According to the latest report by IMARC Group, titled "Portable Oxygen Concentrators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global portable oxygen concentrators market reached a value of US$ 1.5 Billion in 2021. A portable oxygen concentrator (POC) refers to a device that is widely utilized to provide oxygen therapy to patients who require a higher level of oxygen concentration than ambient air. These medicals devices consist of an alarm indicator,a knob for adjusting the flow rate and an oxygen outlet for the nasal cannula. They function by separating nitrogen and oxygen from the air in the environment and offering pure oxygen to the patient. These concentrators are compact and lightweight in nature, unlike the traditionally used stationary concentrators. They can often be used to deliver oxygen to the individuals via pulse dose and continuous flow delivery modes.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Portable Oxygen Concentrators Market Trends:
The global market is primarily driven by the rising prevalence of respiratory disorders, such as asthma and chronic obstructive pulmonary diseases (COPD). Since POCs can be easily carried conveniently, they are gaining widespread preference across the healthcare sector. This is further being supported by the increasing geriatric population and rapid technological advancements in the miniaturization of the oxygen concentrators. The market is also driven by the rapid outbreak of the coronavirus disease (COVID-19) pandemic on the global level. Patients with COVID-19 who have an oxygen concentration lower than 90 percent should be provided with oxygen therapy to avoid further health deterioration. Also, patients already suffering from pulmonary disorders require these medical devices to maintain an adequate concentration of oxygen.This, coupled with the rising demand for portable oxygen sources from intensive care units (ICUs), is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the launch of POCs with improved battery life and miniaturized membrane technologies, extensive research and development (R&D) activities and the continual developments in the healthcare infrastructure. On account of the aforementioned factors, the market is expected to grow at a CAGR of 8.6% during the forecast period (2022-2027).
- On the basis of the technology, the market has been divided into continuous flow and pulse flow.
- Based on the application, the market has been classified into chronic obstructive pulmonary disease (COPD), asthma, respiratory distress syndrome, sleep apnea, and others.
- On the basis of the end user, the market has been segmented into hospitals, ambulatory surgery centers, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Caire Inc. (NGK Spark Plug Co. Ltd), Chart Industries Inc., Drive Devilbiss Healthcare Limited (Drive International LLC), Inogen Inc., Invacare Corporation, Koninklijke Philips N.V., Nidek Medical India Pvt Ltd, O2 Concepts LLC, Precision Medical Inc. (BioHorizons Inc.), Resmed Inc. and Teijin Limited.
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