Global Portable Oxygen Concentrator Market is expected to grow over 10.6% CAGR by 2027 owing to Increase in Environmental Pollution and Various Respiratory Diseases Associated with It: Says Absolute Market Insights
In terms of revenue, global portable oxygen concentrator market was valued at US$ 453.06 million in 2018 and is anticipated to reach more than US$ 1000 million by 2027, growing at a CAGR of over 10.6% over the forecast period. Rapid industrial growth and continuous increase in the number of vehicles on road are catalyzing environmental air pollution. According to the 2018, World Health Organization (WHO) report stated that, about 9 out of 10 individuals around the globe are inhaling contaminated air, causing various respiratory disorders including lung cancer, COPD and asthma amongst others. Proliferated number of patients having respiratory disease, is supplementing the demand for portable oxygen concentrator market. Recent advances in technology have allowed for greater portability in POCs. The major areas in which the manufacturers are innovating in the technology are its compatibility, ease of use, and noise levels. Koninklijke Philips N.V., a multinational organization, provides SimplyGO, a light weight portable oxygen concentrator compatible in offering both pulse flow and continuous flow dose delivery, through a single device. Simultaneously, participants are also largely focusing on catering to the diverse portability needs of the patients including size, weight and other aesthetics, thereby ensuring extreme convenience for the patients. Greater mobility of the device allows patients to practice their routine activity with increased efficiency, and is contributing towards the increased demand in portable oxygen concentrator market.
Alarming increase in the number of people suffering from respiratory disorders owing to environmental pollution is observed as a significant factor stimulating the market growth. A relevant instance of the same is observed across both developed and developing countries. Growing adoption of vehicles, which are largely responsible for the emission of particulate matter in air, is resulting in increased number of patients with breathing disorder. The constant shift in lifestyle coupled with growing urbanization is estimated to influence the Global Portable Oxygen Concentrator Market growth over the forecast period.
Global Portable Oxygen Concentrator Market, By Region (2018)
Key Findings of the Report:
- Pulse flow segment is expected to grow at the highest CAGR over the forecast period. Factors like greater compatibility and increased efficiencies are expected to positively reinforce growth in pulse flow portable oxygen concentrator market.
- Homecare setting holds the largest market share in terms of revenue and is also estimated to continue dominating the market over the forecast period
- North America portable oxygen concentrator market held the largest market share in 2018. However, Asia Pacific region is expected to register higher growth in the market over the forecast period, owing to rapid development in healthcare infrastructure coupled along with favorable changes in the insurance systems.
- Prominent market players operating in this market include O2 concepts LLC, Koninklijke Philips N.V., Inogen Inc., Nidek Medical India, Oxus America and CAIRE Inc., amongst others.
By Flow Type
- Continuous Flow
- Pulse Flow
By Delivery Method
- Fixed Minute Volume
- Fixed Bolus Volume
By End User
- Homecare Settings
- Ambulance
- Hospitals and Ambulatory Clinics
By Region:
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America