The global Medical Oxygen Concentrator Market Size research report offers the definition, market shares, drivers, restraints, opportunities, and challenges in an voluminous format. On the basis of Type, the market is further categorized into based on the regions, the market is distributed into Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. This markets competitive manufactures and the upcoming manufactures are studied with their research. Revenue, production, price, market share of these players is mentioned with detailed information.
Medical Oxygen Concentrator
Market study offers an exhaustive summary of the vendor landscape, competitive
analysis, and key strategies to gain ruthless advantage. Medical Oxygen
Concentrator Market Forecast provides sizing and growth opportunities. It
provides comprehensive insights on the latest industry trends, forecast, and
growth drivers in the market. it also includes a detailed analysis of growth
drivers, challenges, and investment opportunities and delivers a complete
overview of segments and the regional outlook of the market.
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Global medical oxygen
concentrator market is expected to witness a high growth on account of its
increasing incidences of asthma and respiratory diseases. Medical oxygen
concentrator is designed for the supply of enriched oxygen gas from a gas
supply. These products were invented in the early 1970’s and have
revolutionized medical treatments of chronic and acute patients. These devices
use pressure swing absorption technology used to separate some gas species from
a mixture of gasses. Health care applications of this concentrator are the
major factor driving the overall market demand. These devices are useful in
providing oxygen supply to critical patients suffering from respiratory
disorders. As per the Centers for Disease control and Prevention, in 2013,
around 22 million people suffered from asthma in the U.S. This device usage in
the treatment of asthma patients is expected to drive the market over the
forecast period.
Home medical therapy is
another factor that drives the market demand is expected to propel the growth
in near future. Recent trends have shown that there has been a significant
growth household medical therapy. Rising incidences of respiratory and cardio
vascular diseases coupled with the aging population drive the usage of oxygen
concentrators at patients home. This has given rise to portable concentrators
which allow patients to carry their movements. Increasing application in
commercial aircrafts has been driving the market demand in recent years. In
2014, The Federal aviation administration, the U.S approved around 20 models
and brands of portable oxygen concentrators which can be used during air travel
emergency.
Medical applications in the
defense sector are anticipated to provide bright prospects for the overall
industry growth. Portable oxygen concentrator devices are used by the military
during disasters and relief activities for the treatment of victims especially
at high altitudes or places where the oxygen concentration is low. It is even
used in military aircraft at high altitudes to supply the aircrew with oxygen.
Portable oxygen concentrators provide huge opportunities for the overall market
growth. These devices are compact in size and low in cost. These devices can be
easily fitted inside a passenger vehicle using a vehicle DC adapter. The
competition in the field of portable oxygen concentrators is expected to propel
the innovation and reduction in product price.
Market segmentation is done
on the basis of end use which includes its usage in hospitals, homecare,
aircrafts and military. Application in hospitals accounts for maximum segment
share especially in North America owing to improved medical facilities. North
America has been the leading market in recent years in terms of demand and is
expected to continue its dominance owing to developed health care sector and
increasing government initiatives for sophisticated medical devices.
Further, regional demand is
followed by Asia Pacific mainly on account of increasing incidences of asthma
and respiratory diseases incidences. Emerging economies including India and
Malaysia is expected to provide bright opportunities on account of increasing
privatization in healthcare. Europe is expected to show a steady growth over
the forecast period owing to government initiatives. Central and South America
is anticipated to witness a substantial growth mainly due to medical tourism in
countries including Mexico, Brazil, Cuba and Ecuador. Africa is expected to
witness a slow growth owing to developing healthcare sector.
Major players operating in
the market are GE healthcare, Philips, and Siemens. Other market players
include Smiths medical, Tejjin limited, Airsep Corporation, Invacare
corporation. OSI systems, Inova labs, Vygon, Oxlife and O2concepts.
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