COVID-19 Impact on Portable Oxygen Concentrators Market
Patients who need greater portable oxygen concentrations and are no longer able to breathe in enough oxygen from natural air is treat using oxygen therapy devices. Both portable and stationary oxygen concentrators are include by this global market study, which encompasses more than 70 nations.
Global Portable Oxygen Concentrators Market Definition
People with respiratory conditions can get oxygen through the use of a portable oxygen concentrator (POC), a piece of medical equipment. In order to provide the patient with pure oxygen, the equipment separates nitrogen and oxygen from the surrounding air. POCs include two oxygen delivery modes, pulse dose and continuous flow, a plug-in power supply, a knob to adjust the flow rate, an alert indicator, and an outlet for a nasal cannula.
Market Insight
The number of people who need medical oxygen is anticipate to steadily rise as the population ages across several markets and as the incidence rates for chronic respiratory diseases rise. The COVID-19 pandemic, the most recent in the line of respiratory disorders, is explicitly blame for the temporary spike in unit sales. Therefore, a rise in illnesses needing oxygen concentrators, respiratory issues, and an increase in hospitalizations all contributed to the surge shown in 2020.
According to data from Data Bridge Market Research, the market for portable oxygen concentrators is value at USD 1.58 billion in 2021 and is project to grow to USD 3.26 billion by 2029, a CAGR of 9.46% from 2022 to 2029. The Data Bridge Market Research team’s thorough expert research, patient epidemiology, pipeline analysis, price analysis, and regulatory framework are all included in the market study.
Market Analysis
The design of Portable Oxygen Concentrator Market has improved over time as manufacturers have produced them in smaller, more mobile sizes. Patients may now carry portable oxygen concentrators more rapidly since the current generation has become more mobile and can fit in a car. Distributors aim to sell the most portable and lightest portable oxygen concentrators, while original equipment manufacturers of these devices compete to advance the products mechanically and technically.
Market Dynamics
Rising incidence of chronic illnesses
During the projected period of 2022–2029, the increased incidence of chronic illnesses will drive the market’s growth rate. The increasing prevalence of respiratory conditions including sleep apnea and asthma is one of the main reasons fueling the market’s expansion.
An increase in the population of elderly people
The market is drive ahead by the ageing population, which is susceptible to these ailments, as well as the rising need for practical portable technology.
The market for portable oxygen concentrators will also be greatly impact by the increase in everyday exposure to environmental pollutants. Along with this, rising urbanization and disposable income levels are the key drivers propelling the portable oxygen concentrators market’s expansion. Additionally, rising spending on healthcare infrastructure and people’s constantly changing lifestyles are two other key market factors that will propel the market for portable oxygen concentrators even further.
COVID-19 Impact on Portable Oxygen Concentrators Market
The COVID-19 epidemic had a significant influence on the lives and enterprises of several individuals. The COVID-19 epidemic has had a favorable effect on the Portable Oxygen Concentrator Market. The need for medical oxygen concentrators has increased as a result of the unexpected rise of COVID-19 cases. Infection COVID-19, which is extremely infectious, is cause by severe acute respiratory illness. Acute respiratory syndrome in critically ill patients made between 15–26% of all cases throughout the pandemic. Rising demand for acute critical care coupled with a sizable patient base in need of oxygen treatment will hence hasten market expansion. The mainstay of COVID-19 illness care was oxygen therapy. It is a common choice for treating infectious diseases. Since it may keep patients alive for days to weeks at a time.
The demand for stationary oxygen concentrators, particularly the high-flow model. Increased significantly due to COVID-19, according to the global market for oxygen concentrators.
For more details
https://www.databridgemarketresearch.com/reports/global-portable-oxygen-concentrators-market
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