The latest market report published by Credence Research, Inc. “Oxygen Concentrators Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025,” the global oxygen concentrators market was valued at US$ 1,045.6 Mn in 2016, and is expected to reach US$ 2,869.5 Mn by 2025 expanding at a CAGR of 10.97 % from 2017 to 2025.
Browse the full report Oxygen Concentrators Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/oxygen-concentrators-market
According to the World Bank study report the rise in air pollution and particulate matter such as sulfur dioxide, ozone, 2.5micron particulate matter, sand etc., due to rapid industrialization and urbanization has resulted in the surge of chronic pulmonary diseases. As per the World Health Organization report in 2015 approximately 3 million people died due to chronic pulmonary obstructive diseases which represents 5% of all the deaths globally.
Presently portable oxygen concentrator holds the largest market share due to key drivers such as increasing public health awareness, inherent features of oxygen concentrators such as lightweight, robustness, easy installation to main air ventilation supply etc. Additionally portable oxygen concentrators finds huge application in places such as airports, shopping malls, commercial airlines, and offices. Fixed oxygen concentrators will grow rapidly as it grants quick access to the oxygen concentrators as the auxiliaries are prefabricated so handling is easy and is of prime importance in elderly healthcare centers at night when the elderly patients with pulmonary complications are sleeping.
Homecare enjoys domination owing to increasing number of households addicted to smoking results in the demand for fresh air enriched in oxygen, promotes early patient recovery due to comfort and provides reinforcement care from the patient’s family and caregivers. Long term rehabilitation and nursing will record a steady growth on account of increasing high patient volume in these centers over the past decade, rise in geriatric population suffering with chronic pulmonary diseases requiring long term medical intervention.
The oxygen concentrators market is made of chief players such as AirSep Corporation, Covidien Ltd., DeVilbiss Healthcare, Inogen, Inc., Inova Labs, Inc., Invacare Corporation, Nidek Medical, O2 Concepts, Philips Healthcare, Teijin Ltd and Teleflex Incorporated.
Key Market Movements:
- Rising prevalence of chronic pulmonary diseases such as asthma, COPD, bronchitis and emphysema
- Increasing public health awareness and disposable incomes in the developing nations to drive oxygen concentrators market growth
- Supportive regulatory environment for oxygen concentrators products
- Technological advancement in the components of oxygen concentrators will propel market penetration for oxygen concentrators in the developing regions