WinterGreen Research published a study on Oxygen Concentrators: Market Shares, Strategy, and Forecasts, Worldwide, 2013 to 2019. The study says that worldwide markets are poised to achieve continuing growth as the aging population worldwide needs homecare oxygen treatment. Older people develop COPD and other respiratory conditions and oxygen can improve their quality of life. Portable oxygen devices are affordable and support a mobile lifestyle.
Improvements in the portable oxygen concentrator technology with less weight and more power in the newer portable units, they have begun to rival the larger home units. The development in technology is illustrated by the effectiveness of the Inogen G3 and the about to be released VBox Trooper. Inogen One G3 and AirSep's LifeStyle both offer options with batteries weighing the less than 10 pounds. AirSep has re-engineered the unit down to a 2 pound device.
Inogen’s oxygen concentrator represents a technological breakthrough. The Inogen One G3 is a complete departure from current mainstream technologies. It represents a shift away from standard large, bulky, stationary concentrator systems and inefficient, heavy, and impractical portable devices.
Delivering oxygen cylinders costs money and consumes resources. In current competitive bidding markets, reimbursement for oxygen is down by almost one third. Providers in these markets are compensating for this reduction by moving their oxygen business to a non-delivery model.
Philips medical chronic disease equipment is able to address market trends. Invacare has been a continuing market leader in articulating the benefits of homecare.
The home oxygen market is changing as portable concentrators become smaller and less expensive. The reliable, inexpensive portable home oxygen concentrator has changed the market dynamic significantly.
Portable devices can be used to provide oxygen to users under all circumstances, an option which has disrupted the existing market. The reimbursement is too low to support what worked in the past. This is a dramatic shift in the home medical oxygen market.
Oxygen concentrator markets at $242.5 million in 2012 are anticipated to reach $1.9 billion dollars by 2019. This growth is a result of new competitors in the market, demand for the smaller lighter technology by patients, and the market need by for greater mobility support for older users.
To read more, go to www.wintergreenresearch.com.