Oxygen Concentrators Market
Oxygen Concentrators Market Size, Share & Trends Analysis Report by Type (Portable, and Fixed), by Technology (Continuous flow, and Pulse flow) by Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Respiratory Distress, and Others)), and by End-User(Hospitals & Clinics, Home Care Settings, and Ambulatory Surgical Centers & Physician Offices)) Forecast Period (2024-2031)
Oxygen concentrators market is anticipated to grow at a considerable CAGR of 8.5% during the forecast period (2024-2031).The global oxygen concentrators market is expanding owing to factors such as, respiratory disorders, aging population, technological advancements, home healthcare, COVID-19, healthcare expenditure, government initiatives, and increased awareness about oxygen therapy. These devices extract oxygen from air for higher concentrations.
Market Dynamics
Growing prevalence of high disease burden across the globe
Chronic Obstructive Pulmonary Disease (COPD) significantly contributes to the global respiratory disease burden, necessitating effective respiratory therapy solutions such as oxygen therapy, with oxygen concentrators playing a vital role in addressing health issues and mortality rates. According to theAustralian Institute of Health and Welfare, in December 2023, individuals diagnosed with COPDexperienced higher rates of self-reported health issues, psychological distress, and bodily pain compared to those without the condition. COPD accounted for 3.6% of the overall disease burden and 50.0% of the respiratory disease burden in 2023. Moreover, an estimated $831.6 million was allocated for COPD treatment and management in 2020-21, which constituted 0.6% of total health system expenditure and 18.0% of respiratory condition expenditure. Additionally, COPD was the cause of fatalitiesin 7,018 individuals in 2021, representing 4.1% of all recorded mortalities.
Increasing demand for technological advancements in oxygen concentrator
The innovations in oxygen concentrator technology, including advanced features such as remote monitoring and smart connectivity, are driving market growth, improving patient comfort and treatment outcomes.According to the United Nations Children's Fund (UNICEF), in August 2021, a total of 62,046 oxygen concentrators were shipped to 104 countries, with a cumulative value of over $46.2 million. Notably, a Chinese trade company received orders for 12,788 oxygen concentrators worth more than $7.8 million.
Market Segmentation
Our in-depth analysis of the global oxygen concentrators market includes the following segments by technology, process, applications and end-user,
- Based on type, the market is sub-segmented into portable, and fixed.
- Based on technology, the market is bifurcated into continuous flow and pulse flow.
- Based on application, the market is sub-segmented into Chronic Obstructive Pulmonary Disease (COPD), asthma, respiratory distress, others (sleep apnea, interstitial lung disease, interstitial fibrosis, cystic fibrosis of lungs, postoperative care)
- Based on end-users, the market is augmented into hospitals & clinics, home care settings, and ambulatory surgical centers & physician offices.
Portable is Projected to Emerge as the Largest Segment
Based on the type, the global oxygen concentrators market is sub-segmented into portable, and fixed. Among these, the portable sub-segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includesadvanced technologies in oxygen concentrator production, with manufacturers focusing on designing products with improved efficacy and cost-effectiveness to meet increasing demand. For instance,in June 2021, Servotech Power Systems launched medical-grade oxygen concentrators. It planned to introduce 1,00,000 oxygen concentrators in India, with prices starting at $419.81. It collaborated with IISER Bhopal and IIT Jammu, to produce locally and supply hospitals, foundations, and other healthcare facilities with its products.
Home Care Settings Sub-segment to Hold a Considerable Market Share
The trend towards home-based healthcare is increasing owing to rising costs, telemedicine advancements, and patient-centered care, reducing hospital visits and improving patient outcomes. For instance, in April 2023, OxyGo, launched its latest product, the OxyHome 5L Stationary Concentrator. This is designed to provide a continuous oxygen flow of up to 5L per minute for home use. It is a sleek, compact device with a twin blower cooling design, quiet operation, and a 3-year replacement warranty for daily activities.
