Medical Oxygen Concentrators & Oxygen Cylinders Market Size Worth $4.62 Billion By 2028 | CAGR: 3.1%
The global medical oxygen concentrators & oxygen cylinders market size is expected to reach USD 4.62 billion by 2028 according to a new study by Polaris Market Research. The report “Medical Oxygen Concentrators & Oxygen Cylinders Market Share, Size, Trends, Industry Analysis Report, By Product (Portable Concentrator, Stationary Concentrator, Cylinders); By Technology (Continuous Flow, Pulse Flow); By End-users (Homecare, Non-homecare); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Medical concentrators and cylinders are medical oxygen systems that are used to treat respiratory ailments and are commonly preferred by older patients who have limited mobility and rely on a consistent market supply. A few common chronic health conditions, such as chronic obstructive pulmonary disease (COPD), emphysema, and chronic bronchitis, necessitate oxygen therapy or supplementary oxygen.
The emergence of the COVID-19 pandemic has given significantly boosted market growth for medical concentrators and cylinders. By April 2021, nearly 150 million Covid-19 cases had been diagnosed around the world, with no indication of the pandemic slowing down in many areas. India is facing a huge supply crisis as a result of the flaming COVID-19 pandemic, and in April 2021, the central government has agreed to import concentrators and cylinders from the United States and has placed an order for ten thousand concentrators, which is expected to start import within a week.
The need for these concentrators and cylinders has also increased in the market in recent years due to the increased prevalence of chronic obstructive pulmonary disease (COPD), and other respiratory illnesses. According to American Lung Association, in 2018, over 16.4 million (6.6% adults), US adults were diagnosed with any type of COPD, around 9 million with chronic bronchitis, and 2.0 million with emphysema.
The increasing market demand for medical concentrators and cylinders has resulted in the introduction and approval of new products in the market. For instance, In April 2021, Belluscura received US FDA approval for its X-PLO₂R portable concentrators. It is a lightweight system that is specifically designed to treat COPD and other respiratory disorders.
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Exalta, based in New Delhi, India, has introduced a portable mini ventilator with an integrated concentrator, in April 2021, to help market consumers deal with decreasing O2 levels due to coronavirus outbreaks. The mini ventilators are water based pure O2 concentrators that delivers 1 to 8 liters of oxygen per minute.
Koninklijke Philips N.V. (Philips Respironics), CAIRE INC., Drive DeVilbiss Healthcare Inc., Invacare Corporation, Inogen Inc., Nidek Medical Products, Inc., O2 Concepts, LLC, OxyGo, LLC, Precision Medical, Inc., ResMed, Linde plc, GCE Group (GCE Healthcare) and Cramer Decker Medical, Inc., are some of the key market players operating in the global market for medical O2 concentrators and O2 cylinders.
Polaris Market Research has segmented the medical oxygen concentrators & oxygen cylinders market report on the basis of product, technology, end-users, and region:
Medical Oxygen Concentrators & Oxygen Cylinders, Product Outlook (Revenue – USD Million, 2016 – 2028)
Portable Concentrator
Stationary Concentrator
Cylinders
Medical Oxygen Concentrators & Oxygen Cylinders, Technology Outlook (Revenue – USD Million, 2016 – 2028)
Continuous Flow
Pulse Flow
Medical Oxygen Concentrators & Oxygen Cylinders, End-users Outlook (Revenue – USD Million, 2016 – 2028)
Homecare
Non-homecare
Medical Oxygen Concentrators & Oxygen Cylinders, Regional Outlook (Revenue – USD Million, 2016 – 2028)
North America
U.S.
Canada
Europe
Germany
UK
Italy
France
Spain
Netherlands
Austria
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
Israel
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