Medical Oxygen Concentrators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2023
Albany, NY -- (SBWIRE) -- 04/20/2016 -- Transparency Market Research has compiled a large amount data relevant to the use of oxygen concentrators in medicine, within a pool of information organized under the tag of medical devices industries. The report is titled "Medical Oxygen Concentrators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023" and provides an accurate and segmented analysis of this market for the given forecast period.
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An oxygen concentrator is also known as an oxygen generator and is used to deliver oxygen to patients under medical care and in need of pure oxygen. The main reason for the use of an oxygen concentrator is the less than average level of oxygen in a sick patient. Most countries do not allow oxygen concentrators to be sold over the counter. A patient must produce a prescription for them.
The key difference between an oxygen concentrator and an oxygen tank is what gives the former its biggest advantage. Oxygen tanks have limited storage, which once depleted, need to be replaced. On the other hand, oxygen concentrators do not supply the gas from a tank but deliver a compressed flow of it, which is filtered out from the surrounding air. Therefore, an oxygen concentrator can provide a patient with oxygen at any given time under any condition as long as the device is provided with power.
Some of the key drivers of the global oxygen concentrators market are the growing percentage of the geriatric demographic, who are in a higher need of oxygen delivery devices, and the growing prevalence of respiratory diseases and COPD. Oxygen concentrators are also safer, lighter, and cheaper in comparison to compressed oxygen cylinders.
According to the World Health Organization, almost 3 million people died in 2005 due to COPD. Recently, more than 65 million people around the world were suffering from COPD in mild to severe and chronic forms. This is a major reason for medical device manufacturers to focus harder on research and development efforts in making oxygen concentrators more efficient.
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From a geographical perspective, the global oxygen concentrators market has been led by North America in terms of demand and usage. This region has an advanced medical care system already enabled, making it easier for key players based in this region to provide state-of-the-art devices and drugs. This region is also showing a rapidly growing trend of home care, which can be complemented by the use of oxygen cylinders and concentrators due to their portability.
Key players in the global oxygen concentrators market include Philips Healthcare, Teleflex Incorporated, Inogen, Inc., Nidek Medical, DeVilbiss Healthcare, and GE Healthcare.
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