Global Medical Oxygen Concentrators Market Analysis, Trends and Insights 2020- 2026
Summary - A new market study, titled “Medical Oxygen Concentrators Market, By Product Types (Portable and Fixed Medical Oxygen Concentrators), By Application (Home Care, and Non Homecare), By Technology (Continuous Flow, and Pulse Dose), By Indication (Chronic Obstructive Pulmonary Disease, Asthma, and Sleep Apnea), By Mode of Delivery (Topical, Aerial Diffusion, and Direct Inhalation), and By Geography (NA, EU, APAC, LATAM and MEA) – Analysis, Share, Trends, Size, & Forecast From 2020 – 2026 has been featured on WiseGuyReports.
The medical oxygen concentrators market was valued at USD 1.69
billion by 2019, growing with 9.2% CAGR during the forecast period, 2020-2026.
Medical oxygen concentrator provides effective oxygen therapy to
chronic disease patients at greater oxygen concentrations compared to the
levels of ambient air. Oxygen concentrator products have become one of the most
convenient, and reliable sources of supplemental oxygen in the medical
industry. This product separates the oxygen from the nitrogen and delivers
high-concentration oxygen to the patient. These products typically output
oxygen between 80-100% FiO2, with flows between 3-10 LPM with one or two
outlets. The percent of oxygen received by the patient is depending on the mode
of delivery such as a nasal catheter, nasal prongs, and facemasks. Due to
technological advancements, the device does not need an oxygen tank and hence
more convenient to handle. Therefore, it can be used for patients in hospitals
as well as at home settings. The medical oxygen concentrator does not utilize
stored oxygen in a chilled or compressed form
Market Dynamics
Increasing prevalence of respiratory disorders such as COPD
along with rapid technological advancements is anticipated to drive the market
growth globally. Recent technological advancements in oxygen concentrators
include membrane technology and pressure swing adsorption (PSA). Medical oxygen
concentrators are used in emergency conditions which will further bolster the
growth of the segment within the forecast period. Furthermore, better medical
facilities and growing healthcare expenditure are some other important factors
responsible for market growth. In 2020, the sudden outbreak of COVID-19 across
the globe in 2020 has triggered the growth of the segment at a substantial pace
and is anticipated to overcome the market share. The segment is estimated to
dominate the market in the coming years and is expected to bolster over the
forecast period. However, high product costs will hamper the industry growth
significantly over the future period.
Product Type Takeaway
Based on product types, the global medical oxygen concentrators
market is segmented as portable and fixed medical oxygen concentrators. Among
these, portable medical oxygen concentrators category dominated the overall
market in terms of value and is continue to do so during the study period. This
product helps patients’ with a low level of blood oxygen. Companies are
actively investing in research and development activities to introduce advanced
portable products. For example, San Diego-based medical device company, ResMed,
offers ResMed Mobi portable oxygen concentrator. This product features
long-lasting battery life, lightweight design, and delivers the oxygen
effectively to the users. Some of the examples of portable devices commercially
available are; SeQual Eclipse 5, Respironics Simply Go, DeVilbiss iGo, Oxlife
Independence, and GCE Group Zen-O. It is analyzed that Oxlife Independence has
the largest footprint in this product category compared to other products. On
the contrary, escalating incidences of COPD coupled with advanced portable
oxygen concentrators approved by the Federal Aviation Administration (FAA) is
anticipated to bolster the fixed medical oxygen growth over the forecast
period.
Application Takeaway
On the basis of application, the market is classified as home
care and non-homecare. Of which, the non-homecare was the major
revenue-generating segment in 2019. The segment growth is majorly attributed to
the advancement in technologies resulting in the portability of the device.
Increasing demand for pure oxygen will also result in substantial growth of the
segment. On the flip side, the home care segment is projected to grow with the
fastest growth rate during the study period. An aging population coupled with
rising prevalence of chronic diseases will support the segment growth to a
great extent. Some of the key players namely Phillips Healthcare, Vitality
Medical, and Breath Well Medical Systems are actively involved in the
development of oxygen concentrators that can be used in home facilities.
Technology Takeaway
By technology, the global medical oxygen concentrator market is
categorized into the continuous flow and pulse dose. In terms of value, the
continuous flow segment was accounted for the highest revenue share in 2019.
