Market Study Report adds global medical oxygen concentrators market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.
Medical oxygen concentrators market research report for the period of 2018-2024 that shows the growth of the market is rising at a 8.9% CAGR to 2024.
Surging number of cigarette smokers coupled with increasing elderly population base prone to chronic obstructive pulmonary disease (COPD) and supportive initiatives by private institutions and government are factors driving medical oxygen concentrators market growth. Escalating incidence of COPD and technological advancements that aid to provide enhanced oxygen concentrators further propels industry growth.
Emphasizing on enhancing patient’s quality of life coupled with increasing healthcare expenditure and rising levels of air pollution are factors rendering positive impact on medical oxygen concentrators market. Air pollution and high exposure to dust particles increases the risk of acquiring COPD; such factors are anticipated to boost business growth over the forecast timeline.
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Presence of favorable reimbursement policy structure providing coverage for oxygen concentrators and funding for R&D activities focusing on oxygen concentrators are factors paving growth path for medical oxygen concentrators. Stringent regulatory scenario and associated guidelines is projected to impede industry growth.
Non-home care segment will witness considerable market growth in coming years owing to increasing demand by elderly care centers, nursing homes and hospitals. Home care segment held largest revenue share in 2017, on an account of rising patient preference for home care services & associated benefits offered such as, prevents hospital acquired infections and cost-effective solution. Home healthcare services are tailored to patient?s personal needs and aforementioned benefits offered by home care are factors driving patient preference for home care.
Continuous flow segment held over 52% of industry revenue share in 2017, owing to its greater usage in emergency situations coupled with increasing demand and advances in continuous flow oxygen concentrators.
U.S. medical oxygen concentrators size was USD 464 million in 2017 and is anticipated to exhibit similar trend in forthcoming years due to increasing elderly population susceptible to chronic conditions such as, asthma and COPD coupled with favorable reimbursement policy structure. Moreover, increasing pollution and changing lifestyle habits such as cigarette smoking is further anticipated to contribute in growing prevalence of respiratory diseases thus propelling industry growth.
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Growing prevalence of COPD along with changing lifestyle that include surging adoption of unhealthy food intake are factors driving Germany’s oxygen concentrators market growth. increasing number of tobacco smokers? that upsurges risk of respiratory diseases fuels demand for oxygen concentrators in Germany.
Japan held more than 40% of regional market share in 2017 owing to rising prevalence of chronic diseases and growing elderly population. Furthermore, presence of robust healthcare insurance system as well as developed healthcare infrastructure are aspects boosting business growth in Japan.
Medical oxygen concentrators market key players include Chart Industries (AirSep), DeVilbiss Healthcare GmbH (Drive DeVilbiss International), Inogen, Inova Labs (ResMed), Invacare, Koninklijke Philips N.V. Philips Healthcare, NIDEK Medical Products, O2 Concepts, Teijin Limited and Yuwell.
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