WILMINGTON, DE / ACCESSWIRE / September 19, 2022 / Transparency Market Research Inc.- The global portable oxygen concentrators market is prognosticated to reach a value of US$ 4.0 Bn by the end of 2031, according to a research report by Transparency Market Research (TMR). Furthermore, the analysts at TMR state that the market is expected to expand at a CAGR of 10.6% during the forecast period, between 2022 and 2031.
Leading players in the portable oxygen concentrators market are focusing on research activities in order to develop technologically advanced products. Such recent developments in portable oxygen concentrators market are expected to help companies in the expansion of their product portfolios. Moreover, rising focus of several enterprises on using the strategies of acquisitions and production capabilities expansion is expected to help in the swift market development in the near future.
The understanding on the availability and advantages of different technologically advanced devices in the healthcare industry such as portable oxygen concentrators is being increasing in the recent years among chronic obstructive pulmonary disease (COPD) patients across the globe. This factor is boosting the adoption of such devices, which in turn, is showing positive impact on the sales number of the global portable oxygen concentrators market.
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Portable Oxygen Concentrators Market: Key Findings
- Over the period of past few years, there has been a surge in the cases of COPD, which includes numerous lung disorders such as chronic bronchitis, emphysema, and refractory asthma. This factor has resulted into increased requirement for constant supply of oxygen in these patients, which in turn, is leading to a largest revenue generator in portable oxygen concentrators market.
- Generally, the older population is at higher risks of different health issues. Hence, this population pool is more dependent on professional long-term caregiving services as well as latest portable devices. This factor is denotes that the future market demand for portable oxygen concentrators is expected to rise.
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Portable Oxygen Concentrators Market: Growth Boosters
- Increase in the cases of COPD globally is fueling the sales growth in the global portable oxygen concentrators market
- Rising older population globally is anticipated to boost the demand for portable oxygen concentrators during the forecast period
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Portable Oxygen Concentrators Market: Regional Analysis
- North America is anticipated to maintain its leading position in the portable oxygen concentrators market during the forecast period owing to many key factors including the presence of many well-entrenched players, surge in understanding among the regional populace on next-gen treatment techniques, and the assistance of a sturdy healthcare infrastructure in the region. This aside, a surge in the cases of asthma, COPD, and other respiratory diseases in the region is boosting the demand for portable oxygen concentrators in North America.
- The Asia Pacific market is expected to emerge as fastest growing market for portable oxygen concentrators during the forecast period. The growth of the portable oxygen concentrators market in Asia Pacific is ascribed to factors such as a rise in smoking and tobacco usage, surge in the prevalence of COPD, increase in the focus of regional governments on the health care infrastructure development, and improvement in the understanding on next-gen portable oxygen concentrators in the region.
Portable Oxygen Concentrators Market: Key Players
Some of the key players profiled in the report are:
- Inogen Inc.
- Koninklijke Philips N.V.
- Resmed Inc.
- Chart Industries, Inc.
- Drive DeVilbiss Healthcare
- Invacare Corporation
- Besco Medical Co. Ltd.
- Precision Medical Inc.
- Foshan Keyhub Electronic Industries Co. Ltd.
- Oxus America, Inc. (Oxus)
- GCE Group
- O2 Concepts LLC
Portable Oxygen Concentrators Market Segmentation
- Product
- Pulse Flow
- Continuous Flow
- Indication
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Sleep Apnea
- Others
- End-use
- Homecare
- Travel
- Hospital
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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