Asia-Pacific Medical Oxygen Concentrator Market Outlook, 2027

According to the report titled, “Asia-Pacific Medical Oxygen Concentrators Market Outlook, 2027”, published by Bonafide Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Portable, Stationary, & Oxygen Cylinders), based on technology (Continuous Flow & Pulse Flow), based on end users (Home Care & Non Home Care), based on Asian countries & major companies. An increasing number of baby boomers in the Asia Pacific will act as the primary driver for medical oxygen concentrator’s market growth in the region. The market in the year 2016 was valued at USD 0.34 Billion, holding the third position in the global market, expected to be one of the fastest-growing regions. Elderly people are prone to suffer from various respiratory conditions leading to high demand for medical oxygen concentrators in the region. Through the forecasted period, the market is expected to have a growth rate of Almost 8%, one of the highest anticipated CAGR. Changing lifestyle habits including an increased rate of tobacco smoking along with elevated pollution levels will increase the incidence rate of respiratory diseases thereby fueling business growth. Some common chronic medical illnesses, such as chronic obstructive pulmonary disease (COPD), emphysema, and chronic bronchitis, which are common long-term effects of smoking, necessitate oxygen treatment or supplemental oxygen to provide adequate oxygen levels. Furthermore, many types of oxygen systems are used to deliver a controlled amount of oxygen to patients. Additionally, medical oxygen gas is high purity oxygen that is created for usage in the human body and is used for clinical therapies. Increase in daily exposure to environmental pollution is driving the market. Additionally, increase in population susceptible to indoor air pollutants as well as increase in population of active smokers is also responsible for propelling the growth of the market.

However, high cost of oxygen concentrators and stringent regulatory procedures are hampering the growth of the market. Furthermore, high growth potential in emerging market and increase in geriatric population will create lucrative growth opportunities for the oxygen concentrators market during the forecast period. The advancement and development in the sector are increasing in the last few years. The market for portable oxygen concentrator devices is expected to grow, owing to factors such as higher adoption of home care products depending upon patient’s feasibility. Portable oxygen concentrators dispense oxygen in the exact same way as that of oxygen tanks. Instead of the limited amount of pressurized oxygen that can be used through the oxygen tanks, oxygen concentrators use a filtering system that takes ambient air in from around the patient, compress it and modify it to medical-grade standards, making it ideal for patient delivery. This portable nature and convenience of the product will further grow the market in the region. The Asia Pacific is price sensitive market hence cost-effectiveness offered by fixed medical oxygen concentrators in comparison to portable ones will further impact the growth. Unlike the global trend, the oxygen cylinder segment in the region showed an incline in the historic period, but by the forecasted period, it is to decline again. This leading segment contributed to around 53% in the year 2021. A rising number of people suffering from severe respiratory conditions requiring a continuous flow of oxygen coupled with the high capacity of fixed medical oxygen concentrators will drive industry growth. The portable cylinder segment is expected to grow with an anticipated CAGR of a little above 10%, through the forecasted period, marking itself as the highest growth rate. Pulse flow medical oxygen concentrators accounted for more than 13% of revenue share in 2021. Pulse flow technology is majorly used in portable medical oxygen concentrators. Growing demand for portable devices will drive the growth of the Asia Pacific pulse flow medical oxygen concentrators market. The non-homecare segment was at par with the other segment, contributing to a value of USD 0.17 Billion by the end of 2016. People suffering from chronic respiratory diseases that have the requirement of oxygen supplements at home and during travel usually prefer these concentrators due to their portability and ease of use. Greater versatility, lightweight nature, upfront costs, and unlimited oxygen are some of the factors that make these devices ideal for home care. The home care segment in the region is expected to grow over a CAGR of 10.05%, through the forecasted period majorly due to the rise in elite population in the countries of this region. Government initiatives on releasing funds to hospitals, clinics, and diagnostics centers on purchasing oxygen concentrators and cylinders have aided the growth of the non-homecare segment, which accounted for more than USD 0.20 Billion in 2021. The governments’ initiatives in creating awareness about oxygen therapy and efforts of making it affordable even in the rural regions have been a boom in increasing the market size. China & India have a high level of air pollution due to a surge in the number of motorized vehicles, economic boom, output from manufacturing, high population growth, and others. The extensive air pollution in these countries leads to an increasing patient population suffering from respiratory problems thereby stimulating medical oxygen concentrators demand. However, less awareness about medical oxygen concentrators coupled with stringent regulations will limit industry expansion to a certain extent over the forecast timeframe. COVID-19 Impact The Covid-19 virus directly affected the lungs and in turn hampered the respiratory process, with the Asia pacific region being one of the epicenter for the spread of the virus, there was an unprecedented demand for these equipment during the pandemic. This helped the market grow tremendously. On the other hand the supply chain was disturbed by the travel restrictions which caused issues in production, and so this industry was not able to cater to the demand properly. This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Bonafide Research has segmented the Asia-Pacific Medical Oxygen Concentrator Market report based on product, technology, end users, and countries: Companies included: Caire Inc, Inogen Inc., Invacare Corporation, Koninklijke Philips N.V., Nidek Medical products Inc., ResMed Inc, Teijin Pharma Limited, Besco Medical Limited, GCE Group, MedTronic Considered in the report • Geography: Asia Pacific • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027 Countries covered: • China • Japan • India • Australia Aspects covered in the report • Market Size by Value for the period (2016-2027F) • Market Share by Product (Portable Oxygen Concentrator, Stationary Oxygen Concentrator, & Oxygen Cylinders) • Market Share by Technology (Continuous Flow & Pulse Flow) • Market Share by End User (Home Care & Non-Home Care) • Market Share by Country • Market Share by Company The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Medical Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.