LONDON--(BUSINESS WIRE)--The global medical oxygen concentrators market is expected to grow by USD 1.14 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020.
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The global medical oxygen concentrators market is expected to witness an upsurge due to the spread of COVID-19. The extension of containment efforts is leading to higher demand and lower production. Hence, prices are expected to remain elevated in the short term, thereby resulting in an improved topline growth of market vendors.
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The market is driven by the growing focus on the expansion of product portfolios. In addition, technological advances are anticipated to boost the growth of the medical oxygen concentrators market.
The global medical oxygen concentrators market is highly fragmented due to the presence of several global and local vendors. The growing competition from the local vendors is compelling global vendors to increase their R&D efforts to develop advanced, innovative products and strengthen their product portfolios. For example, Invacare is one of the prominent vendors in the US with a strong geographic presence across the world. The company offers an extensive range of portable as well as stationary medical oxygen concentrators including Invacare Platinum 10 Oxygen Concentrator, Platinum XL 5-Liter Oxygen Concentrator, Invacare 5 Oxygen Concentrator, and others. Therefore, the growing focus on the expansion of product portfolios by vendors is expected to fuel the growth of the market during the forecast period.
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Major Five Medical Oxygen Concentrators Companies:
Chart Industries Inc.
Chart Industries Inc. operates its business through segments such as D&S East, D&S West, E&C Cryogenics, and E&C FinFans. The company offers a line of portable oxygen concentrators such as IAirSep Focus, AirSep FreeStyle, and AirSep FreeStyle 5 among others.
Drive DeVilbiss Healthcare Ltd.
Drive DeVilbiss Healthcare Ltd. operates its business through a unified segment. The company offers a line of products such as 5 Liter Oxygen Concentrator, iGo Portable Oxygen Concentrator, and iFill Personal Oxygen Station among others.
GCE Holding AB
GCE Holding AB operates its business through a unified segment. The company offers a wide range of medical oxygen concentrators. Zen-O and Zen-O lite are some of its key offerings.
Inogen Inc. operates its business through a unified segment. The company offers a line of products such as Inogen One G3 System, Inogen One G5 System, and Inogen At Home System.
InvacareÂ Corp. operates its business through segments such as Europe, North America, and Other. The company offers a line of products such as Invacare Perfecto2 V Oxygen Concentrator, Invacare Platinum 10 Oxygen Concentrator, and Invacare PreciseRX Pediatric Flowmeter among others.
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Medical Oxygen Concentrators Market Type Outlook (Revenue, USD Billion, 2020-2024)
Medical Oxygen Concentrators Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
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