Global Portable Oxygen Concentrators Market Trends, Applications, Analysis, Growth, and Forecast to 2027

Global Portable Oxygen Concentrators Market Overview:

“The global Portable Oxygen Concentrators Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Portable oxygen concentrator (POC) is a medical device which supplies oxygen to patients suffering from respiratory problems. Portable oxygen concentrators are considered safer, easy to use, and inexpensive solutions as compared to conventional oxygen cylinders. Portable oxygen concentrators (POC) 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. Moreover, these devices can also be used by mountaineers, and individuals travelling to places where oxygen is present inadequate amounts.

Increasing incidence of chronic obstructive pulmonary diseases, and growing awareness for oxygen therapy devices among the general population are key factors driving the global portable oxygen concentrators market. In addition, changing consumer lifestyle, increasing adoption of new technologies, and increase in government expenditure on healthcare facilities are other factors contributing to growth of the global portable oxygen concentrators (POC) market over the forecast period.

However, high product cost is a major restraint for growth of the global portable oxygen concentrators market. Additionally, stringent regulations pertaining to medical devices, and presence of environmental guidelines for use and disposal of portable oxygen concentrators (POC) are major factors expected to hamper growth of the global portable oxygen concentrators (POC) market to a significant extent.

North America holds the major market share in terms of revenue in the global portable oxygen concentrators (POC) market as compared to that of markets in other regions. This can be attributed to high prevalence rate of respiratory diseases, increasing home healthcare adoption coupled with favorable reimbursement policies in the region. Europe accounts for the second-highest revenue share contribution to the global market followed by markets in Latin America, and Asia Pacific respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in number of patients suffering from chronic respiratory diseases, growing standard of living, and increasing access to better healthcare facilities in emerging economies such as India, and China.

Global Portable Oxygen Concentrators Market Segmentation:

Global portable oxygen concentrators market segmentation by product:

• Continuous flow portable oxygen concentrator
• Pulse flow portable oxygen concentrator

Global portable oxygen concentrators market segmentation by end user:

• Hospitals/Clinics
• Ambulatory surgical centers
• Homecare Settings

Global portable oxygen concentrators market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa