India Oxygen concentrators Market to Grow with a double digit CAGR until FY2027
Increasing health awareness
among the population is driving the growth of India Oxygen concentrators Market
in the forecast years.
According to TechSci report
on, “India Oxygen Concentrators Market By Type (Portable v/s
Stationary) By Technology (Pulse Flow v/s Continuous Flow) By Application
(Bronchitis, Pneumonia, COVID-19, Lung Cancer, Others) By End Users (Hospitals
& Clinics, Ambulatory Care Centres, Home Care) By Region, Competition
Forecast & Opportunities, FY2027”, India oxygen concentrators market has shown promising growth in historical years
until FY2020 and is expected to continue its growth in upcoming forecast years
FY2023 to FY2027. India oxygen concentrators market owes its growth to the
factors like increasing cases of pulmonary diseases among the population along
with the surge in demand of the oxygen concentrators in the healthcare industry
owing to the increasing number of chronic patients with respiratory disorders.
Also, the rising number of COVID-19 infected patients is driving the growth of
the India oxygen concentrators market in the forecast period until FY2027.
According to the
records of World Health Organization (WHO) about 20 million patients suffer
from asthma in the country. To cater their requirement of the oxygen and to
provide it with efficiency and timed supply, the demand for the oxygen
concentrator is anticipated to surge the growth of the market. Moreover, Indian
government is undertaking initiatives to improve the access to the disease
management, these innovations coupled with the provision of technologically
advanced products will boost the market growth in the next five years. However,
stringent regulatory landscape associated with manufacturing and marketing
standards of medical oxygen concentrators may limit product approvals of
product manufacturers.
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The
India oxygen concentrators market is segmented by type, technology,
application, end user, competitional landscape, and regional analysis. Based on
technology, the market is further categorized into pulse flow and continuous
flow. Pulse flow oxygen concentrators work on the principle where it provides
puffs of oxygen when the patient inhales. Continuous flow provides oxygen
regardless of whether the oxygen patient is inhaling or exhaling.
Based
on application, the market is further fragmented by bronchitis, pneumonia,
COVID-19, lung cancer, and others. COVID-19 is anticipated to hold the largest
market share owing to the large number of the patients that is continuously
increasing due to the new strain of virus that was recently discovered.
Moreover, other lung problems like bronchitis, is also anticipated to hold a
significant market share owing to the increased pollution and foul air quality
of the country. Based on end user the market is categorized on the basis of hospitals
& clinics, ambulatory care centres, home care. Hospitals & Clinics are
anticipated to hold the largest market share in the future five years owing to
the large sized tanks and need of expert monitoring for the supply t be
consistent and continuous. Although, homecare is expected to experience the
fastest growth in the market share owing to the pandemic situation the country
is struggling with.
Some of the top
players in the India oxygen concentrators market are, Philips India Limited,
Invacare Corporation India, ResMed India Pvt. Ltd., Teijin India Private
Limited, Inogen India, AirSep India, Nidek Medical India Pvt Ltd, Sanrai Med
India Private Limited (O2 Concepts), GCE India Pvt. Ltd., Kannu Impex (India)
Pvt. Ltd., among others. The companies are involving themselves into research
and development for the methods of better quality, and various quality analysis
tests to provide the better products.
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“India oxygen concentrators market is anticipated to grow on the factor
of rising coronavirus infected patient count in the upcoming five years. The
spread of virus has recently taken a new toll of death counts that has reached
to more than one million. Market players who are looking for expansion or any
new players who want to enter the market, may focus over the regions and cities
with the higher patient counts and on the distribution methods for the supply
of the product in the otherwise lacking areas,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Oxygen
Concentrators Market By Type (Portable v/s Stationary) By Technology (Pulse
Flow v/s Continuous Flow) By Application (Bronchitis, Pneumonia, COVID-19, Lung
Cancer, Others) By End Users (Hospitals & Clinics, Ambulatory Care Centres,
Home Care) By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India oxygen
concentrators market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India oxygen concentrators
market.
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