Report ID: SQMIG35E2042
Report ID:
SQMIG35E2042 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
61 |
Figures:
76
Drivers
Increasing Prevalence of COPD Patients
The portable oxygen concentrators industry is witnessing immense growth in the emerging economies due to increasing disposable income and growing incidences of chronic diseases. This is especially true in countries like India and China, where there is a rise in patients suffering from chronic obstructive pulmonary disorder, resulting in the high demand for POCs. Furthermore, during the forecast period, growth of the market is expected to be aided by companies investing in the production of portable pulse and continuous-flow oxygen suckers.
Increasing Prevalence of Respiratory Diseases
A rise in people with respiratory diseases including lung cancer, asthma, pulmonary fibrosis, and flu is increasing the development of effective oxygen therapy products. POCs provide a portable and easy-to-use means of providing oxygen therapy to patients who need it, allowing them to maintain their health-related quality of life. The increase in respiratory diseases is directly creating high demand for POCs in the market. Also, POC allows healthcare providers to provide treatment outside of the hospital, such as oxygen therapy at home, thus lessening the stress on the healthcare facilities. POCs are also relatively inexpensive as there is no need for regular and local cylinder refilling or stationary concentrator upkeep.
Restraints
Stringent Government Rules and Reimbursement Procedures
The expensive price of the product is the main obstacle preventing the widespread use of portable gas extractors. Due to limited disposable cash and a higher price of the product than in wealthy nations, POC acceptance is limited in emerging economies. Additionally, the market expansion for portable gas extractors is being hampered by the strict restrictions and reimbursement guidelines.
Lack of Knowledge and Education
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Report ID: SQMIG35E2042