- Demand from expanding geriatric population with chronic respiratory conditions to improve quality of life fuels growth.
- Focus of product manufacturers leading to the development of portable oxygen concentrators for toddlers, infants opens new revenue streams.
ALBANY, N.Y., April 29, 2021 /PRNewswire/ -- The current crisis of unavailability of oxygen cylinders in the second wave of COVID-19 in countries such as India has created massive demand for portable oxygen concentrators. The dearth of hospital-grade oxygen due to the vast surge in critically ill COVID-19 patients that require oxygen has led to enormous demand for alternate source portable oxygen concentrators.
In its simplest form, an oxygen concentrator is a medical device that collects oxygen from the ambient air. The oxygen concentrator takes in the ambient air, filters it sieve through a sieve, discharges the high concentration of nitrogen back into the air, and utilizes the remaining oxygen.
According to a report by the World Health Organization published in 2015, portable oxygen concentrators are designed for continuous operation. These devices can produce oxygen 24 by 7 for up to five years or more.
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Besides their use for lung conditions, portable oxygen concentrators are used to improve sleep during severe asthma, cystic fibrosis, pulmonary hypertension, and heart failure. Such expanded applications of portable oxygen concentrators explains continued growth of portable oxygen concentrators market, which in the near-term of 2026 is projected to touch a valuation of US$3.1 bn.
Portable Oxygen Concentrators Market - Key Findings of the Report
Vast Prevalence of COPD continues to create Demand
The high prevalence of COPD - an umbrella term that describes various progressive lung diseases such as chronic bronchitis, emphysema, and refractory asthma fuels portable oxygen concentrators market. Clinically, patients of COPD require uninterrupted supply of oxygen.
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Meanwhile, according to the WHO, COPD is the fourth-leading cause of death world over with approximately 2.75 million deaths every year. In the future, COPD is predicted to be the third-leading cause of death by 2030, adds the WHO. In the U.S., more than 16 million people are living with respiratory disorders such as COPD, lung cancer, and heart diseases, as per data published by CDC.
Development of Product for Use of Toddlers Opens New Growth Vistas
With conscientious efforts of product manufacturers, the development of portable oxygen concentrators for use of toddlers opens new vistas for growth in portable oxygen concentrators market. Lifechoice ActixOx Pro4L anygen concend Respironics SimplyGo Mini are some examples of portable oxygen concentrators developed for the use of toddlers.
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According to the World Health Organization, acute respiratory infections account for 4 million deaths in children each year, of which 2.6 million are infants and 1.4 million between 1 and 4 years of age. Besides this, asthma is prevalent is large numbers in children which has the risk of developing into COPD if left untreated.
Neonatal respiratory conditions occur due to several reasons such as surgical or congenital abnormalities or from pulmonary infections before and after delivery.
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Portable Oxygen Concentrators - Growth Drivers
- Expanding geriatric population world over many of whom suffer from certain chronic respiratory conditions depend on external oxygen mostly via portable oxygen concentrators to improve the quality of life. This boosts the portable oxygen concentrators market.
- High prevalence of COPD which is related to smoking, lifestyle accounts for substantial demand for portable oxygen concentrators to manage the condition.
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Portable Oxygen Concentrators Market - Key Players
- ResMed
- Medical Depot Inc.
- Precision Medical Inc.
- GCE Group
- Inogen
- Koninklijke Philips N.V.
- Invacare Corporation
- dba DeVilbiss Healthcare
- O2 Concepts LLC
- CAIRE Inc.
- Besco Medical Co. LTD
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Asthma Treatment Market: https://www.transparencymarketresearch.com/asthma-treatment-market.html
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market: https://www.transparencymarketresearch.com/chronic-obstructive-pulmonary-disease-copd-treatment-market.html
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