India Oxygen Concentrator Market Expected to Boom During the Forecast Period: Flourishing Demand Driving the Market
Published | 29 April 2021
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the India oxygen concentrator market witnessed a huge surge in its revenue in the year 2020. It is estimated that the market will flourish during the forecast period as well owing to the growing demand for oxygen concentrators in the country. In India, a crippling second wave of coronavirus has left hospitals overwhelmed, with widespread oxygen shortages. As a result, demand for oxygen cylinders has risen exponentially, which is expected to fuel market growth.
Oxygen concentrators are medical devices that provide almost pure oxygen via tubes through the nose to those who suffer from respiratory problems. Oxygen concentrators are convenient to use and provide long-term benefits to the patients as they ensure a continuous supply of oxygen without the need to refill it time and again.
Application of Oxygen Concentrators in Oxygen Therapy for COVID-19 Patients
Patients with respiratory disorders such as asthma or those who are infected with Sars-Cov-2 (COVID-19) often experience severe distress as the oxygen levels in their lungs drop significantly. For maintaining the oxygen saturation level, healthcare professionals recommend oxygen therapy. According to WHO, oxygen therapy devices like oxygen concentrators are very effective especially for patients in such critical conditions. These are also very effective, especially for elderly people. The demand for oxygen concentrators is expected to increase during the forecast period, as the number of COVID-19 cases continues to rise across India.
Technological Advancements are fueling the Market Growth of Oxygen Concentrators
Technological advancements in oxygen concentrators are widening their applications and functions, which is contributing significantly to the market growth. As a result of rapid innovations by manufacturers, oxygen concentrators are becoming more user-friendly, lightweight, and compact, allowing for greater portability. Such advanced options are gaining popularity among patients, resulting in a surge in demand for oxygen concentrators in the country. Furthermore, with advanced integrated technologies, oxygen concentrators are developing improved and longer battery life, which will drive market growth even further.
Portable Oxygen Concentrators is Rapidly Gaining Traction in Terms of Demand
The demand for portable oxygen concentrators has skyrocketed in recent years, particularly since the country's COVID-19 cases began to rise. Nowadays, portable concentrators are increasingly used by patients with respiratory diseases like asthma, COPD, pneumonia, etc. The convenience that portable concentrators provide due to their mobility and ability to be carried anywhere is a major factor driving the demand for portable oxygen concentrators. Portable oxygen concentrators can also be easily used for air traveling purposes, which will further propel its demand during the forecast period.
India Oxygen Concentrator Market - Regional Market
Geographically, the Indian oxygen concentrator market is segmented into North India, South India, East India, and West India. The Western region of the country has the largest market share in the India oxygen concentrator market, owing to the high number of COVID-19 cases in Mumbai, which is driving demand for oxygen concentrators. However, the demand is constantly swelling in North India as well as the COVID-19 cases in northern states like Delhi, Uttar Pradesh, and others are increasing at an alarming rate, making them some of the worst-hit areas.
Impact of COVID-19 on the India Oxygen Concentrator Market
One of the critical symptoms of COVID-19 infection is that the affected person's oxygen level drops abruptly as the virus attacks the lungs, signaling an emergency. The cases of coronavirus infections are rising at a very alarming rate with over 18 million cases only in India till now since last year. As a result, hospital admissions for coronavirus treatment have increased significantly. However, neither the companies nor the government was prepared for the unexpected surge in demand, which resulted in a severe shortage of oxygen concentrators in hospitals and homes. Considering the current grim situation, the demand for oxygen concentrators in the country is increasing by leaps and bounds.
The key market players of the India oxygen concentrator market are Evox, GVS, Equinox, Eloxy, Oxymed, Nareena Lifesciences, BPL, Yuwell, Nidek Medical, SeQual Technologies, Caire, Invacare, Inogen, Philips Respironics, and other prominent players. The market players are increasingly engaging in various competitive strategies such as partnerships, product approvals, and launches in order to expand their production and product portfolio as well as meet end-user demands. Additionally, the companies are concentrating on growing their customer base to gain a competitive edge and establish themselves as market leaders.
Don’t miss the business opportunity of the India oxygen concentrator market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India oxygen concentrator market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India oxygen concentrator market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
- India Oxygen Concentrator Market, By Product Type (Portable Oxygen Concentrator, Stationary Oxygen Concentrator); By Application (Acute Medical Conditions, Chronic Diseases, Severe Acute Respiratory Syndrome Coronavirus 2 (Sars-Cov-2)); By End-User (Hospital, Homecare, Clinic, Travel); By Region (North, South, East, West) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Publish Date: April 2021
India’s oxygen concentrator market is growing at a healthy rate owing to the rise in COVID-19 cases. Currently, the market is at a nascent stage, however, it is expected to grow at an alarming rate during the forecast period, i.e., 2021-27.
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