Published Date: 2021-09-27
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North American Medical Oxygen Concentrator Market size is estimated to cross USD 1.2 billion by 2027, according to a latest forecast report by Graphical Research.
Growing burden of chronic obstructive pulmonary disease (COPD) in North America will positively impact medical oxygen concentrator industry growth. COPD is the leading cause of death in the region. As per the American Lung Association, in 2018, nearly 16.4 million people and around 6.6% of adults were diagnosed with COPD. Oxygen therapy assists the patient in increasing oxygen concentration in the body and improvement of quality of life.
Growing consumption of tobacco and smoking is one of the major factors that are contributing to demand for medical oxygen concentrators. According to the Centers for Disease Control and Prevention (CDC), around 40 million adults in the U.S. smoke cigarette, and nearly 4.7 million middle and high school students consume at least one tobacco product. Increasing consumption of tobacco is leading to range of respiratory and lung disorders, thereby creating high demand for oxygen therapy.
The COVID-19 pandemic has positively impacted the overall North America medical oxygen concentrator market. With the increase in the hospitalization of COVID-19 patients, numerous healthcare providers are facing difficulties to treat critically ill patients due to a shortage of ventilators, as the severe cases of COVID-19 require some form of artificial respiratory support. Thus, in order to provide respiratory support to COVID-19 patients, the demand for oxygen concentrators has increased in the region. However, strict regulatory policies for the product and high cost of medical oxygen concentrators may hamper medical oxygen concentrators industry growth in forecast years.
Browse detailed statistical insights from the report, “North America Medical Oxygen Concentrators Market Forecast 2027 By Application (Home Care, Non-homecare), By Product (Portable Medical Oxygen Concentrators, Fixed Medical Oxygen Concentrators), By Technology (Continuous Flow, Pulse Flow), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1168/north-america-medical-oxygen-concentrators
The fixed medical oxygen concentrators segment will exhibit fast growth in near term. Fixed oxygen concentrators are available at low cost as compared to portable oxygen concentrators. Thus, the demand and preference for fixed oxygen concentrators is projected to increase. Rising adoption for oxygen concentrator for home care centers, bedridden patients are expected to further augment the segment growth in forecast period.
Non-homecare segment was valued at over USD 350 million revenue in 2020 attributed to growing hospitalization of patients owing to sudden increase in coronavirus-infected patients contributed to the segment growth. Further, increasing capacity and spending of healthcare settings will augment the non-homecare segment growth in future.
Pulse flow technology segment dominated over USD 700 million revenue in 2020. Pulse flow technology is more convenient compared to continuous flow technology and is used by the patients that require low volume of oxygen delivery per minute. This technology is majorly adopted by people with active lifestyle such as travelers, sports players, and working professionals. Hence, the higher preference and adoption will contribute to the segment growth in future.
Canada medical oxygen concentrator market is anticipated to proceed at -0.6% CAGR between 2021 to 2027. Increasing healthcare expenditure in Canada is poised to drive the market growth continuously in the forecast period. Canada spent around 11.5% of the total GDP on healthcare sector in 2019. Adding to this, favorable demographics such as growing number of baby boomers, and increasing prevalence of chronic diseases will boost the demand for oxygen concentrator in the nation.
The North America 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:
North America Market, By Type
North America Market, By Application
North America Market, By Technology
The above information has been provided for the following countries:
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