Sellbyville, DE -- (SBWIRE) -- 11/16/2018 -- Global Homecare oxygen concentrators market was valued over USD 835 million in 2017 and is expected to witness growth of around 10.5% CAGR from 2018 to 2024.

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Portable oxygen concentrators segment dominated industry with the market value of around USD 646 million in 2017. High market share of portable oxygen concentrators is attributed to the ease and convenience offered by these portable oxygen concentrators. Portable oxygen concentrators are mostly preferred by the geriatric population that suffers from chronic respiratory disorders. During the forecast period, ease and convenience offered by portable concentrators will augment demand.

Compressed gas oxygen cylinders segment is forecast to witness robust growth of over 10% over the forecast period owing to the advantages and benefits offered by these cylinders. Also, compressed gas oxygen cylinders are relatively cheaper than the liquid oxygen and hence are highly preferred.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Drive DeVilbiss Healthcare
- Chart Industries, Inc.
- Invacare Corporation
- Precision Medical Inc.
- Inova Labs
- BOC Healthcare
- Inogen Environmental Alliance Inc
- Nidek Medical Products, Inc.

Portable oxygen concentrators business segment accounted for market value of over USD 646 million in 2017 due to growing number of baby boomers' population, that is more susceptible to chronic conditions such as asthma, COPD and require continuous home oxygen. With increase in geriatric population with chronic conditions, the demand for various homecare oxygen concentrators will certainly increase over the projection years.

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U.S. dominated the North American homecare oxygen concentrators market in 2017 and is estimated to grow with a CAGR of 9.6% during the projection period. High growth rate of oxygen concentrators used for home therapy is attributed to the expanding geriatric population pool suffering from chronic diseases. Furthermore, escalating prevalence of COPD and bronchitis will drive the demand for home oxygen therapy. Portable home oxygen concentrators are more efficient with a long battery life have impacted the industry growth positively.

Medical Oxygen Concentrators Market by Product
o Portable home oxygen concentrators
o Compressed gas oxygen concentrators
o Liquid oxygen