Medical Oxygen Concentrators Market forecast to hit $2bn by 2023

Page 1

Medical Oxygen Concentrators Market share to witness growth of 10% from 2016 to 2023: Global Market Insights Inc. Medical Oxygen Concentrators Market outlook is positively influenced by advancements in healthcare system along with a strong desire to maintain good health. The medical expenditure is observing a significant upsurge, one of the several reasons being the elderly population suffering from acute respiratory disorders. As per the UN report, aging population is expected to reach over 2 billion by 2050. The increasing geriatric population base is estimated to be a prime factor driving the medical oxygen concentrators industry trends over the coming years. As per Global Market Insights, Inc., “Medical oxygen concentrators market size is expected to hit USD 2.3 billion by 2023.� Moreover, favorable medical insurance as well as reimbursement policies are expected to offer lucrative avenues for the global industry landscape.

Portable and fixed medical oxygen concentrators are the two major product segments of the medical oxygen concentrators market. High popularity of lightweight and user friendly concentrators is expected to enhance portable medical oxygen concentrators market value over the coming six years. Furthermore, its prominent use across shopping malls, airports, and offices is projected to fuel the product demand. Favorable government initiatives encouraging the use of FAA (Federal Aviation Administration) compliant portable medical oxygen concentrators in aircraft is further expected to propel the portable medical oxygen concentrators industry growth over the period of 2016-2023. Fixed medical oxygen concentrators industry, which made significant contributions towards the overall revenue in 2015, is expected to witness a noticeable growth over the next few years, driven by the rapid increase in the aging population susceptible to respiratory disorders. Medical oxygen concentrators find wide applications in home care and non- home care sectors. Medical oxygen concentrators market is predicted to observe a lucrative growth in the home care sector over the coming six years. Increase in the number of severely affected COPD patients requiring oxygen therapy at home along with the affordability and efficiency of this system will propel the medical oxygen concentrators industry size in home care sector.

1|Page


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.