Selbyville, Delaware, March 19, 2020 (GLOBE NEWSWIRE) --
According to latest report “Homecare Oxygen Concentrators Market by Product (Portable Home Oxygen Concentrators {Stationary, Portable}, Compressed Gas Oxygen Cylinders, Liquid Oxygen), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of homecare oxygen concentrators will reach $1700 million by 2026. Various government initiatives will drive the market growth.
Rising prevalence of chronic obstructive pulmonary disease (COPD) in developing countries will significantly influence the homecare oxygen concentrators market revenue. According to the Centers for Disease Control and Prevention, people aged above 65 years are prone to COPD. Although prevalence in elderly population is high, in most of the cases it remains undiagnosed. Patients with COPD require continuous therapy, thereby expanding the demand for homecare oxygen concentrators in long run.
Furthermore, increase in number of cigarette smokers will accelerate the market growth as tobacco inhalation is major factor responsible for rise in COPD prevalence, thereby increasing the adoption of oxygen concentrators.
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Increase in disposable income coupled with various government initiatives in developing countries will further aid homecare oxygen concentrators market growth. For instance, the National Heart, Lung, and Blood Institute has launched COPD Learn More Breath Better (LMBB) Campaign that educates and create awareness among people about COPD. Also, increasing government funding in healthcare sector to provide greater access to facilities and treatment will offer lucrative growth opportunities for the market.
Liquid oxygen market was valued at USD 98 million in 2019 and is expected to grow at significant rate through 2026. Liquid oxygen is light in weight as compared to gas cylinders and have more capacity to carry oxygen. Also, these systems do not consume electricity that minimizes treatment cost, thereby increasing affordability to patients. Thus, advantages associated with liquid oxygen will augment customer preference and thus will expand segmental growth.
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Asia Pacific homecare oxygen concentrators market is estimated to witness 10.2% CAGR during the forecast period. Growing awareness about availability of homecare oxygen concentrators, growing purchasing capacity and accessibility are the chief factors influencing the market growth. In addition, large geriatric pool will create attractive opportunities for the APAC market expansion.
Some major findings of the homecare oxygen concentrators market report include:
- Growing prevalence of chronic obstructive pulmonary disease (COPD) will drive the market size.
- Increasing healthcare spending coupled with rise in number of cigarette smokers will offer significant growth opportunities for homecare oxygen concentrators.
- Expanding geriatric pool will boost the market demand.
- Major players operating in the industry include Chart Industries, Inogen Inc., Koninklijke Philips N.V., Inova Labs Inc. (ResMed), and Invacare Corporation, among other players.
Table of Contents (ToC) of the report:
Chapter 3. Homecare Oxygen Concentrators Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls and challenges
3.4. Growth potential analysis
3.4.1. By product
3.5. Technology landscape
3.6. Regulatory landscape
3.6.1. U.S.
3.7. Industry ecosystem analysis
3.8. Porter’s analysis
3.9. Competitive landscape, 2019
3.9.1. Company matrix analysis, 2019
3.9.2. Strategy dashboard
3.10. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/homecare-oxygen-concentrators-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.