Monday, 22 February 2016

Oxygen Concentrators Market 2019 - Industry Share, Analysis and Forecasts Report

The oxygen concentrators market is projected to reach USD 1.9 billion by 2019. The market had previously attained revenue totaling USD 242.5 million in 2012. Demand for lighter oxygen concentrators and greater mobility support for old people are major drivers of the market. Rising cases of chronic obstructive pulmonary diseases (COPD) among adults will drive the market demand over the next 6 years.

Government initiatives like Global Initiative for Chronic Obstructive Lung Disease and funding by American Lung Association will favor the oxygen concentrators market. Introduction of devices with long battery power and deliverance of oxygen under all circumstances will boost the market growth in the years ahead.

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Portable and fixed oxygen concentrators are two products of the market. Portable oxygen concentrators dominated the market with 50% revenue in 2014. This can be attributed to its light weight and portable enough to be carried in shopping malls, offices, and airports. Fixed oxygen concentrators were valued over USD 400 million in 2014 and expect to grow at a 10% CAGR from 2013 to 2019. 

Pulse dose and continuous flow are the prominent technologies used for oxygen concentrators. Continuous flow based devices had the highest revenue share of the duo. Pulse dose based devices had a high market penetration rate due to high mobility and comfort.

North America led the oxygen concentrators market demand in 2014 on account of well-developed home healthcare services and favorable reimbursement policies in the US. Additionally, prevalent COPDs had forced market players to manufacture devices at affordable rates. Asia Pacific is the next big region for the market owing to untapped opportunities, improving healthcare, and patient awareness.

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Homecare and non-homecare are 2 applications of the oxygen concentrators market. Homecare services dominated the market out of the two, accounting over 50% revenue in 2014. Demand of pure oxygen and technological advances in oxygen therapy will increase this application’s demand over the next 6 years. Non-homecare services are primarily used in healthcare centers and hospitals. The application will experience steady growth owing to high volume of patients in these facilities. 
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