Major players in the oxygen concentrators market are Koninklijke Philips N. V, Invacare Corporation, DeVilbiss Healthcare LLC, Nidek Medical, Inogen, O2 Concepts, Teijin Limited, Supera Anesthesia Innovations, GCE Group, and CAIRE Inc.
New York, May 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oxygen Concentrators Global Market Report 2022" - https://www.reportlinker.com/p06280892/?utm_source=GNW
The global oxygen concentrators market is expected to grow from $2.55 billion in 2021 to $2.80 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The market is expected to grow to $3.53 billion in 2026 at a compound annual growth rate (CAGR) of 5.9%.
The oxygen concentrators market consists of sales of oxygen concentrators’ devices by entities (organizations, sole traders, and partnerships) which refers to medical devices used for supplying oxygen to patients suffering from respiratory diseases.The oxygen concentrator separates nitrogen and oxygen from the air in the environment and provides pure oxygen to the patient.
There is no need for constant refilling for an oxygen concentrator as it draws oxygen from the surrounding air.
The main types of oxygen concentrators are portable and stationary.Portable oxygen concentrators are smaller, more mobile, affordable, and can be easily moved from one place to another.
The different technologies include pulse dose, continuous flow, and others. These oxygen concentrators are used for supplying oxygen for patients suffering from chronic obstructive pulmonary disease (COPD), lung cancer, pneumonia, other respiratory system diseases and are used by hospitals, home care, others.
The increase in the prevalence of respiratory disorders across the globe contributes to the growth of the oxygen concentrators market.Globally, asthma and chronic obstructive pulmonary disease (COPD) are the most common chronic respiratory diseases.
According to the Forum of International Respiratory Societies (FIRS), 384 million people suffer from COPD and 3 million people die every year. According to the Centers for Disease Control and Prevention’s National Health Interview Survey, in 2019, in the USA, 4.6% of adults had suffered from COPD, emphysema, or chronic bronchitis. Respiratory disorders need the additional flow of oxygen. The oxygen concentrator provides the required oxygen by producing it from the environment. Therefore, the increase in the prevalence of respiratory disorders is driving the growth of the oxygen concentrators market.
Companies in the oxygen concentrators market are increasingly investing in technologies such as artificial intelligence and low-cost portable devices to improve the functionality of these oxygen concentrators.There has been a growing demand for portable, low-cost concentrators owing to the pandemic.
For instance, in March 2021, a team of researchers at MIT’s Electrochemical Energy Lab (EEL) launched a low-cost portable concentrator that can be adopted in places with limited infrastructure and high demand. The companies such as Servotech Power Systems, an India-based manufacturer of LED lights and solar products are manufacturing noiseless, lightweight, and portable oxygen concentrator equipment that provides a constant flow of oxygen and can be easily adjusted to meet the needs of the patient.
In May 2021, OxyGo LLC, a manufacturer of portable oxygen concentrators acquired LIFE Corporation for an undisclosed amount.Through this acquisition, OxyGo can offer services to compressed gas users, and the company can also expand its oxygen expertise by providing better products and services using LIFE corporation expertise.
Life Corporation is an India-based company that manufactures portable emergency oxygen and CPR administration equipment.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the oxygen concentrators market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
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