Medical Oxygen Concentrators Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

  • TBI368245
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel
                                              

Abstract, Snapshot, Market Analysis & Market Definition: Medical Oxygen Concentrators Market

Industry / Sector Trends

Medical Oxygen Concentrators Market size was valued at USD 1.4 billion in 2018 and is expected to witness 8.0% CAGR from 2019 to 2025. U.S.

Market Segmentation, Outlook & Regional Insights: Medical Oxygen Concentrators Market

Medical Oxygen Concentrators Market, By Product, 2018 & 2025 (USD Million) Growing chronic obstructive pulmonary disease (COPD) prevalence coupled with escalating number of cigarette smokers will drive market. Escalating production of smoke and dust in various occupational and industrial sectors will be the major medical oxygen concentrators market growth impacting factors. In addition, surging elderly population that is prone to various respiratory disorders will further stimulate global medical oxygen concentrators business growth. Increasing need of providing respiratory solution or support to neonatal and elderly patients, suffering from numerous respiratory anomalies will escalate the demand for medical oxygen concentrators. Numerous private and public organizations have implemented programs to monitor, diagnose and provide effective solutions to respiratory disorder patients. For instance, a COPD National Action Plan has been implemented in the U.S. to identify and reduce burden of COPD. Such initiatives will boost medical oxygen concentrators industry size in the coming years. Rising emphasis on reducing total cost burden of diseases, enhancing patients quality of life will upsurge medical oxygen concentrators business value. Growing economic burden of COPD coupled with increase in disease severity, hospital admissions and readmissions constitute significant bulk of cost across all stages of COPD. Hence, measures to reduce cost burden of COPD will boost the market growth. Stringent regulatory scenario is estimated to hinder medical oxygen concentrators industry growth in coming years.

Medical Oxygen Concentrators Market, By Product

Portable medical oxygen concentrators product segment held largest market share of over 51.0% in 2018 and is forecasted to grow at robust pace over the coming years. High revenue share is attributable to increasing demand for portable solutions owing to ease of carrying. Technological advancements such as pressure swing adsorption (PSA) and membrane technology further aids in rapid adoption of portable medical oxygen concentrators. Additionally, escalating occurrence of COPD and Federal Aviation Administration (FAA) approved advanced portable oxygen concentrators will boost portable medical oxygen concentrators segment growth over the coming years. Fixed medical oxygen concentrators product segment is estimated to progress at 5.9% CAGR over the projected timeframe. Benefits of fixed medical oxygen concentrators including ease of use and uninterrupted oxygen flow will be the major factors impacting fixed medical oxygen concentrators segmental growth. Moreover, higher oxygen output and low cost of fixed oxygen concentrators will boost the demand for fixed medical oxygen concentrators over coming years.

Medical Oxygen Concentrators Market, By Application

Home care medical oxygen concentrators application segment accounted for over 64.0% market share in 2018 and will continue to dominate industry in the forecast years. Advantages of home healthcare devices such as providing care specific to individual needs prevents spread of infections and also prevents hospital acquired infections that will highly impact customer preference. Increasing demand and preference of medical oxygen concentrators at home owing to rapid patient recovery rate and along with convenience will stimulate customer buying behaviour and thus impel home care medical oxygen concentrators market growth. Non-homecare medical oxygen concentrators segment will progress at 5.6% CAGR. Robust growth can be attributed to increasing elderly population suffering from chronic diseases and growing demand by hospitals, nursing homes and elderly care centres. Increasing hospitalizations owing to respiratory disorders will further increase product demand. Moreover, elderly population is prone to numerous chronic disorders such as COPD and requires oxygen concentrator to combat with such situation, that should positively impact non-homecare business growth. Germany Medical Oxygen Concentrators Market Size, By Application, 2018 (USD Million)

Medical Oxygen Concentrators Market, By Technology

Continuous flow medical oxygen concentrators technology segment dominated the global medical oxygen concentrators market with revenue size of USD 764.0 million in 2018. High revenue size can be attributed to growing demand for continuous flow oxygen concentrators in chronic conditions such as, chronic bronchitis, emphysema chronic obstructive pulmonary disease (COPD), and cystic fibrosis. High use of continuous flow oxygen concentrators in emergency situations will further drive medical oxygen concentrators segmental growth over the coming years. Pulse flow medical oxygen concentrators technology segment will grow at 9.0% CAGR over the projected timeframe owing to rapid advancement in the technology. Technological developments include automatic adjustments according to breathing rate, assistance and adherence to individual requirements with automatic adjustment to the setting. In addition, user-friendly nature of pulse flow medical oxygen concentrators developed by numerous firms will boost pulse flow technology segment growth.

