Portable Oxygen Concentrators Market Size to Worth US$ 2.7 Billion By 2028 | With a 8.3% CAGR

IMARC Group, a leading market research company, has released a report titled "Portable Oxygen Concentrators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". According to the report, The global portable oxygen concentrators market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

A portable oxygen concentrator (POC) is a medical device designed to deliver a concentrated stream of oxygen to individuals with respiratory conditions who require supplemental oxygen. Unlike traditional oxygen tanks, which are bulky and need frequent refilling, portable oxygen concentrators are compact, lightweight, and allow for increased mobility and independence for patients. These devices have revolutionized the way oxygen therapy is administered, enhancing the quality of life for millions of people worldwide. The primary function of a portable oxygen concentrator is to extract and purify oxygen from the surrounding air, concentrating it to a higher level for the user to breathe in. The process involves drawing in atmospheric air, passing it through filters to remove nitrogen and other gases, and delivering a continuous flow of purified oxygen through a nasal cannula or a face mask. Some models offer adjustable flow rates to cater to individual patient needs. The portability of these devices is their most significant advantage. Patients can carry them easily, whether traveling, shopping, or engaging in various daily activities. This mobility fosters greater freedom and flexibility in the lives of those who rely on supplemental oxygen. Additionally, the use of POCs often eliminates the need for home oxygen delivery services, as users can charge the devices and use them while on the go.

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Portable Oxygen Concentrators Market Trends and Drivers:

The increasing prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD), asthma, and other lung-related disorders, is one of the primary drivers of the POC market. As the global population ages and environmental pollution worsens, the incidence of respiratory conditions has been on the rise, necessitating the use of oxygen therapy devices like POCs. Additionally, the world's population is aging, leading to a higher number of individuals susceptible to respiratory ailments and other chronic conditions. The elderly population is more likely to require oxygen therapy due to the natural decline in lung function that occurs with age. POCs offer a practical solution for oxygen delivery, allowing seniors to maintain their independence and quality of life. Other than this, there has been a growing awareness among patients and healthcare professionals about the benefits of using portable oxygen concentrators. As more information becomes available about their effectiveness and convenience, the acceptance and adoption of POCs have increased, driving market growth. Besides this, with a shift towards home-based healthcare services, patients prefer treatments that allow them to manage their conditions within the comfort of their homes. Portable oxygen concentrators facilitate this trend, as they enable patients to receive oxygen therapy without being confined to a hospital or clinic setting. In line with this, the availability of favorable reimbursement policies and insurance coverage for portable oxygen concentrators has been another factor contributing to market growth. When patients can access POCs at reduced costs through insurance, it incentivizes their usage and boosts market demand.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Technology:

Continuous Flow
Pulse Flow

Breakup by Application:

Chronic Obstructive Pulmonary Disease (COPD)
Asthma
Respiratory Distress Syndrome
Sleep Apnea
Others

Breakup by End User:

Hospitals
Ambulatory Surgery Centers
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
The Middle East and Africa

Competitive Landscape with Key Player:

Caire Inc. (NGK Spark Plug Co. Ltd)
Chart Industries Inc.
Drive Devilbiss Healthcare Limited (Drive International LLC)
Inogen Inc.
Invacare Corporation
Koninklijke Philips N.V.
Nidek Medical India Pvt Ltd
O2 Concepts LLC
Precision Medical Inc. (BioHorizons Inc.)
Resmed Inc.
Teijin Limited.

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