The escalating demand for medical oxygen concentrators on the back of the growing threat of the novel coronavirus pandemic may help the medical oxygen concentrators market to gain growth across the forecast period of 2019-2029. The COVID-19 outbreak has cast its ugly shadow on the globe. It has brought increased transmission rates and heightened fatality rates.
Serious or critically infected COVID-19 patients need ventilator and oxygen support. Therefore, with the rise in the number of serious patients, the demand for oxygen concentrators is increasing rapidly. Therefore, this aspect may bring growth opportunities for the medical oxygen concentrators market.
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Government Support Proving Beneficial for Growth of Medical Oxygen Concentrators Market
The growing danger of COVID-19 has led many countries to strengthen their healthcare infrastructure. The governments of various countries are now focusing on improving the healthcare infrastructure by releasing emergency health packages. The Indian Government recently released INR 890.32 cr as the second installment of the COVID-19 Emergency Response and Health System Preparedness Package to numerous states and Union Territories. This aid will help in strengthening the procurement of oxygen concentrators and other healthcare facilities.
Demand for oxygen concentrators from the World Health Organization (WHO) and other Non-Profit Organizations for providing help to under developing countries may also bring expansive growth opportunities for the medical oxygen concentrators market. For instance, the WHO and the UK’s Department for International Development (DFID) offered more than 155 medical oxygen concentrators to South Sudan to help the country for tackling COVID-19.
Asia Pacific to Serve as Prominent Regional Contributor
The growing prevalence of COVID-19 in densely populated countries like India may bring phenomenal growth opportunities for the medical oxygen concentrators market. In addition, the rising geriatric population may also prove as an enormous growth generating factor for the medical oxygen concentrators market during the forecast period of 2019-2029.
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