APAC Medical Oxygen Concentrator Market size is poised to surpass USD 1 billion by 2027, according to a latest forecast report by Graphical Research.
Growing adoption of unhealthy lifestyle including smoking and tobacco consumption in the region will lead to higher prevalence of pulmonary diseases. This will ultimately increase the demand for oxygen therapy with growing customer base. In addition, international and well-established market players are continuously expanding their footprints over the developing countries. These industry leaders have identified untapped major markets resulting in business expansion at faster pace. Moreover, large population base with increasing COVID-19 incidence rate has created ample opportunities for the industry, that will further drive the regional market growth.
According to the World Health Organization (WHO), about 3.2 million patients died due to COPD in 2019 and it is among the prominent causes of death. The mortality rate associated with pulmonary diseases is considerably higher in Asia Pacific owing to several environmental and lifestyle factors. Thus, with increasing risk factors, the number of patients suffering through diseases will also increase. Further, government initiatives and awareness programs for early diagnosis and treatment will simulate the market demand.
Portable medical oxygen concentrators segment held over 55% market share in 2020. Advantages such as portability, low weight and ease-of-use will increase customer preference towards portable devices. Several market players are continuously developing advanced devices to increase durability and battery life along with integration of membrane for better device efficacy. For instance, in November 2019, CAIRE launched FreeStyle Comfort, a portable oxygen concentrator with autoSAT technology, proprietary clinical feature and self-adjusting feature for patients. Benefits associated with portable oxygen concentrators coupled with growing patient population base will positively impact the segment growth.
Browse detailed statistical insights from the report, “Asia Pacific Medical Oxygen Concentrators Market Forecast 2027 By Product (Portable Medical Oxygen Concentrators, Fixed Medical Oxygen Concentrators), By Application (Home Care, Non-home Care), By Technology (Continuous Flow, Pulse Flow), Research Report, Country Outlook (Japan, China, India, Australia, South Korea, Malaysia, Indonesia, Thailand, Singapore, Taiwan, Philippines, Vietnam), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Home care segment is anticipated to proceed at -6.2% CAGR during forecast timeframe. Rising preference for homecare products with increasing geriatric population prone to chronic diseases will majorly contribute to the industry growth. Additionally, significant portion of population accessing COVID-19 treatment at home has driven demand for portable oxygen concentrators in home settings. Simplified operations, advanced features and small size is attributed to increasing product adoption in homecare.
Pulse flow segment was valued for over USD 650 million revenue in 2020 attributed to several benefits of pulse flow technology over continuous flow. Pulse flow technology-based concentrators delivers oxygen as per breathing rate and inhalation, thus reduces the excessive oxygen supply. It offers advantage of customization as per breathing rate of the patient. Moreover, pulse flow units are considered as more energy efficient and provide convenience in home settings.
India medical oxygen concentrator industry is projected to witness over -17.3% CAGR during projected period credited to increasing disease prevalence in the region. Along with prevalence of chronic diseases such as respiratory and cardiopulmonary conditions, emergence of severe infectious diseases including COVID-19 will positively benefit the product demand in the country. For instance, notable increase in number of COVID-19 cases has driven the demand for medical oxygen concentrators. Regulatory authorities have approved advanced medical oxygen concentrators to reduce the risk of mortality in COVID-19 patients.
The APAC medical oxygen concentrator market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Type
- Portable Medical Oxygen Concentrators
- Fixed Medical Oxygen Concentrators
Asia Pacific Market, By Application
Asia Pacific Market, By Technology
- Continuous Flow
- Pulse Flow
The above information has been provided for the following countries:
- Asia Pacific
- South Korea