An Incisive, In-depth Analysis on the Portable Oxygen Concentrators Market
This study offers a comprehensive, 360 degree analysis on the Portable Oxygen Concentrators market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Portable Oxygen Concentrators market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Portable oxygen concentrator (POC) is a medical device used to supply oxygen to patients suffering from respiratory diseases. The concentrator separates nitrogen and oxygen from air in the environment and then discards the nitrogen and supplies 95% pure oxygen to patients through a mask. POCs are smaller as compared to stationary oxygen concentrators, allowing patients to easily carry the device. Apart from patients, POCs are also used by mountaineers and travellers in places where oxygen is inadequate.
The global portable oxygen concentrators market revenue is projected to reach a market valuation of US$ 1246.1 Mn by 2016 end and register a CAGR of 7.8% during the forecast period 2016-2026.
Increasing consumer awareness for oxygen therapy devices likely to boost market growth during the forecast period
The primary factors fuelling global demand for portable oxygen concentrators are an increasing prevalence of chronic obstructive pulmonary diseases, growing consumer awareness for oxygen therapy devices, a changing consumer lifestyle, adoption of new technologies, increased government expenditure, and a rise in investment by manufacturing companies towards the production of homecare products.
However, high product costs and stringent FDA regulations pertaining to medical devices are some of the factors likely to restrain the growth of the global portable oxygen concentrators market during the forecast period.
By End User
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Pulse Flow Portable Oxygen Concentrator product segment projected to dominate the global portable oxygen concentrators market
The Pulse Flow Portable Oxygen Concentrator segment is estimated to account for a revenue share of 64.2% by the end of 2016. This segment is anticipated to create absolute $ opportunity of US$ 54.6 Mn in 2017 over 2016. The Continuous Flow Portable Oxygen Concentrator segment is expected to witness a CAGR of 5.3% in terms of value over the forecast period.
Homecare end user segment projected to dominate the global portable oxygen concentrators market in terms of value
The Homecare segment is estimated to account for more than 60% value share of the global portable oxygen concentrators market by 2016 end, which is expected to increase further by the end of 2026. The Hospitals segment is expected to register a CAGR of 9% in terms of value over the forecast period.
North America estimated to account for maximum value share of the global portable oxygen concentrators market throughout the forecast period
Increased prevalence of chronic obstructive pulmonary diseases and rising technological advancements is expected to result in significant growth of the portable oxygen concentrators market in the North America region, which is estimated to account for 40.9% revenue share in 2016. By product type, the Pulse Flow Portable Oxygen Concentrator segment is forecast to be the most attractive segment in the North America portable oxygen concentrators market over the forecast period. By end user type, the Homecare segment is forecast to be the most attractive segment in the North America portable oxygen concentrators market over the forecast period. The Western Europe market is anticipated to register a CAGR of 6.7% over the forecast period owing to an increasing prevalence of chronic obstructive pulmonary diseases. Increasing preference of interventional cardiologists for nonsurgical procedures is expected to drive the growth of the portable oxygen concentrators market in Western Europe over the forecast period.
Leading market players are focussing on product innovation through strategic global market collaborations
Some of the top companies operating in the global portable oxygen concentrators market are Koninklijke Philips N.V., Inogen Inc., Chart Industries Inc., Resmed Inc., Invacare Corporation, Drive DeVilbiss Healthcare, Precision Medical Inc., Besco Medical Co. Ltd., Oxus America, Inc. (Oxus), Foshan Keyhub Electronic Industries Co. Ltd., O2 Concepts LLC, and GCE Group. Some of these companies are adopting an inorganic growth strategy in the form of strategic acquisitions and investments to expand their product portfolio, geographic reach, and manufacturing capabilities.
The global market for portable oxygen concentrators is consolidated with few key players dominating the market. The top four players contribute around 75% of the market. Koninklijke Philips N.V. holds the maximum share of around 40%.
In a new publication titled “Portable Oxygen Concentrators Market: Global Industry Analysis & Opportunity Assessment, 2016 - 2026” Future Market Insights presents a 10-year outlook of the global portable oxygen concentrators market. Our primary objective is to offer updates and information related to market opportunities in the global portable oxygen concentrators market. We have presented our take on the key drivers, restraints, and trends impacting the market across key global regions during the forecast period (2016–2026).
The report begins by defining portable oxygen concentrators, types of portable oxygen concentrators, and the relevance and impact of forecast factors used to estimate the performance of the global portable oxygen concentrators market. It is followed by an overview of key market dynamics, which includes our analysis of the trends, drivers, restraints, and opportunities influencing the growth of the global portable oxygen concentrators market. Impact analysis of key growth drivers and restraints based on the weighted average model has been included at a regional level after detailed analysis of individual regions to better equip readers with meaningful insights into ongoing developments in the global portable oxygen concentrators market.
Based on product type, the global portable oxygen concentrators market has been segmented into continuous flow portable oxygen concentrators and pulse flow portable oxygen concentrators. Based on end user, the global portable oxygen concentrators market is segmented into hospitals, homecare, ambulatory surgical centres, and travel agents. A detailed analysis has been provided for these segments in terms of market size, Y-o-Y growth rate, and BPS analysis.
The next section of our report provides a market outlook of the portable oxygen concentrators market in the key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). In our report, we have evaluated the present scenario and future growth prospects of the global portable oxygen concentrators market by product type, end user, and region and presented a comprehensive market summary for the forecast period.
In the final section of the report, we have covered detailed profiles of companies engaged in the development of portable oxygen concentrators globally to evaluate their long- and short-term strategies, key offerings, SWOT analysis, and recent developments in the global portable oxygen concentrators market.
To ascertain the global portable oxygen concentrators market size, we have considered the revenue generated by companies operating in the global portable oxygen concentrators market. The forecast presented in our study assesses the total revenue by value across the global portable oxygen concentrators market. In order to offer an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global portable oxygen concentrators market is expected to develop in future. Given the characteristics of the market, we have triangulated the outcome of three different types of analysis based on supply side, downstream industry demand, and the economic envelope.
Given the ever-fluctuating nature of the global economy, we have not only conducted forecasts in terms of CAGR, but have also analysed the market based on key parameters such as year-on-year (Y-o-Y) growth rates to understand market predictability and to identify the right opportunities across the global portable oxygen concentrators market. Furthermore, we have analysed the different market segments in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying various key trends in the global portable oxygen concentrators market. To understand key market segments in terms of growth and adoption of portable oxygen concentrators globally, we have also developed the ‘Market Attractiveness Index’ for the global portable oxygen concentrators market. The resulting index is expected to help providers identify real market opportunities in the global portable oxygen concentrators market.