Brandessence Market Research has published a new report title and According to Study “The Homecare Oxygen Concentrators Market is valued at USD 0.85 billion in 2017 and expected to reach USD 1.91 billion by 2027 with a CAGR of 8.4% over the forecast period”.
Homecare Oxygen Concentrators Market: Global Size, Trends, Competitive, Historical & Forecast Analysis 2021-2027- Increasing awareness about Advanced treatment options and favourable reimbursement policies drives the growth of Homecare Oxygen Concentrators Market
Oxygen concentrators are the latest technology for oxygen treatment users who want a lightweight, small and affordable portable oxygen solution in a mobile and compact unit. They are essential for people with breathing problems like Pneumonia, Chronic Obstructive Pulmonary Disease (COPD), Respiratory Distress Syndrome, Cystic Fibrosis, Asthma, Sleep Apnea, Heart Failure, and Chronic Lung Diseases. The benefits of concentrators are they don’t require filling like cylinders, and they are less expensive, and it runs on electricity. In case of no power supply oxygen cylinder can be used and also in medical conditions that require high flow of oxygen. Cylinders are available in various capacities, and it needs to refill from time to time.
The global medical oxygen concentrators market may witness an increase due to the spread of COVID-19. The growth of containment efforts is leading to high demand and lower production. Therefore, prices are anticipated to remain raised in the short term, thereby subsequent in improved top-line growth of market vendors in the coming years.
The market is segmented into Technology, Product, and region. On the basis of Technology, the market is classified as Continuous Flow and Pulse Dose. On the basis of Product, market is classified as Compressed Gas Oxygen Cylinders, and Portable Home Oxygen Concentrators.
The regions covered in this Homecare Oxygen Concentrators Market report are North America, Europe, Asia-Pacific and Rest of the World. On the base of nation level, the marketplace is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, India, China, Japan, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key players of this market are Invacare Corporation, Philips Healthcare, AirSep Corporation, ResMed, Nidek Medical Products, Inc., DeVilbliss Healthcare LLC, Covidien plc, TEIJIN LIMITED and O2 CONCEPTS, LLC, and Inova Labs.
News: ResMed announced availability of portable oxygen concentrator.
In January 2018, ResMed company announced availability of Mobi, which is a portable oxygen concentrator, will be available across the U.S. and Accessibility of the product enhanced company’s revenue to large COPD patient pool in the country
Over the period of time there has been significant change in lifestyle among young population along with surge in pollution has increased the prevalence of COPD patients worldwide. According to the World Health Organization, in 2016, 251 million patients suffered from COPD worldwide. Furthermore, an estimated 3.16 million deaths globally were reported due to COPD in 2015. Thus, with rising incidence of chronic obstructive pulmonary disorder along with other respiratory disorders as well as increasing concern of improved disease management, is expected to fuel the growth of homecare oxygen concentrators market over the forecast period. Additionally, the favourable reimbursement policies along with increasing awareness about the availability of advanced treatment options is also expected to contribute the market growth. On the other hand, better healthcare infrastructure as well as high adoption of portable oxygen concentrators is expected to support the market growth and create ample opportunities in the near future. However, the stringent regulatory policies for the approval of oxygen concentrator is likely to hamper the growth of homecare oxygen concentrator market.
The rising government initiatives and motivations influence the homecare oxygen concentrators market positively. The scheme such as organizing awareness programs to educate masses regarding respiratory disorders have led to increased patient awareness levels. Additionally, the national heart, lung, and Blood institute develops educational programs, and launched COPD Learn More Breathe Better (LMBB) campaign to raise awareness and educate the public about COPD that will boost the industry growth considerably. According to the World Health Organization (WHO), the global burden of disease Study has estimated the worldwide prevalence of COPD as 834 per 100,000 people, which yields approximately 44 million cases of COPD worldwide.
In countries with established market economies the prevalence rate was estimated to be as low as 535 per 100,000. One of the major challenges faced by this market is high product costs and stringent FDA regulations pertaining to medical devices are some of the factors likely to restrain growth of the global portable oxygen concentrators market during the forecast period. However, the demand for lighter technology by consumers and need for better mobility support for the aged rises. Furthermore, the most preferred technology for portable home oxygen concentrators as it is more reliable and safe compared to other technologies. n addition, the adoption of these concentrators is growing rapidly in homecare settings due to high patient base coupled with rapidly aging population worldwide.
North America is expected to dominate the homecare oxygen concentrator market in terms of market share owing to the sedentary lifestyle and growing aging population. Additionally, the increased prevalence of respiratory diseases and favourable repayment policies in the region is also expected to amplify the market growth. Europe is expected to closely follow the North America in terms of market share. Asia-Pacific market is expected to grow at the highest CAGR during the forecast period, owing to the increasing disposable income of individuals along with the development of healthcare services. All the above-mentioned factors is expected to promote the market growth.
|2015 - 2020
|2021 - 2027
|Market Size in 2020:
|USD 0.85 billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2027:
|USD 1.91 billion
|Tables, Charts and Figures:
|Invacare Corporation, Philips Healthcare, AirSep Corporation, ResMed, Nidek Medical Products, Inc., DeVilbliss Healthcare LLC, Covidien plc, TEIJIN LIMITED and O2 CONCEPTS, LLC, and Inova Labs
|By Product, By Technology
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Middle East and Africa
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