Homecare Oxygen Concentrators Market size to exceed $2.1bn by 2028

Homecare Oxygen Concentrators Market size is set to surpass USD 2.1 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Rising tobacco consumption and smoking will drive the business landscape. According to the Centers for Disease Control and Prevention (CDC), about 40 million adults in the U.S. are habitual to smoking, with nearly 4.7 million high school students using at least one of the tobacco products. Increasing consumption rate leads to development of respiratory diseases among these individuals. Thus, higher prevalence of such conditions requiring oxygen therapy is expected to boost the demand for homecare oxygen concentrators.
 

Ease of use and compatibility of homecare oxygen concentrators in home settings will further augment the homecare oxygen concentrators market expansion. Several advantages including continuous support without affecting daily activities, mobility allowing ease in travelling and reduced need for long-term hospitalization will fuel the industry size. The developed devices that can be powered by a battery as well as a power source to provide convenience to patients allows effective usage. Further, the advantages associated with use of modern portable oxygen concentrators for homecare including improved mental alertness, better sleep, tolerance for physical exercise, and improved quality of life will lead to escalated product demand.
 

Patients requiring continuous home therapy will accelerate the market forecasts

Fixed oxygen concentrators segment accounted for over 52% revenue share in 2021. The economic benefit associated with fixed oxygen concentrators for long-term oxygen therapy influenced its adoption across the developing countries. Additionally, continuous flow of oxygen without interruption will propel the demand for fixed oxygen concentrators. Moreover, increasing investment in product development to further provide convenience and ease of use will impel the market progression.
 

Browse key Industry insights spread across 100 pages with 99 market data tables & 11 figures & charts from the report, “Homecare Oxygen Concentrators Market By Product (Portable Oxygen Concentrators, Fixed Oxygen Concentrators), Technology (Continuous Flow, Pulse Flow), Industry Analysis Report, Regional Outlook, Growth Potential, Price trends, Competitive Market Share & Forecast, 2022-2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/homecare-oxygen-concentrators-market
 

Benefit of optimized oxygen delivery with pulse flow technology will drive the market revenue

Homecare oxygen concentrators market from pulse flow segment is projected to exhibit 7.5% CAGR from 2022 to 2028. Pulse flow is considered as more convenient and efficient option for patients requiring short pulses and lead an active lifestyle. As a result, regular air travelers, working professionals, and athletes with COPD or other respiratory problems are increasingly opting for concentrators based on this technology. Additionally, oxygen delivery customized according to the patients’ rate of breathing enhances its efficacy. Thus, the aforementioned factors are expected to foster the business development.
 

Increasing prevalence of COPD across the Europe will propel the market growth

Europe homecare oxygen concentrators market captured more than 27% revenue share in 2021. Growing adoption of homecare devices offering efficient treatment for various diseases will boost the regional industry outlook. Furthermore, several beneficial factors such as increasing healthcare spending, expanding product availability, and awareness regarding available treatments among patents will spur the regional market statistics. As the elderly population is more susceptible to respiratory disorders such COPD, asthma, and pulmonary hypertension, rising geriatric population will influence the demand for homecare oxygen concentrators.
 

Adoption of business development strategies by the market players will enable them to generate higher revenues

Some of the prominent business leaders operating in the homecare oxygen concentrators industry include Precision Medical, Inc, Besco Medical Co, Air Water Inc, Yuwell (iangsu Yuyue Medical Equipment and Supply Co., Ltd.), Longfian Scitech Co, BOC Healthcare (The Linde Group), Chart Industries, Drive DeVibiss Healthcare Inc, Innogen Inc, Inova Labs Inc. (ResMed), NIDEK Medical Products, Inc., O2 Concepts, and Koninklijke Philips N.V. These companies are involved in various strategic activities such as mergers & acquisitions and product launches to gain the competitive advantage in homecare oxygen concentrators business.