Oxygen Concentrators Market to Grow with Increasing Pulmonary Diseases During the Forecast Period
Rising demand of
minimally invasive diagnostic processes is driving the growth in Global Oxygen
Concentrators Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Oxygen
Concentrators Market
By Type (Portable v/s Stationary) By Technology (Pulse Flow v/s Continuous
Flow) By Application (Bronchitis, Pneumonia, COVID-19, Lung Cancer, Others) By
End Users (Hospitals & Clinics, Ambulatory Care Centers, Home Care) By
Region, Competition Forecast & Opportunities, 2026”, the global oxygen concentrator market is expected to show a robust
growth in the forecast period, 2022-2026, on the account of increasing number
of COVID-19 positive patients. The disease has been termed as pandemic since
March 2020, and even after claiming millions of lives, the control over the
virus has not been completed. In fact, new strains of the virus are still
rapidly increasing the patient count as well as claiming their lives mostly in
the countries like India. One of the major symptoms and effect the patients are
suffering is the lack of oxygen they experience after the infection. Oxygen
concentrators are utilized to over come the effect of the viral infection.
Moreover, respiratory disorders, lung diseases, lung cancer, and pulmonary
diseases are also increasing on a worldwide level.
In fact, five years ago, according to the reliable sources of United
States government, more than 16 million U.S. citizens (adults) were diagnosed
with the severe cases of chronic obtrusive pulmonary disorder (COPD). 9 million
were suffering from chronic bronchitis, and 3.5 million struggled with
emphysema. As fearful these stats seem, the diseases are still rapidly
increasing and affecting the population all over the world. With the poor
choices of lifestyle like smoking, excessive alcoholism, and increased
industrialization all over the world, the cases of the pulmonary diseases are
increasing. Thus, its safe to say that these factors are directly affecting the
health as well as the market for oxygen concentrators. Patients suffering from
these diseases fail to breathe in oxygen and their body fails to separate out
the oxygen from the other gases. The toxic gases are worsening the cases
thereby the surge in the demand for the oxygen concentrators is increasing. Furthermore,
ResMed, one of the leading participants of the oxygen concentrators market and
to meet the rapidly increasing global demand, the company is increasing its
masks manufacturing capacities by 10 times and ventilator manufacturing by 2-3
times. The company has a capacity of manufacturing nearly 1 million devices
annually.
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The global oxygen concentrator market is segmented by type, technology,
application, end user, competitional landscape, and regional analysis. Based on
technology, the market is further categorized into pulse flow and continuous
flow. Pulse flow oxygen concentrators work on the principle where it provides
puffs of oxygen when the patient inhales. Continuous flow provides oxygen
regardless of whether the oxygen patient is inhaling or exhaling.
Based on application, the market is further fragmented by bronchitis,
pneumonia, COVID-19, lung cancer, and others. COVID-19 is anticipated to hold
the largest market share owing to the large number of the patients that is
continuously increasing due to the new strain of virus that was recently
discovered. Moreover, other lung problems like bronchitis, is also anticipated
to hold a significant market share owing to the increased pollution and foul
air quality of the country. Based on end user the market is categorized on the
basis of hospitals & clinics, ambulatory care centers, home care. Hospitals
& Clinics are anticipated to hold the largest market share in the future
five years owing to the large sized tanks and need of expert monitoring for the
supply t be consistent and continuous. Although, homecare is expected to
experience the fastest growth in the market share owing to the pandemic
situation the country is struggling with.
Holding major shares of the global oxygen
concentrators market, major competitors are Koninklijke Philips N.V., Invacare
Corporation, ResMed, Inc., AirSep Corporation, Precision Medical, Inc., DeVilbiss
Healthcare LLC, Nidek Medical Products Inc., Inogen Inc., NGK Spark Plug Co.,
Ltd., GCE Group among others. Market players are actively involved in the
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 the COVID-19
patients and the demand for the oxygen concentrators have 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.
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“North America is
anticipated to hold the largest share of the global market in the next five
years on the account of government and private funding for R&D in oxygen
concentrator devices, the increasing number of healthcare providers, the
increasing geriatric population, and rising incidences of lung related diseases.
Also, the increased number of diseases has drived the maximum number of market
layers to operate in the region. New market players can strategize for the
significant market players by investing in the research and development of the
technologically advanced products,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based Global management consulting firm.
“Global Oxygen
Concentrators Market By Type (Portable v/s Stationary) By Technology (Pulse
Flow v/s Continuous Flow) By Application (Bronchitis, Pneumonia, COVID-19, Lung
Cancer, Others) By End Users (Hospitals & Clinics, Ambulatory Care Centers,
Home Care) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the
future growth potential of global oxygen concentrators and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global oxygen concentrators market.
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