NEW YORK, April 27, 2023 (GLOBE NEWSWIRE) -- "Portable Oxygen Concentrators Market" is the latest report from Data Bridge Market Research, offering a comprehensive analysis of growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive landscape. Global Portable Oxygen Concentrators marketing report offers an in-depth investigation of the market driving factors, opportunities, restraints, and challenges for obtaining crucial insight of the market. Such a brilliant report has been prepared by a team of enthusiastic analysts, skilled researchers, and experienced forecasters who work meticulously for the same. The wide-ranging market research report presents intelligent solutions to versatile business challenges and instigates an effortless decision-making process. The portable Oxygen Concentrators business report serves the analysis of the global market share, segmentation, revenue growth estimation, and geographic regions of the market.
An influential Portable Oxygen Concentrators market research report is a painstaking investigation of the current scenario of the market and future estimations, which covers several market dynamics. The report is a great resource, which provides current and upcoming technical and financial details of the industry. A team of enthusiastic analysts, skilled researchers, and experienced forecasters work meticulously to generate such kind of market report. The research and analysis performed in the reliable Portable Oxygen Concentrators market report with consistent knowledge gives businesses a clear idea of what is already available, what the market expects, the competitive environment, and what can be done to outshine the competitor.
Data Bridge Market Research analyses that the portable oxygen concentrators market which is USD 1.58 billion in 2022, is expected to reach USD 3.03 billion by 2030, at a CAGR of 8.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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A portable oxygen concentrator (POC) is a medical device component that helps patients with low blood oxygen levels. It is used to provide patients with extra oxygen. The oxygen provided by portable oxygen concentrator devices is more concentrated than that found in the atmosphere. This module collects, purifies, and transmits air. The operation of an oxygen concentrator is straightforward. The portable oxygen concentrator is easy to transport, safer, smaller in size, and less expensive. It reduces the risk of a heart attack and respiratory illness, and improves mental clarity and general mood.
According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) is the third leading cause of death worldwide, accounting for approximately 3.23 million deaths. Portable oxygen concentrator sales are expected to rise at a healthy rate during the forecast period because people with this disease frequently require oxygen therapy to increase oxygen levels in their blood and improve oxygen supply to their organs.
Competitive Landscape
The research promotes high-end commercialization and profit-steering opportunities, and it takes market dimensions and volatility into account.
This section of the report also focuses on accurately decoding the competitive landscape with astute high-end identification of frontline players, complete with an in-depth analytical study of their business choices and investment discretion, to ensure thoroughly impeccable investor participation and noteworthy growth prospects.
To ensure a smooth ride and hopeful business returns despite numerous odds and unprecedented hurdles, this research has carefully gauged facts pertaining to portfolio advancements, geographical presence, and other essential market details.
Some of the major players operating in the portable oxygen concentrators market are:
- Smiths Medical, Inc. (U.S.)
- ResMed (U.S.)
- Invacare Corporation (U.S.)
- Zadro Health Solutions (U.S.)
- Koninklijke Philips N.V (Netherlands)
- Chart Industries, Inc. (U.S.)
- Nidek Medical (India)
- Inogen, Inc. (U.S.)
- Drive DeVilbiss Healthcare (U.S.)
- O2 CONCEPTS LLC., (U.S.)
- GCE Group (Sweden)
- CAIRE Inc. (U.S.)
- Precision Medical, Inc. (U.S.)
- Besco Medical Co., LTD (China)
- Foshan Keyhub Electronic Industries Co. Ltd. (China)
- Philips Respironics (U.S.)
Recent Developments
- In 2021, Servotech Power Systems announced the release of medical grade oxygen concentrators. Servotech has also expanded its network of strategic alliances by collaborating with IIT Jammu and IISER Bhopal to transfer knowledge to manufacture oxygen concentrators in India, allowing them to produce a truly indigenous product. Servotech will provide concentrators to hospitals, foundations, medical institutions, business institutions, and other key stakeholders in need of the product.
