Europe Medical Oxygen Concentrators Market size was valued at USD 365.8 million in 2017 and is expected to witness 7.5% CAGR from 2018 to 2025.
Europe Medical Oxygen Concentrators Market, 2017 & 2025 (USD Million)
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Growing prevalence rate of chronic obstructive pulmonary disorder (COPD) will stimulate market growth in the forthcoming years. High percent of the European population, especially adults are adopting unhealthy lifestyle habits such as smoking that escalates development of respiratory diorders such as COPD. Also, numerous countries are facing high pollution levels and exposure to toxic particulate matter that further increases the risk of acquiring the disorder. Moreover, growing geriatric population prone to COPD will boost the demand for medical oxygen concentrators in the region during coming period.
Rising initiatives to control and manage respiratory disorders will spur Europe Medical Oxygen Concentrators Market growth. Favorable initiatives such as, global initiative for chronic obstructive lung disease (GOLD) positively influences business growth. Also, the German government has been undertaking numerous initiatives in order to decrease pollution levels in the country and thus promote public health. Such initiatives will augment European medical oxygen concentrators business growth in the foreseeable future.
Portable medical oxygen concentrators segment accounted for major revenue size of over USD 186.0 million in 2017. High segmental size can be attributed to high convenience offered by portable medical oxygen concentrators. Light weight as well as compact design allow the patients to carry the devices during travelling. Furthermore, technological advancements such as membrane technology and pressure swing adsorption technology that are used in portable medical oxygen concentrators will accelerate the product adoption in the upcoming years.
Homecare medical oxygen concentrators application segment will witness robust growth at 8.7% CAGR throughout the forecast timeframe. Use of oxygen concentrators at home provides more comfort to the patient and allows to recover at a faster pace. Home care medical oxygen concentrators curbs the requirement for hospitalization. Thus, increasing patient preference for home care facilities due to such benefits will render significant positive impact on the home care segmental growth over the forthcoming timeframe.
Pulse flow medical oxygen concentrators technology segment held over 47% segmental share in 2017. Technological advancements in pulse dose such as autoSAT technology helps to maintain constant oxygen volume that will be a major segment growth impacting factor. Pulse flow oxygen concentrators adjust the breathing rate as per increase or decrease in patient’s breathing. Thus, advent of new and improved technology coupled with enhanced flexibility will impel pulse flow medical oxygen concentrators segment growth in the coming period.
Germany medical oxygen concentrators market dominated the industry with USD 115.5 million revenue size in 2017. Increasing prevalence of COPD and growing adoption of unhealthy habits that include tobacco smoking, unhealthy food intake are foremost factors driving medical oxygen concentrators market growth in Germany. Rising number of cigarette smokers, increasing unhealthy food intake, and lack of exercise are some factors that increase risk of chronic conditions. According to, OECD data in 2014, 6.1% of total population aged above 15 years in Germany were reported to be suffering from asthma while 5.3% suffered from COPD and the trend will grow over the coming years. Such trends will highly impact German medical oxygen concentrators industry growth.
Some of the major industry players involved in market include GCE Healthcare, Inogen, Invacare Corportion, ResMed among the other market players. Firms are undertaking strategic initiatives such as expansion of company’s market presence as well as customer base through enhancement of its of distribution channels. For instance, in 2017, Inogen added a European customer support site in the Netherlands after acquisition of MedSupport, a distributor.
Medical oxygen concentrators industry evolution began during the 1970s when these devices were developed for homecare applications. Homecare medical oxygen concentrators were larger in size in the initial days. Technological advancements and R&D of the product led to introduction of easy-to handle and patient friendly medical oxygen concentrators. Further, growing support from the European Aviation Safety Agency (EASA) for portable oxygen concentrators on airlines led to increase in adoption of the product. Currently, many countries’ government are taking initiatives to control and decrease the burden of respiratory diseases. Furthermore, increasing baby boomers and growing number of smokers will impel adoption and thus boost Europe medical oxygen concentrators industry growth in the forthcoming years.