Portable Oxygen Concentrators Market By Type (Continuous Flow, Pulse Flow), By Indication (COPD, Asthma, Sleep Apnea, Others), By End User (Hospitals, Homecare Settings, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Portable oxygen concentrators market to exhibit productive growth during the forecast period

The global portable oxygen concentrators market was valued at US$ 914.2 Mn in 2017 and expected to reach US$ 2,101.3 Mn by 2026. Increasing prevalence for respiratory diseases, COPD, asthma along with growing elderly population and commercialization of new medical devices drive the portable oxygen concentrators market. Evolution from traditional cylinders to lightweight table top medical devices have also brought significant changes in the prevailing market trends. Expansion of new products offerings via direct sales and building distribution network worldwide mainly in the Asia Pacific will also open significant growth opportunities.    

Market Synopsis

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Pulse flow technology segment is expected to register higher growth by the end of 2026

Continuous flow portable oxygen concentrators segment is expanding significantly, mainly in the Asia Pacific, Middle East & Africa (MEA) and Europe. The pulse flow type dominates the global market (in terms of value) owing to better energy-efficiency and longer battery life. Wide range of portable oxygen concentrators incorporate advantages such as reduced size, enhanced mobility, and sophisticated oxygen capacity suitable for all conditions and are increasingly utilized by specialty medical professionals. Other factors include growing awareness and increasing patient admissions for COPD, progress in efficiencies of multispecialty hospitals, homecare settings and clinics across emerging nations.

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COPD in the indication segment generated a significant revenue share in 2018

COPD in the indication segment contributes a major share in the global the market in 2018 and will continue its prominence during the forecast period. Top firms are focusing on lightweight portable devices for pediatric and elderly patients along with mobile oxygen supply with wireless connections to the patients suffering from COPD. Additionally increasing incidences for acute respiratory distress syndrome, occupational lung diseases, infectious diseases and other chronic disorders along with obesity will upsurge the global demand.   

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The homecare segment is expected to register higher growth by the end of 2026

As per the WHO and the Global Burden of Disease Study statistics, the prevalence of COPD was more than 250 million in 2016. Growing population along with the augmenting prevalence of respiratory disorders will drive the market growth in the end user segment. Homecare settings will grow significantly during the forecast period due to advantages such as better care from skilled professionals and reduced cost in long-term care. New trends for air ambulance (traveling), mobile medical clinics (provide various treatments for conditions such as cardiac, lungs, and trauma) and point of care settings will further drive the demand in future.

Increasing prevalence of COPD along with commercialization of new products internationally will drive the market growth

The U.S. generated the largest revenue in the global portable oxygen concentrators market, due to the presence of top manufacturers along with huge elderly population diagnosed with COPD, sleep apnea, and various chronic respiratory disorders. Additionally, rapid commercialization of novel portable devices would further drive the global market. Increasing medical tourism along with enormous population in the Asia Pacific (India and China), and improving reimbursement structure internationally will drive the market growth.

Dominance of multinational manufacturers with strong product portfolio in the developed regions

Major players in the portable oxygen concentrators market are Koninklijke Philips N.V., Invacare Corporation, Medical Depot, Inc., Precision Medical, Inc., Inogen, Inc. O2 Concenpts, LLC, CAIRE, Inc., GCE Group, Besco Medial Co., LTD, Nidek Medical, OSI Systems, Smiths Medical, Inc. and others. Acquisitions along with new device launch are strategic initiatives executed by commercial players to reinforce their geographical range and sustain position in the global market. For instance, in November 2016, Chart Industries launched the Respiratory Center-of-Excellence in the U.S. for additional manufacturing and delivering inventive and novel respiratory products.

Historical & Forecast Period

This study report represents analysis for each segment from 2016 to 2026 considering 2017 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2018 to 2026.

Report Scope by Segments 

The report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall portable oxygen concentrators market. Additionally, the global report comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report

• What are the current and future trends in portable oxygen concentrators, mainly in the homecare and travel segment?
• What are the opportunities for emerging players operating in Asia Pacific?
• Which segment accounts for the fastest CAGR during the forecast period?
• Which indication holds a larger market share and why?
• What is the impact of high cost of COPD procedures globally?
• What are the products and brands in the industry that are growing more significantly and why?
• What is the impact of flow diversion devices and neurothombectomy devices in the global market?
• What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?