Growth of Portable Oxygen Concentrators market in Global Industry : Research and Forecast 2017-2023
Portable oxygen concentrators are authorized by the FAA for its use on airlines. Distributors are focused on detecting which portable oxygen concentrator permits the freedom to have a long lasting meaningful lifestyle.
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A pulse dose system is the most regularly utilized portable oxygen concentrator. Due to its low weight and durable battery life, it is generally preferred by the patients. Some patients need a continuous flow of oxygen because of the diagnosis or the progression of their illness. Pulse dose system is capable enough to provide oxygen in such situations.
Key factor driving the growth of the global portable oxygen concentrator market is the ability of these devices to supply oxygen under any circumstances. Increasing elderly population with COPD or other respiratory diseases, advent of supplemental oxygen, and easy to use equipment are some of the other factors that are driving the growth of the global portable oxygen concentrator market.
The 2017 study has 493 pages, 201 tables and figures. Worldwide markets are poised to achieve continuing growth. Portable oxygen concentrators support lifestyle for medical oxygen users.
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.
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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Philips / Respironics
Chart / Caire / SeQual
Drive / Devilbiss
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