"The oxygen concentrator market in Canada is experiencing steady growth and demand. Oxygen concentrators are medical devices used to deliver supplemental oxygen to individuals with respiratory conditions. Several factors contribute to the growth of the market in Canada. Firstly, the aging population and the prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD) create a growing need for oxygen therapy, driving the demand for oxygen concentrators. Secondly, advancements in technology have led to the development of more efficient, portable, and user-friendly oxygen concentrators, enhancing patient comfort and convenience. Thirdly, increased awareness about the benefits of oxygen therapy and the availability of reimbursement options from public and private healthcare insurance providers contribute to the market's expansion. The Canadian market is highly regulated, with strict quality and safety standards to ensure patient safety and product efficacy. The market is competitive, with both domestic and international manufacturers offering a range of oxygen concentrator options. Additionally, the COVID-19 pandemic has increased the demand for oxygen concentrators, particularly during times of healthcare crises. Overall, the Canadian oxygen concentrator market presents opportunities for manufacturers and suppliers to meet the growing demand for oxygen therapy and provide innovative solutions to improve the quality of life for individuals with respiratory conditions. According to the report titled, “Canada Oxygen Concentrator Market Overview, 2027”, published by Bonafide Research the market in the country is expected to grow with a CAGR of XX% in the year of 2021 and is expected to reach the value of around USD XX Billion by the year of 2027. Bonafide Research categorizes the market to forecast the revenues and analyse the trends in each of the following segments: based on product type (Portable, Stationary, & Oxygen Cylinders), based on technology (Continuous Flow & Pulse Flow) based on end users (Home Care & Non-Home Care), based on region, countries & major companies. High demand for medical oxygen concentrators is mainly attributed to infections and chronic diseases affecting the respiratory health of individuals. The major use of oxygen was prominent with the incline in the respiratory issues caused by increasing pollution in Canada. The market is driven by the increase in COPD illnesses which stands for Chronic Obstructive Pulmonary Disease which directly affects the respiratory system. The rising incidents of Asthma in the population owing to increase in air pollution both in the social and inhome environment is boosting the market ahead. The Oxygen cylinder segment in Canada has the majority of the market share, as it is the traditional means of providing oxygen to the required consumer. But with the recent development of portable oxygen concentrators have shifted the behaviour of the consumer to this segment has provided it with a significant boost in terms of growth rate. This high rate of adoption of portable solutions is due to the reduced weight, longer battery life, miniaturization and integration of membrane technologies in the products. On the basis of the technology used the market is divided into Continuous flow and pulse flow. The continuous flow system as the name suggests provide with constant flow of oxygen, this type of technology is used for patients who are not able to voluntarily conduct respiration. On the other hand the pulse flow technology is used as a support to patients who have a little problem breathing, this technology adapts to the breathing behaviour of the user and hence is preferred in most of the cases by the consumer. Changing lifestyle of the people in the country along with the higher consumption of tobacco smoking is another factor which will bolster the market in a positive manner. Additionally, the rising advent of oxygen therapy which includes treating the consumer with controlled amount of pure oxygen in order to gain health benefits and counter balance the mal effect of polluted environment will increase the frequency of consumption and provide the market with bigger opportunities and overall growth. The technological advancement in the industry has successfully subsided the side effects like headache, nose bleed and tiredness when using these products. This has decreased the reluctance of consumer for using oxygen concentrators and driven the market towards growth. The Favourable Government policies have supported the market in a positive way but on the other hand the everchanging and stringent rules and regulations for manufacturing have created the need to adopt efficiently and has acted as an obstacle to growth. The high cost of these products and various maintenance requirements of such products have created a negative impact on the market. along with this the lack of local player and chepear alternative have also contributed to a non-ideal market situation. Some of the requirements of these products like constant electricity source have also obstructed the growth of portable oxygen concentrators in Canada. The high disparity between the demand and supply of these products have caused issues with the aspect of pricing which is not an ideal environment for the consumer of the country. COVID-19 Impact The pandemic was a worldwide phenomenon and affected almost all of the industrial verticals across the globe. The Canada medical oxygen concentrator market was no exception. The market was majorly affected in a positive manner as the SarsCovid-19 directly and adversely affected the respiratory system. The need for oxygen drastically increased with the spreading of the virus, so much so that the demand was not being met by the manufacturers. Many new entrants came into the market as they realised the opportunity to fulfil this gap in demand and supply can be lucrative in terms of revenue. Considered in the report • Geography: Canada • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027 Aspects covered in the report • Market Size by Value for the period (2016-2027F) • Market Share by Product • Portable Oxygen Concentrator • Stationary Oxygen Concentrator • Oxygen Cylinders • Market Share by Technology • Continuous Flow • Pulse Flow • Market Share by End User • Home Care • Non-Home Care • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Medical Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry."
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