Oxygen Concentrators Market Size, Share, Growth Analysis, By Type(Portable, Stationary), By Technology(Pulse flow, continuous flow), By End-use(Hospitals, Home care settings, ambulatory surgical centers & physician offices), By Region - Industry Forecast 2024-2031

Oxygen Concentrators Market Driver

Increased Awareness and Accessibility of Technologically Advanced Resources to Boost Market Growth

• The spread of chronic diseases will surge the market growth rate during the forecast period. One of the primary factors driving the market's growth is the rising frequency of respiratory illnesses such as asthma. The market is growing due to the growing geriatric population who are prone to such disorders and the growing need for convenient portable gadgets.
• The rise in daily exposure to environmental pollution will be a major factor influencing the growth of the oxygen concentrators market. Along with this, increasing urbanization and rising level of disposable income are the driving factors accelerating growth of the market.
• Also, increasing expenditure on healthcare infrastructure and the constantly changing lifestyle of people are the major market drivers that will further escalate the growth of oxygen concentrators in global market.

Oxygen Concentrators Market Restraint

High Cost and Lack of Skilled Professionals to Hinder Market Growth

• High cost associated with oxygen concentrators will obstruct the growth rate of the market. The absence of skilled professionals and strict regulatory procedures will also challenge the oxygen concentrators market.
• The impact of COVID-19 on the supply chain and limited reimbursement will act as a restrain and further impede the growth rate of the market during the forecast period.