Homecare Oxygen Concentrators Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Homecare Oxygen Concentrators Market: Overview
Homecare oxygen concentrators are usually used in providing supplemental oxygen to wide range of patients with respiratory problems. Their demand stemmed from the role they have in enhancing the survival rates 24 by 7 in patients suffering from pulmonary hypertension, COPD, fibrosis, and chronic respiratory disorders. These patients need homecare oxygen concentrators for providing supplemental oxygen. Other key cohort driving revenues in the homecare oxygen concentrators market in daily use are those having some aspirational problems.
Rapid advances have been witnessed in the design and homecare oxygen concentrators, with portable ones having gathered wide traction among target users. Some of the key product types in the market are portable home oxygen concentrators, compressed gas oxygen cylinders, and liquid oxygen ones.
The study on the homecare oxygen concentrators market presents a detailed assessment of the growth dynamics of the market, value-grab opportunities in different segments and regions, and the competitive dynamics. The report also presents an all-rounded insight into the major research and development avenues.
Homecare Oxygen Concentrators Market: Key Trends
The growing incidence of respiratory disorders and COPD is one of the key drivers for growth. Over the years, pollution and smoking has led to high prevalence of pulmonary disorders. Growing demand for supplemental oxygen in people suffering from dyspnea is also boosting the demand. The preference of these over oxygen tanks in homecare settings is reinforcing the avenues in the homecare oxygen concentrators market. People who need to travel has been one of the key target consumers in the market. The user-friendliness has attracted different cohorts of consumers.
The role of homecare oxygen concentrators in improving the patients’ life is also a key business proposition. Growing understanding of the morbidity associated with COPD especially in male adults has also encouraged the growth of the market. In developed nations, the prevalence of chronic bronchitis is also significant, thus boosting the demand.
Homecare Oxygen Concentrators Market: Competitive Assessment
Numerous manufacturers and vendors focusing on reducing the maintenance cost and improving the capacities so that they are well embraced by patient populations. Aspiring manufacturers are also emphasizing on improving other key performance parameters before making any product launches. Top players in the homecare oxygen concentrators market have gained stronghold by offering portable and multipurpose oxygen concentrators, including those meant for homecare. A growing number of players are striving to consolidate their raw material supply chain and attain resiliency in manufacturing to overcome any macroeconomic disruptions.
Some of the key players in the homecare oxygen concentrators market are Teijin Ltd., ResMed Inc., Precision Medical Inc., Nidek Medical Products Inc., Invacare Corp., Inogen Inc., and GCE Holding AB.
Homecare Oxygen Concentrators Market: Regional Assessment
A large chunk of the revenues in the homecare oxygen concentrators market has come from North America in the recent years. The presence of advanced healthcare infrastructure and the high prevalence of chronic respiratory disorders are key trends driving avenues in the region. A large revenue stream has come from the U.S. Other key regions are Asia Pacific and Europe. In the coming few years, vendors will try to tap into the rising revenue potential in several parts of the regions. Further, these regions will also gain from the focus of healthcare institutes to improve the lives of patients suffering from chronic respiratory disorders.
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