How large is the oxygen concentrators market, and what is its growth trajectory?
The oxygen concentrators market size has grown strongly in recent years. It will grow from $2.27 billion in 2024 to $2.39 billion in 2025 at a compound annual growth rate (CAGR) of 5.3%. 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 $3.18 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to the increasing elderly population, increasing focus on home healthcare, increasing healthcare access, and technological advancements. Major trends in the forecast period include the development of smart oxygen concentrators, and portable oxygen concentrators, a rise in partnerships and acquisitions, technological advancements, new payment plans, and an increasing number of patent filings.
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What are the key forces behind the oxygen concentrators market’s growth in recent years?
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.
What are the major segments of 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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Which companies dominate the oxygen concentrators market?
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 major trends will shape the oxygen concentrators market during the forecast period?
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 2024, Drive DeVilbiss Healthcare, a US-based leading manufacturer of durable medical equipment, in partnership with Sanrai International, a US-based company provides innovative medical equipment, has introduced the PulmO2 10L Oxygen Concentrator. This device is designed to be energy-efficient and durable, making it ideal for use in demanding clinical environments. The PulmO2 aims to deliver reliable oxygen therapy, particularly in low-resource settings, and is expected to significantly lower energy costs compared to traditional 10L concentrator.
What are the key regional dynamics of the oxygen concentrators market, and which region leads in market share?
The countries covered in the oxygen concentrators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Oxygen Concentrators Market Report 2025 Offer?
The oxygen concentrators market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Oxygen concentrators are devices that separate nitrogen and oxygen from the air in the environment and provide pure oxygen to the patient. These are used for supplying oxygen to patients suffering from respiratory diseases.
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