Medical Oxygen Concentrators Market |
Medical professionals frequently
employ oxygen concentrators for therapeutic and diagnostic purposes. In
homecare settings, medical oxygen gas systems like oxygen concentrators and
compressed oxygen gas cylinders are widely used. Older patients who have
mobility issues and need a consistent oxygen supply typically choose these
systems.
The market for medical oxygen concentrators is anticipated to reach a
value of US$ 1,834 million in 2021 and grow at a CAGR of 9.0% from 2021 to
2028.
Technology, product, end user,
and geography are the key segments used to divide the worldwide Medical
Oxygen Concentrators Market. The market is divided into pulse flow and
continuous flow according to technology. The market is divided into portable
and stationary categories based on product.
Hospitals, home healthcare,
ambulatory surgical centers, and doctor's offices make up the different
end-user categories. North America (the U.S., Canada, and Mexico), Europe
(Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific
(Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific),
and LAMEA (Brazil, South Africa, Saudi Arabia, and the rest of LAMEA) are the
regions that the Medical
Oxygen Concentrators Market is examined in terms of geography.
The continuous flow category,
which led the market in 2020 depending on technology, is anticipated to keep up
this trend over the next several years. This is related to the rise in the elderly
population, which is anticipated to boost Medical Oxygen Concentrators Market
expansion, as well as lifestyle choices including smoking and alcohol use. The
fixed segment led the market in terms of products in 2020, and this trend is
anticipated to continue over the forecast period. This is explained by the rise
of chronic illnesses such as gastrointestinal problems, respiratory illnesses, and
cardiovascular illnesses.
Due to the increased incidence of
COVID-19 cases and the increase in the number of elderly people in this area, North
America had the highest share of the global Medical Oxygen Concentrators Market in 2020, followed by Europe. Daily
exposure to environmental pollution, an increase in the population vulnerable
to indoor air pollutants, and an increase in the number of people who smoke
actively are the main factors driving the growth of the worldwide Medical
Oxygen Concentrators Market. High costs and strict regulations, however, are
anticipated to impede industry expansion.
Major
players operating in the global Medical Oxygen Concentrators Market include
Inogen Inc., Invacare Corporation, Oxygen ToGo, LLC, O2 Concepts, LLC, GCE
Group, ResMed Inc., Drive DeVilbiss Healthcare LLC, Precision Medical,
Inc., Besco Medical Co. Ltd., Koninklijke Philips N.V.
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More - https://www.globenewswire.com/en/news-release/2022/02/01/2376726/0/en/Global-Medical-Oxygen-Concentrators-Market-to-Surpass-US-3-356-Million-by-2028-at-a-CAGR-of-9-0-Says-Coherent-Market-Insights-CMI.html
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