europe portable oxygen concentrators Market

The Europe portable oxygen concentrators market is projected to reach US$ 710.25 million by 2027 from US$ 381.70 million in 2019. The market is estimated to grow at a CAGR of 8.2% from 2020 to 2027.

The growth of the Europe portable oxygen concentrators market is attributed to the growing prevalence of respiratory disorders, rise in geriatric population and increasing demand for the portable oxygen concentrators as alternative breathing equipment amidst the COVID-19 pandemic. However, high cost of device is likely to hamper the growth of the market during the forecast period.

The portable oxygen concentrators are used in the treatment of chronic obstructive respiratory diseases and in COVID-19 cases as a replacement of respiratory device ventilator. The novel coronavirus can cause a significant respiratory distress and majority of the patients who do die are a result of extreme respiratory failure. The oxygen concentrators prove to be very helpful in providing supplemental oxygen or relieve breathing difficulty thereby expediting body’s healing process. The governments around the world are arranging oxygen concentrators to COVID-19 patients under home isolation to manage with sudden drop in oxygen among these patients. For instance, WHO and our UN partners are working with manufacturers across the world through a variety of private sector networks to buy oxygen concentrators for countries that need them most.

Furthermore, According to the World Health Organization and Worldometer’s data, approximately 203k cases of COVID-19 were confirmed in Germany by July 2020. Thus, increasing prevalence of COVID-19 cases, scarcity of ventilators for COVID-19 patients, and respiratory disorders are driving the portable oxygen concentrators devices market..

The Europe portable oxygen concentrators market, based on product, is further segmented into continuous flow and pulse flow. In 2019, the continuous flow segment held a larger share of the market. However, the pulse flow segment is expected to grow at the fastest rate during the forecast period. The Europe portable oxygen concentrators market, based on application, is segmented into COPD, asthma, respiratory distress syndrome and others. In 2019, the COPD segment held a larger share of the market and is expected to register a higher CAGR during 2020–2027. Further, the Europe portable oxygen concentrators market, based on end user, is segmented into hospitals, home care settings and others. In 2019, the home care settings segment held a larger share of the market and is expected to register a higher CAGR during 2020–2027.

A few of the major primary and secondary sources referred to in the process of preparing the report on the portable oxygen concentrators market are the World Health Organization, Ministry of Health and Prevention, and European Union.