|09-14-2017 01:20 PM CET - Health & Medicine||
Homecare Oxygen Concentrators Market to see phenomenal growth of 12.0% from 2016 to 2023
Press release from: Global Market Insights, Inc.
The global industry report "Homecare Oxygen Concentrators Market Size By Product (Portable Oxygen Concentrators, Compressed Gas Oxygen Cylinders, Liquid Oxygen), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, Brazil, South Africa), Price Trends, Competitive Market Share & Forecast, 2016 – 2023" by Global Market Insights, Inc. says Homecare Oxygen Concentrators Market size will exceed USD 1.5 billion by 2023.
Growing healthcare expenditure, disposable income trends and the favorable reforms will drive homecare oxygen concentrators market size. Improvement in healthcare infrastructure coupled with introduction of technologically advanced homecare devices should propel industry growth.
High prevalence of chronic pulmonary and respiratory disorders along with rapid adoption of home healthcare services for patient care should stimulate global homecare oxygen concentrators market size. Spurring geriatric population and increasing exposure to dust and pollution will also accelerate homecare oxygen concentrators demand, fueling the industry growth.
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Homecare oxygen concentrators market growth should be restrained by the strict government regulations and longer approval time for medical devices. Presence of environmental guidelines for use and disposal of oxygen concentrators by-products should also hamper industry expansion.
Portable home oxygen concentrators led the industry growth with over USD 480 million for 2015. It is the most widely used homecare oxygen concentrator owing to its ease of use, light weight and ability to provide effective care to the patients suffering from COPD and other respiratory diseases.
Liquid oxygen is the fastest growing business segment with industry size set to exceed USD 125 million by 2024. Some of the factors contributing to its high growth are its capacity to store more oxygen volume in lesser space, light weight and its affordability due to no electricity consumption. Some of the key companies operating in homecare oxygen concentrators market space include Covidien, Teijen, Precision Medical, Invacare, AirSep, Yuwell, BOC Healthcare, Nidek Medical, Drive DeVilbiss Healthcare, and Philips Healthcare.
Browse key industry insights spread across 75 pages with 26 market data tables & 9 figures & charts from this 2017 report Homecare Oxygen Concentrators Market in detail along with the table of contents at:
U.S. homecare oxygen concentrators market share was over 88% of regional revenue in 2015. High prevalence of respiratory diseases, rising demand for home healthcare for geriatric population and growing adoption of innovative products will drive business growth. Presence of favorable regulatory and reimbursement policies should also boost industry growth.
Germany homecare oxygen concentrators market share accounted for over 31% of regional revenue in 2015. Large unmet needs for home healthcare services and increased prevalence of COPD will fuel Industry growth. Presence of large number of industry players will also stimulate business expansion.
UK homecare oxygen concentrators market should witness lucrative growth over forecast years to reach USD 118 million by 2023. Increasing geriatric population, improved healthcare services and rapid growth related to new product development should drive industry growth.
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Japan should propel regional homecare oxygen concentrators market growth on account of its rising disposable income and favorable government initiatives to control healthcare costs. Japan homecare oxygen concentrators market size was over USD 52 million in 2015 and anticipated to exceed USD 138 million by 2023. New product development and market expansion through strategic collaborations are the most commonly adopted strategies in the competitive market space.
Browse Related Reports:
Medical Oxygen Concentrators Market Size By Product (Portable, Fixed), By Application (Home Care, Non-Home Care), By Technology (Pulse Dose, Continuous Flow), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, China, South Africa, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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