NEW YORK, Dec. 9, 2015 /PRNewswire/ -- Kalorama estimates the U.S. market for home oxygen concentrators will reach revenues of $170.0 million in 2015. The healthcare market research firm Kalorama Information said that the aging population will drive usage and competition is expected to drive innovation, resulting in lighter units and lower prices. The firm estimated the home oxygen market in a 2015 study, The Market for Home Care Products, 8th Edition.
Invacare, Philips, DeVilbiss, AirSep, OxLife, Praxair, Inogen and others are among the top competitors in this market
"This was due to new competitors entering the market and demand for the lighter technology by consumers," said Bruce Carlson, Publisher of Kalorama Information. "Also, the aging population wants to remain as active as possible."
Kalorama says that although tightened reimbursement policies resulted in a 45% reimbursement cut on all oxygen CMS competitive bid products taking effect in July 2013, consumers have been opting for paying out of pocket for these newer, more portable concentrators.
Reimbursement pricing pressure will continue to cause industry issues, as Round 1 CMS competitive bidding prices took effect in January 2011 and Round 2 rates took effect in mid-2013.
Invacare remained the largest competitor. In 2009, Invacare launched the economical Perfecto2 V Concentrator, a stationary model that is energy-efficient and quiet; the company launched the SOLO2 Transportable Concentrator and the XPO2 Portable Concentrator in 2009 and 2008, respectively. These products cater to oxygen users, who are active and ambulatory, allowing users to work, travel and participate in activities that keep them away from home for extended periods of time. The XPO2 concentrator is also approved for use on board an aircraft.
Philips, which acquired its oxygen concentrator line with its $5.1 billion buyout of Respironics in March 2008, was the number two competitor. Philips benefitted from its growth in the home health care products business and strong medical products reputation due to its acquisition of Respironics, but reimbursement has continued to be an issue.
The Market for Home Care Products, 8th Edition (Wheelchairs, Walkers, Other Ambulatory Aids, Oxygen Products, Infusion Products, Home Ventilators, Incontinence Supplies, Defibrillators, Ostomy Products, Bathroom Safety Supplies and General Supplies) can be found at Kalorama Information: http://www.kaloramainformation.com/Home-Care-Products-8653996/.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
Contact:
Bruce Carlson
(212) 807-2622
[email protected]
www.KaloramaInformation.com
Logo - http://photos.prnewswire.com/prnh/20150831/262422LOGO
SOURCE Kalorama Information
Related Links
http://www.kaloramainformation.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article