device. The research report titled Global Medical Oxygen Concentrators Market Overview, 2020-26 categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Portable, Stationary, & Oxygen Cylinders), based on technology (Continuous Flow & Pulse Flow) based on end users (Home Care & Non Home Care), based on region, countries & major companies.

Originally recorded at a value of USD 1.59 Billion in 2015, the market growth can be attributed to increasing instances of respiratory diseases and pulmonary disorders. Moreover, COVID 19 pandemic has its role in the market growth over the forthcoming period. One of the major symptoms and outcomes of being infected with the coronavirus is that the patient is not able to breathe in properly. The oxygen concentrator provides for such a condition thereby creating a sudden boost in the market. The global oxygen concentrator market is expected to grow over an impressive CAGR of over 6% through the forecasted period.

An oxygen cylinder is a device that is used to supply oxygen to patients suffering from respiratory disorders that cause the patient to not be able to consume oxygen on their own. They are a tank of liquid oxygen that has a pump that converts the liquid form of the oxygen into gaseous form and is implanted to the patient to inhale the oxygen. The oxygen cylinder segment accounted for a market share of over 47% in 2020. Advantages such as ease of use, portability, and reduced weight increase patient preference rate are anticipated to drive the portable oxygen concentrator segment shares with an anticipated CAGR of 9.56% in the upcoming five years.

The government aid toward the reimbursement to the patients and the hospitals and clinics providing the oxygen concentrators had allowed the nonhome care segment to accumulate a market share of 46% in 2015. On the other hand, the home care segment holding over half of the market share is expected to grow at a rate of 8.44% through the forecasted period.

The oxygen concentrators market is driven by the increasing prevalence of respiratory disorders, rapid growth in the geriatric population, high prevalence of tobacco smoking, and technological advancements. Of this, the continuous flow medical oxygen concentrator segment size was over USD 1.78 billion in 2020. However, the availability of low-cost alternatives by local manufacturers, stringent regulatory guidelines causing delays in product approvals, and Medicare reimbursement rate cuts for oxygen therapy are restraining the growth of the market to a certain extent. However, the pulse flow technology is expected to grow over an anticipated CAGR of 11.12%.

Market players are actively involved in technological advancement and currently looking out to increase the manufacturing units to meet the demand from various end-users. Countries like India and China are still struggling with the increasing number of COVID-19 patients and the demand for oxygen concentrators has multiplied rapidly. Although the imports and exports of the supply units have increased, manufacturing units at multiple points will further support the growth of the market. Partnerships among the market giants would support the market growth further. Some of the prominent players operating in the medical oxygen concentrators market include Teijin Limited, Nidek Medical Products, Inogen, ResMed, and Invacare Corporation among other players.

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For this study, the publisher has segmented the Global Medical Oxygen Concentrator Market report based on product, technology, end users, and region:

CONSIDERED IN THE REPORT

• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026

REGIONS COVERED:

• North America
• Europe
• Asia
• Latin America
• Middle East & Africa

ASPECTS COVERED IN THE REPORT

• Market Size by Value for the period (2015-2026F)
• Market Share by Product (Portable Oxygen Concentrator, Stationary Oxygen Concentrator, & Oxygen Cylinders)
• Market Share by Technology (Continuous Flow & Pulse Flow)
• Market Share by End User (Home Care & Non-Home Care)
• Market Share by Region
• Market Share by Country
• Market Share by Company

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