Oxygen Concentrators Market: Detailed Insights, Market Size, Share, Segmentation, and Future Growth Prospects

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Oxygen Concentrators Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.33 billion In 2028 At A CAGR Of 8.2% :

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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Oxygen Concentrators Market Major Segments
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

Key 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.

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Prominent 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.

Oxygen Concentrators Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the oxygen concentrators market in 2023. 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.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Oxygen Concentrators Market Report Structure
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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