Regional Outlook
The global oxygen concentrators market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Increasing Demand for Healthcare Facilities Drives Market Growth in the Asia-Pacific
India's growing demand for specialized healthcare facilities is boosting the need for advanced medical equipment, including oxygen concentrators, to support respiratory therapy in hospitals, clinics, and home care settings. According to the International Trade Administration (.gov), in January 2024, the Indian healthcare industry experienced significant growth, with its market size expanding from over $370.0 billion in 2022 to a projected $610.0 billion by 2026. This growth is attributed to the increasing demand for specialized and higher-quality healthcare facilities. Furthermore, public spending on healthcare in India is expected to rise from two percent of GDP in 2022 to 2.5% by 2025, with a particular emphasis on providing healthcare services to underprivileged populations. As a result, the medical equipment sector is poised for corresponding growth.
Global Oxygen Concentrators Market Growth by Region 2024-2031
North America Holds Major Market Share
The rise in healthcare expenditure and infrastructure expansion in growing economies has increased the investment in respiratory care equipment such as, oxygen concentrators..According to the American Medical Association,in March 2023, health spending in the U.S. reached a total of $4.3 trillion, equivalent to $12,914.0 per capita. This represents a significant decrease in growth compared to the previous year, with a growth rate of only 2.7%. The decline in pandemic-related government expenditures offset the increased utilization of medical goods and services, which rebounded due to delayed care and pent-up demand from 2020.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global oxygen concentrators market include CAIRE Inc., DeVilbiss Healthcare GmbH, Invacare Corp., Inogen Inc., and Nidek Medical Products Inc., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in August 2023, VGM & Associates partnered with O2 Concepts, a provider of portable oxygen concentrators, to offer continuous flow and high-volume pulse dose oxygen therapy in a 24/7 environment, and their proprietary DNA Technology connectivity solution.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global oxygen concentrators market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Avanos Medical, Inc.
1.1.1. Overview
1.1.2. Financial Analysis
1.1.3. SWOT Analysis
1.1.4. Recent Developments
3.3. ESAB Corp.
1.1.5. Overview
1.1.6. Financial Analysis
1.1.7. SWOT Analysis
1.1.8. Recent Developments
1.2. Inogen Inc.
1.2.1. Overview
1.2.2. Financial Analysis
1.2.3. SWOT Analysis
1.2.4. Recent Developments
1.3. Key Strategy Analysis
4. Market Segmentation
4.1. Global Oxygen Concentrators Market by Type
4.1.1. Portable
4.1.2. Fixed
4.2. Global Oxygen Concentrators Market by Technology
4.2.1. Continuous flow
4.2.2. Pulse flow
4.3. Global Oxygen Concentrators Market by Application
4.3.1. Chronic Obstructive Pulmonary Disease (COPD)
4.3.2. Asthma
4.3.3. Respiratory Distress
4.3.4. Others (Sleep Apnea, Interstitial Lung Disease, Interstitial Fibrosis, Cystic Fibrosis Of Lungs, Postoperative Care)
