Pune, India, September 28, 2021 (GLOBE NEWSWIRE) – The global market size for Medical Oxygen Concentrators is expected to witness remarkable growth during the forecast period as a large number of young people across the world adopt a mode unhealthy lifestyle choices such as poor diet and lack of physical exercise, leading to extreme stress and sleep deprivation. Here are the main trends that will increase the size of the market:
Stationary medical oxygen concentrators find an important market in Europe:
Stationary medical oxygen concentrators will gain traction among European customers in the coming years because they are quite easy to use. They provide an uninterrupted supply of oxygen to patients as they are not dependent on pressurized oxygen. On top of that, stationary oxygen concentrators are more affordable than portable concentrators.
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The COVID-19 pandemic in Europe favors out-of-home care services:
The ongoing COVID-19 pandemic has had a major impact on several European economies with millions of people testing positive and admitted to hospitals. This is why the regions market size of medical oxygen concentrators of non-home care applications is expected to increase at 2% CAGR through 2027. The pandemic has an important role to play in this regard, as non-home care settings like hospitals and COVID-19 care centers use large amounts of medical oxygen.
A large number of people, especially the elderly, prefer to seek treatment in hospitals due to the availability of advanced medical facilities. Increased spending by regional governments for the development of public health infrastructure will further stimulate demand for out-of-home care solutions.
Use of pulsed flow technology in medical oxygen concentrators:
Pulsed flow technology will be widely implemented in the delivery of medical oxygen concentrators across Europe. People who have been diagnosed with mild respiratory infections use pulsed-flow oxygen concentrators. The market share for medical oxygen concentrators in Europe is expected to be valued at over $ 1 billion by 2027.
This technology adjusts its respiratory rate based on the patient’s breathing level, making it an ideal product choice for customers seeking flexibility in their medical treatments. Pulsed flow technology is undergoing major advancements such as the introduction of autoSAT technology which helps to maintain the volume of oxygen to a large extent.
Asia-Pacific is seeing increased adoption of portable medical oxygen concentrators:
Portable medical oxygen concentrators held nearly 55% of APAC market revenue in 2020. There are many advantages to using this product, such as low weight, portability and ease of use. Several reputable companies in the region are striving to create advanced technologies to increase the battery life and durability of this equipment.
In November 2019, CAIRE launched a portable medical oxygen concentrator called FreeStyle Comfort, which is equipped with autoSAT technology, self-adjusting and exclusive clinical features. The APAC medical oxygen concentrator industry will reach a projected valuation of over $ 1 billion by 2027.
Home care solutions demand a crisis in Asia-Pacific:
Asia-Pacific Medical Oxygen Concentrator Market Share home care solutions is expected to experience a CAGR of -6.2% between 2021 and 2027. Although the region’s growing elderly population is keen on receiving medical services at home, it is likely that they still prefer non-residential treatment. home because she is able to use the services of health professionals.
These experts provide specialized treatment and care, which is not possible in home care services. The factors mentioned will increase the use of medical oxygen generators in hospitals and other health centers in the region.
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Use of stationary medical oxygen concentrators in North America:
Hospitals and clinics across North America will use stationary medical oxygen concentrators on a large scale, as they are readily available at an affordable cost compared to portable concentrators. Home care centers for bedridden patients will increase demand for these concentrators in the region. The United States is home to a vastly advanced medical infrastructure, and access to modern portable equipment is increasing every year throughout the region.
Non-home care treatments are gaining ground in North America:
North America Medical Oxygen Concentrator Market Share is estimated to exceed $ 1.2 billion valuation by 2027. The size of the regional non-home care solutions industry was valued at over $ 350 million in 2020. North America has experienced an alarming increase in the number of patients admitted to hospitals for treatment for coronaviruses.
Regional governments are increasing their investments to make public health infrastructure as advanced and convenient as possible. All of these aspects will stimulate the uptake of non-home care services in North America.
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The Canadian market for medical oxygen concentrators is experiencing a slight decline:
The Canadian industry is expected to register a CAGR of -0.6% through 2027. The country has experienced a sudden surge in demand in 2020 due to the COVID-19 crisis. However, as regional authorities increase their healthcare spending in an effort to provide excellent medical services, other factors such as the increase in chronic diseases and the growth of the geriatric population may support the demand for these concentrators, but at a level below 2020-2021.
Reputable companies producing medical oxygen concentrators around the world like Philips Healthcare, O2 Concepts, Invacare Corporation, ResMed Inc., GCE Group, Teijin Limited, Inova Labs Inc and many more are improving technologies like pulse flow and continuous on portable and fixed concentrators. The equipment is increasingly adopted in home and non-home care applications, with countries like India, Canada, Poland, Greece and Belgium, among others, being major markets in this regard. .
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