Authored By: Sarah
11 Jul 2024

 Portable Oxygen Concentrators Market Size to grow by USD 1159.7 million between 2024-2028

According to a research report “ Portable Oxygen Concentrators Market” by Product (Pulse dose, Continuous flow) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1159.7 million, at a CAGR of  10.03% during the forecast period. In the business context, respiratory diseases such as COPD, triggered by allergens, pollution, and smoking, can lead to debilitating symptoms including dyspnea or shortness of breath. This condition, which may worsen with non-strenuous activities, can significantly impact an individual's quality of life and productivity. COPD, a type of lung disease with irreversible lung damage, can result in severe shortness of breath, immobilizing victims in advanced stages. With the increasing prevalence of COPD, there is a growing demand for effective treatments to alleviate symptoms, enhance exercise capacity, and improve overall well-being. Despite being incurable, various medical and physical interventions are available to manage COPD and reduce the risk of complications. Portable oxygen concentrators have emerged as a promising solution for individuals with respiratory conditions, enabling them to maintain an active lifestyle while receiving essential oxygen support.

Browse market data tables, figures, and in-depth TOC on “Portable Oxygen Concentrators Market” by Product (Pulse dose, Continuous flow) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Product, the Pulse dose segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The Portable Oxygen Concentrators (POCs) market is experiencing significant growth due to the increasing prevalence of respiratory disorders and an aging population. POCs offer mobility and convenience, making them an essential medical device for patients requiring supplemental oxygen. Key market drivers include technological advancements, increasing government funding, and rising healthcare expenditures. The market is expected to continue its robust growth trajectory, presenting lucrative opportunities for manufacturers and investors.

North America is forecasted to hold the largest market size by region in 2024

The Portable Oxygen Concentrators (POCs) market represents a significant growth opportunity for businesses in the healthcare industry. These devices, which concentrate and deliver medical-grade oxygen to patients, offer increased mobility and independence. POCs are particularly beneficial for individuals with chronic obstructive pulmonary disease (COPD), sleep apnea, and other respiratory conditions. Market growth is driven by an aging population, increasing prevalence of respiratory diseases, and advancements in POC technology. Businesses investing in this sector can anticipate robust demand and substantial returns.

The Portable Oxygen Concentrators Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Chart Industries Inc.
  • Colfax Corporation
  • Inogen Inc.
  • Invacare Corp.
  • Koninklijke Philips N.V.
  • Medical Depot Inc.
  • Mediniq Healthcare Pvt. Ltd.
  • Niterra Co. Ltd.
  • Nidek Medical India Pvt. Ltd.
  • O2 Concepts LLC
  • Precision Medical Inc.
  • ResMed Inc.
  • Teijin Ltd.
  • Zhengzhou Olive Electronic Technology Co. Ltd.
.

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Research Analysis Overview

The Portable Oxygen Concentrators (POCs) market is witnessing significant growth due to the increasing prevalence of respiratory diseases such as lung cancer, tuberculosis (TB), COPD, asthma, pulmonary fibrosis, and other lung conditions. These conditions often require the use of oxygen therapy to manage respiratory complications and prevent hospitalizations. POCs, which use pulse flow technology to deliver oxygen, have gained popularity due to their portability and convenience. Reimbursement policies and healthcare systems play a crucial role in the adoption of POCs. Insurance coverage for oxygen therapy varies widely, and social segregation policies can limit access to healthcare services for certain populations. The aging population, with its increased susceptibility to respiratory diseases, is a significant market for POCs. Mobile health apps, remote patient monitoring, and telemedicine are emerging trends in the POC market. These technologies enable home healthcare solutions, reducing the need for hospitalizations and lowering healthcare expenditures. Medical devices that integrate with these technologies offer added value to patients and healthcare providers. Nitrogen removal is a critical consideration in POC design, as oxygen concentrators must effectively remove nitrogen to deliver pure oxygen to the patient. The POC market is expected to continue growing as the demand for home healthcare solutions increases and reimbursement policies become more favorable.

Market Research Overview

The Portable Oxygen Concentrators (POCs) market is witnessing significant growth due to the increasing prevalence of chronic respiratory diseases, oxygen shortages, and respiratory complications leading to high hospitalizations. Healthcare professionals are increasingly relying on POCs for home care solutions, especially for patients with conditions like COPD, lung cancer, tuberculosis (TB), asthma, and pneumonia. POCs offer the advantage of delivering medical-grade oxygen while filtering out nitrogen from normal air, making them a crucial accessory for patients with breathing issues. POCs are particularly important for children, who are more susceptible to respiratory infections and pneumonia deaths due to smoking and lifestyle factors. POCs are also essential for geriatric populations with chronic respiratory conditions, such as pulmonary fibrosis and emphysema. The market for POCs is expanding beyond hospitals and institutionalized care settings, with growing adoption in home care. POCs come in various types, including continuous flow and pulse flow devices, and are increasingly being integrated with mobile health apps, remote patient monitoring, and telemedicine for better healthcare services. However, reimbursement policies and healthcare expenditures remain significant challenges for the POC market. Social segregation policies and lack of insurance coverage in some regions can also limit access to these essential healthcare products. Despite these challenges, the future of POCs looks promising, with ongoing advancements in technology and growing recognition of their importance in improving survival rates and reducing healthcare costs.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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