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oxygen concentrators market was valued at $3,300.00 Mn in 2020, and is estimated to reach $6,063.90 Mn by 2030, growing at a CAGR of 5.90% from 2021 to 2030.

PORTLAND, OREGON, UNITED STATES, August 29, 2022 /EINPresswire.com/ -- Daily exposure to environmental pollution, increase in population susceptible to indoor air pollutants, and rise in number of active smokers across the world drive the growth of the global oxygen concentrators market. On the other hand, stringent regulatory procedures and high costs of oxygen concentrators restrain the growth to some extent. However, high growth potential in emerging markets and upsurge in geriatric population are expected to create lucrative opportunities in the industry.

The global oxygen concentrators market was valued at $3,300.00 million in 2020, and is estimated to reach $6,063.90 million by 2030, growing at a CAGR of 5.90% from 2021 to 2030.

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Homecare oxygen concentrators are a type of medical equipment which is used for delivering oxygen to people who have disorders related to breathing. Oxygen concentrators filter surrounding air, compressing it to the density required, and then to deliver purified medical oxygen into a continuous stream system or pulse-pose delivery system to the patient. The oxygen concentrators are utilized by patients requiring supplemental oxygen for aspiratory issue. For example, bronchitis, emphysema, lung malignancy, and intense pneumonia. The oxygen concentrator works by drawing in the air. Therefore, it separates the oxygen from the other gases using a filter system that allows only the oxygen to pass through the patient.

There has been an increase in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life-support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. There is an increase in the need for medical supplies, both from healthcare professionals and civil population for precautionary measures, owing to the rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the homecare oxygen concentrators market.

Oxygen gas treatment has now been thoroughly executed on patients for the therapy of chronic health issues to improve energy levels and sustain superior quality life of the patients.

Also, special attention is drawn to both the import and local manufacturing of medical oxygen gas to ensure its uninterrupted supply to designated COVID-19 hospitals identified by the local administration. These factors have impacted the global oxygen concentrators market positively. The global oxygen concentrators market is analyzed across technology, product, end user, and region.

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Based on product, the portable segment contributed to more than three-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 6.20% during the forecast period.

Based on region, the market across North America held the major share in 2020, garnering around two-fifths of the global market. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 7.90% throughout the forecast period. The other provinces discussed in the report include Europe and LAMEA.

The key market players analyzed in the global oxygen concentrators market report include Invacare Corporation, DeVilbiss Healthcare LLC, Inogen, Inc., Koninklijke Philips N.V., Chart Industries, Inc. (AirSep), Supera Anesthesia Innovations, GCE Group, Nidek Medical, O2 Concepts, Teijin Limited. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry. We also Offers Regional and Country Reports-

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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