Portable oxygen concentrator markets at $948.5 million market in 2016 are set to become a $2.9 billion market in 2023. Market growth is a result of the aging of the population and the increased need for oxygen.
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Portable oxygen concentrators are approved by the FAA for use on airlines. People on oxygen wish to continue usual activities.
Distributors are concentrated on determining which portable oxygen concentrator allows the freedom to continue a meaningful lifestyle.
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“Technology has achieved major breakthroughs for portable oxygen concentrator units. Smaller and lighter units are of benefit to patients, supporting the ability to carry the devices easily, permitting the implementation of a direct to consumer market strategy.”
A few companies dominate the portable oxygen concentrator market sector. Inogen has taken over the market leadership position with improved technology and innovative marketing.
Invacare had carefully nurtured its distribution network and continues to do so, but the markets are changing with deliveries from dealers a problem in the industry and for reimbursement, giving Inogen market advantage.
Market Leaders: Iogen, Philips / Respironics, Chart / Caire / SeQual, AirSep, NTK, Drive / Devilbiss, O2Concepts Oxnlife
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Market Participants: Applied Home Healthcare Equipment, Besco, Chart Industries, Drive DeVilbiss Healthcare, First Class Medical, Foshan Keyhub Electronic Industries Co., Ltd., Gardner Denver / Thomas Compressors, GSE, Inogen, Invacare, Jiuxin Medical, Leistung Engineering, Longfian Scitech, Merits, Nidek Medical, NTK, Precision Medical, O2 Concepts, Philips Healthcare / Respironics, ResMed, Zadro Health Solutions
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