ALBANY, New York, Feb. 17, 2020 /PRNewswire/ -- Multiple factors are set to drive the global Portable Oxygen Concentrators Market to a higher worth of USD 3.1 bn. by the end of 2026 from around USD 1.0 bn. in 2017. This translates to an impressive Compound Annual Growth Rate (CAGR) of 9.1% between 2018 and 2026, states Transparency Market Research.
"The growth of global portable oxygen concentrators market would be sustained over the assessment period by technological advancement, growing demand for home-based care, and increase in incidence of Chronic Obstructive Pulmonary Disease. The latter is witnessing a surge owing to deteriorating air quality index across global cities and growing numbers of smokers." as per Transparency Market Research
Key Findings of the Portable Oxygen Concentrators Market Study
Pulse Flow product type to be a lucrative segment for global portable oxygen concentrators market owing to longer battery life, lower cost, and higher energy efficiency; patients favor its leaner unit size
Basis indication, COPD to dominate the segment owing to growing prevalence – a result of increase in pollution level and unhealthy lifestyle choices such as smoking
The homecare end-user segment to contribute the most, followed by travel segment owing to easy handling and use of products
Explore 188 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Portable Oxygen Concentrators market by Product - Pulse Flow, Continuous Flow; Indication - Chronic Obstructive Pulmonary Disease (COPD), Asthma, Sleep Apnea; End user - Homecare, Travel, Hospital, Others.
Growing geriatric population and incidence of diseases related to the respiratory system are paving way for higher demand of portable oxygen concentrators market over the forecast period, states Transparency Market Research. Factors underlying growth in the market over this period include the following:
In 2018, number of people aged 65 and above surpassed that of people aged five and below for the first time in human history; by 2050, one in every six people across the globe will fall in this age group for geriatrics – one in every four in North America and Europe
This segment of population stated above is susceptible to respiratory issues and disorders, leading to growth in demand for portable oxygen concentrators market over the assessment period
In 2014, 20% (or over 1 billion) people on a global level smoked and the number is set to increase with lifestyle getting hectic and stressful
Deterioration of air quality due to burning of fossil fuels at a massive scale to increase the burden of COPD over the coming years
Key Impediments for Portable Oxygen Concentrators Market Players
The upward growing trajectory for 2018 to 2026 for the global portable oxygen concentrators market will only be restrained to a certain extent by low awareness levels, particularly in developing nations, and low market penetration in the same regions.
However, players such as Royal Phillips are taking on the task of increasing awareness with determination. It recently – in the year of 2017 - partnered with Russell Winwood to achieve the goal. The route taken involved motivational content, disseminated to empower and educate patients by engaging them with the campaign. Such initiatives will not just improve awareness but also market penetration, counteracting the restrictions imposed by these factors.
North America will lead the global portable oxygen concentrators market over the forecast period owing to high technological adoption, high level of disposable income, and a rapidly ageing population
The region that will witness a significant growth rate over the forecast period is Asia Pacific (APAC) owing to increasing number of smokers, rapid industrialization causing higher pollution levels, and a widening base of tobacco consumers; governments in the region are trying to improve healthcare outcomes by increasing expenditure
Analyze Portable Oxygen Concentrators market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Key players that mark the global portable oxygen concentrators market include ResMed, Invacare Corporation, Medical Depot, Inc. dba DeVilbiss Healthcare, Precision Medical, Inc., O2 Concepts, LLC., GCE Group, CAIRE Inc. (Chart Industries), Inogen, Besco Medical Co., LTD, and Koninklijke Philips N.V. These are profiled comprehensively by Transparency Market Research, which states that focus for most players would be innovation over the assessment period. As solutions that hit the market cut the mark, claim over market share would get stronger, consolidating position of players in market.
Transparency Market Research has segmented the Portable Oxygen Concentrators market based on product, indication, end user, and region.
Chronic Obstructive Pulmonary Disease (COPD)
Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Pharmaceutical industry:
Cystic Fibrosis (CF) Therapeutics Market - The market for CF Therapeutics is projected to show a promising and lucrative growth in the next few years due to continued R&D activities in this field. At present, there are more than 30-40 drugs (including bronchodilators, antibiotics, NSAIDs, steroids and others) available in the market. Further owing to continued extensive research and development activities, a variety of medicines are expected to launch in the market in future period.
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market - The chronic obstructive pulmonary disease treatment market is projected to be valued at ~US$ 26.2 billion in the year 2027. The high prevalence of chronic obstructive pulmonary disease (COPD) and the need for improved treatment options are catalyzing market growth.
Asthma Treatment Market - The global asthma treatment market will rise from a value of ~US$ 25.6 Bn in 2019 to ~US$ 30.5 Bn by 2027, and it is anticipated that an increase in the number of FDA-approved products in parallel to the increasing awareness among asthma patients regarding quality care will drive the steady odyssey of the market.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."