A new market study, titled “Portable Oxygen Concentrator Market – Forecasts from 2017 to 2022”, has been featured on WiseGuyReports.
Global Portable Oxygen Concentrator market is projected to witness the growth at a CAGR of 11.56% to reach US$1,721 million by 2022, from US$996 million in 2017. Oxygen is a chemical component as well and is exceptionally receptive non-metal and oxidizing specialists that can oxide with numerous components and compounds. Oxygen concentrator incorporates nasal cannula which fits into the nose and oxygen can be provided through it. An oxygen concentrator is generally utilized as a part of homecare settings, surgical focuses, clinics, ambulances and with long therapy treatment patients.
Rising incidence of chronic diseases such as obesity and asthma is significantly driving the demand for portable oxygen concentrators worldwide. Growing global aging population is also boosting the demand for home portable oxygen concentrators across the globe. Moreover, increasing adoption of advanced technologies and rising government expenditure in the healthcare sector are further fuelling the global portable oxygen concentrator market growth. Growing awareness regarding good health and fitness will also bolster the global demand for portable oxygen generation devices. However, high cost of the product and stringent regulations regarding medical devices can impede the growth of the global portable oxygen concentrator market.
By End User
By end user, homecare settings market will grow at the highest CAGR during the forecast period owing to rising geriatric population and rising prevalence of COPD (chronic obstructive pulmonary diseases). Growing global medical tourism industry and favorable regulations regarding the use of POCs in flights will propel the growth of POC market for air ambulance.
Geographically, North America held the largest market share in 2016 and will continue to dominate the global POC market till 2022 by growing at the highest CAGR during the forecast period. This growth is majorly attributed to high prevalence of COPD and ageing population base in the region along with the presence of large number of global POC manufacturers in countries like the U.S. and Canada. Moreover, growing awareness about portable consumer oxygen concentrators is pressurizing manufacturers to develop portable, lighter, and cheaper equipment that can be used while travelling abroad. European Portable Oxygen Concentrator market will also witness a significant growth between 2017 and 2022 owing to rising levels of smoking in the region leading to rising incidence of respiratory diseases. APAC is the emerging market for POC manufacturers owing to increasing preference for home treatment for growing aging population in the region. High level of pollution in countries such as China and India due to rapid industrialization and urbanization is leading to an increase in respiratory disorders among people, thereby positively impacting the growth of APAC Portable Oxygen Concentrator market. This growth will be complemented by rising e-commerce industry in the region, making it easier for suppliers to reach the potential market.
Prominent key market players in Global Portable Oxygen Concentrator market include Precision Medical, Boost Oxygen, Chart Industries, Invacare, Inogen, and Drive Devilbiss Healthcare among others. Major players are engaged in M&A so as to acquire smaller regional market players and expand their footprints globally. In February 2016, ResMed, the world’s leading innovator in sleep-disordered breathing and respiratory care, acquired Inova Labs, Inc., the manufacturer of innovative oxygen therapy products, to expand its offerings and solutions in order to address a large number of COPD patients across the globe.
In this report, Global Portable Oxygen Concentrator market is segmented by end user, by product, and by geography:
By End User
Continuous Flow Portable Oxygen Concentrator
Pulse Flow Portable Oxygen Concentrator
Europe Middle East and Africa
Middle East and Africa
Key questions answered by the report
What will be the Portable Oxygen Concentrator market size from 2017 to 2022?
How are the major drivers and restraints affecting the Portable Oxygen Concentrator market growth and the opportunities which exist for key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behavior
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth
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