PUNE, India, May 21, 2020 /PRNewswire/ -- The recent research report on the Global Portable Oxygen Kit Market by Research Dive deliberates the impact of COVID-19 pandemic on present and future market growth. This report is a complete research formulated by evaluating the major regional market circumstances, key driving factors, and size & scope of the market during the COVID-19 crisis.
Highlights of the Report
The sudden outburst of COVID-19 pandemic has impacted the global portable oxygen kit market in a positive manner.
As per the report, the global portable oxygen kit market was valued at $1,372.6 million in 2018 and is anticipated to hit $2,871.3 million by growing at a CAGR of 9.9% by 2026 (After COVID-19).
The size of the market in the current scenario has reached $1,655.6 million due to the increased use of high-quality portable oxygen kits in hospitals, ambulances, and home first-aid kits during this pandemic situation.
Factors Influencing the Market amidst Covid-19 Pandemic
The global market is likely to undergo significant growth during the COVID-19 crisis due to the growing necessity and demand for oxygen kits for treating patients all over the world. Moreover, the incorporation of advanced technologies in the portable oxygen kits is expected to fuel the market growth, post-COVID crisis.
Current Market Transformation Due to Covid-19:
During this pandemic crisis, some of the major players in this market are providing portable oxygen kits at reduced prices for being trustworthy in customers' viewpoint. For instance, branded portable kits such as Respironics (Philips), Nidek, and Devilbiss are available at reasonable costs ranging from $39.0 to $266.0 during this COVID-19 pandemic situation. Such activities are expected to unlock significant opportunities for the player after the end of the crisis period.
Additionally, government bodies worldwide are helping manufacturers for the production of oxygen kits. For example, the Drug Controller General of India (DGCI) has permitted oxygen kit manufacturers for the production of medical oxygen. Furthermore, the UPPCB (Uttar Pradesh Pollution Control Board) has also relaxed the strict standards for the manufactures of oxygen kits during this pandemic period.
Future scope of the market:
According to the report the global portable oxygen kit market is estimated to experience significant growth after the coronavirus pandemic. New entrants and some of the top players including Invacare Corporation., Teijin Aramid B.V, O2 CONCEPTS, LLC., Koninklijke Philips N.V., Inogen, Inc., DeVilbiss Healthcare LLC, Worthington Industries, Inova Labs Inc., Nidek Medical Products, Inc., and Chart Industries, Inc. are likely to have rewarding opportunities for market growth in coming years.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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