The global portable oxygen concentrators market 2019-2023 is expected to post a CAGR of close to 11% during the forecast period, according to the latest market research report by Technavio.
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Technavio predicts the global portable oxygen concentrators market to post a CAGR of close to 11% by 2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing number of product launches. Vendors are launching new models of portable oxygen concentrators in the market such as lightweight portable oxygen concentrators to stimulate the demand and their market shares. Companies are focusing on developing lightweight portable oxygen concentrators for people who are suffering from COPD and asthma. Also, companies are focusing on developing portable oxygen concentrators with wireless connections. This can help healthcare professionals to conduct remote monitoring which can indeed benefit patients. Thus, the increasing number of product launches such as lightweight portable oxygen concentrators and wireless portable oxygen concentrators will boost market growth during the forecast period.
This market research report on the global portable oxygen concentrators market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emerging mobile medical clinics as one of the key emerging trends in the global portable oxygen concentrators market:
Global portable oxygen concentrators market: Emerging mobile medical clinics
Mobile medical clinics are set up in vehicles such as vans. These clinics provide patient-friendly medical treatment, nursing staff and medical examination. Also, mobile medical clinics provide various treatments for lungs, cardiac and trauma conditions. The rising use of medical vans may increase the demand for portable oxygen concentrators during the forecast period.
“With the developing medical infrastructure, mobile medical clinics are set up to provide either free medical care or medical care at a lower cost, depending on the need of the individual. For instance, in January 2017, Wockhardt Foundation, in India, launched 1000 healthcare vans. This was aimed at bridging the gaps in the delivery of healthcare services to rural India,” says a senior analyst at Technavio.
Global portable oxygen concentrators market: Segmentation analysis
This market research report segments the global portable oxygen concentrators market by product (pulse dose and continuous flow) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of 45%, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the increasing number of product launches and rising awareness programs on respiratory health conditions.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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