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Portable oxygen concentrators is a device that is used to support in giving oxygen therapy to people that require greater oxygen concentrations (HC) than the levels of ambient air. It is similar to the home oxygen concentrator. However portable oxygen concentrators are of smaller size and are more mobile than HC. These are of smaller size and convenient to operate, and can be used in the home care setting & aeroplanes. The device include, air compressor, a cylinder filled with sieve a pressure equalizing reservoir & valves and tubes. Portable oxygen concentrators are utilized for the patients suffering from respiratory disorders such as chronic obstructive disorders, asthma, emphysema, lung cancer, pneumonia, and chronic bronchitis who require higher level of oxygen than normal.

The portable oxygen concentrator inputs regular air from the environment and purifies it completely to 90-95% oxygen. For this, the concentrator uses compressor that moves air into sieve into sieve bed filters to remove nitrogen from the composition of air.  Furthermore, it distributes the purified oxygen through hoses that are inserted into the nostrils. After the oxygen is removed, it rekases back the nitrogen into the environment.

The global portable oxygen concentrators market is expected to grow at a CAGR of around 8% over the period of next 5 years.

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MARKET DRIVERS:

The growth of this market is attributed towards major factors such as the increase in prevalence of respiratory disorders such as asthma, chronic bronchitis & COPD globally and surge in levels of air pollution globally. In addition, the growth in awareness about the advantage of portable oxygen concentrators which helps the patients to gain the required level of oxygen throughout the day would propel the growth of the market. Additionally, rise in preference and inclination towards the adoption of portable oxygen concentrators for the delivery of oxygen whenever required by the patients directly from the environment is anticipated to help the industry gain traction during the forecast period.

Furthermore, the advent of COVID-19, which also results in respiratory problems, has led to a huge surge in the demand of portable oxygen concentrators. The increase in the incidences of COVID-19 will contribute to the market growth in the coming years.

The other factors affecting the growth of the portable oxygen concentrator industry include, the surge in technological advancements of the devices to make it miniaturized and convenient to use. The companies have been investing more over the technological advancements meeting the demand of the market. For instance, in November 2019, Caire launched a new FreeStyle Comfort portable oxygen concentrator which is equipped with the autoSAT technology. Caire is an oxygen supply manufacturer which is based on Georgia. The autoSAT is proven self-adjusting software that ensures the delivery of oxygen bolus consistently through nostrils whenever required by the patients, throughout the day. It has been designed such that it is comfortable for the patients to wear.

Furthermore, other factors such as the advantages offered by portable oxygen concentrators ranging from reducing hospital admissions, as the patient doesn’t need to visit the hospitals regularly and treating the patient remotely would help the portable oxygen concentrator market grow in the coming years. In addition, the untapped market potential in the emerging economies with high patient population is further anticipated to propel the growth of the market. The market is driven by the steep rise in the geriatric population, as the progression of age causes the lowering of immune system and makes them highly susceptible to experience respiratory disorders. According to the statistics given by World Health Organization in 2018, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. By 2050, the world’s population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015.

The surge in individuals suffering from respiratory diseases such as asthma, COPD, Chronic Bronchitis, Pneumonia and other such respiratory diseases who require portable oxygen concentrators for management of disease. According to the American Thoracic Society in 2019, Pneumonia is amongst the world’s leading cause of death, mainly among the children of less than 5 years of age. There are 120 million episodes of pneumonia per year in children below the age of 5, over 10% of which (14 million) progress to severe episodes.

PORTABLE OXYGEN CONCENTRATORS MARKET SEGMENTATION:

By Delivery System:

  • Continuous Flow
  • Pulse Flow

By Application:

  • Asthma
  • Chronic Obstructive Pulmonary Disease (COPD)
  • Respiratory Distress Syndrome
  • Chronic Bronchitis
  • Others

By End User:

  • Hospitals & Clinics
  • Home-care Settings
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

REGIONAL INSIGHT:

The North American region held the largest share in the portable oxygen concentrators market in the past years and is expected to continue to remain at the top in the coming years. The growth in this region can be attributed to factors such as the increasing per capita income in combination with the surge in healthcare expenditure. Furthermore the increase in patient population getting diagnosed with respiratory diseases such as COPD, asthma, and Pneumonia in the region will boost the market growth. Moreover the rise in geriatric population, susceptible to develop respiratory diseases is anticipated to help the industry gain traction. In addition, favorable government policies and growing air pollution in the region also contribute to the region’s market growth. The U.S is found to be the major contributor to the region, due to the presence of patient population.

The Asia Pacific region is the fastest growing regional market for portable oxygen concentrators. This region is anticipated to maintain its growth rate in the coming years. The surge in presence of major players in the region and the increasing expenditure on the development of healthcare infrastructure in the region will propel the market growth. The growth can be accounted to factors such as the surge in incidences of respiratory diseases among the growing population of the region, the rapid development of the healthcare infrastructure in the region, and the rise in awareness regarding the use of portable oxygen concentrators in the region. Furthermore, the surging disposable incomes of people and the rapid industrialization in the major economies of the region also effectively contribute to the region’s market growth. The major contributors in the region include India and China, owing to the higher number of patient population.

FEW KEY PLAYERS IN PORTABLE OXYGEN CONCENTRATORS MARKET:

  • Inogen, Inc.
  • Koninklijke Philips N.V
  • Chart Industries, Inc.
  • Invacare Corporation Drive Devilbiss Healthcare
  • O2 Concepts LLC.
  • Nidek Medical
  • GCE Group
  • Caire Inc.
  • Besco Medical Co., LTD.

RECENT DEVELOPMENTS:

  1. In April 2019, Inogen (INGN) announced the launch of portable oxygen concentrator namely, One G5. It is offered through the company’s domestic direct-to-consumer sales channel for patients suffering from respiratory disorders.
  2. In February 2020, GCE Healthcare launched portable oxygen concentrator, namely, Zen-O. This device can help in internet enabled device, anywhere, and offer better care to their patients.
  3. In November 2019, Caire launched a new FreeStyle Comfort portable oxygen concentrator which is equipped with the autoSAT technology.
  4. In August 2019, Inogen Inc. acquired New Aera Inc., a manufacturer of portable noninvasive ventilators. Inogen, announced that it would incorporate New Aera's Tidal Assist Ventilator system technology into its oxygen concentrators, and sell the ventilator system in the coming years.

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