2019 Industry Insights on Homecare oxygen concentrators market | Key Players: Precision Medical Inc, Besco Medical Co, Air & Water, Inc., Longfian Scitech Co., Ltd, BOC Healthcare, Chart Industries, Inc.
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Growing geriatric population has been a major growth factor stimulating the demand for home oxygen therapies in recent past. In 2013, China’s geriatric population was 22.6 million people that will increase up to 90.4 million by 2050. Geriatric population suffers from chronic diseases such as diabetes, cancer and others that requires surgeries. Post-surgical use of home oxygen concentrators has increased and in turn boosted the industry growth.
Increasing rates of respiratory infections due to nicotine addictions and other reasons such as dust allergies is augmenting industry expansion. Moreover, increasing healthcare expenditures in developed countries such as Germany and U.S. have enabled developments in oxygen concentrators. However, stringent government regulations on home therapy for oxygen concentrators is most likely to restrict industry growth.
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Portable oxygen concentrators segment dominated industry with the market value of around USD 646 million in 2017. High market share of portable oxygen concentrators is attributed to the ease and convenience offered by these portable oxygen concentrators. Portable oxygen concentrators are mostly preferred by the geriatric population that suffers from chronic respiratory disorders. During the forecast period, ease and convenience offered by portable concentrators will augment demand.
Compressed gas oxygen cylinders segment is forecast to witness robust growth of over 10% over the forecast period owing to the advantages and benefits offered by these cylinders. Also, compressed gas oxygen cylinders are relatively cheaper than the liquid oxygen and hence are highly preferred.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Precision Medical Inc
Besco Medical Co, Air & Water, Inc.
Longfian Scitech Co. Ltd
Chart Industries Inc.
Drive DeVilbiss Healthcare
Inogen Environmental Alliance Inc
Nidek Medical Products, Inc
Philips Healthcare SL
U.S. dominated the North American homecare oxygen concentrators market in 2017 and is estimated to grow with a CAGR of 9.6% during the projection period. High growth rate of oxygen concentrators used for home therapy is attributed to the expanding geriatric population pool suffering from chronic diseases. Furthermore, escalating prevalence of COPD and bronchitis will drive the demand for home oxygen therapy. Portable home oxygen concentrators are more efficient with a long battery life have impacted the industry growth positively.
Germany homecare oxygen concentrators market accounted for USD 37.9 million in 2017 owing to high technology adoption rates that aids improvisations in the oxygen concentrators. Increasing healthcare expenditures have initiated modifications in the existing home oxygen concentrators which will surge industry growth during forecast time-frame.
Homecare Oxygen Concentrators Market Size By Product
o Portable Oxygen Concentrators
o Compressed Gas Oxygen Cylinders
o Liquid Oxygen
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