March 17, 2020
According to the report titled ‘Europe Medical Oxygen Concentrators Market Size By Product, Application, Technology, Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2025’, available with Market Study Report LLC, Europe medical oxygen concentrators market is expected to cross USD 677 million by the year 2025.
As per the report, rising geriatric population and increased pervasiveness of fibrosis, asthma, and pulmonary hypertension are major factors driving the growth of Europe medical oxygen concentrators industry. Improving socio-economic conditions and rising life-expectancy are also fostering the demand for the product in Europe. Rising prevalence of COPD and increasing levels of air pollutants are also facilitating the market expansion. However, strict government regulations regarding the use of the product may hinder the overall market growth.
As per product type, fixed medical oxygen concentrators market segment was worth USD 179.3 million in 2017 and is presumed to expand substantially during the estimated timeframe. Factors such as uninterrupted flow and ease of use of fixed medical oxygen concentrators along with affordability of the product as compared to its counterparts is fueling the segmental growth.
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Based on the application spectrum, non-homecare segment is expected to grow with a CAGR of 5% during 2018-2025. Rising adoption of medical oxygen concentrators in care centers and hospitals coupled with increasing number of hospitalizations are favoring the business scenario in Europe. Additionally, rising elderly population that is susceptible to numerous chronic conditions has enhanced the adoption of medical oxygen concentrators across non-homecare settings.
In terms of technology, continuous flow segment will witness 6.6% CAGR during 2018-2025, cites the report. The equipment is extremely useful during emergency situations since they supply oxygen continuously. Additionally, technological advancements in the product is favoring the market outlook.
As per the regional analysis, France medical oxygen concentrators market is predicted to grow with a CAGR of 7.4% between 2018 and 2025. Growing occurrence of COPD among French population in tandem with rising spending on oxygen therapy are augmenting the demand for the product. Availability of favorable reimbursement policies is also driving the market growth across France.
The prominent companies operating in Europe medical oxygen concentrators industry are Yuwell, Teijin Ltd., O2 Concepts, NIDEK Medical Products Inc., NGK Spark Plug Co. Ltd., Koninklijke Philips N.V., Invacare Corp., Inova Labs Inc., Inogen Inc., and DeVilbiss Healthcare GmbH.
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