By product, the portable homecare oxygen concentrators segment generated significant growth opportunities for market players in 2021. Factors such as ease of travel, compactness, and long-lasting battery life are increasing their adoption among end-users. Also, the growing demand for flexible, compact, and user-friendly products are further accelerating the growth of the market in the segment.
By region, the market observed significant growth in North America in 2021. The availability of advanced healthcare facilities, rising healthcare spending, and the presence of government bodies such as Medicaid that help with medical costs for individuals with limited income and resources are driving the growth of the regional market. The high prevalence of respiratory diseases in the US and Canada is also contributing to the growth of the homecare oxygen concentrators market in North America.
Homecare Oxygen Concentrators Market: Major Growth Drivers
The following factors are expected to drive the growth of the market during the forecast period:
- Increasing prevalence of respiratory diseases
- Rise in geriatric population
The prevalence of various respiratory diseases is increasing significantly across the globe. This can be attributed to a rise in risk factors such as allergy, pollution, and smoking. In addition, many individuals face shortness of breath while performing non-strenuous activities such as walking up a flight of stairs, playing golf, or walking uphill. In addition, the rise in the aging population, especially in countries such as Japan, the UK, the US, and Germany has further increased the prevalence of various respiratory diseases such as tuberculosis, COPD, and bronchial asthma. All these factors have necessitated the need for advanced medical technologies such as homecare oxygen concentrators, thereby driving the growth of the market.
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Homecare Oxygen Concentrators Market: Key Vendor Offerings
- Besco Medical Ltd.: The company offers homecare oxygen concentrator products such as BES-OC07, BES-OC16, and BES-OC17.
- Drive DeVilbiss Healthcare Ltd.: The company offers homecare oxygen concentrator products such as iGo2, Compact 525, and Compact 1025.
- GCE Holding AB: The company offers homecare oxygen concentrator products such as Zen-O, Zen-O lite, and M50.
Reasons to Buy Homecare Oxygen Concentrators Market Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist homecare oxygen concentrators market growth during the next five years
- Estimation of the homecare oxygen concentrators market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the homecare oxygen concentrators market across North America, Europe, Asia, and ROW
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of homecare oxygen concentrators market vendors
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Related Reports:
Homecare Oxygen Concentrators Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15% |
Market growth 2021-2025 |
USD 1.21 billion |
Market structure |
Fragmented |
YoY growth (%) |
14.83 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, China, UK, India, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Besco Medical Ltd., Drive DeVilbiss Healthcare Ltd., GCE Holding AB, Inogen Inc., Koninklijke Philips NV, Nidek Medical Products Inc., Precision Medical Inc., ResMed Inc., and Teijin Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces analysis 2020 & 2025
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Portable - Market size and forecast 2020-2025
- Stationary - Market size and forecast 2020-2025
- Market opportunity by Product
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- Asia - Market size and forecast 2020-2025
- ROW - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Besco Medical Ltd.
- Drive DeVilbiss Healthcare Ltd.
- GCE Holding AB
- Inogen Inc.
- Koninklijke Philips NV
- Nidek Medical Products Inc.
- Precision Medical Inc.
- ResMed Inc.
- Teijin Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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