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(Medical-NewsWire.com, August 23, 2018 ) Industry Trend Analysis
Homecare oxygen concentrators market is projected to be around 1.6 billion by 2025. Increasing aging population is one of the major factors responsible for the market growth. According to UN, geriatric population is expected to reach more than 2 billion by 2050. Aging populations is at more risk of developing respiratory infections such as asthma, pulmonary hypertension, and COPD that will boost demand for oxygen concentrators leading to increase in market growth. Increasing spending of people, various government initiatives to spread awareness about disease and increasing geriatric population will stimulate industry growth. Rise in consumption of cigarettes and continuous exposure to dust and other pollutants will shoot up demand for oxygen concentrators as it increases prevalence of COPD. However, presence of strict approval guidelines by U.S. FDA and time consuming process for approval and strict government guidelines for use and disposing of such products will slow down the market growth.
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Technology Outlook and Trend Analysis
Pulse dose technology dominated the overall market in 2016 and is projected to continue its lead over the forecast period. It is the most preferred technology for portable home oxygen concentrators as it is more reliable and safe compared to other technologies. Moreover, the adoption of these concentrators is growing rapidly in homecare settings due to high patient base coupled with rapidly aging population worldwide.
Product Outlook and Trend Analysis
Portable home oxygen concentrators dominated the global market in 2016. This large share of portable oxygen concentrators can be attributed to various benefits offered such as convenience of usage, light weight as compared to other concentrators, and ability to offer effective care for COPD patients at home. Liquid oxygen concentrators market is projected to be fastest growing segment, as it requires less space to store and is light weight and cost effective. Compressed oxygen cylinders will witness significant growth due to availability of devices in many sizes based on oxygen requirement. However, risk of explosion and heavy weight will cause people to shift towards portable cylinders thereby decreasing the market for compressed cylinders.
Regional Outlook and Trend Analysis
U.S. dominated the global market in 2016, due to sedentary lifestyle and growing aging population with increasing incidence of respiratory diseases and favorable reimbursement policies in the U.S. Asia-Pacific market is poised to grow at the highest CAGR during the forecast period, due to growing standard of living, more disposable income of individuals and rise in demand better health care services.
Competitive Insights
Companies such as Invacare, AirSep, Yuwell, BOC Healthcare, Covidien, Teijin, Precision Medical, Nidek Medical, Drive DeVilbiss Healthcare, and Philips Healthcare dominated the overall market. This market is witnessing entries of many new entrants in each segment, due to introduction of 2012 U.S. FDA Safety and Innovation Act.
Market opportunities
Global homecare oxygen concentrators market is driven by strategic developments and innovations. This segment has undergone many changes and improvement with the introduction of portable devices. The approval from Federal Aviation Administration for onboard use of portable cylinders opened up many opportunities for key players.
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Homecare Oxygen Concentrators Market is Segmentation as follows –
By Technology
Continuous Flow
Pulse Dose
By Product
Compressed Gas Oxygen Cylinders
Compressed Gas Oxygen Cylinders
Portable Home Oxygen Concentrators
By Application
Homecare Settings
Non-Homecare Settings
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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