DUBLIN, July 27, 2021--(BUSINESS WIRE)--The "Global Oxygen Concentrators Market, By Type (Portable v/s Stationary), By Technology (Continuous Flow, Pulse Flow, Continuous/Pulse Flow), By Flow-rate (0-5l/min, 5-10l/min, Above 10l/min), By Application, By End Users, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Oxygen Concentrators Market stood at USD 2409.36 million in 2020 and is expected to grow at a steady rate of 4.38% during the forecast period.
This can be ascribed to the growing prevalence of chronic respiratory disorders and other chronic diseases including COPD, lung cancer, strokes, among others.
According to the Global Burden of Disease Study report, there were around 251 million cases of COPD globally in 2016 which have significantly increased the demand for oxygen concentrators. Over the years, COPD has become the fourth largest cause of death across the globe and is projected to become third largest cause of deaths in the coming years, globally. This in turn is expected to fuel the market growth over the next few years also.
Additionally, the sudden outbreak and spread of the COVID-19 pandemic across the globe significantly increased the demand for oxygen concentrators. Oxygen concentrators help in providing oxygen support to COVID-19 patients who face breathing issues. The surge in COVID-19 cases drastically increased the demand for oxygen concentrators in 2020.
Also, certain countries which are experiencing the second wave of the pandemic spread in 2021 are witnessing significant demand for oxygen concentrators.
For instance, India, which experienced the second wave of pandemic spread in the months of April and May 2021, has created huge market and demand for oxygen concentrators. Also, Malaysia, which is going through the second wave of pandemic spread, is having massive demand for oxygen concentrators. Similarly, the demand has drastically increased in the countries present in the South American region.
The Global Oxygen Concentrators Market is segmented based on type, technology, flow-rate, application, end-user, company, and regional distribution. Based on type, the market can be split into portable oxygen concentrator, and stationary oxygen concentrator. The portable oxygen concentrator segment dominated the market in 2020 with an overall market share of around 79.53%.
This can be ascribed to the widespread use of portable oxygen concentrators in hospitals and also for homecare purposes for the treatment of COVID-19 cases. The significant surge in COVID-19 cases led to the colossal demand of portable oxygen concentrators.
Advantages such as light-weight, small size, cost-effectiveness, among others associated with portable oxygen concentrators are further strengthening the demand for oxygen concentrators over the next few years. Furthermore, growing demand for portable oxygen sources from intensive care units (ICUs) is expected to foster the market growth over the next few years.
Major companies operating in the Global Oxygen Concentrators Market include Koninklijke Philips N.V., Invacare Corporation, Inogen Inc., NGK Spark Plug Co., Ltd., Linde Healthcare, among others.
The players operating in the market are using organic strategies for growth including mergers & acquisitions and are expanding their product portfolio to stay competitive in the market and have an edge over their competitors. For instance, in October 2019, Precision Medical, Inc. launched its new oxygen concentrator "The Live Active Five" which is designed to assist people suffering from respiratory ailments such as COPD.
Additionally, leading the evolution of portable oxygen concentrators (POCs) in the market, Inogen has recently added a compact One G5 system to the family of Inogen's portable and user-friendly oxygen concentrators. The next-gen device features advanced flow settings and extended battery life to accommodate the varying needs of the consumers.
While the pioneer company had earlier focused on designing exclusive at-home oxygen concentrators, the latest medical oxygen system is small, lightweight, and convenient enough to be carried everywhere.
Years considered for this report:
Historical Years: 2016 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2026
Global Oxygen Concentrators Market, By Type:
Global Oxygen Concentrators Market, By Technology:
Global Oxygen Concentrators Market, By Flow-rate:
Global Oxygen Concentrators Market, By Application:
Global Oxygen Concentrators Market, By End-User:
Hospitals & Clinics
Ambulatory Care Centers
Global Oxygen Concentrators Market, By Region:
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in the Global Oxygen Concentrators Market.
Koninklijke Philips NV
Precision Medical, Inc
Drive DeVilbiss Healthcare LLC
Nidek Medical Products Inc
NGK Spark Plug Co, Ltd
For more information about this report visit https://www.researchandmarkets.com/r/g92dw8
View source version on businesswire.com: https://www.businesswire.com/news/home/20210727005703/en/
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