Factors characterizing the market growth are the surging worldwide number of patients requiring long-term oxygen therapy, rising prevalence of the chronic obstructive pulmonary disease, sleep apnea, and asthma, growing demand for portable oxygen concentrators, and the presence of favorable government initiatives.

On the contrary, oxygen concentrators may fail to produce therapeutic levels of oxygen due to common problems involving the air-intake system, contaminated sieve materials, and malfunctioning sieve-control valves. Patients may suffer irritation from nasal cannula as water vapor in room air can compromise the adsorption of nitrogen in the sieve beds by entering through small leaks in the internal tubing.

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Competitive Analysis:

Currently, the global medical oxygen concentrators market is led by various prominent companies. The major market players are adopting several growth strategies including new product launches, strategic partnerships & collaborations, operational & geographical expansions, joint ventures (JVs), divestitures, and mergers & acquisitions (M&As) to gain competitive advantage. For instance, in April 2019, Inogen, Inc. launched One G5 portable oxygen concentrator in the US. The Inogen One G5 is superior to other portable oxygen concentrators presently available in the US homecare market, which is designed for use within the homecare setting.

Segmental Overview

The global medical oxygen concentrators market has been segmented into product, technology, indication, end user, and region.

By product, the market has been segmented into portable oxygen concentrators and stationary oxygen concentrators.

On the basis of technology, the market has been divided into the continuous flow and pulse dose.

Based on indication, the market has been categorized into chronic obstructive pulmonary disease, asthma, sleep apnea, and others.

By end user, the market has been classified into homecare, travel, hospitals and clinics, and others. Home oxygen concentrators facilitate convenience and make it easier and safer for the patient to complete their day-to-day activities, which is supporting the dominance of the homecare segment during the next six years.

Regional Outlook

The Global Medical Oxygen Concentrators Market has been categorized on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Based on region, the Americas is expected to dominate the market over the forecast period due to the presence of favorable government initiatives, reimbursement policies, and major market participants developed home healthcare care services and higher adoption of portable oxygen concentrators for homecare needs. Higher value contributors based in the US are Philips Healthcare, Invacare Corporation, AirSep Corporation, ResMed, and Precision Medical, Inc. In addition, government initiatives including the presence of the Federal Aviation Administration (FAA), which authorize the use of portable concentrators during air travel are promoting the dominance of the Americas.

Europe would follow the Americas in terms of revenue over the forecast period as the German government has been undertaking several initiatives to reduce pollution levels in the country and promote public health. In November 2018, the German government unveiled a 5-point plan to reduce plastic waste.

The market in Asia-Pacific would showcase comparatively higher CAGR during the forecast period. This is owing to rising prevalence of COPD and asthma, increasing spending on healthcare, growing awareness about state-of-the-art technologies in an oxygen concentrator, rising adoption of portable units, growth in disposable income, and changing diet pattern and lifestyle resulting in the development of diseases. As per data published in The Lancet journal, in 2016, the prevalence of COPD in India was 4·2% and the prevalence of asthma 2·9%. India has a higher prevalence of COPD than the global average, as well as more disability-adjusted life-years (DALYs) per person with COPD or asthma than the global average.

The Middle East & Africa has the least share of the global medical oxygen concentrators market. In addition, the major market share of the region would be held by the Middle Eastern region due to developing healthcare system and medical infrastructure in the Arab countries.

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