Emphasis on Product (Continuous Flow and Pulse Flow-Based); Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Respiratory Distress Syndrome, and Others); End-users (Hospitals, Homecare Settings, Ambulatory Surgical Centres, and Travel Agents); and Region/Country
The Portable Oxygen Concentrators Market was valued at approximately USD 2 Billion and is expected to grow at a strong CAGR of around 8% during the forecast period (2024-2032) owing to the increasing prevalence of respiratory disorders.
The Portable Oxygen Concentrators (POC) industry includes a variety of types of devices that are used for delivering oxygen therapy for people with respiratory diseases in an easy-to-transport format. These small and portable devices take oxygen from the surrounding environment and, as such, do not require cumbersome oxygen cylinders; thus, the patients are able to move around and are also not restricted in any form.
This market has thus expanded favorably, owing to factors like rising incidences of respiratory disorders, focusing shifts in-home care systems, innovative technologies improving device mobility and performance, and a developing geriatric population demanding a better lifestyle. According to the World Health Organization, on March 16, 2023, nearly 90% of COPD deaths in those under 70 years of age occurred in low- and middle-income countries (LMIC). Besides, the increase in the scope of reimbursement policies and healthcare-based schemes related to home-based care also positively impacts the market’s growth. As technology advances, adopted to bring about innovations that can improve both the usability and the proven medical necessity of the devices, POC is on the right track for further growth as it provides crucial support for people living with chronic respiratory diseases.
This section discusses the key market trends influencing the various segments of the portable oxygen concentrators market as identified by our research experts.
Pulse Flow Portable Oxygen Concentrators Transforming Industry
The pulse flow segment dominates the global portable oxygen concentrators market in 2023. This change in dynamics was made through continuous technological developments that have increased the efficacy and dependability of pulse flow devices. For instance, on 22 February 2024, GCE Healthcare alternated the Zen-O and Zen-O lite POCs to meet the needs of those who depended on Philips. The Zen-O POC comes with pulse and continuous flow technologies and has an oxygen delivery rate of up to 2 liters per minute. At the same time, the main feature of the Zen-O lite is its ultra-lightweight and near-silent operation, which makes it approved for in-flight use. Those allow travelers to breathe easier because they have a more human-like shape, which is very suitable for active individuals who need oxygen therapy. Also, the increase in the proportion of the population with aging and an increased incidence of respiratory diseases, including COPD, has led to the need for pulse flow POCs for respiratory health checks that are convenient and accessible at the point of care convenient and accessible.
Within Asia-Pacific, the growth of an upper middle class, an increase in health costs, and a focus on home care have collectively influenced the development of the market. Moreover, constant innovations in portable oxygen concentrators not only increasing the product reach but also trying for a better healthcare facility at a more affordable rate are again the major drivers for market growth. There are also government actions to increase spending on healthcare and penetration of medical devices that contribute to the development of the popularity of POCs in the presented region. Moreover, key market players such as healthcare providers, manufacturers, and distributors of asthma medical equipment are continuing to invest in modern technologies and expand market penetration by reaching out to healthcare practitioners and patients.
In December 2023, Belluscura and InnoMax Medical Device Technologies had a licensing arrangement that permits Belluscura to distribute their X-PLOR portable oxygen concentrator (POC) in China. The AIM-traded company stated that negotiations were in progress with Chinese distributors and that the Asian POC market will grow to around $1 billion during the next six years.
The Portable Oxygen Concentrators Market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Inogen, Inc., CAIRE Inc., Invacare Corporation, Koninklijke Philips N.V., Precision Medical, Inc., Chart Industries, GCE Group, O2 Concepts, LLC., Nidek Medical Products, Inc., Drive DeVilbiss International.
The Global Portable Oxygen Concentrators Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Portable Oxygen Concentrators Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Product
8. Market Insights By Application
9. Market Insights By End-user
10. Market Insights By Region
11. Value Chain Analysis
12. Competitive Landscape
13. Company Profiles
14. Acronyms & Assumption
15. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Portable Oxygen Concentrators market were the three major steps undertaken to create and analyze the adoption of Portable Oxygen Concentrators in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Portable Oxygen Concentrators market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Portable Oxygen Concentrators market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Portable Oxygen Concentrators market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, application, end-user, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Portable Oxygen Concentrators market. Further, we conducted factor analysis using dependent and independent variables such as product, application, end-user, and regions of the Portable Oxygen Concentrators market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Portable Oxygen Concentrators market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Portable Oxygen Concentrators market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Portable Oxygen Concentrators market. Data was split into several segments and sub-segments after studying various parameters and trends in the product, application, end-user, and regions of the global Portable Oxygen Concentrators market.
The current & future market trends of the global Portable Oxygen Concentrators market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the portable oxygen concentrators market's current market size and growth potential?
Q2: What are the driving factors for the growth of the portable oxygen concentrators market?
Q3: Which segment has the largest share of the portable oxygen concentrators market by product?
Q4: What are the emerging technologies and trends in the portable oxygen concentrators market?
Q5: Which region will dominate the Portable Oxygen Concentrators market?
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