Albany, New York, February 24, 2017: The medical oxygen concentrators produce oxygen from the surrounding air to supply an oxygen-enriched gas stream. It works either on rechargeable lithium batteries or by nonstop electric supply. Market Research Hub (MRH) published a report in its large database with comprehensive analysis on Medical oxygen concentrators named as “Global Medical oxygen concentrators Market – Forecast 2016-2024. The market of global Medical oxygen concentrators is estimated to attain US$2.41 billion by the end of 2024. It is estimated to grow with positive CAGR of 8.5% from forecast period 2016 to 2024 and was valued at $1.25 billion in 2016.
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A Medical oxygen concentrator is used for patients suffering from Chronic Obstructive Pulmonary Disease also famous as COPD (a common lung disease) and other respiratory ailments. Sufferers having the low level of oxygen in their blood are suggested to use oxygen concentrators. These devices are used only with medical instruction and cannot be bought over the counter. It works on the principle of compression of air by which the oxygen concentrators are prohibited from overheating. After catching the air from the surroundings, nitrogen is evacuated through the air filters and with adjusted supply rate, purified oxygen is provided to the victims with the help of mask or nasal cannula.
The report also offers projected size of the market in terms of revenue for each category like modality, technology, end user and geography for the forecast period 2014 to 2024, considering the macro and micro environmental aspects.
In terms of modality, it is separated into two models; 1) Portable oxygen concentrators and 2) Stationary oxygen concentrators. Portable oxygen concentrators are light in weight, easy to carry, small in size and work on rechargeable lithium batteries. While, the Stationary oxygen concentrators work on continuous flow technology and consequently need an uninterrupted electricity supply. These types of devices are generally used by victims during the night or at their homes.
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In terms of technology the market
· Pulse flow technology and
· Continuous flow technology.
The global medical oxygen concentrators market: in terms of end users;
· Home care
· Hospitals, and
· Ambulatory surgical centers.
In terms of geography, the global medical oxygen concentrator’s market is segmented into following regions; Europe, Asia-Pacific, North America, Latin America and the Middle East and Africa (MEA).
The report also summarizes the major companies in the global medical oxygen concentrator’s market; Chart Industries, Inc., Inogen, Inc., Koninklijke Philips N.V., Invacare Corp., Resmed Inc., Precision Medical, Inc., Drive DeVilbiss Healthcare LLC., Besco Medical Co. Ltd., GCE Group, O2 Concepts LLC and others.
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