Homecare Oxygen Concentrators Industry

Homecare Oxygen Concentrators Market Overview, Industry Top Manufactures, Size, Growth Analysis & Forecast: 2024

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This global Homecare Oxygen Concentrators market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Homecare Oxygen Concentrators Market will exceed USD 1.7 billion by 2024; as per a new research report.

The homecare oxygen concentrators market will experience high CAGR of over 10% during forecast timeframe due to increasing burden of respiratory diseases such as chronic pulmonary disorders, bronchitis and asthma. In 2017, around 16 million Americans were diagnosed with COPD requiring critical care and continuous long-term home oxygen therapy hence, escalating the demand for homecare oxygen concentrators.

In addition to the above-mentioned factor, growth of the industry is also be attributed to the growing geriatric population being more susceptible to chronic disorders. According to Japan Census Report, in 2017, Japans elderly population was around 26.7% of the total population that will increase the demand for homecare oxygen therapies as prevalence of respiratory disorders is high amongst this population. Moreover, medical insurance providers have also developed reimbursement policies for geriatric population resolving the affordability issues and propelling industry growth.

Rising government initiatives will also influence the homecare oxygen concentrators market positively. Initiatives such as organizing awareness programs to educate masses regarding respiratory disorders have led to increased patient awareness levels. For instance, the National Heart, Lung, and Blood Institute develops educational programs, and launched COPD Learn More Breathe Better (LMBB) campaign to raise awareness and educate the public about COPD that will boost the industry growth considerably.

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U.S. homecare oxygen concentrators market will grow at a CAGR of 9.6% during the forecast period due to increasing prevalence of respiratory diseases. Rising number of cigarette smokers and growing pollution rates are responsible for respiratory diseases amongst the individuals stimulating the overall market growth.

Germany market growth is attributed to high technology adoption rates and it held a market share of around USD 37 million in 2017. Major industry players involved in manufacturing of homecare oxygen concentrators have integrated advanced technology within these concentrators that enables the release of appropriate amounts of oxygen in the patient?s body; thereby, escalating the demand for home oxygen concentrators.

Some of the notable players operating in home oxygen concentrators market are Precision Medical, Inc, Besco Medical Co, Air Water Inc., Yuwell, Longifian Scitech Co, BOC Healthcare, Chart Industries, Drive DeVilbiss Healthcare Inc., Inogen Inc, Inova Labs, Invacare Corporation, NIDEK Medical Product, Inc, O2 Concepts, Philips Healthcare, Teijin Limited.

Homecare oxygen concentrators market is slightly oligopolistic in nature with a few companies dominating the market with high revenues. Initiative steps and strategic decisions  undertaken by such companies have helped them to sustain the competition by maintaining the market share. For instance, in December 2015, Inogen, Inc. released Inogen G3 oxygen concentrator, an improved Inogen One G3 that include 25% additional oxygen production at the same size and weight, with reduced sound levels. Development of such new products will improvise the product offerings thereby generating high profits for the company.

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Table of Content:

Chapter 1.   Methodology

Chapter 2.   Executive Summary

Chapter 3.  SAR in Space Sector Industry Insights

Chapter 4.   Home oxygen concentrators Market, By Product

Chapter 5.  Home oxygen concentrators Market, By Region

Chapter 6.  Company Profiles

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Homecare Oxygen Concentrators Market Soaring at 12.0%CAGR During the Period 2016-2023

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MaketStudyReport.com adds a New Homecare Oxygen Concentrators Market Research Report for the period of 2016-2023 that shows the growth of the market is rising at 2023.

Homecare Homecare Oxygen Concentrators Market size will exceed USD 1.5 billion by 2023; as per a new research.

Growing healthcare expenditure, disposable income trends and the favorable reforms will drive homecare Homecare Oxygen concentrators market size. Improvement in healthcare infrastructure coupled with introduction of technologically advanced homecare devices should propel industry growth.

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Growth drivers:

Government initiatives

Increasing elderly population base prone to COPD

Increased spending on healthcare

Growing COPD prevalence

Exposure to dust particles and increased number of cigarette smokers

High prevalence of chronic pulmonary and respiratory disorders along with rapid adoption of home healthcare services for patient care should stimulate global homecare Homecare Oxygen concentrators market size. Spurring geriatric population and increasing exposure to dust and pollution will also accelerate homecare Homecare Oxygen concentrators demand, fueling the industry growth.

Homecare Homecare Oxygen concentrators market growth should be restrained by the strict government regulations and longer approval time for medical devices.  Presence of environmental guidelines for use and disposal of Homecare Oxygen concentrators by-products should also hamper industry expansion.

Portable home Homecare Oxygen concentrators led the industry growth with over USD 480 million for 2015. It is the most widely used homecare Homecare Oxygen concentrator owing to its ease of use, light weight and ability to provide effective care to the patients suffering from COPD and other respiratory diseases.

Liquid Homecare Oxygen is the fastest growing business segment with industry size set to exceed USD 125 million by 2024. Some of the factors contributing to its high growth are its capacity to store more Homecare Oxygen volume in lesser space, light weight and its affordability due to no electricity consumption. Some of the key companies operating in homecare Homecare Oxygen concentrators market space include Covidien, Teijen, Precision Medical, Invacare, AirSep, Yuwell, BOC Healthcare, Nidek Medical, Drive DeVilbiss Healthcare, and Philips Healthcare.

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U.S. homecare Homecare Oxygen concentrators market share was over 88% of regional revenue in 2015. High prevalence of respiratory diseases, rising demand for home healthcare for geriatric population and growing adoption of innovative products will drive business growth. Presence of favorable regulatory and reimbursement policies should also boost industry growth.

Germany homecare Homecare Oxygen concentrators market share accounted for over 31% of regional revenue in 2015. Large unmet needs for home healthcare services and increased prevalence of COPD will fuel Industry growth. Presence of large number of industry players will also stimulate business expansion.

UK homecare Homecare Oxygen concentrators market should witness lucrative growth over forecast years to reach USD 118 million by 2023. Increasing geriatric population, improved healthcare services and rapid growth related to new product development should drive industry growth.

Japan should propel regional homecare Homecare Oxygen concentrators market growth on account of its rising disposable income and favorable government initiatives to control healthcare costs. Japan homecare Homecare Oxygen concentrators market size was over USD 52 million in 2015 and anticipated to exceed USD 138 million by 2023. New product development and market expansion through strategic collaborations are the most commonly adopted strategies in the competitive market space.

Homecare Oxygen Concentrators Market By Product: Portable home Homecare Oxygen Concentrators, Compressed gas Homecare Oxygen cylinders, Liquid Homecare Oxygen.

The above information has been provided on a regional and country basis for the following:

North America, U.S., Canada, Europe, Germany, UK, Asia Pacific, China, Japan, Latin America, Brazil, MEA, South Africa.

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