Medical Oxygen Concentrators 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.
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Market Synopsis of Medical Oxygen Concentrators Market:
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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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Medical Oxygen
Concentrators: Market Variables, Trends & Scope
Chapter 4 Medical Oxygen
Concentrators: Product Estimates & Trend Analysis
Chapter 5 Medical Oxygen
Concentrators: Application Estimates & Trend Analysis
Chapter 6 Medical Oxygen
Concentrators: End-use Estimates & Trend Analysis
Chapter 7 Medical Oxygen
Concentrators: Industrial End-use Estimates & Trend Analysis
Chapter 8 Medical Oxygen
Concentrators: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Medical Oxygen
Concentrators: Manufacturers Company Profiles
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