Overview and Scope
Oxygen concentrators are devices that separate nitrogen and oxygen from the air in the environment and provide pure oxygen to the patient. These are used for supplying oxygen to patients suffering from respiratory diseases.
Sizing and Forecast
The oxygen concentrators market size has grown strongly in recent years. It will grow from $2.25 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to emerging markets growth, low interest rate environment, increased prevalence of respiratory diseases, increased elderly population, rising pollution levels, covid-19 pandemic and escalating numbers of smokers in developing nations.
The oxygen concentrators market size is expected to see strong growth in the next few years. It will grow to $3.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing elderly population, increasing focus on home healthcare, increasing healthcare access, and technological advancements. Major trends in the forecast period include evelopment of smart oxygen concentrators, portable oxygen concentrators, rise in partnerships & acquisitions, technological advancements, new payment plans, and increasing number of patent filings.
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Segmentation & Regional Insights
The oxygen concentrators market covered in this report is segmented –
1) By Type: Portable, Stationary
2) By Technology: Pulse Dose, Continuous Flow
3) By Application: Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Pneumonia, Other Applications
4) By End User: Hospitals, Home Care, Other End Users
North America was the largest region in the oxygen concentrators market in 2023. Europe was the second-largest region in the oxygen concentrators market. The regions covered in the oxygen concentrators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in the prevalence of respiratory disorders across the globe contributes to the growth of the oxygen concentrators market. Globally, asthma and chronic obstructive pulmonary disease (COPD) are the most common chronic respiratory diseases. For instance, in February 2023, according to the report published by the American Lung Association, a US-based voluntary lung health and preventing lung disease, a chronic lung illness, such as asthma or COPD, which also includes emphysema and chronic bronchitis, affects more than 34 million Americans. Additionally, more than 25 million Americans, including more than 4 million children, have breathing difficulties due to asthma. Therefore, the increase in the prevalence of respiratory disorders is driving the growth of the oxygen concentrators market.
Key Industry Players
Major companies operating in the oxygen concentrators market report are Inogen Inc., Koninklijke Philips N.V, Teijin Limited, Invacare Corporation, CAIRE Inc., O2 Concepts LLC, Nidek Medical Products Inc., Precision Medical Inc., Drive Devilbiss Healthcare Ltd., 3B Medical Inc., BPL, Eloxy Technology, Evox Oxygen Concentrators, Nanjing Everich Medicare Import & Export Co. Ltd., AngelBiss Medical Technology Co. Ltd., Hefei DX Medical Co. Ltd., Longfian Scitech Co. Ltd., Yokogawa United Kingdom Ltd., Noxerior, Air Liquide Sanita Service, Pure O2, Heinen + Lowenstein GmbH & Co. KG, DeVilbiss Healthcare GmbH, NGK Spark Plug Co. Ltd., Chart Industries Inc., White Martins, 3M Company, Pfizer, Baxter, Novartis, Johnson &Johnson, Bayer, GlaxoSmithKline, B Braun, Boehringer Ingelheim, Sanofi, Merck Group, West Pharmaceutical, Allergan, Catalent, Bilim Pharmaceuticals, H&T Press part, Hovione Technology, Sorrel Medical, Syqe Medical, Julphar, Novo Nordisk, Abbott Laboratories, Becton Dickinson, Siemens, Medtronic, Roche, Supera Anaesthesia Innovations, Linde PLC, ResMed
The oxygen concentrators market report table of contents includes:
1. Executive Summary
2. Oxygen Concentrators Market Characteristics
3. Oxygen Concentrators Market Trends And Strategies
4. Oxygen Concentrators Market – Macro Economic Scenario
5. Global Oxygen Concentrators Market Size and Growth
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31. Oxygen Concentrators Market Other Major And Innovative Companies
32. Global Oxygen Concentrators Market Competitive Benchmarking
33. Global Oxygen Concentrators Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Oxygen Concentrators Market
35. Oxygen Concentrators Market Future Outlook and Potential Analysis
36.Appendix
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