Asia Pacific Medical Oxygen Concentrators Market size crossed USD 1.1 billion in 2020 and is projected to observe around -6.2% growth rate between 2021 and 2027.
Growing geriatric population base in the region will offer lucrative growth opportunities to the market. As elderly population is susceptible to cardiopulmonary diseases due to weak immune system and low cough strength, they are exposed to high risk of developing lung disorders. According to the World Health Organization (WHO), in South-East Asia nearly 9.8% population were aged above 60 years in 2017 and the proportion is expected to reach 13.7% by 2030. In addition, during COVID-19 pandemic, several private and public organizations have implemented numerous programs to provide better solutions for patients with respiratory disorders.
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Government initiatives and support to expand local manufacturing will majorly benefit to regional medical oxygen concentrators market players. Moreover, researchers are focused to develop advanced medical oxygen concentrators that will offer ease to use and durability. Further, collaborative efforts by the government and private organizations will excel the development activities and broaden accessibility in the region.
Asia Pacific Market, By Application
Non-home care segment is expected to witness -6.4% CAGR during the forecast period, with growing preference towards adoption of highly efficient and effective medical equipment in healthcare facilities. Incidence of COVID-19 pandemic has further stimulated the demand for oxygen concentrators in hospitals and specialty COVID centers as the patients suffering through the virus infection experiences low oxygen levels. Furthermore, portable devices have offered convenience in providing services through mobile platforms during pandemic.
Asia Pacific Market, By Type
Fixed medical oxygen concentrators market accounted for around 40% revenue share in 2020, due to integration of advanced technologies. Higher product adoption in non-mobile healthcare settings including hospitals will propel the segment growth. Furthermore, large volume capacities increase the product adoption in settings requiring continuous oxygen supply to patients. In addition, growing investment on healthcare infrastructure in developing counties will fuel the market demand.
Asia Pacific Market, By Technology
Continuous flow segment revenue is set to reach USD 590 million by 2027. Advanced technologies enabling product development will enhance the segment demand. As the technology provides continuous uninterrupted stream of oxygen, it is widely used in several healthcare facilities for patients with severe respiratory failure. Use of continuous flow concentrators among patients with prescribed high LPM (liter per minute) will positively impact the overall segment revenue.
Asia Pacific Market, By Country
China medical oxygen concentrators market size is anticipated to progress at 11.9% CAGR through 2027, attributed to the expanding local manufacturing coupled with increasing number of suppliers. Adoption of innovative medical oxygen concentrator technologies from international leading players has led to high specificity and expression. Such developments allow firms to cater to expanding patient population and offered business expansion opportunities in the region.
Competitive Industry Landscape
Established players involved in the Asia Pacific medical oxygen concentrators market include Teijin Limited, Yuwell, O2 Concepts, NGK Spark Plug Co. Ltd., Inogen Inc., Invacare corporation, CAIRE Inc., Koninklijke Philips N.V., and NIDEK Medical Products.