What Does the Historical and Current Oxygen Concentrators Market Size Trend Indicate?
The oxygen concentrators market has seen considerable growth due to a variety of factors.
• There has been a robust expansion in the size of the oxygen concentrators market in the past few years. The market is projected to swell from $2.27 billion in 2024 to $2.39 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.3%.
Factors contributing to this growth during the historic period include the expansion of upcoming markets, a climate of low interest rates, a surge in respiratory diseases, an increasing older populace, escalating pollution levels, the impact of the COVID-19 pandemic, and the rising number of smokers in developing countries.
How Will the Oxygen Concentrators Market Size Evolve over the Forecast Period?
The oxygen concentrators market is expected to maintain its strong growth trajectory in upcoming years.
• The market for oxygen concentrators is projected to experience robust expansion in the coming years, with its value estimated to reach $3.18 billion by 2029 growing at a compound annual growth rate (CAGR) of 7.4%.
This growth over the forecast period is largely owing to the rise in the elderly population, growing emphasis on home-based healthcare, enhanced access to healthcare, and technological progression. Key trends observed during the forecast period include the evolution of intelligent oxygen concentrators, mobile oxygen concentrators, an uptick in strategic partnerships and acquisitions, technological breakthroughs, introduction of new payment schemes, and a rise in the count of patent registrations.
What Are the Critical Driver Fuelling the Oxygen Concentrators Market's Growth?
The rising incidence of respiratory diseases worldwide is fuelling the expansion of the oxygen concentrators market. Around the world, asthma and chronic obstructive pulmonary disease (COPD) are the predominant chronic respiratory conditions. For instance, the American Lung Association reported in February 2023 that over 34 million Americans suffer from chronic lung diseases like asthma and COPD, including emphysema and chronic bronchitis. Furthermore, asthma causes breathing difficulties for over 25 million Americans, including more than 4 million children. Thus, the escalating prevalence of respiratory ailments is propelling the growth of the oxygen concentrators market.
What Key Areas Define The Segmentation Of The Global Oxygen Concentrators Market?
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
Subsegments:
1) By Portable: Battery-Operated Portable Concentrators, Travel-Friendly Models, Compact And Lightweight Designs
2) By Stationary: Continuous Flow Concentrators, Pulse Dose Concentrators, High-Flow Stationary Models
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How Are Emerging Trends Reshaping The Dynamics Of The Oxygen Concentrators Market?
The oxygen concentrators market has been witnessing a surge in investment by companies into innovative technologies like artificial intelligence and affordable portable devices, aimed at enhancing the effectiveness of these oxygen concentrators. An amplified need for portable, reasonably priced concentrators has emerged in the wake of the pandemic. An example illustrating this trend is the introduction of the PulmO2 10L Oxygen Concentrator in March 2024 by the US-based durable medical equipment industry leader Drive DeVilbiss Healthcare, and Sanrai International, also based in the US and known for offering groundbreaking medical equipment. The device, boasting energy-efficiency and robust construction, is perfectly suited for utilization in challenging clinical settings. The PulmO2 is built with an intention of delivering dependable oxygen therapy, notably in areas with constrained resources, and it's expected to dramatically reduce energy expenses in comparison to the conventional 10L concentrator.
Who Are the Key Players in the Oxygen Concentrators Market?
Major companies operating in the oxygen concentrators market include:
• Inogen Inc
• Koninklijke Philips N.V
• Invacare Corporation
• CAIRE Inc
• O2 Concepts LLC
• Nidek Medical Products Inc.
• Precision Medical Inc
• Drive Devilbiss Healthcare Ltd
• 3B Medical Inc
• BPL
• Evox Oxygen Concentrators
• Nanjing Everich Medicare Import & Export Co. Ltd
• AngelBiss Medical Technology Co. Ltd
• Hefei DX Medical Co. Ltd
• Longfian Scitech Co. Ltd
• Air Liquide Sanita Service
• Pure O2
• Heinen + Lowenstein GmbH & Co. KG
• DeVilbiss Healthcare GmbH
• Chart Industries Inc
• White Martins
• Linde Plc
• ResMed
What Is The Most Dominant Region In The Oxygen Concentrators Market?
North America was the largest region in the oxygen concentrators market in 2024. 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.
