Home Oxygen Concentrator Market is Set To Fly High in Years to Come
Updated · May 23, 2023
Published Via 11Press : The Global Home Oxygen Concentrator market is expected to see growth rate of 7.07% and may see market size of USD1765.32 M by 2028.The Market is currently pegged at USD1183.84 M.
The most current market research study that HTF MI has released on the worldwide Home oxygen concentrator market analyses opportunities, emphasises risk factors, and uses tactical and strategic decision-making tools. The research offers details on market trends and developments, driving forces, technology, and the changing investment landscape for home oxygen concentrators.
What is Home Oxygen Concentrator?
Oxygen performs a fundamental function in the respiratory processes and in the metabolism of the dwelling organisms In the human body, the oxygen is absorbed with the aid of the blood flow is the lungs, being then transported to the cells the place an elaborated alternate technique takes place. An oxygen concentrator is a kind of scientific machine used for delivering oxygen to men and women with breathing-related disorders. Individuals whose oxygen awareness in their blood is decrease than normal frequently require an oxygen concentrator to fill up the oxygen. Oxygen concentrators filter surrounding air, compressing it to the required density and then gives purified clinical grade oxygen into a pulse-dose shipping gadget or non-stop circulate machine to the patient. Additionally, it has special filters and sieve beds that assist remove nitrogen from the air so that only 100% pure oxygen is delivered to the patient. The market for portable oxygen concentrators is expected to expand due to the increase in daily exposure to ambient air pollution. Along with this, expanding urbanisation and an increase in disposable income are the driving forces behind the market growth for portable oxygen concentrators. Additionally, rising healthcare infrastructure spending and human lifestyle changes are significant key factors that will further fuel the boom in the household oxygen concentrators market.
|High Growth Market||APAC|
|Unit||Value (USD M)|
|Key Companies Profiled||Linde plc (UK), Inogen, Inc.(US), Precision Medical, Inc. (US), Koninklijke Philips N.V. (Netherlands), Zhejiang Longfei Medical Instrument Co., Ltd (China), Invacare Corporation (US), TEIJIN LIMITED (Japan), DeVilbiss Healthcare LLC (US), CAIRE Inc. (US)|
- The report includes a thorough analysis divided into the study’s primary geographic regions, applications, and important business sectors, such as type (Portable Oxygen Concentrator Stationary Oxygen Concentrator), application (Acute Disease Patients Chronic Disease Patients Pregnant Women Other), and type (Acute Disease Patients). The United States companies will contribute the most to the global home oxygen concentrator market’s growth over the course of the forecast period, according to a research analyst at HTF MI.
- The market is anticipated to develop at the quickest rate in Asia Pacific, with a CAGR of 8.1% from 2022 to 2028. Due to new methods used by companies in the home oxygen concentrator market, it is anticipated that the rivalry would get even more fierce in the next years. Home Oxygen Concentrator research study offers an extensive analysis to help clients increase their revenue shares in the sector. In order to maximise the benefits of growth opportunities, this Home Oxygen Concentrator market report also suggests strategies that competitors can use and highlights crucial areas they should concentrate on.
Home Oxygen Concentrator Market Key Business Segments:
- Acute Disease Patients
- Chronic Disease Patients
- Pregnant Women
- Portable Oxygen Concentrator
- Stationary Oxygen Concentrator
Leading Players are covered:
- Precision Medical
- Koninklijke Philips N.V.
- Zhejiang Longfei Medical Instrument Co., Ltd
- Invacare Corporation
- TEIJIN LIMITED
- DeVilbiss Healthcare LLC
- Portable oxygen concentrators are used to administer oxygen treatment to patients. The oxygen supplied by mobile oxygen concentrators is more concentrated than the surrounding air. Portable oxygen concentrators have been in use for decades all over the world. Early versions of portable oxygen concentrators were seen as being unreliable and challenging to operate since they were big and pricey.
- Portable oxygen concentrators have evolved over time as manufacturers have improved their design and manufactured them in a smaller size and with greater mobility. Patients may now transfer portable oxygen concentrators more readily because the current generation has become more mobile and can fit in a car.
Market Growth Drivers:
- OPD affects around 16 million people, but an oxygen concentrator can assist. People with COPD have chronic lung illness, which makes it challenging for them to properly absorb oxygen. As a result, patients may have respiratory issues, which oxygen treatment administered through a concentrator can resolve. All around the world, people are living longer. Nowadays, the majority of individuals may anticipate living well into their sixties and beyond.
- Global trends that are being seen in every country include population growth and a rise in the elderly. By 2030, one in six persons on the planet will be 60 or older. By 2050, there will be 1.4 billion persons in the world who are 60 years of age or older, up from 1 billion in 2020. By 2050, there will be 2.1 billion individuals worldwide who are 60 years of age or older, a doubling of the current population. Between 2020 and 2050, the number of people 80 or older is predicted to treble, reaching 426 M.
- The development of the worldwide market for medical oxygen concentrators is predicted to be constrained by the high capital cost of CO2 collecting. The demand for oxygen is extremely high, and enormous amounts of the product or system are required. The production process involves a number of costly process cycles, including one for CO2 collection. The market’s growth is also predicted to be constrained by non-portable and single-user equipment’s low level of acceptance. The huge sizes of the oxygen systems are to blame for this.
- Millions of COVID-19 sufferers throughout the world are struggling to breathe in the early stages of the virus. Oxygen beds and ventilators are in short supply due to overcrowding in hospitals and the medical infrastructure. If oxygen administration is put off, a patient’s health could quickly deteriorate, with disastrous results.
- Ideal body oxygen levels should be greater than 95%. Contrarily, COVID-19 causes lung fibrosis and prevents patients from breathing. Breathing issues such as shortness of breath, chest discomfort, and others are common symptoms. In these circumstances, patients need oxygen therapy as soon as possible because their levels may start to drop. These folks need help to make up for their weakened respiratory systems.
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Key highlights of the Global Home Oxygen Concentrator market Study:
- Market CAGR from 2022 to 2028, the projected period
- Detailed information on the key drivers accelerating the home oxygen concentrator industry during the coming few years.
- Detailed insights on evolving consumer trends and the home oxygen concentrator market
- A wide perspective of client demand in Home Oxygen Concentrator Industry
- Uncover market’s competitive landscape and in-depth information on key competitors
- Comprehensive knowledge regarding things that will hinder the growth of Home Oxygen Concentrator players
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