Report : Asia Pacific Portable Oxygen Concentrators Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type (Continuous Flow, Pulse Flow); Application (COPD, Asthma, Respiratory Distress Syndrome, Others); End User (Hospitals, Homecare Settings, Others); and Geography
Rising Adoption of Homecare Products to be a Prevalent Trend in the Portable Oxygen Concentrators Market
According to The Insight Partners market research study of ‘Asia-PacificPortable Oxygen Concentrators Marketto 2027 – Regional Analysis and Forecasts by ProductType, Application, and End User,’ the Asia-Pacificportable oxygen concentrators market is expected to reach US$ 610.17 million in 2027 from US$ 310.90 million in 2019. The market is estimated to grow with a CAGR of 8.9% from 2020-2027. The market is expected to witness a substantial growth due to driving factors such as increasing number of patients suffering with COVID-19 and rising prevalence of respiratory diseases. However, the high prices of the portable oxygen concentrators are expected to hinder the market growth.
The advancement and development in the sector are increasing in the last few years. The market for portable oxygen concentrator devices is expected to grow, owing to factors such as higher adoption of home care products depending upon patient’s feasibility. Portable oxygen concentrators dispense oxygen in the exact same way as that of oxygen tanks. Instead of the limited amount of pressurized oxygen that can be used through the oxygen tanks, oxygen concentrators use a filtering system that takes ambient air in from around the patient, compress it and modify it to medical-grade standards, making it ideal for patient delivery.
People suffering with chronic respiratory diseases that have requirement of oxygen supplements at home and during travel usually prefers these concentrators due to their portability and ease of use. Greater versatility, lightweight nature, upfront costs and unlimited oxygen are some of the factors that make these devices ideal for home care. Thus, increasing preference of homecare products are expected to provide an impetus for the growth of the portable oxygen concentrators devices market during the forecast period.
Besco Medical, Inogen, Inc., Koninklijke Philips N.V., CAIRE, Inc., and Invacare Corporationare some of the leading companies operating in the Asia-Pacificportable oxygen concentrators market.
The report segments Asia-Pacific Portable Oxygen Concentrators Market as follows:
Asia-Pacific Portable Oxygen Concentrators Market– By Product Type
Asia-Pacific Portable Oxygen Concentrators Market– By Application
Asia-Pacific Portable Oxygen Concentrators Market – By End User
Asia-Pacific Portable Oxygen Concentrators Market– By Geography