Oxygen concentrators underwent a profound transformation with the development of portable concentrators. When California-based Inogen launched its portable oxygen concentrators in the market, it hit the bull’s eye. Patients for long had been looking for a lighter, quieter oxygen concentrator, and Inogen offered exactly that. Today, several big brands have entered the portable oxygen concentrators market, which is pegged to surpass 1 billion dollar in revenues in the next five years.
Portable Oxygen Concentrators: Drivers
Factors responsible for growth of the oxygen concentrators market include ageing population, increase in the prevalence of COPD and respiratory disorders, and ease of use. These factors are expected to propel the global portable oxygen concentrators market in the future as well.
Demand for portable oxygen concentrators is higher in developed nations vis-à-vis developing nations. Although the rate of COPD and respiratory diseases is higher in developing nations, low per capita income, combined with tightrope healthcare budgets pose challenges to adoption. However, the presence of a strong middle class in rising economies of China, India, Brazil, South Africa and Indonesia has upped the demand for many modern healthcare devices, and it is expected that in the future, demand for portable oxygen concentrators will be strong from this segment.
Federal Aviation Administration’s decision to allow portable oxygen concentrators on flights has provided an impetus to demand. Mobility is a key concern for people who are dependent on oxygen concentrators, and with the advent of portable devices and FAA’s approval, many people have been able to live fuller lives.
Currently, the portable devices available in the market use one of the two technologies to supply oxygen to a patient. These are continuous flow and pulse dose. The key brands in the continuous flow devices are Respironics Simly Go and SeQual Eclipes. On the other hand, Inogen One G3 and Invacare XPO2 are the leading names in pulse dose oxygen concentrators. Inogen One G3 calls for a special mention as the device marked the transition from stationary oxygen concentrators to portable ones.
Between continuous flow and pulse dose, the latter is most commonly used by patients, owing to its long battery life and light weight. Demand for pulse dose oxygen concentrators is expected to remain stronger than pulse dose devices in the future as well.
Homecare services are gaining traction in developed countries, owing to advancement in homecare medical facilities. Survey after survey has shown that the elderly prefer to stay in the comfort of their homes rather than healthcare institution. Advancement in portable oxygen concentrators has meant that homecare providers are better equipped to take care of their clients. In addition to homecare services, demand for portable oxygen concentrators is also strong from hospitals and ambulatory services.
The information presented in this article is based on the report, “Portable Oxygen Concentrators Market: Global Industry Analysis and Opportunity Assessment 2015-2025.” A free sample of the report can be accessed at http://www.futuremarketinsights.com/reports/sample/rep-gb-1061
Currently, the portable oxygen concentrators market is dominated by North America and Europe. As discussed previously, emerging markets of Asia Pacific and Latin America are expected to offer growth opportunities for portable oxygen concentrators in the future.
The leading companies in the portable oxygen concentrators market include Inogen, Tejin Pharma Ltd., Koninklijke Philips N.V., Invacare Corporation, Medical Depot, Inc., O2 Concepts, Chart Industries, Inc., Oxygen to Go, Longfian Scitech Co., Ltd, Nidek medical, etc.