Categories: Healthcare

Homecare Oxygen Concentrators Market Size Report, 2032

The Oxygen Concentrators Global Market Report 2023 by The Business Research Company, provides oxygen concentrators market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Oxygen Concentrators Global Market Report 2023, the market size is expected to grow from $2.83 billion in 2022 to $3.01 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the oxygen concentrators market is expected to grow to $4.06 billion in 2027 at a CAGR of 7.8%.

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.

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The oxygen concentrators market is segmented:

1) By Type: Portable, Stationary

2) By Technology: Pulse Dose, Continuous Flow, Other Technologies

3) By Application: Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Pneumonia, Other Applications

4) By End User: Hospitals, Home Care, Other End Users

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.

The oxygen concentrators market report table of contents includes: