U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market, by Technology (Pulse Flow, Continuous Flow), by Application (Chronic obstructive pulmonary disease (COPD), Asthma, Respiratory Distress Syndrome, Others), by End User (Hospitals, Homecare Settings, Ambulatory Surgical Centers, Others), and by Region/country (U.S. and Asia Pacific), is estimated to be valued at US$ 884.58 million in 2022, and is expected to exhibit a CAGR of 7.4% during the forecast period (2022-2030).
Increasing research and development for portable medical oxygen concentrators by research institutes which is expected to drive the market growth over forecast period. For instance, in June 2021, The Vikram Sarabhai Space Centre (VSSC) of Indian Space Research Organisation (ISRO) had developed cost-effective oxygen concentrator, which is a portable medical oxygen concentrator called Shwaas. It is capable of supplying 10 liter enriched oxygen per minute, adequate for two patients at a time.
Moreover, increasing prevalence of asthma will act as social factor for driving the market growth over the forecast period. For instance, according to World Health Organization (WHO) in May 2022, asthma is a major non-communicable disease (NCD), affecting both children and adults and the most common chronic disease among children. According to the same source, asthma affected approximately 262 million people and caused 455,000 deaths in 2019, globally.
U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Outbreak of COVID-19 (pandemic) across the globe is expected to provide significant growth opportunities for medical device market. For instance, the pandemic has created an unprecedented demand on the health care system and has led to an urgent need for access to health (medical) products. Moreover, respiratory medical devices have been in increased demand since the outbreak of the virus. This is primarily due to the nature of the novel coronavirus, since it can be transmitted through respiratory droplets.
Browse 35 Market Data Tables and 28 Figures spread through 220 Pages and in-depth TOC on U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market, by Technology (Pulse Flow, Continuous Flow), by Application (Chronic obstructive pulmonary disease (COPD), Asthma, Respiratory Distress Syndrome, Others), by End User (Hospitals, Homecare Settings, Ambulatory Surgical Centers, Others), and by Region/country (U.S. and Asia Pacific),
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Key Takeaways of the U.S. & Asia Pacific Portable Medical Oxygen Concentrators Market:
- U.S. & Asia Pacific portable medical oxygen concentrators market is expected to exhibit a CAGR of 7.4% over the forecast period (2022-2030). The U.S. is expected to account for major market share over the forecast period (2022-2030), as increasing prevalence of respiratory disorders, which is expected to fuel the U.S. & Asia Pacific portable medical oxygen concentrators market growth over the forecast period. For instance, according to the data published by the American Lung Association in July 2022, Behavioral Risk Factor Surveillance System (BRFSS) survey is the nation’s premier system of health-related telephone surveys that collect state data about the U.S. This survey found that approximately 23.4 million (9.2%) of adults residing in the U.S. reported having asthma in 2020.
- Some of the major players operating in the U.S. & Asia Pacific portable medical oxygen concentrators market include Chart industries, OxyGo HQ Florida, LLC, Koninklijke Philips N.V., ResMed Inc., Precision Medical, Inc, O2 CONCEPTS, LLC, GCE Group, Nidek Medical Product, Besco Medical Limited, CAIRE INC., BPL Medical Technologies, CONTEC MEDICAL SYSTEMS CO., LTD., NAREENA LIFESCIENCES PRIVATE LIMITED, Drive DeVilbiss Healthcare llc.
