NEW YORK, Dec. 10, 2018 /PRNewswire/ -- About this market
The prevailing presence of assisted living facility and home-care settings is likely to boost growth in the market. The presence of assisted living facilities in developed and developing countries is increasing the demand for portable oxygen concentrators in the market. Technavio's analysts have predicted that the portable oxygen concentrators market will register a CAGR of close to 11% by 2023.
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Market Overview
Increasing number of product launches
Vendors are launching new models of portable oxygen concentrators in the market to stimulate the demand and their market shares. The companies are emphasizing on evolving low weight portable oxygen concentrators for people suffering from COPD and asthma, which is likely to boost the market growth.
High cost of oxygen concentrators
The technological advances and new features of portable oxygen concentrators increase their cost, which is hindering the market growth.
For the detailed list of factors that will drive and challenge the growth of the portable oxygen concentrators market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Drive DeVilbiss Healthcare and Inogen, the competitive environment is quite intense. Factors such as the prevailing presence of assisted living facility and home-care settings and the increasing number of product launches, will provide considerable growth opportunities to portable oxygen concentrators manufactures. Drive DeVilbiss Healthcare, Inogen, Koninklijke Philips, and Invacare are some of the major companies covered in this report.
'With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities. Many companies in the market have been offering technologically advanced portable oxygen concentrators.'
Read the full report: https://www.reportlinker.com/p05647271
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