India Oxygen Concentrators Market to Grow at a robust CAGR in FY2022
Increasing health awareness among the
population is driving the growth of India Oxygen concentrators market in the
forecast years.
According to TechSci Research report, “India Oxygen Concentrators Market By Type (Portable
v/s Stationary), By Technology (Continuous Flow, Pulse Flow, Continuous/Pulse
Flow), By Flow-rate (0-5l/min, 5-10l/min, Above 10l/min), By Source (Import v/s
Domestic), By Distribution Channel (Wholesalers/Distributors/Suppliers, Online,
Direct Sales), By Offering (Rental v/s New Sales), By Application (COPD, Lung
Cancer, Asthma, COVID-19, Others), By
End User (Hospitals & Clinics, Ambulatory Care Centers, Home Care), By Region,
Competition Forecast & Opportunities, FY2027F”, India oxygen concentrators market stood at USD78.89 million in
FY2021 owing to the
growing prevalence of chronic respiratory diseases among the population. This
has in turn increased the patient pool requiring oxygen support, thereby
fueling the market growth. Also, increasing air pollution especially in the
metro cities such as Delhi-NCR, among others has increased the prevalence of
pulmonary problems among the population. According to World Health Organization
(WHO) statistics, about 20 million patients suffer from asthma in the country.
To cater to their requirement of the oxygen and to provide it with efficiency
and on time, the demand for the oxygen concentrators is anticipated to increase
in the coming years. Additionally, technological developments and new product
launches by major players operating in the market is expected to create
lucrative opportunities for growth in the next five years. Also, supportive
government policies like Make in India and Aatmanirbhar Bharat will set up
grounds for manufacturing of concentrators in India, opening new opportunities
for the Indian players and the overall market as well. However, high cost of
oxygen concentrators can lead to affordability constraints among the population
and their switching over to other oxygen therapy equipment. This in turn is
expected to hamper the market growth through FY2027.
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The India
oxygen concentrators market is segmented by type, technology, flow-rate,
source, distribution channel, offering, application, end user, region, and
company. Based on technology, the market can be categorized into continuous
flow, pulse flow and continuous/pulse flow. The continuous flow oxygen
concentrators dominated the market in FY2021 with a market share of around 61.37%.
This can be attributed to the fact that concentrators based on continuous flow
technology can provide a continuous supply of oxygen irrespective of the fact
that the patient is inhaling or exhaling. As a result of this major companies
are manufacturing their concentrators based on this technology only. Based on
application, the market is fragmented into COPD, Lung Cancer, Asthma, COVID-19,
and others. The share of COPD increased significantly in FY2021 owing to the sudden
outbreak and spread of pandemic in the country. Additionally, the surge in
COVID-19 cases in the country has created a large patient pool requiring oxygen
support. Moreover, Lung Cancer is also anticipated to hold a significant market
share owing to the increased pollution and poor air quality of the country
which has significantly increased the prevalence of the disease among the
population. Based on end user the market is categorized into hospitals &
clinics, ambulatory care centers and home care. Hospitals & Clinics are expected
to dominate the market during the forecast period owing to the large sized
oxygen tanks and need of expert monitoring for the supply of oxygen to be
consistent and continuous. However, homecare is expected to experience significant
growth in the next few years.
Some
of the top players in the India oxygen concentrators market include Philips India Limited, BPL Medical Technologies Private Limited, Nidek
Medical India Pvt Ltd., Sanrai Med India Private Limited, GCE India Pvt. Ltd.,
Kannu Impex (India) Pvt. Ltd., Monarch Meditech, MediKart HealthCare Systems
Pvt.Ltd., Technocare Medisystems, GPC Medical Ltd., among others.
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“India
oxygen concentrators market is anticipated to grow due to the rising
coronavirus infected patient count in the upcoming five years. The spread of
virus has recently taken a new toll of death counts that has reached to more
than one million. Market players who are looking for expansion or any new
players who want to enter the market, may focus over the regions and cities
with the higher patient counts and on the distribution methods for the supply
of the product in the otherwise lacking areas,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India
Oxygen Concentrators Market By Type (Portable v/s Stationary), By Technology
(Continuous Flow, Pulse Flow, Continuous/Pulse Flow), By Flow-rate (0-5l/min,
5-10l/min, Above 10l/min), By Source (Import v/s Domestic), By Distribution
Channel (Wholesalers/Distributors/Suppliers, Online, Direct Sales), By Offering
(Rental v/s New Sales), By Application (COPD, Lung Cancer, Asthma,
COVID-19, Others), By End User
(Hospitals & Clinics, Ambulatory Care Centers, Home Care), By Region,
Competition Forecast & Opportunities, FY2027F” has evaluated the future growth potential of India oxygen
concentrators market 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 India oxygen concentrators
market.
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