Whether it is chronic obstructive pulmonary disease (COPD), pulmonary fibrosis (PF), lung cancer, or another ailment, trouble in breathing can seriously impair many aspects of day-to day-life, and the majority of people would prefer to have easy breathing. Among the traditional treatment options for chronic lung diseases the use of supplemental oxygen at the most severe stages is prescribed near-universally. Although other forms of medication are often used in tandem – inhalers, corticosteroids, and prescription medications – the use of supplemental oxygen has remained a staple in the treatment of lung disease for its ability to provide continuing respiratory support for those who struggle with their oxygen intake on a day-to-day basis. Oxygen is an essential medical therapy that has been saving lives for over 100 years.
An oxygen concentrator is one of the best solutions people need, to not only aid with the process of breathing currently but also prevent future issues that come from shortness of breath. This kind of advancement in medical technology is an amazing improvement for many, and it deserves recognition and understanding throughout the different communities associated with breathing difficulties. Such devices have been a godsend for patients. Instead of needing to be confined to beds and remain connected by breathing tubes to large machines filled with compressed oxygen, patients using oxygen concentrators that extract oxygen from ambient air can carry on their normal daily activities. Based on the principle of pressure swing adsorption (PSA) technology, these oxygen machines are now widely used in homes for oxygen therapy especially where liquid or pressurized oxygen is too dangerous or inconvenient.
Recently, portable oxygen concentrators are gaining popularity owing to their miniature design, being noiseless, and also easy to use. These products make use of advanced technology lithium rechargeable batteries allowing patients the freedom to move. Portable oxygen concentrators use pulse-flow technology rather than continuous flow technology, which essentially waste oxygen and electricity when not in use. However, the high cost of these concentrators is making it difficult for emerging economies to adopt them at a faster rate.
Indian Market Dynamics
The Indian market for oxygen concentrators in 2015–2016 continued to grow at 15 percent. Stationary oxygen concentrators dominate the market, with government constituting 20 percent of the market. In the portable segment, the private sector holds the entire market share.
Philips is a clear leader in this segment. Airsep, which had a dominant share in 2015–2016, is exiting the segment in 2016. Taurus and Medicare had success with the government tenders in 2015–2016, albeit at 25 percent lower price levels. Invacare also has a strong presence in this segment. NRHM has invited a tender for 10,000 units in 2016.
The global medical oxygen concentrators market is projected to reach USD 2.41 billion in 2024 from USD 1.25 billion in 2016, reflecting a CAGR of 8.5 percent, predicts Transparency Market Research. The market is currently being driven by the rising number of COPD patients across the world. The number of patients suffering from lung cancer, asthma, smoking-related lung disorders, and other respiratory illnesses is also increasing at a swift rate, further boosting the overall demand for oxygen supply units especially medical oxygen concentrators. These units are also considered more advantageous due to their portability and the fact that they can provide an uninterrupted supply of oxygen. Government-reimbursement policies are also being increasingly favorable to the global medical oxygen concentrators market and the adoption rate of these units.
The global industry is dominated by stationary oxygen concentrators due to high penetration of these devices in hospital and clinical settings. However, preference toward portable oxygen concentrators has witnessed huge growth. They are designed for an individual of any age, who is able to carry a unit along with his/her daily activities while receiving a concentrated supply of oxygen. Due to the several advantages posited by the use of portable oxygen concentrators, such as small size, ease of carrying, being light in weight, and use of rechargeable lithium batteries, it is expected that they will witness high growth shares in the global oxygen concentrators market during the next few years.
Pulse-dose technology is expected to be the key technology setting up a market trend, and is anticipated to contribute more than USD 1,000 million by 2024. The technology releases concentrated oxygen only when the patient inhales. Thus it does not base itself on continuous working of the oxygen concentrators and reduces overall consumption of power, allowing units to work on rechargeable lithium batteries. Pulse dose technology is popularly used along with portable oxygen concentrators as it is safer and more reliable compared to continuous flow.
North America contributed the leading volume of demand in the market owing to an increasing use of portable oxygen concentrators at home. This region is likely to remain in the lead over the coming years. Europe is placed second in terms of demand in the global market, owing to an increasing level of awareness regarding use of oxygen concentrators over conventional oxygen supply units. China, India, and Brazil are expected to offer attractive growth potential, with strong awareness for early diagnosis of respiratory disorders in order to prevent economic burden. Moreover, better access to healthcare with rising income levels is also predicted to boost the demand for medical oxygen concentrators.
As one of the most important advances in medical science and technology to this day, the oxygen concentrator is capable of providing a more well-rounded life for individuals plagued by breathing conundrums. COPD, lung cancer, and other respiratory illnesses can be life-changing without being detrimental to the future breathing prospects of an individual. With the improved portability, efficiency, and accessibility to oxygen concentrators, people are able to live their lives in a more fulfilling and exciting manner. The travel opportunities that come along with the use of a portable oxygen concentrator, the home-oriented mobility and independence that comes with the use of a home oxygen concentrator, and the freeing ability to take care of oneself without the restrictions associated with a regular oxygen tank are more than enough to convince anyone of the beneficial nature of oxygen concentrators. The future of assisted breathing and oxygen therapy lies within the realm of these fascinating machines, which provide countless opportunities for personal improvement.