- Portable Oxygen Concentrators
- Stationary Oxygen Concentrators
Medical Oxygen Concentrators Market size valued USD 1,834 million in 2021 and expected to reach USD 3,627.6 million by 2028 poised to grow at CAGR of 8.9% during forecast period 2022-2028. The market growing geriatric population, the incidence of various respiratory disorders and technology advances in oxygen concentrators. Oxygen concentrators are medical equipment that extract oxygen from a gas supply by selectively removing nitrogen, resulting in an oxygen-enriched product gas spurt. Oxygen concentrators are medical devices that selectively remove nitrogen from a gas supply, producing in an oxygen-enriched product gas spurt. Air is circulated through molecular filter beds in oxygen concentrators to concentrate ambient oxygen to therapeutic levels for patient administration. Oxygen concentrators are used by patients who require supplemental oxygen for respiratory ailments such as bronchitis, emphysema, lung cancer, or acute pneumonia. Oxygen concentrators can be used at home or in hospital settings to help users meet their oxygen needs. Because of their ease of use, oxygen concentrators are becoming increasingly popular and in high demand. Moreover, several oxygen concentrators are available with different flow rate such as continuous and pulse flow devices, which are digitally monitored to help in the improved usability in across patient groups in hospital and homecare setups, which are advancing medical oxygen concentrators market revenue growth across the globe. In addition, the research report includes technology advancements; regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
Global Medical Oxygen Concentrators Market Summary
Study Period
2023-29
Base Year
2022
CAGR
8.9%
Largest Market
North America
Fastest Growing Market
Asia-Pacific
Medical Oxygen Concentrators Market Dynamics
The growing ageing populations, who are vulnerable to several respiratory diseases, are expected to drive the market revenue growth over the forecast period. For Instance, in 2016, according to World Bank population statistics, population ages 65 and above is estimated to be around 8.5% of total population and projected to grow geriatric population over the forecast period, which in turn affect the market growth positively. Moreover, Chronic Obstructive Pulmonary Disease (COPD) patients are increasingly adopting oxygen concentrators for COPD management; this would drive the market revenue growth. For instance, in 2015, according to WHO, COPD estimated to cause three million deaths globally. In addition, growing consumptions of cigarettes, marijuana, and rising air pollution causing respiratory diseases, this, in turn, propels the adoption of oxygen concentrators across the patient groups.
Medical Oxygen Concentrators Market Regional Analysis
North-America Got Significant Share
North America market leads the global medical oxygen concentrators market and projected to remain dominant over the forecast period owing to favourable reimbursement policies, well-developed homecare services in the region. Asia-pacific medical oxygen concentrators market projected to grow at significant CAGR over the forecast period owing to large patient population and increasing incidence of various respiratory diseases in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Global Medical Oxygen Concentrators Market Segmentation
By Product Type
By Application
- Asthma
- COPD
- Cystic Fibrosis
- Pneumonia
- Other
By Technology
- Pulse Dose Oxygen Concentrators
- Continuous Flow Oxygen Concentrators
By End User
- Hospitals,
- Clinics,
- Ambulatory Surgical Centers (ASC),
- Homecare, and
- Travel Agents
Frequently Asked Questions
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
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Key players profiled in the global Medical Oxygen Concentrators market include:
- Chart Industries, Inc. (U.S.)
- Medtronic plc. (U.S)
- DeVilbiss Healthcare LLC (U.S)
- GCE Group (Sweden)
- Inogen (U.S)
- Invacare Corporation (U.S)
- Koninklijke Philips N.V. (Netherlands)
- Linde Healthcare (Germany)
- Nidek Medical Products, Inc. (U.S)
- O2 Concepts, LLC (U.S)
- Oxus America (U.S)
- Oxygen to Go, LLC (U.S)
- Teijin Limited (Japan)