The global portable oxygen concentrators market size is projected to grow from USD 2.2 billion in 2022 to USD 4.5 billion by 2030, exhibiting a CAGR of 10.50% during the forecast period.
Chicago, March 01, 2023 (GLOBE NEWSWIRE) -- Markets N Research has recently released expansive research on Global Portable Oxygen Concentrators Market with 220+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today's rapidly changing business environment.
As per the report titled "Portable oxygen concentrator Market Size, Share & COVID-19 Impact Analysis, By Product (Pulse Flow and Continuous Flow), By Indication (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Sleep Apnea and Others), By End-Use (Homecare, Travel, Hospital and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 2.2 billion and USD 4.5 billion in 2030. The market is expected to exhibit a CAGR of 10.50% during the forecast period.
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Portable Oxygen Concentrators Market Analysis:
One of the main factors fueling the market's expansion is the rising frequency of respiratory illnesses, including sleep apnea and asthma. Additionally, the aging population, which is more prone to certain illnesses, and the increased need for convenient portable devices drive the market. Following this, the demand for POCs in healthcare facilities has significantly increased as the coronavirus illness (COVID-19) pandemic spreads across the globe. These devices are necessary to maintain a sufficient oxygen concentration in patients with pre-existing asthma, chronic obstructive pulmonary disease (COPD), and other lung conditions.
- June 2022: The LifeStyle portable oxygen concentrator from Carire has significantly raised the standard of living for oxygen users worldwide.
- April 2022: The ARYA Portable Oxygen Concentrator was introduced in the U.S. by ARYA BioMed Corp. The ARYA portable oxygen concentrator is exceptionally compact, has a powerful battery system, and charges quickly.
|Forecast Period 2023 to 2030 CAGR||10.50 %|
|2030 Value Projection||4.5 billion|
|Market Size in 2022||2.2 billion|
|Historical Data for||2016 - 2021|
|Segments covered||By Product, By Indication, By End-Use and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
List Of Key Companies Profiled:
- Koninklijke Philips N.V.
- Inogen, Inc
- Chart Industries, Inc.
- Resmed, Inc.
- Invacare Corporation
- Drive Devilbiss Healthcare LLC
- Precision Medical, Inc.
- Besco Medical Co.Ltd.
- Oxus America, Inc.
- Foshan KeyhubElectronic Industries Co.Ltd
- O2 Concepts LLC
- GCE Group
Precision Medical Unveiled Their Brand-New Portable Oxygen Concentrator
In October 2019, Precision Medical introduced The Live Active Five, a new portable oxygen concentrator on the market and created to help people with respiratory conditions like COPD. The Live Active Five has a li-ion battery, which makes it simple to use.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the portable oxygen concentrators market plan acquisitions to improve their brand recognition globally. For instance, in 2019, the manufacturer of non-intrusive portable ventilation systems, New Aera, Inc., was established by Inogen. The business has chosen to use TAV technology in its oxygen concentrators to preserve its market position with a cutting-edge product line.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- MNR research methodology
- Global Market for Portable Oxygen Concentrators is Being Augmented by COPD Incidence Rise
Emphysema, chronic bronchitis, refractory asthma, and other progressive lung diseases are referred to as chronic obstructive pulmonary disease (COPD). An ongoing oxygen supply is necessary for patients with severe COPD. However, these could be the first indications of COPD. Symptoms like increased breathlessness and coughing are frequently disregarded as a normal part of aging. Chronic obstructive pulmonary disease (COPD), the third-leading cause of death globally in 2019, affected more than 65 million people, according to the World Health Organization (WHO).
- Global Population Aging to Increase Demand for Portable Oxygen Concentrators
According to the United Nations, the senior population is anticipated to grow from 962 million in 2017 to 2.1 billion by 2050 and 3.1 billion by 2100. Globally, the elderly population is growing more quickly than the young. Roughly 13% (962 million) of the world's population in 2017 was elderly, and their number has been rising at a rate of about 3% annually. In addition, it is predicted that the number of people 80 years or older will treble by 2050, going from 137 million in 2017 to 425 million. At the moment, Europe has a sizeable elderly population. Family help from older relatives is diminishing, and official long-term caregiving services are expensive. The need for portable devices, such as portable oxygen concentrators, is projected to increase due to these structural changes in society.
