Oxygen concentrator Market is Expected to Grow at a CAGR of 5.65% by 2030

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Oxygen concentrator Market is Expected to Grow at
a CAGR of 5.65 by 2030
According to ChemAnalyst report, Oxygen
Concentrator Market Analysis Plant Capacity,
Production, Operating Efficiency, Demand
Supply, End Use, Distribution Channel, Regional
Demand, 2015-2030, Oxygen Concentrator market
has shown considerable growth in the historic
period and is anticipated to achieve a healthy
CAGR of 5.65 during the forecast period
2022-2030. Increasing population along with the
increasing prevalence of chronic diseases is
likely to increase the demand of Oxygen
concentrators which will further drive the global
Oxygen concentrator market over the next ten
years. Oxygen concentrator is a medical device
that concentrates the oxygen from a gas supply
by selectively removing nitrogen in order to
supply an oxygen-enriched product gas. Methods
that are commonly used in the Oxygen Concentrator
are pressure swing adsorption and membrane gas
separation. An oxygen concentrator starts its
function by filtering and concentrating oxygen
molecules from the ambient air to provide medical
patients with more than 95 pure oxygen. The
compressor of the oxygen concentrator sucks air
from surrounding and adjusts the pressure at
which it is provided. Read Full Report Here
https//www.chemanalyst.com/industry-report/oxygen
- concentrator-market-579 High demand of the
portable Oxygen Concentrators by Chronic
Obstructive Pulmonary Disease (COPD) and
asthmatic patients is the major driver of the
global Oxygen
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Concentrators market and is expected to remain
the same in the future. Chronic conditions and
infections that lead to the lung damage are to
blame for the increased demand of Oxygen
Concentrators. As the population is increasing,
patients of asthma seem to be rising as well.
The portable oxygen concentrators are cost
effective and can be carried easily and hence
are found to be very useful for asthmatic
patients. Unexpected rise in the number of chain
smokers has fuelled the growth of global portable
oxygen concentrators market. Based on different
types, Oxygen Concentrator market is segmented
into Portable Medical Oxygen Concentrators,
Fixed Medical Oxygen Concentrators. Among which,
portable Oxygen Concentrators dominated the
global market in 2020 and is expected to
maintain its dominance until the forecast period.
Increase in the number of air travellers is also
propelling the demand of portable Oxygen
Concentrators. The Oxygen Concentrator market is
categorized on the basis of end-use applications
into Homecare and Hospital Care. The Homecare
segment dominates the global Oxygen Concentrator
market due to the increased demand of homecare
oxygen therapies. Free Request Sample
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m In 2020, due to the outbreak of COVID-19, in
the first half of 2020 there was a major surge
in the demand of oxygen cylinders and
concentrators due to the breathing problems faced
by the coronavirus patients. Restrictions and
nationwide lockdowns caused by the government in
major global economies negatively impacted a
number of industries in which medical gases were
among the worst. Region wise, the Asia Pacific
region dominated the global Oxygen concentrator
market in 2020 as the demand of medical oxygen
increased during the Coronavirus Pandemic.
Moreover, rapid urbanization and per capita
income in major emerging economies like India
and China coupled with growing number of patients
using oxygen concentrators and cylinders are
other factors influencing demand growth in the
Asia Pacific region. According to ChemAnalyst
report, Oxygen Concentrator Market Analysis
Plant Capacity, Production, Operating
Efficiency, Demand Supply, End Use,
Distribution Channel, Regional Demand,
2015-2030, some of the major players operating
in Oxygen concentrator market include Invacare
Corporation, Koninklijke Phillips N.V., Supera
Anesthesia Innovations, Nidek Medical Products,
Inogen, ResMed, GCE Holding AB, Linde plc,
Teijin Ltd., Invacare Corp., ResMed and
Others. With the number of initiatives proposed
by the government to supply more and more oxygen
to the medical patients and those in need is
expected to increase the demand of Oxygen
concentrators across the globe. The demand of
Oxygen during the COVID times
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hiked at a good pace which propelled the demand
of oxygen cylinders and concentrators in 2020
boosting the global Oxygen Concentrator market.
The increasing demand for portable oxygen
concentrators for asthmatic patients and air
travellers is likely to augment the growth of
the global Oxygen concentrator market. said Mr.
Karan Chechi, Research Director with TechSci
Research, a research-based management consulting
firm promoting ChemAnalyst worldwide. About
Us ChemAnalyst is a one stop digital platform
that offers comprehensive market intelligence
data and in-depth analysis of the Indian chemical
and petrochemical industry. ChemAnalysts team
of 100 analysts are engaged in tracking chemical
prices daily, production capacity, demand and
supply outlook, manufacturing plant locations,
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400 major chemicals produced in India.
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