Frequently Asked Questions:
The global market size is expected to reach USD 2.50 billion in 2020.
The global market is anticipated to attain a value of USD 4.63 billion by 2027, growing at a CAGR of 10.8% between 2015 and 2027.
Increasing prevalence of respiratory support, an older population, high investment in the department of research and development, dependence on home healthcare, the growing incidence of COVID-19 cases, and the inevitable technological advancements are driving the growth of the oxygen concentrator market.
North America is holding supremacy over other regions owing to reasons like growing spending by the U.S. population, an expanding elderly population, and changing lifestyles. In addition to that, the outbreak of COVID-19 has affected the market vastly, causing the demand to inflate even more than ever.
Various key players leading the global market include Koninklijke Philips N.V., Chart Industries, Inc. (AirSep), DeVilbiss Healthcare LLC, Supera Anesthesia Innovations, Invacare Corporation, Nidek Medical, Teijin Limited, Inogen, O2 Concepts, and GCE Group.