North America Oxygen Concentrators Market Size, Share & Trends Analysis Report By Product (Portable, Fixed), By Application, By Technology (Continuous Flow, Pulse Flow), By Region, And Segment Forecasts, 2021 - 2028
New York, June 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Oxygen Concentrators Market Size, Share & Trends Analysis Report By Product, By Application, By Technology, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06096562/?utm_source=GNW
North America Oxygen Concentrators Market Growth & Trends
The North America oxygen concentrators market size is expected to reach USD 2.5 billion by 2028. The market is expected to expand at a CAGR of 10.7% from 2021 to 2028. The growing prevalence of Chronic Obstructive Pulmonary Disease (COPD) along with other lung diseases is a major parameter driving the market. According to the Centers for Disease Control and Prevention, 9 million people suffered from chronic bronchitis and 3.8 million from emphysema in 2018 in the U.S. Moreover, 3.8 million people in Canada had asthma and 2.0 million people had COPD in 2018, according to the Government of Canada. The use of supplemental oxygen increases the survival rate of COPD patients. Thus, the increasing dependence of COPD patients on O2 concentrators is driving the market.
The increasing number of initiatives to promote awareness of lung diseases as well as the importance of O2 generators are contributing to the growth of the market.For instance, the American Lung Association works to create awareness of COPD and increase federal funding for research and development.
Furthermore, the National Institute of Health sponsors a nationwide awareness campaign “Learn More, Breathe Better”, which encourages the population over the age of 45 years who are at risk of experiencing symptoms of COPD to have a diagnostic breathing test, and consult the medical professionals for treatment options.Moreover, technological advancements and the easy availability of a large variety of O2 concentrators are driving the market.
For instance, in July 2020, GCE introduced a series of Fixed Medical Oxygen Concentrators including M50, EC-E100, and OC-E 80 for patients requiring long-term oxygen therapy.
The sudden outbreak of the COVID-19 pandemic has increased the demand for respiratory care products.Low blood oxygen level is one of the effects of COVID-19 and patients require oxygen support for recovery.
Additionally, the U.S. Food and Drug Administration has allowed the usage of O2 generators under the Emergency Use Authorization scheme. This, in turn, is estimated to drive the market.
North America Oxygen Concentrators Market Report Highlights
• The portable product segment dominated the market and accounted for the largest revenue share of 51.6% in 2020
• The home care segment dominated the market and accounted for the largest revenue share in 2020 and is projected to expand at the fastest CAGR during the forecast period
• The continuous flow segment dominated the market and accounted for the largest revenue share of 51.5% in 2020, whereas the pulse flow segment is projected to expand at the fastest CAGR during the forecast period
Read the full report: https://www.reportlinker.com/p06096562/?utm_source=GNW
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