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The global portable oxygen concentrators market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 9% during the forecast period (2021-2026). A portable oxygen concentrator (POC) refers to a medical device used for supplying oxygen to patients suffering from respiratory diseases. The device separates nitrogen and oxygen from the air in the environment and provides pure oxygen to the patient. There are two delivery modes in POCs, pulse dose and continuous flow, and consists of a plug-in power source, a knob to adjust the flow rate, an alarm indicator and an oxygen outlet for nasal cannula. In comparison to the traditionally used stationary concentrators, modern POCs are more compact, offer the ease of mobility and can be used by mountaineers and trekkers in regions with limited oxygen.
The increasing prevalence of respiratory disorders, such as sleep apnea and asthma, represents one of the key factors driving the growth of the market. Furthermore, the rising geriatric population, which is susceptible to such ailments and the growing demand for convenient portable devices, is providing a thrust to the market. In line with this, as the coronavirus disease (COVID-19) pandemic continues to spread across the globe, there has been a significant increase in the demand for POCs in healthcare centers. Patients with pre-existing asthma, chronic obstructive pulmonary disease (COPD) and other lung problems require these devices to maintain an adequate concentration of oxygen. Additionally, various product innovations, such as the development of variants with improved battery life and miniaturized membrane technologies, are also contributing to the market growth. Other factors, including improvements in the healthcare infrastructure, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global portable oxygen concentrators market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, technology, application and end user.
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The report has also analysed the competitive landscape of the market with some of the key players being 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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