USD 3.41 billion
Oxygen Concentrators Market Size, Share, Growth Analysis, By Type(Portable, Stationary), By Technology(Pulse flow, continuous flow), By End-use(Hospitals, Home care settings, ambulatory surgical centers & physician offices), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35E2041 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
88
|Figures:
76
Oxygen Concentrators Market Insights
Oxygen Concentrators Market size was valued at USD 3.61 Billion in 2023 and is poised to grow from USD 3.82 Billion in 2024 to USD 6.42 Billion by 2032, growing at a CAGR of 5.9% during the forecast period (2025-2032).
Oxygen concentrators are extensively used in industrial and medical devices for oxygen therapy. Two methods in common use are pressure swing adsorption and membrane gas separation. Oxygen concentrators are used by patients for pulmonary disorders such as bronchitis, emphysema, lung cancer, and acute pneumonia.These can be used at home as well as in clinical settings to support the patient oxygen needs.
The market growth is driven by the rising prevalence of respiratory disorders, rapid growth in the geriatric population, high prevalence of tobacco smoking, preference towards home-based oxygen therapy, and technological advancements.
However, the availability of low-cost alternatives by local manufacturers, stringent regulatory guidelines causing delays in product approvals, and Medicare reimbursement rate cuts for home oxygen therapy are restraining the growth of this market to a certain extent.
US Oxygen Concentrators Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Portable
Fastest Growth
Portable
Growth Rate
5.9% CAGR
Global Oxygen Concentrators Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Oxygen Concentrators Market Segmental Analysis
Oxygen Concentrators Market is segmented into type, technology, end user, and region. By type, the Oxygen Concentrators Market is segmented into portable and stationary. By technology, the Oxygen Concentrators Market is segmented into pulse flow and continuous flow. By end user, the Oxygen Concentrators Market is segmented into hospitals, home care settings, and Ambulatory Surgical Centers and & Physician Offices. By region, the Oxygen Concentrators Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Oxygen Concentrators Market Analysis by Type
Portable medical oxygen concentrators accounted for the largest revenue share in 2021. Growing prevalence of respiratory disorders, such as asthma, COPD, and pneumonia, is expected to boost the usage of portable oxygen concentrators over the forecast period.
Increasing the number of air travellers and rising approvals for portable concentrators from the Federal Aviation Administration (FAA) are expected to drive the portable concentrators segment.
Oxygen Concentrators Market Analysis by Technology
Continuous flow accounted for the largest revenue share of 87% in 2021. Rapid technology advancement related to new product development is expected to boost the use of medical oxygen concentrators.
Ongoing use of respiratory equipment for oxygen therapy is anticipated to boost the segment growth. Elderly population and bedridden patients are the main targeted groups for continuous flow oxygen concentrators.
In addition, the devices are not fitted with any breath detection technology, hence they are cheaper as compared to pulse flow technology.
Global Oxygen Concentrators Market By type, 2021 (%)
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Oxygen Concentrators Market Regional Insights
North America dominates the global oxygen concentrators market share because of the well-established healthcare infrastructure and increasing awareness about advanced treatment methods in this region. Rising minimally invasive procedures will flourish the market growth rate in this region.
Asia-Pacific is expected to grow during the forecast period of 2022 to 2028 due to the rising prevalence of chronic diseases such as Asthma and COPD and the development of the healthcare sector in this region.
Global Oxygen Concentrators Market By Geography, 2021-2028
- Largest
- Fastest
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Oxygen Concentrators Market Dynamics
Oxygen Concentrators Market Driver
Increased Awareness and Accessibility of Technologically Advanced Resources to Boost Market Growth
- The spread of chronic diseases will surge the market growth rate during the forecast period. One of the primary factors driving the market's growth is the rising frequency of respiratory illnesses such as asthma. The market is growing due to the growing geriatric population who are prone to such disorders and the growing need for convenient portable gadgets.
- The rise in daily exposure to environmental pollution will be a major factor influencing the growth of the oxygen concentrators market. Along with this, increasing urbanization and rising level of disposable income are the driving factors accelerating growth of the market.
- Also, increasing expenditure on healthcare infrastructure and the constantly changing lifestyle of people are the major market drivers that will further escalate the growth of oxygen concentrators in global market.
Oxygen Concentrators Market Restraint
High Cost and Lack of Skilled Professionals to Hinder Market Growth
- High cost associated with oxygen concentrators will obstruct the growth rate of the market. The absence of skilled professionals and strict regulatory procedures will also challenge the oxygen concentrators market.
- The impact of COVID-19 on the supply chain and limited reimbursement will act as a restrain and further impede the growth rate of the market during the forecast period.
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Oxygen Concentrators Market Competitive Landscape
Global oxygen concentrators market is fragmented in nature. The market is witnessing the presence and entrance of various global and regional players to cater to rising oxygen demand. Players in the market are adopting various strategies such as mergers and acquisitions, collaborations, and R&D activities to stay ahead in the competition.
Oxygen Concentrators Market Top Player’s Company Profiles
- Koninklijke Philips N.V.
- Invacare Corporation
- Inogen, Inc.
- Drive DeVilbiss Healthcare
- Chart Industries, Inc.
- GCE Group
- Teijin Limited
- Besco Medical Co., Ltd.
- CAIRE Inc.
- Nidek Medical Products, Inc.
- O2 Concepts LLC
- Precision Medical Inc.
- ResMed Inc.
- Yuwell-Jiangsu Yuyue medical equipment & supply Co., Ltd.
- Precision Medical Devices, Inc.
- OSI Systems, Inc.
- AirSep Corporation
- Intersurgical Ltd.
- Longfian Scitech Co., Ltd.
- Beijing North Star Co., Ltd.
Oxygen Concentrators Market Recent Developments
- In June 2021, While working with prestigious educational institutions like IIT Jammu, Servotech Power Systems announced that it would introduce a medical-grade oxygen concentrator to India and raise consumer awareness of the product to boost sales for the maker.
Oxygen Concentrators Key Market Trends
Players will Invest in Product Portfolio Expansion to Gain an Edge Over Others
- Oxygen concentrators market is poised to witness significant growth in the next 2-3 quarters due to its large portfolio of respiratory devices. To meet the rapidly increasing global demand, the industry is increasing its mask manufacturing capacities by 10 times and ventilator manufacturing by 2-3 times. The industry has the capacity of manufacturing nearly 1 million devices annually, which will certainly help the company play a significant role to curb this situation.
Oxygen Concentrators Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global oxygen concentrators market analysis, the market will gain prominence in coming years due to increased FDA approvals for medical gas equipment and an increase in preference for home healthcare settings.
Players in the market might face challenges in terms of the high cost associated with the product. However, better quality and services can aid in staying ahead in the competition.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.41 billion |
| Market size value in 2031 | USD 6.06 billion |
| Growth Rate | 5.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Oxygen Concentrators Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Oxygen Concentrators Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Oxygen Concentrators Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Oxygen Concentrators Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Oxygen Concentrators Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Oxygen Concentrators Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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