Oxygen Concentrator Market Growth Is Driven by The Rise In Smoking Population
The U.S. accounts for the largest share of the global oxygen concentrator market, followed by Europe, due to growing consumer awareness, rising incidences of COPD and demographic changes. COPD is known to be the fourth leading cause of death in the U.S. and the number has been dangerously rising, increasing the use of respiratory care devices. The change in lifestyle across the globe has led to an alarming rise in smoking population which has also fuelled the growth of the oxygen concentrator industry.
After the Federal Aviation Administration approved the onboard use of certain portable oxygen concentrators, its applications have widened. Among the Asia-Pacific countries, India, China, Australia and Japan have been identified as emerging markets, and Latin American nations such as Brazil and Mexico are expected to register substantial growth.
The market for oxygen concentrators has undergone significant changes and improvement with the introduction of portable technology. The devices have become lighter, more powerful and affordable, leading to increasing demand in the homecare department. Rising worldwide geriatric population means rise in homecare oxygen treatment. People with respiratory conditions such as chronic obstructive pulmonary disease (COPD), chronic bronchitis and emphysema have benefitted greatly with innovations in oxygen concentrator technology. Some of the new and improved versions of the standard large and bulky devices include AirSep’s LifeStyle Portable Oxygen Concentrator, Inogen One G3, VBOX Trooper, EverGo, Invacare XPO2 and iGo.
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As the demand for lighter technology by consumers and need for better mobility support for the aged rises, new competitors enter the market, thereby driving innovations. This has resulted in high-quality devices at lower prices.
This study covers, defines and classifies the oxygen concentrator market in terms of volume and value, and provides a qualitative as well as quantitative analysis of the industry. Broadly classifying the market by geography, the report focuses on the high potential countries and tracks the development of the oxygen concentrator market during the forecast period of 2012 to 2018.
The report explains the basic structure of the industry, dynamics and scope, and provides an inclusive review of the growth challenges, drivers, opportunities and trends. The TMR report also identifies and analyses the leading players along with their individual strengths and weaknesses. It tracks the profit or loss incurred by companies, collaboration and investment strategies, market share and their overall contribution to the global oxygen concentrator market.
Some of the major companies that feature in the global oxygen concentrator market report include Bio-Med Devices, Invacare Philips Healthcare, CareFusion, DeVilbiss Healthcare Sequal, Jiangxi Teli Anesthesia and Respiration Equipment, Newport Medical Instruments Inc., Inovo, Impact Instrumentation, Respironics, Providence Global Medical, Percussionaire Corp., Vortran Medical Technology, Intersurgical Ltd., Smiths Medical WinterGreen Research Inc., Eget Hi-Tec Co. Ltd., Race Medical and Beauty Equipments, and Maquet.