iData Research (“iData”), a global consulting and market research firm, has released exclusive research on the global oxygen concentrator market. Although most medical device markets have experienced declines, the COVID-19 outbreak has positively affected the oxygen concentrator market. The global market is experiencing growth over the forecast period which iData forecasts is due to increased popularity, rising prevalence rates of respiratory conditions, and growing environmental respiratory health risks.
According to iData’s Global Market Report on Oxygen Concentrators, the global market was estimated at just over $1.2 billion in 2020. Furthermore, the market has continued to increase moving into 2021 and is expected to reach almost $1.6 billion by 2027. This report includes unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more.
The overall oxygen concentrator market includes the stationary oxygen concentrator market along with the portable oxygen concentrator market. Unit growth within this market is driven by the rising popularity of portable concentrators, which are now more technologically advanced and offer patients a more mobile lifestyle. Overall, the growing popularity of the more expensive portable options over the standard stationery options will cause the total oxygen concentrator market value to increase significantly over the forecast period.
“Smaller-sized products now have capabilities that were previously only achievable by larger, stationary machines”, says Dr. Kamran Zamanian, Senior Partner and CEO of iData Research, “This has generated a strong preference for portable concentrators.”
Among the many competitors within these markets, Philips Healthcare, Inogen, and CAIRE are the global leaders followed by Invacare and Drive DeVilbiss. Air Liquide, GCE Group, and Graham Field are trailing the leaders by a substantial margin, pushing for a larger share of the global market. There is a multitude of other competitors analyzed within this report which have one or more products offered in this space.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
Follow the link below to download a Free Research Summary of the Global Market Report for Oxygen Concentrators:
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