Oxygen Always estimates that the U.S. market for home oxygen concentrators will hit revenues of $170 million in 2015. Based on research from the healthcare market research team, Kalorama Information, the aging population will drive the market, and competitions are expected to drive new innovative features that will result in lighter and quieter units at lower prices.
Among the top competitors of the home oxygen concentrator market are Invacare, Philips, AirSep, OxLife, and Inogen among other brands in the market. The surge in home oxygen concentrators was due to new competitors entering the market and the demand for lighter technology from customers. Again, the population of oxygen concentrators wants to remain as active as possible.
Although there was a tightening of reimbursement policies that started in July 2013, consumers have been opting to pay out of pocket for these newer, more portable oxygen concentrators. Reimbursement prices will continue to cause the oxygen concentrator industry problems.
The biggest competitors of the oxygen concentrator market began releasing newer models that are more energy-efficient and quieter. These products cater to oxygen users that are active and ambulatory, allowing the users to work, travel, and participate in activities that keep them away from home for an extended period of time. Many of the concentrators have become FAA approved to be used aboard an aircraft.
Many companies, such as Philips, have benefitted from growth in the health care products business and have built a strong medical products reputation due to its acquisition of the second biggest oxygen concentrator competitor, Respironics. However, reimbursement policies continue to be an issue.
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