Oxygen Concentrators Market Growth Accelerated by Growing Geriatric Population
Oxygen concentrators are medical devices used for delivering oxygen therapy to patients suffering from chronic obstructive pulmonary disease (COPD), asthma, cystic fibrosis, and other respiratory disorders. Oxygen concentrators separate oxygen from other gases in ambient air and provide a continuous flow of concentrated oxygen to patients through nasal prongs or masks. With the growing geriatric population worldwide, which is more susceptible to respiratory diseases, the demand for home-based oxygen therapy and oxygen concentrators is increasing rapidly. The Global Oxygen Concentrators Market Size is estimated to be valued at US$ 3.2 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing prevalence of respiratory diseases due to rising pollution levels and smoking rates has led to increased demand for oxygen therapy. As per WHO estimates,...