Research Nester published a report titled “Medical Oxygen Concentrators Market: Global Demand Analysis & Opportunity Outlook 2030″ which delivers detailed overview of the global medical oxygen concentrators market in terms of market segmentation by technology, product, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global medical oxygen concentrators market is expected to garner a sizeable revenue by growing at a CAGR of ~6% throughout the forecast period, i.e., 2022 – 2030, owing to the surging prevalence of chronic obstructive pulmonary diseases (COPDs) and rising demand for miniaturized oxygen concentrators globally. Additionally, hike in sales and imports of oxygen concentrators as a result of COVID-19 pandemic is also expected to boost market growth in the near future.
The market is segmented by technology, product and end user. On the basis of end user, the homecare segment is anticipated to grab the largest market share during the forecast period accounting to the rising need for home healthcare-based oxygen therapies and high standards of living in developed economies. Furthermore, based on product, the portable segment is projected to grab the largest market share on the back of increasing occurrence of asthma, pneumonia and other respiratory disorders.
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Regionally, the medical oxygen concentrators market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America is anticipated to grab the largest market share during the forecast period ascribing to the implementation of initiatives authorizing use of portable oxygen concentrators in air travel and strong healthcare infrastructure in the region. Asia Pacific is projected to witness the highest market growth during the forecast period, which can be attributed to the large patient pool and increasing geriatric population in the region.
Growing Prevalence of COPDs to Drive Market Growth
The rapid rate of increase of elderly population around the world is giving rise to the occurrence of several respiratory diseases among these people, including chronic obstructive pulmonary diseases. In addition, coupled with growing trend of home healthcare, the market is anticipated to observe a skyrocketing demand for these medical products in the near future.
However, stringent regulatory framework associated with the manufacture of oxygen concentrators is expected to operate as key restraint to the growth of the medical oxygen concentrators market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global medical oxygen concentrators market which includes company profiling of Koninklijke Philips N.V., DeVilbiss Healthcare LLC, Invacare Corporation, AirSep Corporation, ResMed Corp., Inogen, Inc., Covidien plc, TEIJIN LIMITED, O2 CONCEPTS(R), LLC, Inova Health System, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the medical oxygen concentrators market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Henry Lucas is an experienced Industry researcher with more than 10 years of experience and he has a great interest and knowledge about the Business industry in research Strategy, Strategic Planning, new innovations and technology.