The North America portable oxygen concentrators market is expected to reach US$ 1,315.42 million by 2027 from US$ 682.73 million in 2019. The market is estimated to grow at CAGR of 8.6% from 2020 to 2027. Factors such as growing prevalence of respiratory diseases and disorders and COVID-19 cases are likely to propel the growth of the market. However, high cost associated with the portable oxygen concentrators is the major factor hindering the market growth.
The List of Companies
Koninklijke Philips N.V
Caire Inc. (Chart Industries)
Inogen Inc.
Invacare Corporation
O2 Concepts
Nidek Medical Products, Inc.
Drive DeVilbiss International
GCE Group
Inova labs Inc. (ResMed)
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North America Portable Oxygen Concentrators Market Overview
Portable oxygen concentrators (POCs) are vital medical devices that provide supplemental oxygen to patients with respiratory conditions. They offer a significant advantage over traditional home oxygen concentrators (OCs) by being smaller and easily transportable, allowing patients to maintain an active lifestyle.
Strategic Insights:
Data-Driven Analysis: Strategic insights into the North American POC market rely on comprehensive data analysis to understand current trends, key players, and regional variations.
Competitive Advantage: These insights enable businesses to identify untapped market segments and develop unique value propositions, differentiating themselves from competitors.
Market Anticipation: By leveraging data analytics, stakeholders can anticipate market shifts and proactively adjust their strategies for long-term success.
Informed Decision-Making: Ultimately, these insights empower investors, manufacturers, and other stakeholders to make informed decisions that drive profitability and achieve business objectives.
Regional Insights:
Geographic Scope: Understanding the specific geographic areas within North America is crucial for success.
Local Distinctions: Businesses must consider diverse consumer preferences (e.g., plug types, battery life), varying economic conditions, and regulatory environments to tailor their strategies.
Market Expansion: Identifying underserved areas and adapting offerings to meet local demands allows for market expansion.
Targeted Strategies: A focused market approach enables effective resource allocation, targeted marketing, and improved competitive positioning.
Key Market Segments:
Product Type:
Continuous Flow: Held the largest market share in 2019.
Pulse Flow: Expected to experience the highest Compound Annual Growth Rate (CAGR) during the forecast period due to increased efficiency and portability.
Application:
Chronic Obstructive Pulmonary Disease (COPD): Dominated the market share and is projected to have the highest CAGR, reflecting the high prevalence of COPD.
End User:
Home Care Settings: Projected to maintain the largest and fastest-growing market share, indicating a trend towards home-based respiratory care.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights