As they are small enough to carry and many are now approved for use on airplanes as well. Therefore as a result demand for portable oxygen concentrators is found increasing.

There is also an increasing prevalence of respiratory diseases and growing geriatric population globally that has increased the overall demand for portable oxygen concentrators. Hence these factors have hence acted as driving factors for the growth of the market. However, the risk of respiratory diseases due to unclean and contaminated equipment and adverse effects such as skin irritation may help in hindering the growth of the market.

Key Market Trends

Application in Asthma is Expected to Cover a Large Market Share

Asthma is one of the major noncommunicable diseases. It is a chronic disease of the air passages of the lungs which inflames and narrows them. According to a World Health Organization 2017 report, there are approximately 235 million people suffering from asthma globally. As per this report, there were 383,000 deaths due to asthma in 2015.

Moreover, the prevalence of asthma seems to be increasing. The portable oxygen concentrators can be easily carried and hence are found to be very useful for asthma patients. Hence, increasing the prevalence of asthma is expected to help the portable oxygen concentrators market grow.

North America is Expected to Dominate the Portable Oxygen Concentrators Market

The prevalence of respiratory disorders is high in North American countries. According to the Centers for Disease Control and Prevention (CDC) 2017, 1 in every 13 people have asthma in the United States and this prevalence translates to more than 25 million US population. In 2014, 8.1% of Canadians aged 12 and older, roughly 2.4 million people, has reported that they had been diagnosed with asthma, as per Statistics Canada (Ministery of Innovation, Science and Industry). This has thus created the high demand for portable oxygen concentrators for therapies like oxygen therapy.

However, the United States and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the US and Canada. As a result, these countries enjoy the presence of many global market players. As high demand is met by the presence of global players in the region, the market is further expected to increase.

Competitive Landscape

Majority of the portable oxygen concentrators are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market grow.

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