Portable Oxygen Concentrators Market Worth US$ 4.7 Billion by 2031 – Growth Plus Reports
Newark, New Castle, USA, May 31, 2023 (GLOBE NEWSWIRE) — The market analysis of the global portable oxygen concentrators market was conducted by Growth Plus Reports in 2022 and is valued at US$ 1.84 billion. The market is expected to hit a revenue CAGR of 9.84% to reach US$ 4.7 billion by 2031.
Portable oxygen concentrators are innovative medical devices that deliver oxygen therapy to individuals with respiratory conditions. These compact and lightweight devices provide a convenient and reliable source of oxygen, allowing patients to maintain an active lifestyle and improve their quality of life. The market for portable oxygen concentrators registered significant revenue growth because of the increasing prevalence of respiratory disorders and the growing demand for portable respiratory care solutions.
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Portable Oxygen Concentrators Market Scope
|Market Size Value in 2022||US$ 1.84 billion|
|Revenue Forecast in 2031||US$ 4.7 billion|
|Base Year for Estimation||2022|
|Forecast Period||2023 to 2031|
|Segments Covered||Technology, Application, End User, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
The key findings of the report include the increasing adoption of portable oxygen concentrators for ambulatory oxygen therapy. These devices offer greater mobility and flexibility compared to traditional oxygen cylinders or stationary concentrators. Advancements in battery technology, improved oxygen delivery systems, and user-friendly interfaces contribute to the growing popularity of portable oxygen concentrators among patients and healthcare providers.
The report also highlights the impact of technological advancements on the Portable Oxygen Concentrators Market. Innovations such as miniaturization, noise reduction, intelligent oxygen delivery systems, and connectivity features enhance the user experience and contribute to the overall efficiency and effectiveness of portable oxygen concentrators. These advancements aim to optimize oxygen therapy and improve patient outcomes.
Recent Development in the Portable Oxygen Concentrators Market:
- In April 2022, The ARYA Portable Oxygen Concentrator was introduced by ARYA BioMed Corp, a well-known manufacturer of oxygen treatment equipment. The portable oxygen concentrator from ARYA is incredibly portable and has a powerful battery-powered system that charges quickly. This groundbreaking device, despite its small size, has a lot of power.
A list of the key market players operating in the global market for portable oxygen concentrators includes:
- Koninklijke Philips N.V.
- Precision Medical Inc.
- Invacare Corporation
- Oxus America, Inc. (Oxus)
- 02 Concepts LLC
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- Four perspectives are used to study the market for portable oxygen concentrators: technology, application, end-user, and location.
- The market for portable oxygen concentrators is segmented into continuous flow and pulse flow based on technology.
- With the largest revenue share in 2022, pulse flow portable oxygen concentrators dominated the market.
- The market for portable oxygen concentrators is divided into segments for chronic obstructive pulmonary disease (COPD), asthma, respiratory distress syndrome, and others based on applications.
- Due to the increasing prevalence of COPD, the chronic obstructive pulmonary disease sector had a significant part of the market.
- The market for portable oxygen concentrators has been split into segments based on the end users, including hospitals, home healthcare settings, and others.
- With the greatest revenue share in 2022, the hospital segment will be a major participant in the portable oxygen concentrators market. This is due to an aging population, an increase in chronic respiratory disorders, and the increased incidence of COVID-19.
Global market research on the portable oxygen concentrators market was done in-depth by Growth Plus Reports. We looked at the core market traits, noteworthy investment prospects, regional growth trends, ten-year revenue projections, rival market participants, and mergers and acquisitions.
The research also discusses the difficulties the market for portable oxygen concentrators confronts. These difficulties include patient education and training needs, product cost, device durability, and regulatory compliance. In order to ensure the safe and efficient use of portable oxygen concentrators, it is essential to overcome these obstacles through quality control procedures, legal frameworks, and professional training programs for healthcare providers.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- GLOBAL PORTABLE OXYGEN CONCENTRATORS MARKET – ANALYSIS & FORECAST, BY TECHNOLOGY
- Continuous Flow
- Pulse Flow
- GLOBAL PORTABLE OXYGEN CONCENTRATORS MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Chronic Obstructive Pulmonary Disease (COPD)
- Respiratory Distress Syndrome
- GLOBAL PORTABLE OXYGEN CONCENTRATORS MARKET – ANALYSIS & FORECAST, BY END USER
- Homecare Settings
PORTABLE OXYGEN CONCENTRATORS MARKET TOC
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- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market.
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
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- ‘Business Profile’ of Key Players
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