Medical Oxygen Concentrators Market Share to reach $2.3bn by 2023: Fractovia.org The research report “Medical Oxygen Concentrators Market Size By Product (Portable, Fixed), By Application (Home Care, Non-Home Care), By Technology (Pulse Dose, Continuous Flow), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, China, South Africa, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” by Global Market Insights, Inc. says Medical Oxygen Concentrators Market, worth more than USD 975 million in 2015, is slated to be valued at a revenue of more than USD 2 billion by 2023, increasing at an estimated CAGR of 10% over 2016-2023. Most of the elderly population is prone to chronic respiratory and pulmonary illnesses. This factor will fuel medical oxygen concentrators market over the next few years. With an ever-growing global geriatric population base, favorable reimbursement policies, growing patient awareness, and the huge rise in the occurrence of diseases such as hypertension, COPD, and asthma, global medical oxygen concentrators industry will observe a mounting growth.
Technologically, this industry is bifurcated into continuous flow and pulse dose. Continuous flow medical oxygen concentrators help deliver continuous, uninterrupted oxygen supply depending on the appropriate setting chosen as displayed on the device. Rising prevalence of chronic respiratory illnesses and increasing adoption rates of technologically innovative products will spur continuous flow technology market, which accounted for a share of more than 53% of medical oxygen concentrators market in 2015. Pulse dose technology is deployed with portable medical concentrators owing to its improved features of high reliability and overall safety. Pulse dose industry, having held a revenue of more than USD 450 million in 2015, is anticipated to exceed a revenue of USD 1,000 million by 2023, growing at a CAGR of 11.6% over 2016-2023.
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