- Reimbursement requirements and strict government regulations to restrict market expansion
The greatest barrier to the widespread usage of portable gas extractors is their high price. POC acceptability is limited in emerging economies as a result of a lack of available cash and a greater product price than in developed countries. Furthermore, the president's stringent limitations and reimbursement policies impede the market expansion for portable gas extractors. The FDA has altered the procedure for approving medical devices in several countries, preventing the sector from growing.
- High Costs Could Limit Market Growth
The main issue preventing market expansion is the high cost of portable oxygen concentrators. Due to price increases brought on by technological advancements and new features, the market for portable oxygen concentrators is now stagnant. Due to high cost, these oxygen concentrators may not be accessible to many patients. This may lead them to choose to use oxygen concentrators that are rented. Renting prevents people from purchasing freshly launched portable oxygen concentrators. Sales of advanced products may suffer as a result, which could lead to losses for the manufacturers. Technology advancements like longer battery life, smaller size, and the ability to purify and deliver oxygen impact the products' price.
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Global Portable Oxygen Concentrators Market Segmentations:
Global Portable Oxygen Concentrators Market By Product:
- Pulse Flow
- Continuous Flow
Global Portable Oxygen Concentrators Market By Indication:
- Chronic Obstructive Pulmonary Disease (COPD)
- Sleep Apnea
Global Portable Oxygen Concentrators Market By End-Use:
Global Portable Oxygen Concentrators Market Regional Insights:
North America is projected to hold the largest share of the portable oxygen concentrators market over the forecast period due to the region's advanced healthcare system, growing knowledge of cutting-edge treatment choices, and increased prevalence of lung disorders, COPD, and other conditions that make individuals rely on portable gas condensers as their primary supply of oxygen. Patients can now travel without experiencing any inconvenience because of the development of small, portable air condensers that are also economical.
Further Report Findings:
- The market in North America is expected to gain a huge portion of the global portable oxygen concentrators market share in the coming years Living and health standards have significantly increased in the region's more developed economies.
- Throughout the projection period, regional market expansion is predicted to be supported by factors like rising healthcare expenditures, longer life expectancies, and public awareness of new technology.
- In the Asia Pacific, the growth in this region is primarily driven by the rapidly expanding elderly population and a surge in lung diseases.
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Key questions answered in this report:
- What is the size of the Portable Oxygen Concentrators market and what is its expected growth rate?
- What are the primary driving factors that push the Portable Oxygen Concentrators market forward?
- What are the Portable Oxygen Concentrators Industry's top companies?
- What are the different categories that the Portable Oxygen Concentrators Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Portable Oxygen Concentrators market sample report and company profiles?
- Market Share, Size & Forecast by Revenue | 2023?2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis By Product, By Indication, By End-Use and By Geography
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Portable Oxygen Concentrators Market, By Product Segment Analysis
Chapter 5: Global Portable Oxygen Concentrators Market, By Indication Segment Analysis
Chapter 6: Global Portable Oxygen Concentrators Market, By End-Use Segment Analysis
Chapter 7: Portable Oxygen Concentrators Market – Regional Analysis, 2023 – 2030
Chapter 8: Portable Oxygen Concentrators Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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Key Insights from Primary Research/Key Insights & Findings from the report:
- As per the analysis shared by our primary respondents, the Portable Oxygen Concentrators market is expected to grow annually at a CAGR of around 10.50%.
- Through primary research, it was established that the Portable Oxygen Concentrators market was valued at around USD 2.2 billion in 2022.
- The Portable Oxygen Concentrators market is segmented based on product: pulse flow and continuous flow. The continuous flow category was predicted to show maximum market share in the year 2021.
- The key factor driving the market is Global Market for Portable Oxygen Concentrators
- The “North America” region will lead the global Portable Oxygen Concentrators market during the forecast period 2022 to 2030.
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