Medical Oxygen Concentrators Market Size Worth USD 2.3 Billion in 2032 | Emergen Research

The Medical Oxygen Concentrators market size reached USD 1.30 Billion in 2022 and is expected to register a revenue CAGR of 5.8% during the forecast period. The global market for medical oxygen concentrators is witnessing steady growth, driven by factors such as the increasing prevalence of respiratory diseases like chronic obstructive pulmonary disease (COPD) and asthma. A recent market research report highlights the key drivers, trends, and challenges shaping the industry.

The rise in chronic respiratory diseases, coupled with a growing population susceptible to indoor and environmental air pollution, has led to a surge in demand for medical oxygen concentrators. These devices, which extract oxygen from ambient air, are crucial for patients suffering from conditions causing a decline in oxygen levels within the body.

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Key Market Drivers:

1. Increasing Demand for Portable and Homecare Oxygen Concentrators: With more individuals opting for home-based oxygen therapy, the demand for portable and homecare oxygen concentrators is on the rise. Advancements such as OxyGo's OxyHome 5L Stationary Concentrator and innovations by leading providers like OMRON Healthcare and Belluscura are contributing significantly to market growth.

2. Rise in Respiratory Diseases Cases Globally: Chronic respiratory diseases, including COPD and asthma, continue to be a significant global health concern. According to the World Health Organization (WHO), COPD alone caused over 3 million deaths in 2019. The establishment of initiatives like 'The Global Alliance against Chronic Respiratory Diseases (GARD)' underscores the urgent need to address these issues.

3. Outbreak of COVID-19 Pandemic: The COVID-19 pandemic has further emphasized the importance of oxygen concentrators in healthcare settings. Governments worldwide, such as the United States, have initiated efforts to provide essential medical equipment to combat the virus, driving market growth.

4. Rapid Technological Advancements: Technological innovations, including molecular sieve-based concentrators and portable oxygen concentrators, are revolutionizing the industry. Companies like Emerson and VARON are at the forefront of introducing advanced solutions to meet evolving patient needs.

Challenges Facing the Market:

1. High Cost of Medical Oxygen Concentrators: The high cost of medical oxygen concentrators, coupled with low awareness in certain regions, poses a challenge to market expansion, particularly in developing countries.

2. Strict Regulations and Government Policies: Stringent regulatory requirements, including FDA standards, can hinder the introduction of new products into the market, impacting growth opportunities for manufacturers.

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Segment Insights:

• Product Type: Stationary/fixed oxygen concentrators dominate the market, driven by the rising prevalence of chronic diseases and advancements in respiratory therapy solutions. Portable oxygen concentrators, on the other hand, are experiencing steady growth due to their convenience and effectiveness.

• Application: Chronic obstructive pulmonary diseases (COPD) represent the largest segment, followed by asthma. The increasing incidence of these conditions necessitates the adoption of oxygen concentrators for both hospital and home-based treatment.

• End-Use: Hospitals are the primary end-users of medical oxygen concentrators, accounting for the largest revenue share. The need for advanced respiratory therapy solutions in hospital settings is propelling market growth.

Medical Oxygen Concentrators Top Companies and Competitive Landscape

The global Medical Oxygen Concentrators market is consolidated with few market players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Medical Oxygen Concentrators solutions.

Some major players included in the global Medical Oxygen Concentrators market report are:

• O2 Concepts, LLC
• Inogen, Inc.
• Koninklijke Philips N.V.
• Nidek Medical India.
• Drive DeVilbiss International
• Chart Industries
• Air Water Inc.
• Precision Medical, Inc.
• Besco Medical
• BOC
• Yuwell Medical
• React Health
• CAIRE Inc.
• GCE Group
• Supera Anesthesia Innovations
• Teijin Limited
• Foshan keyhub Electronic industries Co. ltd.
• Zadro Inc.

Medical Oxygen Concentrators Latest Industry Updates

• On 2 May 2021, Fosun and Baoding Med-Joy Medical both are leading provider of molecular sieve oxygen concentrator, are teamed up and announced the delivery of another batch of medical 15,000 Med-Joy oxygen concentrators to provide oxygen supply to frontline areas affected by COID-19 pandemic in India.

• On 1 August 2023, VGM and Associates announced the partnership with O2 Concepts, a leading company that provide portable oxygen concentrators (POCs) to deliver continuous flow and high-volume pulse dose oxygen therapy for great mobility and quality.

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Medical Oxygen Concentrators Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global Medical Oxygen Concentrators market on the basis of Product Type, Technology, Application, End-Use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o Portable Oxygen Concentrators
o Stationary/ Fixed Oxygen Concentrators
• Technology Outlook (Revenue, USD Billion; 2019-2032)
o Continues Flow Oxygen Concentrators
o Pulse Flow Oxygen Concentrators
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Chronic Obstructive Pulmonary Diseases (COPD)
o Asthma
o Respiratory Diseases
o Sleep Apnea
o Others
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals
o Home care Settings
o Ambulatory Surgical Center
o Travel Agents
o Others

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