What is the Market for Medical Oxygen Concentrators?

What is the market for medical oxygen concentrators

What is the Market for Medical Oxygen Concentrators?

The global oxygen concentrators market is primarily driven by the rising prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and pulmonary fibrosis, which are more common among the geriatric population. Other key drivers include increasing daily exposure to environmental contamination, and rising number of people who are both susceptible to indoor air pollution and active smokers.

During the COVID-19 pandemic, many hospitals experienced a shortage of ventilators to treat patients with severe respiratory disorders. To mitigate the crisis, biomedical engineers and scientists developed makeshift devices that can perform the basic functions of ventilators, including delivering oxygen to the bloodstream. These repurposed devices can help in the survival of patients with breathing problems, and are expected to significantly boost demand for medical oxygen systems in the coming quarters. Find out What is the market for medical oxygen concentrators? – mainclinicsupply.com

With rapid growth in the geriatric population and an increasing incidence of respiratory diseases, North America held a dominant position in the global portable oxygen concentrators market in 2020. Technological advancements, such as the development of lightweight and portable oxygen concentrators, have helped in boosting demand for these systems. Furthermore, the U.S. FDA has allowed the use of medical oxygen concentrators as ventilators, which further bolsters the market.

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The market for medical oxygen concentrators is characterized by the presence of a large number of established players and new entrants. Prominent companies operating in this industry include DeVilbiss Healthcare GmbH, Invacare corporation, NGK Spark Plug Co. Ltd, Inogen Inc, KONO & MARK DEN, Koninklijke Philips N.V, and O2 Concepts Yuwell Limited. The aforementioned manufacturers are focusing on enhancing their presence in the global oxygen concentrators market through strategic partnerships, mergers & acquisitions, and innovative product launches.

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