How is COVID-19 Bringing Good Growth for Global Medical Oxygen Concentrators Market?

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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Medical Oxygen Concentrators Market Driven by Increasing Cases of Respiratory Disorders

The global market for medical oxygen concentrators is mainly fuelled by the growing prevalence of COPD globally. The swift rise in the patient pool ailing from other lung diseases such as smoking-related lung conditions, asthma, and lung cancer is leading to an increasing demand for oxygen supply units. Oxygen supply units such as medical oxygen concentrators display widespread demand due to advantages of portability and uninterrupted oxygen supply. In addition, favorable government policies area also boosting the uptake of medical oxygen concentrators.

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On the other hand, however, a large number of oxygen concentrators that have continuous flow technology mechanism account for huge wastage of energy and oxygen even when not in use. Furthermore, the high cost of portable oxygen concentrators is limiting their adoption in emerging economies.

ased on modality, the report segments the global medical oxygen concentrators market into stationary and portable oxygen concentrators. In 2015, the segment of portable oxygen concentrators provided for the maximum demand as they are small in size as well as lightweight and, hence easy in handling and can function over rechargeable lithium batteries. Technology-wise, the market has been bifurcated into continuous flow technology and pulse flow technology. On the basis of end users, the market has been categorized into home care, hospitals, and ambulatory surgical centers (ASCs).

Geographically, the analysts of the report rate North America as most profitable region, with the developed country of the U.S. the one to concentrate on. The prosperity of the North America medical oxygen concentrators market is a reflection of increased homely usage of portable oxygen concentrators. While Europe currently constitutes for the second maximum demand, Latin America and Asia Pacific collectively provided for a demand share of 31.4% in 2015 and must gain focus of the vendors operating in this market.

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Medical Oxygen Concentrators Market Driven by Increasing Cases of Respiratory Disorders

The global market for medical oxygen concentrators is mainly fuelled by the growing prevalence of COPD globally. The swift rise in the patient pool ailing from other lung diseases such as smoking-related lung conditions, asthma, and lung cancer is leading to an increasing demand for oxygen supply units. Oxygen supply units such as medical oxygen concentrators display widespread demand due to advantages of portability and uninterrupted oxygen supply. In addition, favorable government policies area also boosting the uptake of medical oxygen concentrators.

Get Report Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3998

On the other hand, however, a large number of oxygen concentrators that have continuous flow technology mechanism account for huge wastage of energy and oxygen even when not in use. Furthermore, the high cost of portable oxygen concentrators is limiting their adoption in emerging economies.

the key players are expected to introduce new technologies and stay ahead of the curve.

As per the evaluations provided in the TMR report, the opportunities in the global medical oxygen concentrators translated into a revenue of US$1.25 bn in 2016, and has projected it to swell up to US$2.41 bn by the end of 2024, with the demand expanding at an impressive CAGR of 8.5% during the forecast period of 2016 to 2024. Throughout the course of the forecast period, the prominent players will ripe the benefits of their brand image and invest on research and development activities to counter the upcoming threats coming from substitutes such as liquid and gaseous oxygen cylinders and oxygen therapy devices.

Based on modality, the report segments the global medical oxygen concentrators market into stationary and portable oxygen concentrators. In 2015, the segment of portable oxygen concentrators provided for the maximum demand as they are small in size as well as lightweight and, hence easy in handling and can function over rechargeable lithium batteries. Technology-wise, the market has been bifurcated into continuous flow technology and pulse flow technology. On the basis of end users, the market has been categorized into home care, hospitals, and ambulatory surgical centers (ASCs).

Geographically, the analysts of the report rate North America as most profitable region, with the developed country of the U.S. the one to concentrate on. The prosperity of the North America medical oxygen concentrators market is a reflection of increased homely usage of portable oxygen concentrators. While Europe currently constitutes for the second maximum demand, Latin America and Asia Pacific collectively provided for a demand share of 31.4% in 2015 and must gain focus of the vendors operating in this market.

View Report @ https://www.transparencymarketresearch.com/medical-oxygen-concentrators-market.html

Medical Oxygen Concentrators Market Driven by Increasing Cases of Respiratory Disorders

The global market for medical oxygen concentrators is mainly fuelled by the growing prevalence of COPD globally. The swift rise in the patient pool ailing from other lung diseases such as smoking-related lung conditions, asthma, and lung cancer is leading to an increasing demand for oxygen supply units. Oxygen supply units such as medical oxygen concentrators display widespread demand due to advantages of portability and uninterrupted oxygen supply. In addition, favorable government policies area also boosting the uptake of medical oxygen concentrators.

Get Report Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3998

On the other hand, however, a large number of oxygen concentrators that have continuous flow technology mechanism account for huge wastage of energy and oxygen even when not in use. Furthermore, the high cost of portable oxygen concentrators is limiting their adoption in emerging economies.

The global market for medical oxygen concentrators is predicted to be valued at US$2.41 bn by 2024, expanding at a CAGR of 8.5% between 2016 and 2024. The market was valued at US$1.25 bn in 2016.

Proficiency to Work under All Conditions Driving Demand

The ability of these devices to provide oxygen under indifferent environment is the primary driver of the global medical oxygen concentrators market. The percentage of geriatrics is escalating among the global population and increasing number of people suffering from various respiratory diseases including COPD are also augmenting the demand for medical oxygen concentrators market. Portable oxygen concentrators have gained the approval from FAA for the usage on airline and R&D activities are underway to further enhance the devices for them to be used under different conditions. The report also highlights growing cases of lung diseases among the urban population, government initiatives to improve healthcare infrastructure and providing subsidies on diagnostic equipment, growing cases of fibrosis and asthma, and radically increasing population in a number of cities are some of the other factors aiding to the demand in the global medical oxygen concentrators market. On the other hand, presence of stringent regulatory framework is obstructing the market from attaining its true potential.

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