According to the research report, the Asia Pacific Portable Oxygen Concentrators Market Size has been valued at USD 0.33 billion in 2023 and is predicted to reach USD 0.49 billion by the end of 2028, to grow at a CAGR of 8.5% from 2023 to 2028.
A portable oxygen concentrator (POC) is medical equipment that provides oxygen to people with respiratory problems. The concentrator isolates nitrogen and oxygen from ambient air, eliminating the nitrogen and providing 95 percent pure oxygen through a mask to patients.
The increased incidence of chronic obstructive pulmonary disease, a changing consumer lifestyle, and the adoption of new technologies are expected to drive rising market growth. Furthermore, rising consumer awareness of oxygen treatment equipment, rising government spending, and increased manufacturing company investment in homecare items are all driving market growth. Further, the market is expected to grow considerably due to driving factors such as a growth in the number of patients with COVID-19 and the increased incidence of respiratory diseases.
The portable oxygen concentrators market is further bolstered by factors such as increasing COPD and asthma cases around the region year after year. In addition, asthma affects an estimated number of individuals, expected to climb.
Moreover, the growing senior population is projected to boost the market's growth rate. In addition, the switch from traditional oxygen cylinders to portable oxygen concentrators would increase demand for these devices. On the other hand, as the number of players in emerging markets grows, the need for POC is likely to rise during the forecast period.
In most countries, reimbursement policies and government regulations on portable oxygen concentrators are expected to hamper the market expansion. Furthermore, a global pandemic disrupted supply chains in the recent past, resulting in a drop in market growth. Again, the enormous costs connected with development are critical factors hindering it. In addition, the low number of permits for non-portable and single-use equipment limits market expansion to some extent. Finally, the lack of public awareness regarding portable oxygen concentrators and a scarcity of skilled practitioners may stifle global market growth.
This research report on the APAC Portable Oxygen Concentrators Market has been segmented and sub-segmented into the following categories.
By Product:
By Technology:
By End User:
By Country:
Geographically, the portable oxygen concentrators market in the Asia Pacific is expected to develop at the fastest rate over this period. Increasing discretionary expenditures for diagnosis and treatment and government and fund initiatives in the region contribute to the growth. The major countries such as India, China, and Japan are the major contributors to market growth.
On the other hand, with the increased number of instances of coronavirus pandemic, governments in Asia Pacific countries such as India, Australia, and others are taking steps to meet the need for oxygen during a COVID pandemic.
For example, the Delhi (India) government has set out to buy 2,000 oxygen concentrators, citing a growing demand for more oxygen than ventilators to treat patients with coronavirus sickness. In addition, an item published in June 2020 stated, "The Delhi government will make plans for providing oxygen concentrators to Covid-19 patients under home isolation if their oxygen saturation levels dip." As a result, the market for portable oxygen concentrators is expected to grow.
The increased demand for oxygen concentrators in the healthcare market is due to infections and chronic illnesses that compromise lung health. As a result, medical oxygen concentrators have become more prevalent in developing nations such as China and India.
The China portable oxygen concentrators market held the most significant global market share during the projected period. Due to the growing geriatric population and severely ill patients, particularly in hospitals, they manage respiration. Furthermore, with the recent epidemic of COVID-19, demand for medical oxygen concentrators has skyrocketed, and it is likely to see considerable market growth for portable concentrators during the forecast period.
The recent COVID-19 pandemic has considerably raised the need for portable oxygen concentrators in India, and the market is projected to rise significantly soon.
KEY MARKET PLAYERS
Notable companies operating in the APAC Portable Oxygen Concentrators Market profiled in the report are Koninklijke Philips N.V., Inogen Inc., Chart Industries Inc., Resmed Inc., Invacare Corporation, Drive DeVilbiss Healthcare, Precision Medical Inc., Foshan Keyhub Electronic Industries Co. Ltd., O2 Concepts LLC, and GCE Group.,
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