Homecare Oxygen Concentrators Market Trends

Homecare Oxygen Concentrators Market Trends

The market growth is driven by the increasing prevalence of chronic respiratory diseases, especially, in developed countries which is accelerating the demand for therapeutic respiratory devices. Increasing prevalence rate is owing to several risk factors such as sedentary lifestyle, smoking habits, and environmental exposure among others.  

• The chronic obstructive pulmonary disease (COPD) and asthma are among the leading respiratory diseases across the world, thereby resulting in increasing respiratory disease testing. For instance, as per WHO, about 90% of deaths related to COPD occur in individuals under 70 years of age. Thus, increasing need for additional oxygen supply in COPD treatment will augment the market progress.
   
• Further, based on statistics, the Medicare penetration rate for portable oxygen concentrators (POCs) in the U.S. has been rising steadily. For instance, in 2021, the POC penetration was 22.0% while that of stationary was 17%. This will positively impact the demand for homecare oxygen concentrators in the future.