The global medical oxygen concentrators & oxygen cylinders market size is expected to reach USD 3.7 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% over the forecast period. Technological improvements in oxygen concentrators, such as lesser weight, greater efficiency, high oxygen output, are anticipated to raise demand for portable concentrators, thereby aiding growth of the market. These concentrators allow patients to adopt an active lifestyle. They can easily carry out their day-to-day activities while using these medical devices. Hence, manufacturers are trying to miniaturize these medical devices as smaller sizes are always preferred by patients.
In
addition, increasing prevalence of chronic obstructive pulmonary disease (COPD)
and other lung disorders is another key factor driving the market. Prevalence
of COPD and other lung disorders is high in tobacco smokers and people exposed
to airborne pollutants. COPD is a leading cause of mortality and morbidity
worldwide. According to the European Respiratory Society, in 2019, COPD emerged
as the fourth major cause of mortality and morbidity and is expected to become
the third leading cause of mortality and morbidity in the next ten years, if
the prevalence grows at the same rate. According to the Global Burden of
Disease Study, in 2016, the prevalence of COPD was 251 million globally.
COPD
is a leading cause of death in U.S., however many people are still ignorant
about it, thus many cases remain undiagnosed. Hence, governments in various
countries have undertaken initiatives to educate people about the early
symptoms and ways of managing the condition. For instance, the National Heart,
Lung, and Blood Institute (NHLBI) in U.S. initiated the COPD Learn More Breathe
Better Program-a national health education program-that aims to create
awareness about lung health in the country. Rising number of government
initiatives and awareness campaigns by various organizations to educate
patients about COPD is expected to drive the market for medical oxygen
concentrators and cylinders over the forecast period.
For Full Research Report On Medical Oxygen Concentrators & Oxygen Cylinders Market
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Medical Oxygen
Concentrators & Oxygen Cylinders Market Report Highlights
- Portable concentrators
emerged as the leading product segment in 2019 with a revenue share of
35.2%
- By technology, continuous
flow accounted for the largest revenue share in 2019. The pulse flow
segment is projected to expand at the fastest CAGR during the forecast
period
- Based on end user, home care
emerged as the leading segment in 2019 owing to growing usage of
home-based therapy
- North America accounted for
the largest market share based on revenue in 2019. Increasing prevalence
of COPD, growing geriatric population, and technology advancements are
driving the usage of these medical devices amongst people in U.S.
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Medical Oxygen
Concentrators & Oxygen Cylinders Market Segmentation
Grand View Research has segmented
the global medical oxygen concentrators & oxygen cylinders market on the
basis of product, technology, end user, and region:
Medical Oxygen
Concentrators & Oxygen Cylinders Product Outlook (Volume, 000’ Units,
Revenue, USD Million, 2014 - 2026)
- Portable Concentrator &
Cylinders
- Stationary Concentrator
& Cylinders
- Oxygen Concentrator &
Cylinders
Medical Oxygen
Concentrators & Oxygen Cylinders Technology Outlook (Volume, 000’ Units,
Revenue, USD Million, 2014 - 2026)
- Continuous Flow
- Pulse Flow
Medical Oxygen
Concentrators & Oxygen Cylinders End-user Outlook (Volume, 000’ Units,
Revenue, USD Million, 2014 - 2026)
- Home Care
- Non-homecare
Medical Oxygen
Concentrators & Oxygen Cylinders Regional Outlook (Volume, 000’ Units,
Revenue, USD Million, 2014 - 2026)
- NorthAmerica
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
List of Key Players
of Medical Oxygen Concentrators & Oxygen Cylinders Market:
- Drive DeVilbiss Healthcare,
Inc.
- Philips Healthcare
- Invacare Corporation
- Nidek Medical
- Inogen, Inc.
- AirSep Corporation
- ResMed
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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