Global MedicalOxygen 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.
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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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Market Segmentation
Global
Medical Oxygen Concentrators Product Outlook (Revenue, USD Million, 2012 - 2022)
• Portable oxygen concentrators
• Fixed oxygen concentrators
Global
Medical Oxygen Concentrators Application Outlook (Revenue, USD Million, 2012 -
2022)
• Home care
• Non home care
Global
Medical Oxygen Concentrators Technology Outlook (Revenue, USD Million, 2012 -
2022)
• Continuous flow
• Pulse dose
Medical
Oxygen Concentrators Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• MEA
• South Africa
• Latin America
• Brazil
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