Oxygen Concentrators Market Segmentation, Business Model, End User, and Region Analysis 2030

Oxygen concentrators market was valued at $3.30 billion in 2020, and is estimated to reach $6.06 billion by 2030, growing at a CAGR of 5.90% from 2021 to 2030.

PORTLAND, OREGON, UNITED STATES, March 23, 2022 /EINPresswire.com/ -- Daily exposure to environmental pollution, increase in population susceptible to indoor air pollutants, and rise in number of active smokers across the world drive the growth of the global oxygen concentrators market. On the other hand, stringent regulatory procedures and high costs of oxygen concentrators restrain the growth to some extent. However, high growth potential in emerging markets and upsurge in geriatric population are expected to create lucrative opportunities in the industry.

According to the report published by Allied Market Research, the global oxygen concentrators market was valued at $3,300.00 million in 2020, and is estimated to reach $6,063.90 million by 2030, growing at a CAGR of 5.90% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “The growth of the global oxygen concentrators market is attributed to increase in incidence of chronic diseases such as cancer, respiratory diseases, cardiovascular diseases, and others, that bolsters the market of oxygen cylinders. Moreover, the COVID-19 outbreak is the major factor driving the growth of the global oxygen concentrators market.”

COVID-19 scenario-

Oxygen gas treatment has now been thoroughly executed on patients for the therapy of chronic health issues to improve energy levels and sustain superior quality life of the patients.

Also, special attention is drawn to both the import and local manufacturing of medical oxygen gas to ensure its uninterrupted supply to designated COVID-19 hospitals identified by the local administration. These factors have impacted the global oxygen concentrators market positively.

The global oxygen concentrators market is analyzed across technology, product, end user, and region.

Population living in poor quality neighborhoods and homes, which lack adequate provision for sanitation, water, garbage removal, and drainage, are specifically susceptible to respiratory disorders such as COPD and asthma. Use of kerosene lights and portable stoves for heating and cooking result in inhalation of particulates. This can cause prolong respiratory diseases such as COPD and asthma among population of underdeveloped regions such as Asia- Pacific and LAMEA. Further, women and children are specifically prone to COPD and asthma as they deal with many indoor tasks. Hence, such factors felicitate demand for home care or portable oxygen concentrators and further boost the market growth.

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Based on product, the portable segment contributed to more than three-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 6.20% during the forecast period.

The key market players analyzed in the global oxygen concentrators market report include Invacare Corporation, DeVilbiss Healthcare LLC, Inogen, Inc., Koninklijke Philips N.V., Chart Industries, Inc. (AirSep), Supera Anesthesia Innovations, GCE Group, Nidek Medical, O2 Concepts, Teijin Limited. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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