What Will Be The Market Value Of Medical Oxygen Concentrators & Oxygen Cylinders Market By The End Of 2026?

 Medical Oxygen Concentrators & Oxygen Cylinders Industry Overview

The global medical oxygen concentrators & oxygen cylinders market size is expected to reach USD 3.7 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% over the forecast period. Technological improvements in oxygen concentrators, such as lesser weight, greater efficiency, high oxygen output, are anticipated to raise demand for portable concentrators, thereby aiding the growth of the market. These concentrators allow patients to adopt an active lifestyle. They can easily carry out their day-to-day activities while using these medical devices. Hence, manufacturers are trying to miniaturize these medical devices as smaller sizes are always preferred by patients.

 

In addition, the increasing prevalence of chronic obstructive pulmonary disease (COPD) and other lung disorders is another key factor driving the market. Prevalence of COPD and other lung disorders is high in tobacco smokers and people exposed to airborne pollutants. COPD is a leading cause of mortality and morbidity worldwide. According to the European Respiratory Society, in 2019, COPD emerged as the fourth major cause of mortality and morbidity and is expected to become the third leading cause of mortality and morbidity in the next ten years, if the prevalence grows at the same rate. According to the Global Burden of Disease Study, in 2016, the prevalence of COPD was 251 million globally.


Medical Oxygen Concentrators & Oxygen Cylinders Market Segmentation

Grand View Research has segmented the global medical oxygen concentrators & oxygen cylinders market on the basis of product, technology, end-user, and region:

Based on the Product Insights, the market is segmented into Portable Concentrator, Stationary Concentrator, and Oxygen Cylinders.

  • Portable medical oxygen concentrators accounted for the largest revenue share of 35.2% in 2019. Increasing prevalence of respiratory disorders, such as asthma, COPD, and pneumonia, is expected to boost the usage of portable oxygen concentrators over the forecast period.
  • The stationary medical oxygen concentrators are expected to witness slower growth as compared to portable devices. The older people with limited movements opt for these medical devices. Hence, its adoption in countries with a large geriatric population is increasing.
  • Oxygen cylinders are expected to witness significant growth over the forecast period. Purity of oxygen supplied by these medical devices and their simple structure are some of the key factors aiding their growth. Oxygen cylinders, when compared to concentrators, have finite oxygen supply. However, these medical devices do not require any battery to operate.

 

Based on the Technology Insights, the market is segmented into Continuous Flow, and Pulse Flow.

  • Continuous flow accounted for the largest revenue share of 87% in 2019. Rapid technological advancement pertaining to new product development is expected to boost the usage of medical oxygen concentrators. Furthermore, ongoing use of respiratory equipment for oxygen therapies is anticipated to boost the segment growth.
  • Pulse flow technology in oxygen concentrators is expected to witness the fastest growth over the forecast period owing to technological advancements. The technology is more efficient and convenient as compared to continuous flow and is majorly used by the patients who take 450 mL to 1250 mL per minute of oxygen in short pulses.

 

Based on the End-user Insights, the market is segmented into Home Care, and Non-homecare.

  • The home care segment dominated the overall medical oxygen concentrators and oxygen cylinders market with a revenue share of 56.4% in 2019. Increasing demand for home healthcare oxygen therapies, coupled with rising demand for pure oxygen and technological advancements, such as miniaturization of these medical devices, is expected to contribute to the segment growth over the forecast period.
  • The non-homecare segment has witnessed significant growth in the year 2020 due to the sudden outbreak of COVID-19 across the world, which has increased the demand for supplemental oxygen therapy products, such as wall-mounted and repurpose home oxygen equipment, to combat against this pandemic.

 

Medical Oxygen Concentrators & Oxygen Cylinders Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The medical oxygen concentrators and cylinders industry is highly fragmented due to the presence of a number of large, small, and local players. Companies are significantly increasing their manufacturing capacities and training efforts to meet the rising demand for these concentrators and cylinders. For instance, ResMed, Invacare Corporation, and CAIRE, Inc. are some of the leading companies in the oxygen concentrators market that are poised to witness significant growth in the next 2-3 quarters of 2020 owing to their large portfolio of respiratory devices. Some of the prominent players in the medical oxygen concentrators & oxygen cylinders market include:

  • Drive DeVilbiss Healthcare, Inc.
  • Philips Healthcare
  • Invacare Corporation
  • Nidek Medical
  • Inogen, Inc.
  • AirSep Corporation
  • ResMed

 

Order a free sample PDF of the Medical Oxygen Concentrators & Oxygen Cylinders Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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