Medical Oxygen Concentrators Market (By Product: Stationary Oxygen Concentrators, Portable Oxygen Concentrators; By Mode of Delivery: Topical Application, Aerial Diffusion, Direct Inhalation; By Application: Home Care, Non-Home Care; By Technology: Pulse Dose, Continuous Flow) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190


According to Acumen Research and Consulting, the global Medical Oxygen Concentrators market is expected to grow at noteworthy CAGR around 7 % throughout the forecast period and reach around US$ 3 billion by 2026. The report provides analysis of global Medical Oxygen Concentrators market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Medical oxygen concentrators offer patients a cost-effective oxygen treatment in which oxygen supplements and the need for heavy oxygen tanks are eliminated. Personal concentrate oxygen pulls in regular air filters from certain other gasses and delivers concentrated oxygen of medical standard. Increased COPD incidences among the population will increase product demand.

Market Dynamics

Increased prevalence of COPD and progress in technology are the key drivers of the market. WHO data states that, in 2016 there were 251 million cases of COPD worldwide, with 317 million deaths in the previous year. In addition, the high level of air pollution and increasing numbers of smokers in countries on middle incomes accounted for 90percent of these deaths. This scenario presents profitable growth opportunities for market players to undertake awareness-raising projects to improve the quality of life significantly through the use of oxygen concentrations. Moreover, the increasingly chronically susceptible geriatric population will also increase demand for products, thereby driving the global market.

The UN estimated that the global geriatric population in 2017 was 962 million and is forecast to reach 2.1 billion by 2050, according to data published by the United Nations. Favorable reimburses are also expected to have a positive effect on the market for these concentrators, especially portable ones. In addition, awareness campaigns to educate and empower COPD patients will boost growth, such as the World COPD Day for the Global Initiative for Chronic Obstructive Lung Diseases (GOLD).

Phillips developed motivational content for education, involvement, and empowerment of patients and caregivers to raise awareness of COPD in partnership with athlete Russell Winwood. Concentrate technological innovations further boost market growth. Key companies develop or modify products and thus increase competition. For example, for patients with COPD, bronchitis and / or other respiratory disorders, Inogen developed a product called Inoge at Home. Home's inogen is a light and energy-efficient product that allows continuous oxygen flows of 5 liters per minute.

Product Outlook

The portable product sector led the market by over 900 million USD in 2018, and is expected to record the fastest CAGR over the projected period. The demand for portable concentrated medical oxygen concentrators is driven by increased demand, the growing geriatric population base and the growing younger populations with COPD. For oxygen therapies portable devices with higher concentrations of oxygen than ambient air are used.

Mainly due to advantages such as smaller dimensions, better mobility and higher capacities for oxygen suited for all circumstances this equipment is possible for travelers. The increasing prevalence is expected to increase the demand for portable devices in different respiratory disorders. In addition, a major shift in favor of mobile products would further strengthen growth of the segment in terms of reimbursement coverage.

The segment will also benefit from a range of advantages offered by these concentrators, including continual supplies of survival oxygen, improved exercise tolerance, easier handling, less maintenance, better battery power, and permitted utilization of concentrators on airplanes and airports. While stationary concentrations are expected to grow steadily from 2019 to 2026 by 3.3 percent. These devices are more stable as compared to mobile oxygen sources, free from hands, and tubing.

Application Outlook

Home care medical concentre, due to factors like the increase in geriatric population, increasing prevalence of COPD, and increased demand for household healthcare oxygen treatments, was the dominant overall market for 2018 and represented 55.4% of the total income share. Home oxygen concentrate systems support independence and help the patient to carry out his daily activities easier and safer.

Given that COPD is mostly diagnosed in the middle and elderly, doctors recommend home oxygen concentrate oxygen therapies to help with shortness of breath in serious cases. Home-care concentrators for medical oxygen include portable and stative concentrations of oxygen, which are mainly used in home oxygen treatments. The home care segment is therefore also expected to develop in the forecasted period as the fastest growing segment with lucrative growth.

During the forecast period, the non-Home care segment will grow at a continuous growth rate of 5,9 %. The use of oxygen concentrators in non-home care is mainly applied to health centers and hospitals. The increasing prevalence of COPD, respiratory disorders such as occupational lung diseases, asthma, and the growing geriatric population susceptible to infectious diseases are key factors that drive market growth.

Technology Stance

Due to rapid technological and product developments, the continuous flow technology segment led the general market in 2018. With their continued innovations, including the development of a pressurized swing adsorption technology suited for astronauts to meet the demands of spacecraft oxygen, NSBRI Smart Medical Systems and Technology will contribute to further growth. The increasing segment is also driven by the growing prevalence of chronic problems in respiration and the ongoing use of respiratory equipment to treat oxygen. Pulse dose technology is projected to be the fastest CAGR of 10.1% over the predicted period. The "demand flow of oxygen supply" is considered this technology.

The benefits offered by the technology will enhance its demand on the global market, such as high mobility, enhanced technologies, improved comfort and increased efficiency. Pulse dose technology is widely used for portable concentrator systems and is safer and reliable than continuous flow technology because it features an sensor capable of detecting the next inhalation. The upper limit of 40 breathes per minute has been estimated for the pulse dose device. The device still delivers a dose in every breath when the breath rate increases to 40 BPM.

Regional Stance

Due to developed home healthcare services, high prevalence’s of respiratory disorders and favorable reimbursement policies in the USA, North America was the biggest market in terms of revenue sharing in 2018. Another major driver of growth in the region is the increasing geriatric population in North America. According to UN data, more than 78 million people were over 60 years old in North America in 2016.

The region is also likely to be enhanced by favorable government initiatives such as the Federal Aviation Administration (FAA) which authorize portable concentrate usage during air travel. In addition, there will be further growth in the region with the presence of key companies, including Philips Respironics, SeQual, Invacare, Oxus, Inogen, AirSep, and Inova Labs Inc.

In the forecast period, Asia Pacific is expected to emerge as the highest rising region. India's market emerges as a two-way market. Increasing prevalence of COPDs and other respiratory disorders is a result of rapid growth. In addition, increasing medical spending, awareness of the technological advances in diagnosis and demand for portable concentrate systems have been said to further drive the regional market.

Market Segmentation

Global Medical Oxygen Concentrators Market, By Product

  • Stationary Oxygen Concentrators
  • Portable Oxygen Concentrators

Global Medical Oxygen Concentrators Market, By Mode of Delivery

  • Topical Application
  • Aerial Diffusion
  • Direct Inhalation

Global Medical Oxygen Concentrators Market, By Application

  • Home Care
  • Non-Home Care

Global Medical Oxygen Concentrators Market, By Technology

  • Pulse Dose
  • Continuous Flow

Global Medical Oxygen Concentrators Market, By Geography

  • North America.
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa (MEA)

The market research study on “Medical Oxygen Concentrators Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Medical Oxygen Concentrators market segments with market dynamics and their impact. The report also covers basic technology development policies.

The report provides an analysis of the latest industry trends from 2015 to 2026 in all sub-segment segments and forecasts revenue and volume growth on the global, the regional and country levels. ARC has divided the global market report of medical oxygen concentrations on product, application, technology and region for this study.

Key Players & Strategies

The presence of Invacare Corporation; DeVilbiss Healthcare GmbH; Inogen Inc.; Covidien Ltd.; Philips Healthcare; Nidek Medical; AirSep Corporation; and ResMed is extremely fragmented. Manufacturers seek to increase their market share by means of strategies such as new product development and progress in existing products as well as merger and procurement.

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