U.S & Asia Pacific Portable Medical Oxygen Concentrators (PMOC) Market
Portable Oxygen Concentrators is a type of device which helps in providing oxygen to patients as a therapy at a relatively higher concentration in comparison to atmospheric air and maintains a steady oxygen level. These concentrators are especially useful to those who are suffering with chronic respiratory problems as in chronic obstructive pulmonary disease (COPD). It acts as a separator of nitrogen and the air present in the oxygen from the environment, by removing the nitrogen from the oxygen and giving oxygen of the purest form to the patients through masks.
U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market – Impact of the Coronavirus (COVID-19) Pandemic
On 31ST December, 2019, in Wuhan, China, coronavirus outbreak was first reported. On 11TH March, 2020 WHO declared COVID-19 as pandemic. The World Health Organization reported in the Coronavirus Weekly Epidemiology Updated that, more than 631 million cases were confirmed of Coronavirus & 6.58 million cases of death were reported until 14TH November, 2022 worldwide.
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Impact of COVID-19 on Demand and Supply of Portable Medical Oxygen Concentrators
Globally, many countries suffered huge losses in all their business sectors which included private sectors also. The financial condition got a huge setback due to the coronavirus pandemic and the lockdown in those regions. The whole distribution network of the sector dealing in healthcare products was affected by the pandemic owing to stringent lockdown in the regions. Globally, all major economies got affected badly mainly in three ways: 1.) the demand and the production were affected directly; 2.) interruption in the supply chain and distribution network; 3.) financial market and the companies were also impacted ruthlessly. Countries like Singapore, Thailand, Indonesia, confronted difficulties in transporting and distributing of healthcare related products.
The pandemic and its fast spread have resulted in the rise of need for medical oxygen concentrators. Due to the coronavirus the lungs gets affected and when the severity is high, the level of oxygen drops drastically. It is a prolonged case of bilateral pneumonia linked with COVID-19 and thus the need of additional amount of oxygen rises. In order to see a rise in the level of oxygen, oxygen concentrators, liquid oxygen and also other apparatuses were used. Oxygen therapy is given with oxygen concentrators in case of liquid oxygen deficiency, which function 24 x 7.
The PMOC market in U.S & Asia Pacific is anticipated to be priced at US$ 884.58 Mn in the year 2022 and it is likely to show a CAGR of 7.4% in the predicted period of 2022 to 2030.
U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market– Drivers
The rise in incidence of respiratory disorder is anticipated to increase the growth of the market. For example, as per the data circulated in AME Publishing Company in the month of April 2021, globally, the general occurrence of COPD is found to be more noticeable in people aged more than 40 years and it was 10% of population in Japan in the year 2020.
Major companies who are functioning within the market have decided to take up strategies that are based on organic strategies of growth like launching of new product which is anticipated to fuel the market of PMOC growth in the predicted period in U.S. & Asia Pacific. In this case, OMRON Healthcare, a U.S. & Asia Pacific frontrunner in the monitoring of blood pressure at home and other related treatment for CVD management (cardiovascular management) of the diseases, had pronounced the latest development in the oxygen therapy in association with the launch of portable oxygen concentrator. This oxygen concentrator which is based on medical molecular sieve intends to provide non-stop supply of pure oxygen of high purity concentration output. The oxygen concentrator product will be helping the patients at home with Chronic Obstructive Pulmonary Disease and other respiratory related diseases.
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U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market-Restraint
The portable product medical oxygen system is anticipated to hinder the market growth in U.S. & Asia Pacific portable oxygen concentrator. So, the increase in recalling of the product may hamper the product capability of the manufacturer/producer and the distribution network. For example, the U.S FDA in March 25, 2022, declared remembering of CAIRE FreeStyle Comfort Portable Oxygen Concentrator with autoSAT, autoDOSE and UltraSense model. As per reason given by the manufacturer in U.S., the device did not passed the clearance of distribution. The firm that recalled first contacted the end users or the customers through voicemail and email on 25TH March, 2022. In the email, it was stated that to the consignee that the two affected shipped units could not be sold in U.S. and its territories owing to the approval of FDA.
U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market– Regional Analysis
If we consider regionally, U.S. and Asia Pacific are the main divisions of U.S. & Asia Pacific PMOC Market.
The U.S.is anticipated being the most profitable economy in the U.S. & Asia Pacific PMOC in the predicted period owing to many factors like the increase in occurrence of COPD in U.S. For example, as per the National Heart, Lung and Blood Institute 2022, in U.S., over 15 million people get affected by COPD. Furthermore, as per the CDC (Centers for Disease Control and Prevention), chronic respiratory diseases rank fourth, causing death in U.S.
U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market – Competitive Landscape
The main companies functioning in the market for PMOC market in U.S. & Asia Pacific include Chart industries, OxyGo HQ Florida, LLC, Koninklijke Philips N.V., ResMed Inc., Precision Medical, Inc, O2 CONCEPTS, LLC, GCE Group, Nidek Medical Product, Besco Medical Limited, CAIRE INC., BPL Medical Technologies, CONTEC MEDICAL SYSTEMS CO.,LTD., NAREENA LIFESCIENCES PRIVATE LIMITED, Drive DeVilbiss Healthcare llc.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Market Opportunities
- Impact Analysis
- Porter’s Analysis
- Industry Trends
- Key Highlights
- Reimbursement Scenario
- Regulatory Scenario
- Product Launch and Approvals
- Acquisition and Collaboration Scenario
- Market Dynamics
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