Demand for oxygen therapies had been rising in the last couple of decades as numerous studies have pointed out that patients who undergo oxygen therapy live longer and lead more active lives. Medical oxygen concentrators market has therefore been expanding as oxygen concentrators have come to be increasingly used in not only hospitals and clinics but at homes by patients who require outpatient treatments or patients who wish to travel and continue to lead normal lives with considerable mobility in spite of the need for continuous requirement of oxygen supply.
Oxygen concentrators are less portable than the other options. An oxygen concentrator is a device that takes oxygen from the room, concentrates it for therapeutic use, and removes other naturally occurring gases. The benefits of concentrators are that they are less expensive and don’t require filling like tanks. Portable versions are available. However, most models are too large to be truly portable.
Oxygen is distributed from the tank through a tube. It enters the lungs through nasal tubes, a face mask, or a tube inserted directly into the person’s windpipe.
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Segmentation
The global medical oxygen concentrators market has been segmented into product, technology, indication, end user, and region.
By product, the market has been segmented into portable oxygen concentrators and stationary oxygen concentrators.
On the basis of technology, the market has been divided into the continuous flow and pulse dose.
Based on indication, the market has been categorized into chronic obstructive pulmonary disease, asthma, sleep apnea, and others.
By end user, the market has been classified into homecare, travel, hospitals and clinics, and others. Home oxygen concentrators facilitate convenience and make it easier and safer for the patient to complete their day-to-day activities, which is supporting the dominance of the homecare segment during the next six years.
Regional Analysis:
Geographically, the North America held a substantial share in the medical oxygen concentrators market in 2018 which can be attributed to the presence of established home healthcare care services, active participation of key market players, increasing incidence of respiratory diseases, and favorable reimbursement scenario in the U.S. and Canada.
Expanding geriatric population in Europe coupled with rising prevalence of asthma, pulmonary hypertension, COPD, and fibrosis, would lead the region to be the second largest value contributor to the medical oxygen concentrators market.
Increasing healthcare expenditure, improvement in healthcare infrastructure and expanding awareness about need for oxygen concentrators will augment Asia-Pacific medical oxygen concentrators market growth. The region is anticipated to register the fastest market CAGR over 2018-2024 owing to increasing demand for portable concentrators.
The medical oxygen concentrators market in the Middle East & Africa would witness the modest market growth rate from 2018 to 2024. The Middle East would spearhead the market attributed to the rising prevalence of sleep apnea.
Competitive Landscape:
Some of the companies that are making considerable contribution to the medical oxygen concentrators market include Philips Healthcare, Invacare Corporation, AirSep Corporation, Drive DeVilbiss Healthcare, Medtronic plc, ResMed, Chart Industries, Inc., Nidek Medical Products, Inc., Precision Medical, Inc., GCE Group, Besco Medical Limited, O2 Concepts, LLC, Inogen, Teijin Limited, OSI - Oxygen Solutions Inc.
Industry News:
CAIRE, an oxygen supply manufacturer, recently launched the new FreeStyle Comfort portable oxygen concentrator that is equipped autoSAT® technology which is a proprietary clinical feature that ensures the consistent delivery of oxygen levelled with the user’s respiratory rate that varies throughout their daily routine.
As patient base who require home based oxygen supply continue to expand, FreeStyle Comfort is expected to be an integral part of the homebased healthcare market scenario.
The enhanced FreeStyle Comfort is designed to be comfortable to wear due to its unique ergonomic design. The device meets FAA guidelines for use on commercial air flights, and offers wireless connectivity to CAIRE’s telehealth solution, CAIREview™.
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