Global Oxygen Concentrators Market, by Product Type (Portable and Stationary), by End User (Hospitals, Ambulatory Surgical Centers, and Homecare Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,560.0 million in 2019 and is projected to exhibit a CAGR of 8.1% over the forecast period (2019 - 2027), as highlighted in a new report published by Coherent Market Insights.

The global healthcare sector is undergoing a wave of transformation, with digitization being the core focus area of product manufacturers and service providers. Healthcare IT products and systems are in high demand in emerging economies such as India, China, Brazil, Indonesia, and also Israel, as part of the ongoing upgrade of healthcare infrastructure in these countries. Considering the future dynamics of the healthcare industry, manufacturers of oxygen concentrators are focusing on integrating IT with these devices. This is expected to propel growth of the oxygen concentrators market in these regions. Oxlife Independence by O2 Concepts LLC is connected on cloud network for the manufacturer/service provider to monitor functioning of the device and provide any upgrade to the system software. This technology aids in ensuring optimal performance of battery operated oxygen concentrators. Oxlife Independence is the world’s first smart oxygen concentrator.

New product launches is expected to drive growth of this market. For instance, in 2018, ResMed a healthcare company has launched Mobi, its first ResMed-branded portable oxygen concentrator (POC). This concentrator offers balance of oxygen delivery, weight, and battery life so that millions of patients with chronic obstructive pulmonary disease (COPD) or other respiratory conditions can receive oxygen through this device. This portable concentrator can be used for home care as well.

For instance, in January 2015, Air Water Inc. launched its innovative home medical oxygen concentrator ‘Konatsu 3’ SP. The product is lightweight, and has compact design and large wheels, which helps the device to move smoothly.

Moreover, the oxygen concentrators market growth is driven by increasing favorable reimbursement policies. For instance, in December 2014, Inogen, Inc., a medical technology company offering innovative respiratory products for use in homecare settings, announced that Inogen One G3 portable oxygen concentrator received coverage for insurance reimbursement within Germany.

Browse 38 Market Data Tables and 27 Figures spread through 200 Pages and in-depth TOC on " Global Oxygen Concentrators Market, by Product Type (Portable and Stationary), by End User (Hospitals, Ambulatory Surgical Centers, and Homecare Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"

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Key Takeaways of the Oxygen Concentrators Market:

  • The global oxygen concentrators market is projected to witness CAGR of 8.1% during the forecast period (2019 – 2027), owing to digital transformation to underpin growth of oxygen concentrators market
  • Among regions, Asia Pacific is expected to witness high growth in the global oxygen concentrators market during the forecast period, as oxygen concentrator providers are engaged in expansion of their oxygen filling plants in Asia Pacific region, which is contributing to Asia Pacific oxygen concentrator market growth. For instance, in February 2019, Kitajima Sanso, a distributor of medical gas, built medical oxygen filling plant in Myanmar. The new plant is equipped with two cryogenic gas storage tanks of 20 and 10 tons.
  • Among product type, portable segment is expected to hold dominant position in the global oxygen concentrators market, owing to increasing preference of healthcare providers for compact and lightweight oxygen concentrators
  • Major players operating in the global oxygen concentrators market include Inogen Inc., Devilbiss Healthcare LLC, Nidek Medical, Invacare Corporation, Koninklijke Philips N.V., and Chart Industries, Inc.

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