A research study titled, “Portable Oxygen Concentrators Market by product and end user – global industry analysis and forecast to 2025”, published by crystal market research.
Market Highlights:
The global Portable Oxygen Concentrators Market is expected to be around $1 billion by 2025. Some of the major factors driving the market growth are high prevalence of severe obstructive pulmonary diseases, favorable government initiatives and convenience of usage. Increasing geriatric population is also expected to favorably contribute to the growth of this market during the forecast period as older adults are more susceptible to respiratory infections such as pulmonary hypertension, COPD and asthma. According to the 2015 World Aging Population report by the UN, between 2015 and 2030, the global population aged 60 years and over is expected to grow by 56% from 901 million to 1.4 billion. This number is projected to rise up to 2.1 billion by 2050. With such significant increase in older population, the demand for portable oxygen concentrators is expected to significantly increase during the forecast period. However, factors such as stringent approval process for portable oxygen concentrators laid by agencies such as FDA can hamper the market growth during the forecast period.
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Portable Oxygen Concentrators Market Segmentation:
Portable Oxygen Concentrators Market, By Product, Estimates and Forecast, 2016-2025 ($Million):
Pulse Flow Portable Oxygen Concentrators
Continuous Flow Portable Oxygen Concentrators
Portable Oxygen Concentrators Market, By End User, Estimates and Forecast, 2016-2025 ($Million):
Homecare
Travel Agents
HospitalsAmbulatory Surgical Centers
Portable Oxygen Concentrators Market, By Region, Estimates and Forecast, 2016-2025 ($Million):
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
Rest of the World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)
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Competitive Insights:
Some of the key players operating in this market are, Precision Medical, Inc., Invacare Corporation, Medical Depot, Inc. dba Drive DeVilbiss Healthcare, Inogen, Inc., Chart Industries, Inc., Koninklijke Philips N.V., O2 Concepts, LLC., GCE Group, Nidek Medical Products, Inc., Inova Labs, Inc. (a part of ResMed Inc.), Teijin Limited, Besco Medical Co., LTD. and Oxus America.
Regional Outlook and Trend Analysis:
North America dominated the global portable oxygen concentrators market in 2016 due to high prevalence chronic respiratory disorders and technological advancements resulting in development and commercialization of advanced oxygen concentrator systems. Asia-Pacific portable oxygen concentrators market is expected to witness fastest growth over the forecast period owing to increasing prevalence of geriatric population in the region and increased disposable income in emerging countries such as China and India making homecare oxygen concentrators affordable for the patients.
Market Opportunities:
Technological advancements in treating COPD and asthma will boost the growth of global portable oxygen concentrators market in coming years. Development of easy to use oxygen concentrators that are convenient to be carried around will favorably increase the demand for portable concentrators over the forecast period.
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