Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3,552 Million | USD 8,112 Million | 6.2% | 2022 |
FrequentlyAsked Questions
Medical oxygen concentrators are vital respiratory devices that serve a critical role in giving concentrated oxygen to those who have difficulty breathing. These machines work by pulling in room air, filtering out contaminants, and delivering a constant stream of pure oxygen to patients via masks or nasal cannulas.
The global medical oxygen concentrator’s market cap may grow owing to the due to the increased frequency of respiratory illnesses, along with an aging population, is boosting demand for dependable respiratory support equipment.
According to study, the global medical oxygen concentrator’s market size was worth around USD 3,552 million in 2022 and is predicted to grow to around USD 8,112 million by 2030.
The CAGR value of the global medical oxygen concentrators market is expected to be around 6.2% during 2023-2030.
The global medical oxygen concentrator’s market growth is expected to be driven by Asia Pacific. It is currently the world’s highest revenue-generating market owing to region's growing aging population, coupled with a rising prevalence of respiratory disorders.
The global medical oxygen concentrators market is led by players like ResMed Inc., Philips Respironics, Invacare Corporation, Inogen Inc., Drive DeVilbiss Healthcare, Chart Industries, Nidek Medical Products Inc., Teijin Limited, Precision Medical, Inc., and GCE Group.
The report analyzes the global medical oxygen concentrators market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the medical oxygen concentrators industry.
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