4.4. Global Oxygen Concentrators Market by End-User
4.4.1. Hospitals & clinics
4.4.2. Home care settings
4.4.3. Ambulatory surgical centers & physician offices
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. The Middle East & Africa
6. Company Profiles
6.1. Beijing North Star Co. Ltd.
6.2. BESCO MEDICAL Ltd.
6.3. BOC Ltd.
6.4. CAIRE Inc.
6.5. DeVilbiss Healthcare GmbH
6.6. ETW International
6.7. Foshan Keyhub Electronic Industries Co.,Ltd.
6.8. GVS S.p.A.
6.9. Inova Health System Foundation (Inova)
6.10. Invacare Corp.
6.11. Nidek Medical Products Inc.
6.12. O2 Concepts, LLC
6.13. Oxus America
6.14. Oxygen Plus, Inc.
6.15. OxyGo HQ Florida, LLC.
6.16. Precision Medical, Inc.
6.17. Teijin Ltd.
1. GLOBAL OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
2. GLOBAL PORTABLE OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL FIXED OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2031 ($ MILLION)
5. GLOBAL OXYGEN CONCENTRATORS BY CONTINUOUS FLOW MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL OXYGEN CONCENTRATORS BY PULSE FLOW MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
8. GLOBAL OXYGEN CONCENTRATORS IN CHRONIC OBSTRUCTIVE PULMONARY DISEASE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL OXYGEN CONCENTRATORS IN ASTHMAMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL OXYGEN CONCENTRATORS IN RESPIRATORY DISTRESS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL OXYGEN CONCENTRATORS IN OTHER APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY END USER, 2023-2031 ($ MILLION)
13. GLOBAL OXYGEN CONCENTRATORS FOR HOSPITALS & CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL OXYGEN CONCENTRATORS FOR HOME CARE SETTINGS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL OXYGEN CONCENTRATORS FOR AMBULATORY SURGICAL CENTERS & PHYSICIAN OFFICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. GLOBAL OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. NORTH AMERICAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
18. NORTH AMERICAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
19. NORTH AMERICAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2031 ($ MILLION)
20. NORTH AMERICAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
21. NORTH AMERICAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
22. EUROPEAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
23. EUROPEAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
24. EUROPEAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2031 ($ MILLION)
25. EUROPEAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
26. EUROPEAN OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
27. ASIA-PACIFIC OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
28. ASIA-PACIFICOXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
29. ASIA-PACIFIC OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2031 ($ MILLION)
30. ASIA-PACIFIC OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
31. ASIA-PACIFIC OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
32. REST OF THE WORLD OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
33. REST OF THE WORLD OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
34. REST OF THE WORLD OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2031 ($ MILLION)
35. REST OF THE WORLD OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
36. REST OF THE WORLD OXYGEN CONCENTRATORS MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
1. GLOBAL OXYGEN CONCENTRATORS MARKETSHARE BY TYPE, 2023 VS 2031 (%)
2. GLOBAL PORTABLE OXYGEN CONCENTRATORS MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL FIXED OXYGEN CONCENTRATORS MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL OXYGEN CONCENTRATORS MARKET SHARE BY TECHNOLOGY, 2023 VS 2031 (%)
5. GLOBAL OXYGEN CONCENTRATORS BY CONTINUOUS FLOW MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL OXYGEN CONCENTRATORS BY PULSE FLOW MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL OXYGEN CONCENTRATORS MARKET SHARE BY APPLICATION, 2023 VS 2031 (%)
8. GLOBAL OXYGEN CONCENTRATORS IN CHRONIC OBSTRUCTIVE PULMONARY DISEASE MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL OXYGEN CONCENTRATORS IN ASTHMA MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL OXYGEN CONCENTRATORS IN RESPIRATORY DISTRESS MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL OXYGEN CONCENTRATORS IN OTHER APPLICATION MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL OXYGEN CONCENTRATORS MARKET SHARE BY END-USER, 2023 VS 2031 (%)
13. GLOBAL OXYGEN CONCENTRATORS FOR HOSPITALS & CLINICS MARKET SHARE BY REGION, 2023 VS 2031 (%)
14. GLOBAL OXYGEN CONCENTRATORS FOR HOME CARE SETTINGS MARKET SHARE BY REGION, 2023 VS 2031 (%)
15. GLOBAL OXYGEN CONCENTRATORS FOR AMBULATORY SURGICAL CENTERS & PHYSICIAN OFFICES MARKET SHARE BY REGION, 2023 VS 2031 (%)
16. GLOBAL OXYGEN CONCENTRATORS MARKETSHARE BY REGION, 2023 VS 2031 (%)
17. US OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
18. CANADA OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
19. UK OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
20. FRANCE OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
21. GERMANY OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
22. ITALY OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
23. SPAIN OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
24. REST OF EUROPE OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
25. INDIA OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
26. CHINA OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
27. JAPAN OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
28. SOUTH KOREA OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
29. REST OF ASIA-PACIFIC OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
30. LATIN AMERICA OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
31. MIDDLE EAST AND AFRICA OXYGEN CONCENTRATORS MARKET SIZE, 2023-2031 ($ MILLION)
