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Market Overview of Global Portable Oxygen Concentrators market:
According to our latest research, the global Portable Oxygen Concentrators market looks promising in the next 5 years. As of 2022, the global Portable Oxygen Concentrators market was estimated at USD 1205.89 million, and it's anticipated to reach USD 2216.03 million in 2028, with a CAGR of 10.67% during the forecast years.
Portable Oxygen Concentrators refers to a device that produces oxygen through some technologies to provide oxygen to users. Such as molecular sieve, electrolytic oxygen production, polymer oxygen permeable membrane oxygen production, chemical oxygen production and other methods. The main advantage of Portable Oxygen Concentrators is that no oxygen storage equipment and fixed oxygen source are needed. For example, when continuous oxygen supply is required, the cost is lower, which is more convenient for people who continue to inhale oxygen.
The pandemic of the COVID-19 virus
For the Portable Oxygen Concentrators industry, the pandemic of the COVID-19 virus provides opportunities for the development of the industry. Because COVID-19 is a respiratory virus, people with respiratory diseases such as asthma, chronic obstructive pulmonary disease, emphysema, and bronchitis are extremely susceptible to infection. The virus can trigger asthma attacks and escalate chronic lung diseases into more serious diseases, such as pneumonia. At this time, Portable Oxygen Concentrators are very helpful to provide patients with supplemental oxygen or relieve breathing difficulties, thereby speeding up the body's healing process. Patients with asthma, chronic obstructive pulmonary disease (COPD) and other lung diseases need these devices to maintain adequate oxygen levels. At the same time, as the coronavirus disease (COVID-19) pandemic continues to spread globally, the demand for POC in medical centers has increased significantly. For example, in India, with the surge of COVID cases, the demand for oxygen has increased, and several hospitals have tested the situation of insufficient supply. Therefore, the Indian government purchased 100,000 portable oxygen generators from PM Cares Fund in April 2021. Mainly dedicated to improving the oxygen supply of regional headquarters and second-tier cities. It can be seen that the pandemic of the epidemic provides opportunities for the development of the industry.
Strict supervision procedures
For the Portable Oxygen Concentrators industry, its strict regulatory procedures have brought challenges to the development of the market. Such as a certification regarding the use of Portable Oxygen Concentrators on aircraft. Some airlines only accept the list of POC equipment certified by the US FAA. FAA has conducted electronic equipment interference testing and authorization for some products of specific manufacturers, marked on these POC products, provided a certification list, and indicated in red font. These product-related regulatory measures have brought challenges to manufacturers to a certain extent.
Risks of new product development
For the Portable Oxygen Concentrators industry, its industry is technology-intensive and knowledge-intensive. For manufacturers, their core competitiveness is reflected in the innovation of Portable Oxygen Concentrators products. At the same time, with the improvement of technology and people's living standards, patients and doctors have put forward higher requirements for product quality. Therefore, manufacturers must maintain a strong ability to continuously develop new products. However, the development of new products and processes is restricted by various objective conditions, and there is a risk of development failure. If new products cannot be developed according to the plan, the company's market expansion plan and its competitive advantage in the industry will be affected.
In addition, for the Portable Oxygen Concentrators industry, the products have to undergo a series of audits and tests after they are developed. Such as testing for product safety. The time for these tests has also become a cost to the enterprise. Therefore, there are risks in the research and development of new products within the industry.
Region Overview:
North America dominated the Portable Oxygen Concentrators market in 2022, with a market share of 41.16%.
Company Overview:
Philips is one of the major players operating in the Portable Oxygen Concentrators market, holding a share of 20.33% in 2023.
Philips
Philips regards healthcare as an interconnected whole. Help people live healthy lives and prevent diseases. Provide clinicians with the tools needed for accurate diagnosis and personalized treatment. Help patients recover at home in the community. All of these are supported by seamless data flow.
Inogen
Inogen provides innovative and effective respiratory products for use in home care environments to improve the health, well-being and independence of patients. Inogen is committed to understanding and meeting customer needs, providing reliable and high-quality products, maintaining an effective quality system and maintaining compliance.
Segmentation Overview:
By type, Molecular Sieve Oxygen Concentrator segment accounted for the largest share of market in 2022.
Molecular Sieve Oxygen Concentrator
Molecular Sieve Oxygen Concentrator mainly refers to the use of gas separation technology (PSA method) to produce oxygen. Molecular Sieve Oxygen Concentrator is an oxygen generator. It inhales air and sends it to molecular sieve 13x desiccant and other beds to help concentrate the oxygen in the room to provide a level of therapeutic delivery to the patient.
Macromolecule Oxygen Permeable Membrane Oxygen Concentrator
Oxygen production by oxygen-enriched membrane uses the characteristic of polymer oxygen-enriched membrane to allow oxygen molecules in the air to pass preferentially to collect high-concentration oxygen and deliver it to users. The molecular membrane layer is made of a polymer material, and oxygen and nitrogen in the air pass through the polymer membrane layer at different rates, so as to realize the separation of nitrogen and oxygen.
Electrolysis Oxygen Concentrator
Electrolysis Oxygen Concentrator mainly refers to the preparation of oxygen by the method of electrolysis oxygen.
Chemical Oxygen Concentrator
Chemical Oxygen Concentrator mainly refers to the use of reasonable pharmaceutical formulations to produce oxygen under specific conditions. This kind of oxygen generator can indeed meet the urgent needs of some consumers, but the operation is troublesome, the use cost is high, and it cannot be used continuously, so it is not suitable for home oxygen therapy.
Application Overview:
By application, the Household segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Portable Oxygen Concentrators market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Portable Oxygen Concentrators Market Report:
Market Size Estimates: Portable Oxygen Concentrators market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Portable Oxygen Concentrators market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Portable Oxygen Concentrators market
Segment Market Analysis: Portable Oxygen Concentrators market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Portable Oxygen Concentrators market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Portable Oxygen Concentrators Market: Revenue and sales volume of major countries in each region
Portable Oxygen Concentrators Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Portable Oxygen Concentrators market in major regions.
Portable Oxygen Concentrators Industry Value Chain: Portable Oxygen Concentrators market raw materials & suppliers, manufacturing process, distributors, downstream customers
Portable Oxygen Concentrators Industry News, Policies & Regulations
Key players in the global Portable Oxygen Concentrators market are covered in Chapter 12:
Drive DeVilbiss Healthcare, Inc
Teijin
CAIRE Inc.
Precision Medical
Resmed
Philips
GCE Group
Inogen
Omron
Invacare
Jiangsu Yuyue Mdcl Eqpmnt & Spply Co Ltd
In Chapter 2 and Chapter 15.1, based on types, the Portable Oxygen Concentrators market from 2018 to 2028 is primarily split into:
Molecular Sieve Oxygen Concentrator
Macromolecule Oxygen Permeable Membrane Oxygen Concentrator
Electrolysis Oxygen Concentrator
Chemical Oxygen Concentrator
Other
In Chapter 3 and Chapter 15.2, based on applications, the Portable Oxygen Concentrators market from 2018 to 2028 covers:
Traveling
Household
Other
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Portable Oxygen Concentrators market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028