Medical Oxygen Concentrators Market burst to overtake $2.4 bn By 2024

Sellbyville, DE -- (SBWire) -- 11/22/2018 --Global Medical Oxygen Concentrators Market to exceed USD 2.4 billion by 2024; according to a new research report by Global Market Insights. Portable oxygen concentrators accounted for over 50% of industry revenue share in 2017 owing to several advancements that include compact size, increased efficiency, battery life and affordable price. Moreover, rising demand for portable oxygen concentrators and technological advances are anticipated to fuel business growth.

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High exposure to dust particles, increasing pollution along with growing number of cigarette smokers are aspects boosting industry growth. However, stringent regulatory scenario hinders medical oxygen concentrators market growth. Regulatory bodies such as the US FDA, the European Medicines Agency, Japanese Pharmaceuticals and Medical Devices Agency have guidelines on classification of medical oxygen concentrators devices; and guidelines on GMP manufacturers of oxygen concentrators and multiple accredited suppliers.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Chart Industries, Inc.
2. Invacare Corporation
3. DeVilbiss Healthcare
4. Inogen
5. Inova Labs
6. Nidek Medical Products, Inc.
7. O2 Concepts

Pulse flow segment will witness over 9.5% growth due to advances in technology coupled with adoption of R&D activities by companies to implement advanced technology in products. Additionally, associated advantages provided by pulse flow such as, automatic adjusting settings, and compact size of the pulse dose oxygen concentrators by lighter weight technology are aspects boosting business growth.

U.S. dominated the global medical oxygen concentrators market with 88.1% market share in 2017. Such high market share and growth is attributable to factors such as, escalating prevalence of COPD coupled with changing lifestyle habits. Furthermore, growing elderly population and associated chronic conditions that require oxygen concentrators and rising pollution are aspects projected to boost market growth over the coming years.

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Medical Oxygen Concentrators Market by Product
o Portable
o Fixed
Medical Oxygen Concentrators Market by Application
o Home care
o Non-Home care
Medical Oxygen Concentrators Market by Technology
o Pulse flow
o Continuous flow