Research and Markets: Portable Oxygen Concentrators: Market Shares, Strategies, and Forecasts, Worldwide, 2015 to 2021
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/l7ckwc/portable_oxygen) has announced the addition of Wintergreen Research, Inc's new report "Portable Oxygen Concentrators: Market Shares, Strategies, and Forecasts, Worldwide, 2015 to 2021" to their offering.
Portable oxygen concentrator market size at $744 million in 2014 is expected grow to $2.2 billion by 2021. Market growth is a result of the aging of the population and the increased need for oxygen.
Major factors driving the market for portable oxygen concentrators include its ability to provide oxygen under all circumstances. The worldwide aging population. An increase in the number of people with COPD and other respiratory diseases. Advantages of portable oxygen concentrator devices are that they weigh less, are easy to use. They are affordable.
The complexion of the home oxygen market is changing. Home oxygen markets have been predicated on a dealer infrastructure. These dealers get reimbursed for regular deliveries of liquid oxygen used for supplemental oxygen so the patient can go out, buy groceries, go to the movies, and visit family for a short time. The advent of reliable, inexpensive portable home oxygen concentrators has changed the market dynamic significantly.
No longer do patients need regular deliveries of liquid oxygen for supplemental purposes so the patient can go out. Now, the patient just uses one device at home and while out of the home. The economics of the medical oxygen market have been changing for a long time. CMS Medicare and the private insurers that follow their lead have been resisting paying for supplemental liquid oxygen because the price of truck rolls is too high. With lowered reimbursement, the dealer distribution network that has been in place for many years is no longer tenable.
Oxygen Concentrator Portable Oxygen Concentrators Homecare Home Oxygen Home Medical Equipment Oxygen Therapy Managed Care Non-Acute Health Care Unified Supply Network Portable Pulsed Delivery Oxygen Portable Continuous Pressure Oxygen Portable Pulsed Oxygen Patients on Oxygen Home Oxygen Reimbursement Homefill Oxygen Concentrator Portable Oxygen Concentrators Market Share Portable Oxygen Concentrators Market Forecasts
Air Liquide AirSep Braun and Company CAIRE / SeQual Technologies CareFusion / Intermed Equipment Chart / Caire / SeQual Chart Industries Covidien DeVilbiss Healthcare Drive Medical Drger Fanem Fisher & Paykel Healthcare GE Healthcare Gardner Denver / Thomas Compressors Getinge Group AB / Maquet Graham Field Hamilton Medical Heinen & Loewenstein GmbH & Co Inogen Inova Labs Invacare Jiuxin Medical Leistung Engineering Longfian Scitech Merits Nidek Medical O2Concepts Oxlife OSI Systems Philips Respironics ResMed Smiths Group plc / Smiths Medical Teijin Vygon
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Source: Wintergreen Research, Inc