Tuesday, 9 February 2016

Portable Oxygen Concentrators Market Shares, Analysis, Forecasts, Applications, Ongoing Trends, Growth Prospects & Challenges by 2021

The Portable Oxygen Concentrators Market is projected to reach USD 2.2 billion by 2021. It had a previous turnaround of USD 744 million in 2014. Major factors for growth in the market are the geriatric population and need for oxygen. Demand for pure oxygen in the light of recent events of rising pollution levels will drive the market demand.

A portable oxygen concentrator (POC) is a portable device used to provide oxygen to patients requiring oxygen therapy. These devices are safer and less expensive than compressed oxygen cylinders. It increases the oxygen concentration by taking the air from its surrounding. These devices are used by mountaineers while climbing places with limited amount of oxygen. It has been approved by the FAA (Federal Aviation Administration) to be used on airplanes in case of an emergency. Increasing number of people with COPD (chronic obstructive pulmonary disease) has opened up growth avenues for the portable oxygen concentrators market.

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Products in the portable oxygen concentrators market are pulse dose and continuous flow system. Pulse dose system is the commonly used oxygen concentrator on account of its light weight and long battery lasting 8 hours on a single battery charge. Continuous flow systems are required by people suffering from sleep apnea and other related diseases. 
Oxygen concentrators have become light and portable making it convenience for the user. This has led market players to invent a better portable concentrator to gain a competitive advantage. The market sees the geriatric population as a viable area for expanding its product base. 

North America and Europe are currently dominating the portable oxygen concentrators market on account of high levels of consumer awareness. In Asia Pacific, India, China, Australia, and Japan are expected to lead over the forecast period (2015-2021). Brazil and Mexico will lead the regional market in Latin America owing to increased medical expenditure in the region.

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Prominent players of the portable oxygen concentrators market are Philips Respironics, AirSep, Inogen, Invacare, and Teijin. Inogen has dominated the market with innovative marketing and sophisticated technology. Invacare is expanding its distribution network slowly to gain a better foothold in the market.

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