Homecare Homecare Oxygen Concentrators Market size will exceed USD 1.5 billion by 2023 according to this research report.
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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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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