- In 2019, Inogen launched New Aera, Inc., a manufacturer of non-invasive portable ventilation systems. The company has decided to incorporate TAV technology into its oxygen concentrators in order to maintain its market position with an innovative portfolio.
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A comprehensive analysis will be provided covering the following points in the report:
- Executive Market Summary
- Scope of the Portable Oxygen Concentrators Report
- Key Findings and Recommendations
- Growth and Investment Opportunities
- Portable Oxygen Concentrators Market Value Chain/Supply Chain Analysis
- Portable Oxygen Concentrators Market Attractive Investment Proposition
- Competitive landscape and SWOT Analysis
- Portable Oxygen Concentrators Market Segmentation Outlook
- Regional Outlook
- Company Profiles of Key Players
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the Portable Oxygen Concentrators Industry over the period. Further, Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.
Opportunities:
- Rising cases of COPD and continuous new product launches
Increased adoption of portable oxygen concentrators in developing countries as a result of rising incomes and technological advancements will create opportunities for the portable oxygen concentrators market during the forecast period. Globally, the number of people suffering from chronic obstructive pulmonary disease (COPD) is rising, particularly in India and China. As a result, the global demand for portable oxygen concentrators will rise.
Furthermore, companies' increased investment in the production of continuous-flow portable oxygen concentrators and pulse flow portable oxygen concentrators will fuel market growth during the forecast period.
Key Market Segments Covered in Portable Oxygen Concentrators Industry Research
Deliver System
- Continuous Flow
- Pulse Flow
Application
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Respiratory Distress Syndrome
End-User
- Hospitals
- Homecare Settings
- Ambulatory Surgical Centers
- Travel Agents
Key Industry Drivers:
- Rising number of chronic diseases
The growing geriatric population is increasing the demand for home care settings, particularly in developed countries. The rising number of patients suffering from chronic obstructive pulmonary disease (COPD) and respiratory diseases as a result of unhealthy lifestyle choices such as marijuana, cigars, and pipes consumption among the young population and workplace exposure to hazardous substances is expected to drive demand for portable oxygen concentrators during the forecast period.
- Rise in advanced technologies
Manufacturers' use of advanced technologies in the production of oxygen concentrators is also driving market growth. Companies are focusing on developing products with higher efficacy and lower costs to meet the growing demand for portable oxygen concentrators. For instance, in June 2021, Servotech Power Systems announced the launch of a medical-grade oxygen concentrator in India and raised awareness of the product to increase sales for manufacturers by collaborating with prestigious educational institutions such as IIT Jammu.
Furthermore, investment funding and appropriate reimbursement policies implemented by the government and private institutions are propelling market growth. Strategic activities such as mergers and acquisitions among organizations encourage and create platforms for new market participants.
- Increase in the proportion of elderly people
The ageing population, which is susceptible to these ailments, as well as the rising demand for practical portable technology, are driving the market forward. The rise in everyday pollutant exposure will also have a significant impact on the compressed air extractor market. Aside from that, rising urbanisation and discretionary economic levels are driving the portable gas concentrator industry's growth. Rising healthcare spending and people's constantly changing lifestyles are two other key market factors that will propel the market for portable gas condensers even further.
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Portable Oxygen Concentrators Market Regional Analysis/Insights:
The countries covered in the portable oxygen concentrators market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the portable oxygen concentrators market because of the presence of well-developed healthcare infrastructure and favourable reimbursement policies in the region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the growing incidence of cancer such as bladder, esophagus, liver, pancreas, and others, high presence of major manufacturers across the U.S. Furthermore, technological advancements and rising foreign investment.
Critical Insights Related to the Portable Oxygen Concentrators Included in the Report:
- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Portable Oxygen Concentrators Market: Regulations
- Market Overview
- Global Portable Oxygen Concentrators Market, By Delivery System
- Global Portable Oxygen Concentrators Market, By Application
- Global Portable Oxygen Concentrators Market, By End User
- Global Portable Oxygen Concentrators Market, By Distribution Channel
- Global Portable Oxygen Concentrators Market, By Region
- Global Portable Oxygen Concentrators Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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