Press release
Portable Oxygen Concentrators Market Growth to $2.9 billion in 2023
Portable Oxygen Concentrators Market
Portable oxygen concentrators are approved by the FAA for use on airlines. People on oxygen wish to continue usual activities. Distributors are concentrated on determining which portable oxygen concentrator allows the freedom to continue a meaningful lifestyle. There are two types of oxygen delivery systems providing supplemental oxygen therapy; continuous flow (Respironics SimplyGo, SeQual Eclipes,) and pulse dose (Inogen One G3, AirSep Freestyle, Invacare XPO2).
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A pulse dose system is the most commonly used portable oxygen concentrator. Because of its light weight and long battery life, some lasting up to 8 hours on a single battery charge, the units are preferred by patients. Some oxygen users require continuous flow oxygen due to their diagnosis or illness progress. Continuous flow is required by any oxygen user who is titrating oxygen into their CPAP or BiPAP therapy.
Major factors driving the market for portable oxygen concentrators include device ability to provide oxygen under all circumstances. The worldwide aging population benefits from supplemental medical oxygen. An increase in the number of people with COPD and other respiratory diseases are a direct market driver. Advantages of portable oxygen concentrator devices are that they weigh less, are easy to use. They are affordable.
The complexion of the home oxygen market is changing. Home oxygen markets have been predicated on a dealer infrastructure. These dealers get reimbursed for regular deliveries of oxygen used in the home, and for supplemental oxygen so the patient can go out, buy groceries, go to the movies, and visit family for a short time. The advent of reliable, inexpensive portable home oxygen concentrators has changed the market dynamic significantly.
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The economics of the medical oxygen market have been changing for a long time. No longer do patients need regular deliveries of oxygen for supplemental purposes so the patient can go out. Even patient stationary device at home with refill capacity that works to go out of the home is outdated.CMS Medicare and the private insurers that follow their lead have been resisting paying for supplemental oxygen because the price of truck rolls is too high. With lowered reimbursement, the dealer distribution network that has been in place for many years is no longer tenable.
Inogen has implemented a direct to consumer market strategy, with sales of oxygen devices conducted over the Internet.
“Technology has achieved major breakthroughs for portable oxygen concentrator units. Smaller and lighter units are of benefit to patients, supporting the ability to carry the devices easily, permitting the implementation of a direct to consumer market strategy.”
A few companies dominate the portable oxygen concentrator market sector. Inogen has taken over the market leadership position with improved technology and innovative marketing. Invacare had carefully nurtured its distribution network and continues to do so, but the markets are changing with deliveries from dealers a problem in the industry and for reimbursement, giving Inogen market advantage.
Portable oxygen concentrator markets at $948.5 million market in 2016 are set to become a $2.9 billion market in 2023. Market growth is a result of the aging of the population and the increased need for oxygen.
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Companies Profiled
Market Leaders
• Inogen
• Philips / Respironics
• Chart / Caire / SeQual
• AirSep
• NTK
• Drive / Devilbiss
• O2Concepts Oxlife
Market Participants
• Applied Home Healthcare Equipment
• Besco
• Chart Industries
• Drive DeVilbiss Healthcare
• First Class Medical
• Foshan Keyhub Electronic Industries Co., Ltd.
• Gardner Denver / Thomas Compressors
• GSE
• Inogen
• Invacare
• Jiuxin Medical
• Leistung Engineering
• Longfian Scitech
• Merits
• Nidek Medical
• NTK
• Precision Medical
• O2 Concepts
• Philips Healthcare / Respironics
• ResMed
• Zadro Health Solutions
Key Topics
• Oxygen Concentrator
• Portable Oxygen Concentrators
• Homecare
• Home Oxygen
• Home Medical Equipment
• Oxygen Therapy
• Managed Care
• Non-Acute Health Care
• Unified Supply Network
• Portable Pulsed Delivery Oxygen
• Portable Continuous Pressure Oxygen
• Portable Pulsed Oxygen
• Patients on Oxygen
• Home Oxygen Reimbursement
• Homefill Oxygen Concentrator
• Portable Oxygen Concentrators Market Share
• Portable Oxygen Concentrators Market Forecasts
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