The global medical oxygen concentrators market size valued at US$ 1090.28 million in 2020 and is anticipated to record US$ 2263.59 million till 2026 witnessing a CAGR of 11% over the forecast period 2021-2027.

Medical Oxygen Concentrators Market is projected to record significant growth due to the factor such as technological advancements in oxygen concentrators, increasing aging population and increase in conditions of different respiratory disorders. Key players operating in the medical oxygen concentrators market are hugely shifting their focus from providing cost-efficient products to value-based products for increasing the sales of the products and gain huge profits in the market.

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Players of this market introduced oxygen concentrators, which have features like lighter weight and compact devices with changeable oxygen supply capacity to fulfill the huge demand of customers. New advances in the development of product are going to affect the market growth during the forecast period. Furthermore, numerous oxygen concentrators are introduced having dissimilar flow rate like constant and pulse flow devices that can be observed digitally to enhance their usability among patients in homecare setups and hospital, which also contribute to advance market revenue growth around the globe. One of the leading driving factors of market growth is the growing aging population who are more susceptible to numerous respiratory illnesses. Furthermore, increasing count of chronic obstructive pulmonary disease patients are opting for oxygen concentrators, which impel the revenue growth of the market. For example, COPD caused three million deaths worldwide in 2015 according to World Health Organization. Moreover, increasing consumption of marijuana, cigarettes as well as rising air pollution causing respiratory illnesses impel the use of oxygen concentrators by the patients.

North America is leading the medical oxygen concentrators market and anticipated to dominate over the forecast duration due to the well-developed homecare services and approving repayment policies in the region. Medical oxygen concentrators market in Asia Pacific is anticipated to record significant CAGR due to the huge patient population in the region.

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There are several key players operating in the global medical oxygen concentrators market, which are Chart Industries, Inc. (U.S.), Medtronic plc. (U.S), DeVilbiss Healthcare LLC (U.S), GCE Group (Sweden), Inogen (U.S), Invacare Corporation (U.S), Koninklijke Philips N.V. (Netherlands), Linde Healthcare (Germany), Nidek Medical Products, Inc. (U.S), O2 Concepts, LLC (U.S), Oxus America (U.S), Oxygen to Go, LLC (U.S) and Teijin Limited (Japan). Key players of this market are concentrating more on launching technologically advanced products having enhancing safety features to gain huge market share.

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