Portable Oxygen Kit Market Leading Companies Capabilities, Goals and Strategies During 2020


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Dec 25, 2020, 05:04 EST


Shibuya-ku, Tokyo, Japan, Japan, Dec 25, 2020, 05:04 /Comserve / -- According to the portable oxygen kit market analysis by Research Dive, the portable oxygen kit market forecast will surpass $2,616.8 million by 2026, increasing from $1,372.6 million in 2018, at a CAGR of 8.4%.

According to the portable oxygen kit market analysis by Research Dive, the portable oxygen kit market forecast will surpass $2,616.8 million by 2026, increasing from $1,372.6 million in 2018, at a CAGR of 8.4%.

Market Definition:
Portable oxygen kit is small rechargeable and environmentally friendly kit. Portable oxygen kit has futures like compact, easy to use and lightweight. This kit supplies oxygen, it to a patient suffering from respiratory issues. The kit has several components include regulator, portable oxygen cylinder and refilling adaptor.

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Market Drivers:
Global market for portable oxygen kits is driven mainly by the rising prevalence of chronic obstructive pulmonary disease (COPD) along with the increasing number of tobacco smokers worldwide, which is estimated to drive the portable oxygen kit market growth. Smoking tobacco is predicted to increase the frequency of respiratory disease, it is expected to increase the demand of portable oxygen kits in the projected time. In addition, rapid industrialization and commercialization attributed to air pollution. Breathing polluted air creates respiratory related problems, which directly imparts the demand of the market for portable oxygen kits. Furthermore, growing the number of aged people across the globe and such people are facing repeated respiratory issues would drive demand for portable oxygen kits.

Market Restraints:
The portable oxygen kit cost and shortage are projected to hamper the growth of the market. In addition, improper handling and unsafe action may cause injury and sometime it may even cause death.

Market Opportunities:
Increasing the demand from automotive and aerospace sectors are anticipated to create ample investment opportunities in the portable oxygen kit market, owing to portable oxygen kits are designed to deliver constant supply of oxygen while flying the aircrafts. In addition, an upsurge in the number of adventure sports participants and the development of the portable oxygen kit market is estimated to drive the portable oxygen kit market growth.

Global portable oxygen kit market is classified on the basis of end use into healthcare, home applications, aerospace & automotive and others. Among these, the healthcare sector generated highest market size and is estimated to generate revenue of $1,125.5 million by the end of 2026, increasing from $590.2 million in 2018. The home applications market is estimated to experience a notable growth, and is expected to generate $1,058.8 million by the end of 2026, growing from $535.3 million in the year 2018. This growth is owing to increase in the usage of portable oxygen kits in home applications.

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North America region dominated the global portable oxygen kit market share of 45.0% in 2018, it is projected to generate revenue of $1,177.6 million by the end of 2026, and is increasing from $617.7 million in the year 2018, this is majorly driven due to the aged populace and number of COPD patients. Asia Pacific portable oxygen kit market estimated to reach $782.8 million by 2026, at a highest CAGR of 9.3%, and is increasing from $384.3 million in the year 2018. Growth in the usage of usage of portable oxygen kit in healthcare and home applications.


The major portable oxygen kit market players include Inova Labs Inc., O2 Concepts, Invacare Corporation, Teijin Limited, Worthington Industries, NIDEK Medical Products Inc., DeVilbiss Healthcare, Inogen Inc., Chart Industries, and Koninklijke Philips N.V. The manufacturers are implementing important approaches to improve products performance, technological advancements, partnerships and joint ventures to increase their portable oxygen kit market size in the global market.

 

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