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Oxygen Concentrators Market 2024 Opportunities, Segmentation, Growth Rate And Competitive Strategies By 2033
Oxygen Concentrators Market
The Business Research Company offers in-depth market insights through Oxygen Concentrators Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - Global Surge In Respiratory Disorders Propels Growth Of The Oxygen Concentrators Market
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.
Competitive Landscape:
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
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Top Trend - Technological Advancements Drive Oxygen Concentrator Market With AI Integration And Portable Innovations
Companies in the oxygen concentrators market are increasingly investing in technologies such as artificial intelligence and low-cost portable devices to improve the functionality of these oxygen concentrators. There has been a growing demand for portable, low-cost concentrators owing to the pandemic. For instance, in March 2021, a team of researchers at MIT's Electrochemical Energy Lab (EEL) launched a low-cost portable concentrator that can be adopted in places with limited infrastructure and high demand. The companies such as Servotech Power Systems, an India-based manufacturer of LED lights and solar products is manufacturing the noiseless, lightweight, and portable oxygen concentrator equipment that provides a constant flow of oxygen and can be easily adjusted to meet the needs of the patient.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Oxygen Concentrators Market Characteristics
3. Oxygen Concentrators Market Trends And Strategies
4. Oxygen Concentrators Market - Macro Economic Scenario
5. Oxygen Concentrators Market Size And Growth
…..
27. Oxygen Concentrators Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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