Medical Oxygen Concentrators Market, By Region

U.S. market dominated the North America medical oxygen concentrators market with over 87% revenue share in 2018. Such high market share and growth is attributable to factors such as escalating prevalence of COPD coupled with changing lifestyle habits. Furthermore, growing elderly population and associated chronic conditions that require oxygen concentrators and rising pollution will offer lucrative U.S. medical oxygen concentrators industry growth potential over the coming years. Germany market is anticipated to grow at 6.8% CAGR over forecast timeframe. Rising COPD prevalence coupled, unhealthy food intake and growing adoption of tobacco consumption and smoking will be the major German market growth driving factors. Smoking upsurges the risk of respiratory diseases that should increase the demand for medical oxygen concentrators in Germany. Moreover, German government has been undertaking several initiatives to reduce pollution levels in the country and promote public health that should aid Germany medical oxygen concentrators industry growth in the forthcoming years. Asia Pacific Medical Oxygen Concentrators Market Size, By Country, 2025 (USD Million)

Key Players, Recent Developments & Sector Viewpoints: Medical Oxygen Concentrators Market

Some of the prominent industry players engaged in the global medical oxygen concentrators market are Chart Industries (AirSep), Inogen, Invacare, Philips Respironics and NIDEK Medical Products among other market players. Strategic acquisitions and new product launch are the key market growth strategies implemented by business players to strengthen their geographic range and uphold position in industry. For instance, in November 2016, Chart Industries announced launch of New Respiratory Center-of-Excellence in Canton U.S. to manufacture and deliver innovative respiratory products. This will enhance the firms BioMedical business growth.

Medical Oxygen Concentrators Industry Viewpoint

The history of medical oxygen concentrators industry can be tracked back to 1970s when such products were developed for homecare application. Homecare medical oxygen concentrators were larger in size in the initial days. Subsequent advancements and development of the product led to introduction of easy-to handle and customer friendly medical oxygen concentrators. Currently, many countries are implementing initiatives to control and reduce the burden of respiratory diseases. However, rising geriatric population as well as increasing consumption of tobacco will expand the demand and development of global medical oxygen concentrators industry in the foreseeable future.

Key Insights Covered: Exhaustive Medical Oxygen Concentrators Market

1. Market size (sales, revenue and growth rate) of Medical Oxygen Concentrators industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Medical Oxygen Concentrators industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Medical Oxygen Concentrators industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Medical Oxygen Concentrators industry.

Research Methodology: Medical Oxygen Concentrators Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

1 Report Overview
    1.1 Research Scope
    1.2 Major Manufacturers Covered in This Report
    1.3 Market Segment by Type
        1.3.1 Global Medical Oxygen Concentrators Market Size Growth Rate by Type (2019-2025)
    1.4 Market Segment by Application
        1.4.1 Global Medical Oxygen Concentrators Market Share by Application (2019-2025)
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Production and Capacity Analysis
        2.1.1 Global Medical Oxygen Concentrators Production Value 2014-2025
        2.1.2 Global Medical Oxygen Concentrators Production 2014-2025
        2.1.3 Global Medical Oxygen Concentrators Capacity 2014-2025
        2.1.4 Global Medical Oxygen Concentrators Marketing Pricing and Trends
    2.2 Key Producers Growth Rate (CAGR) 2019-2025
        2.2.1 Global Medical Oxygen Concentrators Market Size CAGR of Key Regions
        2.2.2 Global Medical Oxygen Concentrators Market Share of Key Regions
2.3 Industry Trends
        2.3.1 Market Top Trends
        2.3.2 Market Drivers

3 Market Share by Manufacturers
    3.1 Capacity and Production by Manufacturers
        3.1.1 Global Medical Oxygen Concentrators Capacity by Manufacturers
        3.1.2 Global Medical Oxygen Concentrators Production by Manufacturers
    3.2 Revenue by Manufacturers
        3.2.1 Medical Oxygen Concentrators Revenue by Manufacturers (2014-2019)
        3.2.2 Medical Oxygen Concentrators Revenue Share by Manufacturers (2014-2019)
        3.2.3 Global Medical Oxygen Concentrators Concentration Ratio
    3.3 Medical Oxygen Concentrators Price by Manufacturers
    3.4 Key Manufacturers Medical Oxygen Concentrators Plants/Factories Distribution and Area Served
    3.5 Date of Key Manufacturers Enter into Medical Oxygen Concentrators Market
    3.6 Key Manufacturers Medical Oxygen Concentrators Product Offered
    3.7 Mergers & Acquisitions, Expansion Plans

4 Market Size by Type
    4.1 Production and Production Value for Each Type
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