North America Portable Oxygen Concentrators Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Continuous Flow, Pulse Flow); Application (COPD, Asthma, Respiratory Distress Syndrome, Others); End User (Hospitals, Homecare Settings, Others), and Country

North Americaportable oxygen concentratorsmarket is expected to reach US$ 1,315.42 million by 2027 from US$ 682.73 million in 2019. The market is estimated to grow at CAGR of 8.6% from 2020 to 2027.

The growth of the North Americaportable oxygen concentrators marketis attributed to the growing prevalence of respiratory diseases disorders and COVID-19 cases. However, high cost associated with the portable oxygen concentrators is the major factor hindering the market growth.

The increasingprevalence of respiratory disorders is primarily correlatedwiththe decrease in the size of the upper airway lumen because of the increasing age factor. Lung diseases are among the most common medical conditions acrossthe world. More than ten millionpeople worldwide suffer from various types of respiratory diseases. In the US, millions of people have lung disease. Lung disease refers to many disorders affecting the lungs, such as asthma, COPD, infections like pneumonia, influenza, and tuberculosis. Some lung diseases can lead to respiratory failure. As per the Public Health Agency of Canada, it was estimated that in 2014, 26,100 Canadians, out of which 13,400 men and 12,700 women developed lung cancer. Lung cancer has become a significant health issue for women. Since 1987, the incidence of lung cancer among women has shown a steady increase while rates among men have decreased. According to a report published by Global Initiative on Chronic Obstructive Lung Disease, ~65 million people suffer with COPD and ~3 million people die from the disease every year, making it the third leading cause or mortality worldwide. Additionally, the World Health Organization (WHO) states that 1.76 million people die from lung cancer every year, making it the most common lethal infectious disease. In addition, 91% of the world population lives in the cities or at places where the air quality is not optimum as recommended by the WHO.

Based on product, the portable oxygen concentrators market is further segmented into continuous flow and pulse flow. The continuous flow segment held a larger share of the market in 2019; however, the pulse flow segment is anticipated to register a higher CAGR in the market during the forecast period.

Based on application, the portable oxygen concentrators market is segmented into COPD, asthma, respiratory distress syndrome, and others. The COPD segment held the largest share of the market in 2019 and is estimated to register the highest CAGR during the forecast period.

Based on end user, the portable oxygen concentrators market is segmented into home care settings, hospitals, and others. The home care settings segment held the largest share of the market in 2019 and is estimated to register the highest CAGR during the forecast period.

Some of the major primary and secondary sources for North Americaportable oxygen concentrators market included in the report areNational Center for Biotechnology Information (NCBI), National Cancer Institute (NCI), World Health Organization (WHO), and Ministry of Health and Prevention (MoHAP).