The growing advancement in oxygen concentrators technology, and rising demand amidst the covid-19 pandemic will drive tremendous growth for oxygen concentrators market during the 2021-2028 period. The oxygen concentrator devices provide ambient air through concentration of oxygen-enriched product gas steam. The system helps remove nitrogen from the air, and provides essential life support from patients suffering from life-threatening conditions. The low levels of oxygen in supply, and increased need to cater to ventilator system remain major drivers amidst the worldwide pandemic. The increased in corona virus variants, and limited demonstrated efficacy of current vaccine to deal with emerging variants also remains the notable driver of future growth in the medical oxygen concentrators market. The market will reach a promising valuation of over 7 billion by 2024 end, as demand skyrockets growth prospect with a promising CAGR of over 9% during the 2021-2028 period.
According to the World Health Organization (WHO), the total global population of coronavirus patients has reached 132,730,691 cases by 8 April, 2021. Furthermore, the crisis has resulted in over 2,880,726 deaths. Furthermore, on average, about 3% of the population is estimated to need emergency treatments including ventilation support. the large number of emerging coronavirus cases, emerging new strains of the virus, and growing demand for medical oxygen supply remain key drivers of growth in the medical oxygen concentrators market.
Key players in the global Medical Oxygen Concentrator market covered in Chapter 13:
Beijing North Star
In Chapter 6, on the basis of types, the Medical Oxygen Concentrator market from 2015 to 2025 is primarily split into:
Portable Medical Oxygen Concentrator
Stationary Medical Oxygen Concentrator
In Chapter 7, on the basis of applications, the Medical Oxygen Concentrator market from 2015 to 2025 covers:
Market segment by Region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Limitations in Vaccination Drives to Create More Demand for Emergency Services
The vaccine supplies and its shortages are making for another bleak economic outlook for the global population. According to the WHO, the disparity in vaccine supply among developed and emerging nations continues to remain a challenge for growth of the global economy, and remains a daunting prospect for people globally. For example, despite the attempts of global alliances like GAVI, the vaccine shortage will likely not be able to meet demands globally well into 2024. Furthermore, the growing demand to tackle new variants of the coronavirus will also delay the demand, which is currently plagued from shortages in supply. Additionally, poor infrastructure in the developed world, and stringent requirements for some of vaccines will make it essential to provide several emergency services well into 2024 for the global population.
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