New York, USA, Dec. 28, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global portable oxygen kit market is estimated to gather a revenue of $2,616.8 million and rise at a CAGR of 8.4% over the forecast period from 2019-2026. The extensive report provides a brief outlook of the market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2019-2026. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market:
Drivers: Increase in the occurrence of chronic obstructive pulmonary disease (COPD) and respiratory issues among older people lead to a growing demand of portable oxygens, thus driving the market during the forecast period. In addition, rise of tobacco smoking among people is expected to further boost the portable oxygen kit market by 2026.
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Opportunities: Growing demand of portable oxygen kits from aerospace and automotive sector for disaster-prone sites, battlefield, etc. is predicted to drive the growth of the market by 2026. Furthermore, increasing number of participants in adventure sports and rapid developments in portable oxygen kits is anticipated to boost the portable oxygen kit market enhancement during the analysis timeframe.
Restraints: Sky-high prices of portable oxygen kits and their shortage is predicted to hinder the market growth during the forecast timeframe.
Segments of the Market:
The report has divided the portable oxygen kit market into a few segments based on end-use and regional analysis.
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End-use: Healthcare Sub-segment to be Most Dominant
By end-use, the healthcare sub-segment is estimated to hold the largest market share and register a revenue of $1,125.5 million by 2026. The sky-rocketing usage of ambulance services and emergency care units in hospitals are the main factors expected to bolster the growth of portable oxygen kit market’s healthcare sub-segment during the analysis period.
Region: North America Region to be the Most Lucrative
By regional analysis, the North America region is expected to be the most lucrative and register a revenue of $1,177.6 million by 2026. The growing occurrence of chronic obstructive pulmonary diseases and increasing number of older people in North America is predicted to boost the market growth in the region. Moreover, growing tobacco smoking and a consequent rise in respiratory issues among people of the region is another factor expected to strengthen the development of portable oxygen kit market and offer abundant growth opportunities in North America during the forecast period.
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Prominent Market Players:
Some prominent market players are
- Koninklijke Philips N.V.
- Invacare Corporation
- Teijin Limited
- O2 Concepts
- Chart Industries
- DeVilbiss Healthcare
- NIDEK Medical Products Inc.
- Inova Labs Inc.
- Inogen Inc.
- Worthington Industries, among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the portable oxygen kit market growth.
For example, in July 2021, Bharat Aerosol Industries, a leading manufacturer and wholesale trader of oxygen cans, liquid handwashes, and room fresheners, launched its release of new Oxy Secure Booster portable oxygen cylinders to provide immediate relief to critical patients in emergencies. Priced at just ₹680, these cylinders were manufactured to step up the fight against Covid-19 that can offer up to 225 puffs and has a shelf-life of two years.
The report also summarizes many important facets including financial performance of the key players of the portable oxygen kit market, SWOT analysis, product portfolio, and the latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
Related Article Links:
- New Product Launches & Strategic Collaborations to Foster the Growth of the Global Portable Oxygen Kit Market by 2026
- The Most Reliable Portable Oxygen Kits for 2020
