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Robust Growth in Oxygen Concentrators Market: Insights on Market Size, CAGR, Key Drivers and Emerging Trends
Oxygen Concentrators Market Size
What Is The Projected Market Size Of The Global Oxygen Concentrators Market And Its Growth Rate?
Strong growth has been recorded in the global oxygen concentrators market with critical factors influencing the curve:
• The market size was $2.27 billion in 2024, which is expected to reach $2.39 billion in 2025, growing at a CAGR of 5.3%.
• Growth factors of this period included emerging markets growth, a low-interest rate environment, the increased prevalence of respiratory diseases, an increasing elderly population, rising pollution levels, COVID-19 pandemic, and escalating numbers of smokers in developing nations.
• Forecasts predict the market size to reach $3.18 billion in 2029, growing at a CAGR of 7.4%.
• Key trends driving the forecast period's growth include the development of smart oxygen concentrators, portable oxygen concentrators, a rise in partnerships and acquisitions, technological advancements, new payment plans, and an increasing number of patent filings.
What Is Driving The Growth In The Oxygen Concentrator Market?
The increased prevalence of respiratory disorders globally is significantly impacting the growth in the oxygen concentrators market. Respiratory diseases like asthma and chronic obstructive pulmonary disease (COPD) are common across the globe. As per the report by the American Lung Association published in February 2023, chronic lung illnesses such as asthma or COPD, including emphysema and chronic bronchitis, affect more than 34 million Americans. Moreover, over 25 million Americans, including more than 4 million children, have breathing difficulties because of asthma, leading to increased demand for oxygen concentrators.
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Who Are the Key Players Driving Oxygen Concentrators Market Growth?
Several significant players are contributing to the oxygen concentrators market's growth:
• 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 Are The Key Trends In The Oxygen Concentrators Market?
Forward-looking trends in the oxygen concentrators market include:
• Development of smart oxygen concentrators
• Uptake of portable oxygen concentrators
• Rise in partnerships and acquisitions
• Technological advancements
• New payment plans
• An increasing number of patent filings
What Are The Segments Of The Global Oxygen Concentrators Market?
Segregating the oxygen concentrators market offers four salient segments:
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
Which Region Leads The Oxygen Concentrators Market?
North America led the oxygen concentrators market in 2024, closely followed by Europe. Future trends suggest strong growth potential in these regions, supplemented by Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Oxygen Concentrators Market Global Market Report?
- Market Size Analysis: Analyze the Oxygen Concentrators Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Oxygen Concentrators Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Oxygen Concentrators Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Oxygen Concentrators Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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