Rapid growth of geriatric population and high healthcare expenditure is expected to drive United States oxygen concentrators market for the forecast period.
Increasing prevalence of COPD, respiratory distress syndrome, asthma and respiratory diseases are contributing significantly to the growth of the oxygen concentrators market. Growth in home care oxygen concentrators due to rising preference and high healthcare expenditure in home healthcare devices is accelerating the oxygen concentrators market growth. Large old age population is suffering from cardiopulmonary diseases is further fueling the demand for oxygen concentrators in residential spaces. Occurrence of critical conditions due to prevalence of respiratory disease disorders require continuous flow of oxygen. During emergency situations need for continuous oxygen supply is fostering the growth of the oxygen concentrators market.
The recent COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing which created lucrative opportunities for the growth of the oxygen concentrators market. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected on a daily basis and getting admitted into the hospital facilities. The demand for oxygen concentrators is on peak during this time due to increasing need for oxygen concentrators as oxygen is dropping down to lower levels in patients suffering from coronavirus. Oxygen concentrators market in United States is expected to witness significant growth for this period for the treatment of coronavirus.
However, manufacturing and marketing standards of oxygen concentrators may create hindrance in the growth of the oxygen concentrators market.
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United States oxygen concentrators market is segmented into type, technology, flowrate, source, application, end users, regional distribution, and company. Based on type, oxygen concentrators market is bifurcated into portable and stationary. The portable oxygen concentrator segment is expected to account for major market share for the forecast period, 2022-2026. Benefits such as ease of use, move according to patient’s convenience and lower weight than the stationery oxygen concentrators. Based on application, market is divided into COPD, pneumonia, COVID-19, hypoxemia, and others. The COVID-19 segment is expected to register fastest incremental growth due to high prevalence of coronavirus across United States. Rise in number of people getting affected results in lower oxygen level in body which requires the support of supplement oxygen thereby driving the growth of the oxygen concentrator market.
COPD segment is expected to largest market share for the forecast period due to changing lifestyle and rise in smokers in United States. Also, the presence of large old age population along with favourable healthcare policies is fostering the growth of the oxygen concentrators market. Based on technology, market is fragmented into pulse flow, continuous flow, and continuous/pulse. The continuous flow segment is expected to dominate the oxygen concentrators market for the next five years. Old age and bedridden patients require continuous flow of oxygen. These are affordable over its other counterparts and rapid technological development is driving the oxygen concentrators market growth.
Philips Healthcare (USA), Invacare Corporation, Inogen, Inc., NGK Spark Plugs (U.S.A.), Inc., Nidek Medical Products, Inc., Supera Anesthesia Innovations, O2 Concepts, LLC, DeVilbiss Healthcare LLC are the leading players operating in United States oxygen concentrators market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several oxygen concentrators manufacturers are coming up with their technologically advanced offerings.
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“High-end investments by oxygen concentrator manufacturers to provide long battery life to oxygen concentrators, miniaturization of cylinders, and integration of membrane technology is expected to fuel the growth of oxygen concentrators market. Shift of preference from traditional oxygen concentrators to portable concentrators along with launch of new oxygen cylinders with enhanced portability is expected to propel the United States oxygen concentrator market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Oxygen Concentrators Market By Type (Portable v/s Stationary) By Technology (Pulse Flow, Continuous Flow, Continuous/Pulse) By Flow-rate (0-5l/min, 5-10l/min, Above 10l/min) By Source (Import v/s Domestic) By Application (COPD, Pneumonia, COVID-19, Hypoxemia, Others) By End Users (Hospitals & Clinics, Ambulatory Care Centers, Home Care) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of United States oxygen concentrators market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States oxygen concentrators market.
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