Dublin, Aug. 17, 2021 (GLOBE NEWSWIRE) -- The "North America Oxygen Concentrator Market Outlook, 2026" report has been added to ResearchAndMarkets.com's offering.
Apart from the already prevailing respiratory ailments, the COVID 19 pandemic had its part in the rapid increase in the demand for oxygen concentrators in the region. Invacare Corporations, which is one of the global leading companies, achieved a 72.2% increase in terms of sales in the last quarter of 2020, owing to the COVID outburst.
COVID patients who do not require ventilator support can be treated with an oxygen concentrator. Moreover, patients can take oxygen therapy in the safety and comfort of their homes. The application of oxygen concentrators in the treatment of COVID-19 is a major reason for the sudden increase in demand in 2020.
Through the forecasted period, the regional market is expected to show a growth of over 5.5%, retaining its market dominance with a decline in market share. Other major key players are Philips Health Care, AirSep Corporation, DeVilbiss Healthcare, Nidek Medical Products, Inc., Inogen, Inc., Inova Labs, Inc., O2 Concepts & others.
One of the biggest problems in the region is the growing geriatric population, which in turn has been a boost to the market growth. As per the United Nations Department of Economic and Social Affairs, the number of elderly people in Northern America is projected to grow by 41.0% by 2030.
The frequency of increasing respiratory disorders among the aged population has allowed the oxygen cylinder segment to account for a value of USD 0.24 Billion in the year 2015. The increase in cases of respiratory disorders including asthma, COPD, fibrosis, and pulmonary hypertension among young adults is estimated as a driver for the portable oxygen cylinder segment in the region, which is to have an anticipated CAGR of 9%.
The easy availability in a large number, rapid technology development, and the growing prevalence of patients suffering from long-term respiratory disorders had allowed the continuous flow oxygen concentrators segment to account for a market share of over 85% in 2020.
However, the pulse flow segment is expected to grow at a significant growth rate during the forecast period owing to its lightweight, high mobility, and suitability for patients having an active lifestyle. Being an ideal choice for the condition which requires low liters of O2 per minute, the pulse flow segment is looked forward to growing to a market value of USD 0.17 Billion by the end of the forecasted period.
In North America, the home care segment dominated the market as an end-user, holding more than half of the market share, and expected to show an incline in the market. It can be ascertained reason that the increase in home therapy for COPD is the root cause for this market dominance.
Even though losing the market share, the nonhome care segment witnessed a lucrative market value of USD 0.29 Billion in 2020, due to the COVID outbreak. In terms of country, the USA holds a major market share, while all the rest countries could hardly manage a single-digit market share.
There were more than 46 Million adults older than 65 years old in 2020 and is estimated to increase to 90 Million by 2050 in the USA. Along with this, a minimum of 16.4 Million people was suffering from COPD in 2018 in the country which in 2014 was at 14.9 Million. Such prevalence of respiratory disorders and the geriatric population is boosting the market potential in the country.
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Global Medical Oxygen Concentrators Market Outlook
3.1. Market Size by Value
3.2. Market Share
3.2.1. By Product Type
3.2.2. By Technology Type
3.2.3. By End User
3.2.4. By Region
3.2.5. By Country
3.2.6. By Company
4. North America Medical Oxygen Concentrators Market Outlook
4.1. Market Size by Value
4.2. Market Share
4.2.1. By Product Type
4.2.2. By Technology Type
4.2.3. By End User
4.2.4. By Country
4.3. US Medical Oxygen Concentrators Market Outlook
4.4. Canada Medical Oxygen Concentrators Market Outlook
4.5. Mexico Medical Oxygen Concentrators Market Outlook
5. Market Dynamics
5.1. Key Drivers
5.2. Key Challenges
6. Market Trends and Developments
6.1. Increasing Technological Advancements for the Miniaturization of the Oxygen Concentrators
6.2. Increasing Innovation is the need of the hour
6.3. Altitude Masks
6.4. Use of Renewable Source for Power
7. Company Profiles
7.1. Caire Inc.
7.2. Inogen Inc.
7.3. Invacare Corporation
7.4. Koninklijke Philips
7.5. Nidek Medical Products Inc.
7.6. O2 Concepts LLC
7.7. Precision Medical, Inc.
7.9. Teijin Limited
7.10. Company Overviews
7.10.1. AirSep Corporation
7.10.2. Besco Medical Limited
7.10.3. DeVilbiss Healthcare
7.10.4. GCE Group
7.10.6. Supera Anesthesia Innovations
8. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/xjph32
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