A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Australia Medical Oxygen Concentrator market was worth USD 49.4 million in 2020. The market is projected to reach USD 92.7 million by 2027 with a (CAGR) of 11.3%. The growth of Australia Medical Oxygen Concentrator Market can be attributed to the growing incidence of chronic obstructive pulmonary diseases (COPD) in Australia. Chronic Obstructive Pulmonary Disease (COPD) is a collective term for a group of progressive lung conditions including emphysema, chronic bronchitis, and chronic asthma. COPD narrows the bronchial passages, making breathing difficult. It is a chronic disease with no known cure. COPD wreaks havoc on the lungs by permanently damaging the airways and airway sacs (alveoli).
The main cause of COPD is said to be inflammation, oxidative stress, and an imbalance ofproteases (enzymes that break up specific proteins) and anti-proteases in the lung. Oxidative stress is generally caused by oxidative chemicals and highly reactive free radicals present in tobacco. Generally, all smokers suffer from lung inflammation but not all develop COPD. People suffering from deficiency of alpha-1 antitrypsin and a rare inherited condition called cutis laxa are at a greater risk of developing COPDs.
Though COPD is incurable, various treatments and processes can help in decelerating the spread of the condition and controlling the symptoms. Another therapeutic option for managing the spread of the disease is oxygen therapy, which has both short and long-term benefits. People with COPD may either use oxygen tanks or medical oxygen concentrators to meet their extra oxygen needs.
Over the years, the use of pneumatics has helped greatly in reducing the size of the oxygen concentrators. There are no strict regulations for the designing of pneumatic components to be used in medical oxygen concentrators, which allows companies to be innovative with the design of pneumatic components. Pneumatic components were originally designed for industrial use, but as demand for them from the medical industry for use in medical oxygen concentrators grew, companies had to adapt. Pneumatic companies and medical device manufacturers have formed partnerships over the years for the development of miniaturization of medical devices and development of other advanced devices. Medical device manufacturers often use zeolites and nano-size zeolites to remove nitrogen from the air, which enables medical oxygen concentrators to be smaller. Reduction in the size of batteries, integration of nanotechnology, reduction in the size of medical oxygen concentrator absorber has all contributed to reducing the size of medical oxygen concentrators.
Oxygen therapy is gaining increasing acceptance in Australia but penetration of medical oxygen concentrators is very low. Patients prefer using portable oxygen cylinders due to the high maintenance costs of oxygen concentrators. As a result, oxygen concentrators compete directly with oxygen cylinders for market share and customer base. Oxygen cylinders are widely available and contain extremely pure oxygen. Additionally, oxygen cylinders also have low maintenance, require no electricity, and are quite reliable.
On the other hand, oxygen concentrators require power to operate. Stationary medical oxygen concentrators use electricity, while portable medical oxygen concentrators use batteries to transform oxygen from the air into concentrated oxygen. In case of mechanical failure in the medical oxygen cylinder or no availability of electricity, backup oxygen cylinders are necessary.
When a high flow rate of oxygen is required, the purity of oxygen suffers in medical oxygen concentrators. Apart from these factors, the requirement of regular maintenance, heat, noise, and vibration production are other associated issues with medical oxygen concentrators. Portable medical oxygen concentrators alleviate some of these problems, but they are very expensive. Also, portable medical oxygen cylinders are suitable for people with low oxygen requirements and are not suitable when continuous oxygen flow is required. Many businesses are trying to find a solution to the problems with medical oxygen concentrations described above as these issues are acting as a restraint for the growth of the medical oxygen concentrators market in Australia.
The Portable Oxygen Concentrator segment is the largest based on the product type
The portable oxygen concentrator segment accounted for the largest share in 2020 with 67.95% in the equipment market and 63.29% in the rental market. This segment is likely to dominate the market during the forecast period. This growth can be attributed to the benefits offered by the portable oxygen concentrator as they are easy to use, and even old age people can take this equipment along with them and use it effectively. The increasing number of respiratory-related diseases such as COPD, and lung-related diseases further drives the market growth for portable oxygen concentrators both in equipment and rental markets.
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