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Oxygen Concentrators Market, By Product Opportunity Analysis, and Industry Forecast 2016-2024

Oxygen Concentrators Market, By Product Opportunity Analysis, and Industry Forecast 2016-2024

Three are defined regulatory guidelines for the prescribers to identify situations wherein they can prescribe an oxygen concentrator. The FDA, EU and Australian Government has guidelines defining the prescribing authority, prescription writing and disorders for which oxygen concentrators can be clinically used. This is to further alleviate the risk of using oxygen concentrators in noncritical conditions. Advanced functions in oxygen concentrators that enable monitoring and controlling time-flow of oxygen makes it attractive for users. Hospitals, who are the major users of this device, have an option of selecting either continuous or pulse dose oxygen concentrators. These variants serve users with different needs and budgets.

Healthcare IT is an emerging field transforming the healthcare sector to a much better patient care industry. Oxygen concentrators can be linked to cloud-systems to aid manufacturers monitor the functioning of the device all the time. O2 Concepts LLC have its oxygen concentrator, Oxlife Independence being monitored via cloud system and receive periodic system updates for optimal battery performance. It is the world’s first smart portable oxygen concentrator, which has both the functions of pulse and continuous oxygen delivery mode.

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Market players are focused on offering 24x7 service for the users of oxygen concentrators, which in turn is driving growth of the market. Oxygen concentrators assure regarding reliability of the product as compared to oxygen tanks that are difficult to procure and manage. Furthermore, an integrated product-service model is expected to fuel growth of the global oxygen concentrators market during the forecast period. Oxygen concentrators are the most convenient and cost-effective oxygen delivery devices in the market, as they do not require refilling like conventional oxygen gas tanks and liquid oxygen cylinders. Furthermore, they are operated on electricity as well as battery, which makes it portable. Moreover, an oxygen concentrator is capable of providing continuous supply of oxygen, as it uses air as a source of oxygen.

Oxygen concentrators are convenient for domestic, as they are portable. convenience. High prevalence of respiratory disorders are propelling demand for oxygen concentrators, in turn driving growth of the market. Moreover, increasing adoption of oxygen concentrators among hospitals in emerging economies of Asia Pacific and Latin America is boosting growth of the market. According to the World Health Organization (WHO), around 235 million world population suffered from asthma in 2012. Long-term asthma can lead to chronic obstructive pulmonary disease (COPD), which is estimated to cause 3 million deaths worldwide in 2015.

Some of the major players involved in global oxygen concentrators market are Koninklijke Philips N.V., O2 Concepts, LLC, Oxygen to Go, LLC, Inogen, Invacare Corporation, AirSep Corporation, DeVilbiss Healthcare, Teijin Limited, Nidek Medical products, Inc. and Covidien Ltd.

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