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Oxygen Concentrators Market Size Forecasted To Achieve $3.18 Billion By 2029 With Steady Growth
Oxygen Concentrators Market
What Is the Oxygen Concentrators Market Size and Projected Growth Rate?
The market size of oxygen concentrators has seen substantial growth in the past few years. The market is expected to increase from $2.27 billion in 2024 to $2.39 billion in 2025, resulting in a compound annual growth rate (CAGR) of 5.3%. The factors responsible for this significant growth during the historic period include growth in emerging markets, low-interest rates, increased incidence of respiratory diseases, rising elderly population, increasing pollution levels, the impact of the COVID-19 pandemic, and the growing number of smokers in developing countries.
The size of the oxygen concentrators market is anticipated to witness robust expansion in the coming few years. It is expected to reach $3.18 billion by 2029, multiplying at a compound annual growth rate (CAGR) of 7.4%. The surge in this market over the forecast period can be credited to a growing older population, heightened attention on home healthcare, enhanced reach to healthcare services, and the progression of technology. Key trends predicted in the forthcoming period encompass the rise of intelligent and portable oxygen concentrators, an increase in industry collaborations and acquisitions, technological breakthroughs, introduction of innovative payment plans and a surge in the registering of patents.
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What Are the Major Segments in the 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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What Are The Driving Oxygen Concentrators Market Evolution?
The growth of the oxygen concentrators market is being propelled by the worldwide increase in respiratory diseases. Asthma and chronic obstructive pulmonary disease (COPD), the most prevalent chronic respiratory conditions globally, are significant contributors. The American Lung Association, a voluntary organization in the US focused on lung health and disease prevention, reported in February 2023 that over 34 million Americans suffer from chronic lung diseases, including asthma or COPD as well as emphysema and chronic bronchitis. Moreover, breathing difficulties because of asthma affect over 25 million Americans, of which more than 4 million are children. Consequently, the rising number of respiratory disorder cases is fueling the expansion of the oxygen concentrators market.
Which Firms Dominate The Oxygen Concentrators Market Segments?
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 Trends Are Driving Growth in The Oxygen Concentrators Market?
Companies operating within the oxygen concentrators market have been augmenting their investments in artificial intelligence and affordable, portable devices, to enhance the level of functionality. This has been predominantly driven by the escalated demand for such low-cost, portable concentrators during the pandemic. Illustrating this trend, in March 2024, Drive DeVilbiss Healthcare, a noted US manufacturing firm specializing in durable medical equipment, announced collaboration with Sanrai International -an innovative medical equipment firm also based in the US. Together, they launched the PulmO2 10L Oxygen Concentrator, designed to be both energy-effective and sturdy, making it a perfect fit for high-demand clinical scenarios. The PulmO2 is intended to provide dependable oxygen therapy, specifically in contexts with limited resources and is foreseen to drastically reduce energy expenditure in comparison to conventional 10L concentrator.
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Which Is The Largest 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Oxygen Concentrators Market?
2. What is the CAGR expected in the Oxygen Concentrators Market?
3. What Are the Key Innovations Transforming the Oxygen Concentrators Industry?
4. Which Region Is Leading the Oxygen Concentrators Market?
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