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NOIDA, India, June 15, 2021 (GLOBE NEWSWIRE) – A recent study conducted by BlueWeave Consulting, a strategic consulting and market research company, shows that the global medical oxygen concentrator market will reach US$2.4 billion in 2020. The research further shows that by 2027, the market is expected to reach 5.7 billion U.S. dollars, growing at a compound annual growth rate of 12.1% during the period 2021-2027 (forecast period). The growth of the global medical oxygen concentrator market can be attributed to the rising infection rate and the worldwide prevalence of COVID-19 variants, which increases the demand for temporary oxygen consumption in patients with mild cases.
The growth of out-of-pocket expenses in the healthcare industry is expanding the global medical oxygen concentrator market
Pollution levels continue to rise, along with the increase in medical expenditures over the past decade, which has led to an upward trend in the demand for medical oxygen generators in low-income, low-middle-income and middle-income countries. Therefore, it has made a positive contribution to the growth of the global medical oxygen concentrator market. According to estimates by the World Health Organization, in the past ten years (from 2000 to 2018), out-of-pocket per capita (OOPS) has been one of the main factors driving the growth of the global medical oxygen concentrator market. all world contries. Increasing out-of-pocket expenses indicate that patients are more directly involved in paying for the medical services and equipment they wish to use. This shows that the government has played little role in improving healthcare services and providing oxygen concentrators and other equipment in many developing countries, causing people to spend more on the equipment they want. Therefore, the growing demand has been promoting the growth of the global medical oxygen concentrator market.
The rising prevalence of respiratory diseases drives the growth of the global medical oxygen generator market
The increasing demand for medical oxygen concentrators in the global population of respiratory diseases and the elderly has made a positive contribution. Chronic obstructive pulmonary disease (COPD) is one of the most common respiratory diseases, in which the elderly population happens to be the most affected disease, which makes it easier for them to use oxygen generators. In addition, in areas where the air is polluted, the prevalence of such diseases is increasing, severely damaging the lungs. Affected by the above factors, the demand for medical oxygen concentrators in areas with high population aging rates such as Japan, Germany, and Finland has increased, which in turn promotes the growth of the global medical oxygen concentrator market.
The home care segment occupies the largest share of the global medical oxygen generator market
According to end users, the global medical oxygen generator market is segmented into home care, hospitals, and outpatient care. In 2020, the home care segment will hold the largest share of the global medical oxygen concentrator market. The growth of this market segment can be attributed to the easy availability of portable medical oxygen concentrators, allowing people to move around freely without worrying about the proper oxygen supply they need to sustain their lives. As the adoption rate of oxygen concentrators is expected to increase in the next few years, the home care sector is also expected to witness the fastest compound annual growth rate during the forecast period. In addition, home care reduces the stress that may arise from staying in the hospital for a long time. Therefore, the growth of this sub-segment is expected to remain strong in the future.
The global medical oxygen generator market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa by region. In 2020, North America is responding to some of the most severe pandemic cases and has the largest market share in the global medical oxygen concentrator market. In addition, the increase in the elderly population in the region, especially in Canada, has had a positive impact on the demand for medical oxygen concentrators. The increase in demand is also because the US government allows the use of medical concentrators for COVID-19 patients. This move will have a significant impact on the demand for medical oxygen concentrators in the region and the global medical oxygen concentrator market.
COVID-19 is one of the most devastating diseases in the history of the world, claiming more than 3.8 million lives as of June 13, 2021. The worldwide spread of COVID-19 variants renders the vaccine ineffective and causes the severity of the virus. As we all know, this disease is one of the most serious forms of pneumonia, and it happens to affect the lungs and disrupt their ability to function properly. In addition, according to WHO estimates, almost 15% of Covid-19 patients require oxygen therapy. Therefore, the demand for oxygen generators is high, especially in countries that have been hit hard by the coronavirus. For example, when India was fighting the disastrous second wave of the virus in April 2021, medical oxygen has been in short supply. Due to the remote location of the oxygen plant, countries such as India are severely affected by the shortage of oxygen, resulting in many deaths. Many government systems around the world have collapsed and are unable to provide adequate oxygen supplies for patients with mild illness. It is here that the oxygen concentrator comes into play, providing some (if not enough) treatment for these patients. Due to insufficient oxygen supply, more and more patients around the world are beginning to use medical oxygen generators. This shows that COVID-19 has had a favorable impact on the global medical oxygen generator market.
Some of the leading companies in the global medical oxygen concentrator market are Inogen Inc., O2 Concepts LLC, Philips Respironics, Teijin Limited, Invacare Corporation, Covidien, AirSep Corp., Nidek Medical Products, Inc., DeVilbiss Healthcare, Inova Labs, Chart Industries, Inc., Precision Medical, Inc., GCE Group, Besco Medical Limited, Oxygen Solutions Inc., Yuwell-Jiangsu Yuyue Medical Equipment & Supply Co., Ltd., BPL Medical Technologies, Healthgenie, Equinox Overseas Pvt. Ltd. and other well-known companies . The prevalence of various medical device manufacturers around the world provides investment opportunities for new entrants in the global medical oxygen concentrator market, because the global medical oxygen concentrators are highly dispersed in nature.
In June 2021, Anashwar Technologies, a company headquartered in Pune, India, revealed that it created a do-it-yourself (DIY) design for medical oxygen concentrators by modifying open source materials to meet Indian requirements. The company has also added an oxygen analyzer to medical equipment to improve its functionality and gain a deeper understanding of the oxygen content on the equipment.
The in-depth analysis of the report provides information on the growth potential, upcoming trends, and the size and forecast statistics of the global medical oxygen concentrator market. The report promises to provide the latest technology trends and industry insights in the global medical oxygen concentrator market to help decision makers make reasonable strategic decisions. In addition, the report also analyzes the growth momentum, challenges and competitive dynamics of the global medical oxygen generator market.
The Australian medical oxygen concentrator market-by-products (portable oxygen concentrators and fixed oxygen concentrators); by technology (continuous dose and pulsed dose); by application (chronic obstructive pulmonary disease, asthma and others); by end user (home care, Travel, hospitals and clinics); by region (New South Wales, Victoria, Queensland, Western Australia, South Australia, Australian Capital Territory, Tasmania and Northern Territory); trend analysis, competitive market share And forecast, 2017-2027
The Indian oxygen generator market, by product type (portable oxygen generator, stationary oxygen generator); by application (acute disease, chronic disease, severe acute respiratory syndrome coronavirus 2 (Sars-Cov-2)); by End users (hospitals, home care, clinics, travel); trend analysis, competitive market share and forecast by region (North, South, East, West), 2017-2027
Respiratory equipment market, by product type (treatment equipment, monitoring equipment, diagnostic equipment, consumables and accessories), by indication (chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, infectious diseases, other diseases), by final Users (hospitals, home care institutions, outpatient care centers), by region (North America, Europe, Asia Pacific, South America, and the Middle East and Africa); trend analysis, competitive market share and forecast, 2016-2026
The global medical supplies market, by type (orthopedic equipment, IVD, diabetes care, wound management, nephrology, cardiovascular equipment, dentistry, diagnostic imaging, MIS, ophthalmic equipment, etc.), by end user (hospital, clinic, other), by type Regional (North America, Europe, Asia Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA)) trend analysis, competitive market share and forecast, 2017-2027
The medical sensor market divided by sensor type (pressure sensor, temperature sensor, blood glucose sensor, blood oxygen sensor, electrocardiogram (ECG) sensor, image sensor, etc.), by product type (non-invasive, invasive), by end user ( Hospitals) & Clinics, Nursing Homes and others), by application (diagnostic imaging, patient monitoring, medical implants and endoscopy, others); by region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa); Trend analysis, competitive market share and forecast, 2016-26
The global gas detection equipment market, by product type (fixed, portable), by gas type (oxygen, combustible, flammable, toxic), by technology (single gas detection, multi-gas detection), by application (oil and gas, chemicals, consumption) ) Electronics, mining, water treatment, building automation and construction, food and beverage, power generation/utilities), by region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), market trend analysis, competition analysis, scale And forecast, 2015-2025
BlueWeave Consulting provides companies with comprehensive market intelligence (MI) solutions for various products and services online and offline. We provide comprehensive market research reports by analyzing qualitative and quantitative data to improve the performance of your business solutions. BWC has built a reputation from scratch by providing high-quality inputs and cultivating long-term relationships with customers. We are one of the promising digital MI solution companies that can provide agile assistance to make your business successful.


Post time: Jul-02-2021