Medical
Oxygen Concentrators Market outlook is
positively influenced by advancements in healthcare system along with a strong
desire to maintain good health. The medical expenditure is observing a
significant upsurge, one of the several reasons being the elderly population
suffering from acute respiratory disorders.
As per the UN report, aging
population is expected to reach over 2 billion by 2050. The increasing
geriatric population base is estimated to be a prime factor driving the medical
oxygen concentrators industry trends over the coming years. As per Global
Market Insights, Inc., “Medical oxygen concentrators market size is expected to
hit USD 2.3 billion by 2023.” Moreover, favorable medical insurance as well as
reimbursement policies are expected to offer lucrative avenues for the global
industry landscape.
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The
differentiating factor of Medical Oxygen Concentrators market report by Global
Market Insights, Inc. when compared with other, similar syndicated research
studies includes a 360-degree synopsis of trends for a period of more than 10
years including historic information as well as future outlook. Business
focussed multiple trends for Medical Oxygen Concentrators industry are
discussed along with regional trends to offer an overall view of the market.
The ‘industry insights’ chapter of this research provides the most
comprehensive analysis of Medical Oxygen Concentrators market covering
segmentation, size, forecasts, ecosystem analysis and more. Industry impact
forces (regional and global) that cover growth drivers and challenges, growth
potential analysis, a strategy dashboard for competitive landscape of Medical
Oxygen Concentrators market support this sector specific data and information
points.
Portable and fixed medical oxygen
concentrators are the two major product segments of the medical oxygen
concentrators market. High popularity of lightweight and user friendly
concentrators is expected to enhance portable medical oxygen concentrators market
value over the coming six years. Furthermore, its prominent use across shopping
malls, airports, and offices is projected to fuel the product demand. Favorable
government initiatives encouraging the use of FAA (Federal Aviation
Administration) compliant portable medical oxygen concentrators in aircraft is
further expected to propel the portable medical oxygen concentrators industry
growth over the period of 2016-2023.
Fixed medical oxygen concentrators industry, which
made significant contributions towards the overall revenue in 2015, is expected
to witness a noticeable growth over the next few years, driven by the rapid
increase in the aging population susceptible to respiratory disorders.
Medical oxygen concentrators find wide applications in
home care and non- home care sectors. Medical oxygen concentrators market is
predicted to observe a lucrative growth in the home care sector over the coming
six years. Increase in the number of severely affected COPD patients requiring
oxygen therapy at home along with the affordability and efficiency of this
system will propel the medical oxygen concentrators industry size in home care
sector.
High demand for medical oxygen concentrations in
non-home care sector due to rising elderly population base susceptible to the
occurrence of chronic ailments such as asthma, respiratory ailments, lung
disorders, and COPD is expected to push the industry revenue.
Browse key industry insights spread across 86 pages with 54 market data
tables & 6 figures & charts from the report
Medical Oxygen Concentrators Market in detail along with the table of
contents:
On account of the global trends, North America medical
oxygen concentrators market, which contributed over 40% towards the overall
revenue, is expected to grow significantly over the coming timeframe, driven by
factors such as the high occurrence of respiratory ailments, beneficial
reimbursement norms, and growing product demand across the home healthcare
sector. Furthermore, the high occurrence of COPD due to irregular life patterns
is expected to drive the regional growth. U.S. is forecast to be a key regional
revenue contributor.
APAC medical oxygen concentrators industry will also
observe significant growth over the coming years, owing to the high living
standards, rapidly increasing older population base, and better healthcare
facilities. China and India are anticipated to be the major regional revenue
pockets.
Latin America medical oxygen concentrators market is
slated to register a high growth over the next few years, driven by factors
such as high investments in healthcare infrastructural expansion, rising
awareness among the patients about early diagnosis, and growing popularity of
portable medical oxygen concentrators. Brazil is expected to make significant
contributions towards the regional share.
Heavy demand for medical oxygen concentrators in
Europe, owing to inadequacy of pure oxygen supply accompanied by introduction
of beneficial compensation policies by the government will drive the regional
growth.UK and Germany are estimated to be the key growth drivers of the region.
Key industry participants include Advanced Technocracy
Incorporation, Teijen, O2 Concepts, Philips Respironics, AirSep, Goodhealth
Incorporation, DeVilbiss Healthcare, and Covidien Limited.
Browse Related Reports:
Homecare
Oxygen Concentrators Market Size By Product
(Portable Oxygen Concentrators, Compressed Gas Oxygen Cylinders, Liquid
Oxygen), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK,
China, Japan, Brazil, South Africa), Price Trends, Competitive Market Share
& Forecast, 2016 – 2023
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