The low cost of continuous-flow devices as compared to the pulse dose category
is considered to be one of the most important driving factors for the segment
growth. This technology offers a constant flow of oxygen regardless of oxygen
patient is exhaling or inhaling.
On the other side, the pulse dose category is projected to be
the fastest-growing industry segment during the study period. This attributed
to increasing investment in new product development by industry players coupled
with rising demand for technologically advanced products in the global market,
especially in the developed economies. High convenience and efficiency of the
pulse dose medical oxygen concentrator compared to continuous flow devices
further fuel the product demand. Pulse dose medical oxygen concentrators are
mainly used by users with an active lifestyle including sports players, regular
air travelers, and working professionals suffering mainly from chronic
obstructive pulmonary disease and other breathing issues such as cystic
fibrosis, emphysema, chronic bronchitis, etc.
Indication Takeaway
The global medical oxygen concentrators market is segmented by
an indication as a chronic obstructive pulmonary disease (COPD), asthma, and
sleep apnea. COPD dominates the worldwide medical oxygen concentrators market.
Increasing incidences of COPD and high efficacy of these devices in such
conditions will support the segment growth. On the contrary, asthma indication
is projected to grow with a promising growth rate during the study period.
Mode of Delivery Takeaway
Based on the mode of delivery, the global medical oxygen
concentrators market is categorized into the topical application, aerial
diffusion, and direct inhalation. Among which, topical application has captured
the highest revenue share of the global market. The mode of treatment has been
used in continuous flow of medical oxygen concentrators and it has the highest
share in terms of technology and therefore, it constitutes the highest revenue
share in the global market.
Regional Takeaway
The regional segmentation of the global medical oxygen concentrators
market includes North America, Latin America, Europe, Middle East & Africa,
and the Asia Pacific. Among the aforementioned regions, North America is
anticipated to dominate the global market over the forecast period. This is due
to the increasing aging population coupled with high incidences of breathing
issues. Federal Aviation Administration (FAA) has authorized the use of
portable oxygen concentrators during air travel which has fueled the growth of
the medical oxygen concentrators market across the region. However, Asia
Pacific medical oxygen concentrators market is projected to expand at a
substantial growth rate, attributed to prevalence of lung disorders and rising
healthcare expenditure.
Key Vendor Takeaway
A few of the prominent market vendors of the global medical
oxygen concentrators market are Covidien Ltd., O2 Concepts, Inova Labs Inc.,
Besco Medical Limited, Teijin Limited, Inogen Inc., Nidek Medical Products,
Inc., DeVilbiss Healthcare, AirSep Corporation, Philips Healthcare, and Invacare
Corporation.
Prominent players of the global medical oxygen concentrators
market are focusing on developing new products through high investments in
R&D in order to be competitive in the market. For instance, in April 2019,
Inogen, Inc. launched Inogen One G5 portable oxygen concentrator. The company
is supplying the product through a direct channel.
The market size and forecast for each segment and sub-segments
has been considered as below:
Historical Year – 2015 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2026
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments,
which include as follows:
MEDICAL OXYGEN CONCENTRATORS MARKET KEY PLAYERS
Covidien Ltd.
O2 Concepts
Inova Labs Inc.
Besco Medical Limited
Teijin Limited
Inogen Inc.
Nidek Medical Products, Inc.
DeVilbiss Healthcare
AirSep Corporation
Philips Healthcare
Invacare Corporation
MEDICAL OXYGEN CONCENTRATORS MARKET BY PRODUCT TYPE
Portable Medical Oxygen Concentrators
Fixed Medical Oxygen Concentrators
MEDICAL OXYGEN CONCENTRATORS MARKET, BY APPLICATION
Home Care
Non-Homecare
MEDICAL OXYGEN CONCENTRATORS MARKET, BY TECHNOLOGY
Continuous Flow
Pulse Dose
MEDICAL OXYGEN CONCENTRATORS MARKET, BY INDICATION
Chronic Obstructive Pulmonary Disease (COPD)
Asthma
Sleep Apnea
Others
MEDICAL OXYGEN CONCENTRATORS MARKET, BY MODE OF DELIVERY
Topical Application
Aerial Diffusion
Direct Inhalation
MEDICAL OXYGEN CONCENTRATORS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA
FOR MORE
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