New York, USA, July 12, 2021 (GLOBE NEWSWIRE) -- A newest report on the global portable oxygen kit market has been added by Research Dive to its repository. The report presents exhaustive insights on the impact of COVID-19 pandemic on the present and future prospective of the global industry, by analyzing important factors such as key drivers & limitations, newest trends & advances, regional market circumstances, and size & scope of the market during the pandemic. The report states that the COVID-19 pandemic has made a positive impact on the market growth.
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Factors Impacting the Market Growth during COVID-19 Pandemic
The global portable oxygen kit market is expected to witness noteworthy growth and garner $2,871.3 million by 2026 due to growing demand for high-quality portable oxygen kits in ambulances, hospitals, and home first-aid kits in this pandemic period.
Highlights of the Report
- The CAGR of the portable oxygen kit market, as estimated before the outbreak of the COVID-19 pandemic, was 4% in the estimated period, 2019—2026.
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- The CAGR of the global industry, as expected post the rise of the COVID-19 pandemic, is anticipated to be 9.9% during the projected period, 2019—2026.
- The size of the global portable oxygen kit sector in 2020, as estimated before the beginning of the COVID-19 pandemic, was $1,607.7 million.
- The present market size (2020), bearing the after-effects of the COVID-19 pandemic, is $1,655.6 million.
Present Scenario of the Market due to COVID-19 Crisis:
Portable oxygen kit manufacturing companies are heavily investing in novel product design and developments to meet the surging demand for medical oxygen during the pandemic. For instance, in May 2021, Bharat Aerosol Industries, a Kerala-based firm, launched Oxy Secure Booster, a portable oxygen cylinder which acts as a first aid care and provides immediate relief to patients in emergencies.
Furthermore, government bodies across various regions are supporting oxygen manufacturers with an aim to reduce the gap between demand and supply of medical oxygen during the pandemic period. For instance, after the outbreak of the pandemic, the Drug Controller General of India (DGCI) has offered approval for oxygen kit makers for the producing medical oxygen. All these initiatives are boosting the market growth during the pandemic period.
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Future Scope of the Industry:
According to the report, the global portable oxygen kit market is expected to continue making significant developments after the end of COVID-19 disaster. Some of the leading companies such as
- Chart Industries, Inc.
- Teijin Aramid B.V
- O2 CONCEPTS, LLC.
- Koninklijke Philips N.V.
- Inogen, Inc.
- DeVilbiss Healthcare LLC
- Invacare Corporation.
- Worthington Industries
- Inova Labs Inc.
- Nidek Medical Products, Inc.
and others are expected to form the future of the global portable oxygen kit market in the upcoming years.
The report provides numerous tactics and strategies of the foremost players functioning in the market such as the new product developments, latest strategic plans & approaches, financial performance, product portfolio, and SWOT analysis. For instance, in May 2021, the Phi Factory, a startup company in Hyderabad, developed an oxygen producing kit under the name “Project Vayuputra” to resolve the problem of oxygen shortage during the COVD-19 turmoil.
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
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