New York, USA, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Research Dive has published a new report on portable oxygen kit market and according to this report; the market is anticipated to cross the $2,616.8 million mark by 2026, from a significant revenue of $1,372.6 million in the year 2018, with a CAGR of 8.4%.
The inclusive report mentions several aspects such as market dynamics, current scene of the market, growth aspects, restraints, challenges, and opportunities in the analyzed forecast period. The report also includes the market CAGR and revenue estimates; thus making it simple for the new participants to gain adequate knowledge of the market.
Factors Affecting the Market Growth
The portable oxygen kit market is driven by the increase in the cases of tobacco smokers across the world. Moreover, rising prevalence of diseases such as COPD (Chronic Obstructive Pulmonary Disease) and respiratory diseases is also responsible for the market growth. Apart from this, the geriatric populations who are affected by respiratory diseases are also in the need for portable oxygen kits. All these aspects are governing the market growth in the forecast period.
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However, improper handling and changes in prices pertaining to these oxygen kits is expected to hamper the market growth. Nevertheless, automotive and aerospace sectors are creating prominent investment opportunities for the portable oxygen kit market in the forecast period.
The report divides the market into segments based on end-use and regional analysis.
Healthcare Sub-Segment to be the Most Profitable
The healthcare sub-segment is anticipated to extract maximum revenue of $1,125.5 million by 2026, from a substantial market size of $590.2 million in 2028. This revenue generation is due to the augmentation of services related to emergency care units and ambulances of the hospitals. This factor is the major driving factor for this sub-segment in the forecast period.
Asia-Pacific Region to Dominate the Market
This region is subjected to harbor majority of the market share because of the rise in air pollution and smokers in Asia-Pacific region. Furthermore, the portable oxygen kits are in demand by various healthcare sectors and also its significance related to home application. These factors are fueling the market growth in the forecast period. The Asia-Pacific portable oxygen kit market size is predicted to be $782.8 million by 2026, increasing from $384.3 million in 2018, with a healthy CAGR of 9.3% in the forecast period.
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Key Players and Business Strategies
Major market players of the portable oxygen kit market are -
- Koninklijke Philips N.V.
- O2 Concepts
- Invacare Corporation
- DeVilbiss Healthcare
- Inova Labs Inc.
- Chart Industries
- Worthington Industries
- NIDEK Medical Products Inc.
- Inogen Inc.
- Teijin Limited
These top key market players are opting for novel strategies and plans such as combined ventures, new product developments, significant mergers and acquisitions, and geographical extensions, in order to promote their company status in the market. Quick Download Top Companies Development Strategies Summary Report
Apart from this, the market report also summarizes various features of all the prominent players functioning in the market such as SWOT scrutiny, financial outlook, developments, current strategic plans, and product portfolio.
Research Dive also offers Custom Research services providing focused, comprehensive and tailored research.
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