The oxygen concentrator market is growing larger with newer approaches towards oxygen therapy initiated by the development and production of associated equipment worldwide. The trend of all-purpose portable and extremely low-weight oxygen concentrators with robust capacity has transformed the everyday life of patients as an essential companion enabling transportation freedom. The introduction of Inogen’s One G5™ oxygen concentrator is a major push forth to the niche market growth. Also, the acquisition of VBOX by 3B Medical remains as a major thrust to the progressive prospect of the global oxygen concentrator market. The global Oxygen Concentrator Market Oxygen Concentrator Market gained a huge revenue of $1.7 billion in the year 2018 stimulated by novel product launches as well as high industrial and residential demand. During the forecast period of 2019-2025, this demand is anticipated to grow at a considerable CAGR of 7%.Oxygen Therapy For Medical Treatment:
The innovation of modern oxygen concentrators has aided the development of medical science in treating several dreadful diseases in the past few decades. Oxygen therapy remains one of the prominent procedures in healthcare facilities, which relies largely on oxygen concentrators and efficiently provides medical oxygen by selecting from the natural environment. The growth in the incidences of pulmonary diseases across the world has majorly fueled the emergence and production of proficient oxygen concentrators, significantly pushing forth the niche market growth. As per the estimation of the American Cancer Society, lung cancer will be affecting nearly 228,150 people in the United States in 2019.
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Pioneering Market Companies And Significant Development:
Innovation propelled by various market players is elevating the oxygen concentrator business output across the globe. Massive R&D activities and colossal investment further administer this, eventually acquiring huge customer support. The major players in the global oxygen concentrator market include Drive DeVilbiss Healthcare, Inc., Philips Healthcare, Invacare Corporation, Nidek Medical, Inogen, Inc., AirSep Corporation, and ResMed, and others.
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