Global Oxygen Concentrators Market to Reach $6.06 Billion by 2030, Growing at a CAGR of 5.90%, Reports Allied Market Research

Allied Market Research has published a new report titled "Oxygen Concentrators Market - Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global oxygen concentrators market was valued at $3,300 million in 2020 and is estimated to reach $6,063.90 million by 2030, registering a CAGR of 5.90% from 2021 to 2030.

Market Overview

Oxygen concentrators are medical devices widely used by healthcare professionals for therapeutic and diagnostic purposes. These devices concentrate oxygen from ambient air by selectively removing nitrogen, delivering an oxygen-enriched gas stream to patients who require supplemental oxygen due to low blood oxygen levels. They are increasingly preferred in home healthcare settings, particularly by elderly patients with mobility challenges who depend on a continuous oxygen supply.

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Key Market Drivers

The growth of the oxygen concentrators market is primarily propelled by several critical factors:

• Rising prevalence of chronic diseases such as COPD, emphysema, and chronic bronchitis, which necessitate long-term oxygen therapy.

• Surging global COVID-19 cases that created unprecedented demand for medical oxygen across hospitals, home care, and emergency settings.

• Growing geriatric population worldwide that is more susceptible to respiratory conditions and requires continuous oxygen support.

• Increasing daily exposure to environmental and indoor air pollutants that impair lung function.

• Expanding home healthcare sector driven by patient preference for recovery in comfortable settings.

• Rising number of active smokers contributing to chronic pulmonary conditions requiring supplemental oxygen.

Market Restraints & Opportunities

Despite strong growth momentum, the market faces challenges including the high cost of oxygen concentrators and stringent regulatory procedures governing medical device approvals. However, these barriers are offset by significant opportunities, particularly in emerging economies where healthcare infrastructure is rapidly expanding. The growing geriatric population globally and increasing demand for home-based oxygen therapy present lucrative avenues for market participants during the forecast period.

Market Segmentation Highlights

The global oxygen concentrators market is segmented by technology, product, end user, and region:

• By Technology: Pulse Flow and Continuous Flow - the Continuous Flow segment held the dominant market share in 2020 and is expected to maintain its leadership throughout the forecast period.

• By Product: Portable and Fixed - the Fixed segment dominated in 2020; however, Portable concentrators are emerging as the most lucrative segment due to rising demand for home use and emergency preparedness.

• By End User: Hospital, Home Healthcare, and Ambulatory Surgical Centers & Physician Offices - Ambulatory Surgical Centers & Physician Offices held the dominant position in 2020.

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Regional Analysis

North America led the global oxygen concentrators market in 2020, driven by the high prevalence of COVID-19 cases, an aging population, and a well-established healthcare infrastructure. Europe followed as the second-largest market. Meanwhile, Asia-Pacific is anticipated to register the highest CAGR of 7.90% during 2021-2030, owing to rapidly increasing prevalence of chronic and infectious diseases, higher population base, development in healthcare infrastructure, and a growing number of hospitals equipped with advanced medical facilities.

Competitive Landscape

The global oxygen concentrators market is highly competitive, with major players focusing on expanding production capacities and delivery services to meet rising demand. Key companies profiled in the report include:

Koninklijke Philips N.V., Invacare Corporation, DeVilbiss Healthcare LLC, Inogen, Inc., Chart Industries, Inc. (AirSep), Nidek Medical, O2 Concepts, Teijin Limited, Supera Anesthesia Innovations, and GCE Group.

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"The global oxygen concentrators market gained significant prominence in 2020 and is expected to witness remarkable growth in the coming years. The surge in chronic disease prevalence, increase in FDA approvals for medical gas equipment, and rising demand for home healthcare settings are reinforcing long-term market growth.

Key market players are actively expanding their production and distribution capacities to capitalize on this growing demand."

- Analyst Commentary, Allied Market Research

About the Report

The report, authored by Apoorva Srivastava and Eswara Prasad, covers 200 pages with 110 data tables and 28 charts. It provides an extensive analysis of current and emerging market trends, competitive landscape across regions, and comprehensive evaluation of factors that drive and restrict market growth. Region- and country-wise analysis is included to help stakeholders understand market dynamics at a granular level.

Report Code: A10874 | Published: August 2021 | Forecast Period: 2021-2030

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About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." The company has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth.

This release was published on openPR.