CaireInc has debuted its new portable oxygen concentrator, the FreeStyle Comfort. The device, which weighs only 5 lbs, is designed with a comfort curve to rest against the natural contour of the body. The device has three different power options: AC, DC, or rechargeable battery power, and is FAA-approved for use on commercial air flights.
CAIRE Inc. is accredited by the Accreditation Commission for Health Care (ACHC) for compliance with a comprehensive set of standards. Headquartered North of Atlanta in the city of Ball Ground, GA, CAIRE operates additional US facilities in San Diego, CA, as well as locations across Europe, Asia, and Australia.
The primary factors driving demand worldwide are a rising prevalence of chronic obstructive pulmonary diseases, a changing consumer lifestyle, adoption of new technologies, growing consumer awareness for oxygen therapy devices, rising government expenditure, and a rise in investment by manufacturing companies for the production of home care products. On the other hand, stringent FDA regulations pertaining to medical devices and high production costs are few factors restraining market growth.
Market Data Forecast published a report named The Global Portable Oxygen Concentrators market size was around USD 1.46 billion in 2018. It is expected to grow at a CAGR of 8% to reach USD 2.15 billion by 2023.
Report segmented as:
• Continuous Flow Portable Oxygen Concentrator
• Pulse Flow Portable Oxygen Concentrator
• Ambulatory Surgical Centres
• Travel Agents
Based on product, Pulse Flow Portable Oxygen Concentrator segment projected to dominate the global portable oxygen concentrators market. Under the end user, the Homecare end-user category is estimated to command the market in terms of value.
Based on geography, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is the market leader and is expected to remain so in the aforementioned forecast period. The growing prevalence of chronic obstructive pulmonary diseases and rising technological advancements is anticipated to result in significant growth of the market which is estimated to account for 41% revenue share in 2016. The Western Europe market is anticipated to grow robustly over the forecast period due to an increasing prevalence of chronic obstructive pulmonary diseases. Increasing preference of interventional cardiologists for nonsurgical procedures is expected to drive the growth of the portable oxygen concentrators market in Western Europe over the forecast period.
Key Market Players:
• Koninklijke Philips N.V.
• Inogen Inc.
• Chart Industries Inc.
• Resmed Inc.
• Invacare Corporation
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