Global Portable Oxygen Concentrators Market - 2024-2031

Global Portable Oxygen Concentrators Market - 2024-2031

The global portable oxygen concentrators market reached US$ 2.09 billion in 2023 and is expected to reach US$ 5.06 billion by 2031, growing at a CAGR of 11.8% during the forecast period 2024-2031.

Portable Oxygen Concentrators (POCs) are compact, lightweight devices that provide supplemental oxygen to individuals with respiratory needs while away from home. These machines draw in ambient air, filter it, and deliver concentrated oxygen through a nasal cannula or mask. POCs typically utilize battery power, AC electricity, or DC power, making them versatile for various settings, including travel.

Portable oxygen concentrators deliver oxygen primarily through pulse dose systems, releasing oxygen in bursts with each inhalation, although some models also offer continuous flow options. The growing acceptance of POCs by airlines for in-flight use has further enhanced their popularity among users who require oxygen therapy during travel.

Market Dynamics: Drivers & Restraints

Rising adoption of portable oxygen concentrators

The portable oxygen concentrators (POCs) market is experiencing significant growth, largely driven by the increasing adoption of these devices. Several key factors contribute to this trend, including advancements in technology, a growing patient population, and evolving healthcare dynamics. As the global population ages, there is a corresponding rise in age-related respiratory issues. Older adults are particularly vulnerable to conditions like chronic obstructive pulmonary disease (COPD) and other chronic lung diseases, which often necessitate long-term oxygen therapy. For instance, the Centers for Disease Control and Prevention stated that in 2021, more than 15 million Americans (6.4%) reported that they had been diagnosed with COPD.

Elderly patients, who are more likely to require oxygen therapy, prefer portable solutions that enable them to maintain their daily activities and active lifestyles. For instance, according to the National Institute of Health in 2024, each year, approximately 1.5 million patients in the USA receive long-term oxygen therapy. This demographic shift significantly boosts the demand for POCs. Many individuals requiring long-term oxygen therapy favor portable concentrators for home use over stationary systems or cylinders. POCs allow users to maintain mobility within their homes and facilitate outdoor activities.

Modern devices are now smaller, lighter, and more user-friendly compared to earlier models. Innovations in battery technology have enhanced the portability of these concentrators, resulting in longer battery life and improved comfort during use, making them more appealing to patients.

Limited oxygen flowrates

The portable oxygen concentrators (POCs) market is experiencing steady growth, primarily driven by the increasing prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, and the aging population. However, the market faces challenges due to the limited oxygen flow rates offered by many devices.

Portable oxygen concentrators generally provide oxygen flow rates between 1 to 3 liters per minute (LPM) for continuous flow, with higher rates available for pulse flow settings. However, patients with more severe respiratory conditions may require higher flow rates, such as 5 LPM or more. This limitation restricts the usability of many POCs for individuals with advanced-stage COPD or other serious respiratory diseases, thereby narrowing the target market for manufacturers. Thus, the above factors could hinder the market growth.

Segment Analysis

The global Portable Oxygen Concentrators market is segmented based on product type, application, end-user and region.

Product Type:

Continuous flow oxygen concentrators segment is expected to dominate the portable oxygen concentrators market share

The continuous flow oxygen concentrators segment is expected to dominate the portable oxygen concentrators market. Continuous flow concentrators are particularly advantageous for patients with severe respiratory conditions, as they provide a steady supply of oxygen without the need for breath detection technology, making them more reliable for those requiring higher flow rates.

Additionally, advancements in technology have improved the efficiency and reliability of these devices, enhancing their appeal in both home healthcare settings and medical facilities. The cost-effectiveness of continuous flow concentrators, which tend to be cheaper than pulse flow models due to their simpler design, also contributes to their growing market dominance. For instance, the range of continuous flow portable oxygen concentrators begins from Philips SimplyGo, costing around ₹ 1.80 Lakh, to the top-end SeQual Eclipse, costing around ₹ 3.20 Lakh. This makes the consumers feel convenient over the other types.

Geographical Analysis

North America is expected to hold a significant position in the portable oxygen concentrators market share

North America holds a major portion of the portable oxygen concentrators market and is expected to hold a significant position in the portable oxygen concentrators market. This is due to the growing adoption of portable oxygen concentrators, the increasing number of product launches, and the rising prevalence of respiratory diseases.

The region is experiencing high rates of respiratory diseases such as asthma and COPD among others which increases the need for oxygen therapy. Increasing these conditions in the region increases the demand for these devices. For instance, according to the Asthma and Allergy Foundation of America, nearly 28 million people in the U.S. have asthma. This equals about 1 in 12 people. Nearly 23 million U.S. adults ages 18 and older have asthma. Asthma rates are highest in Black adults in the U.S.

The presence of a large number of key players in the region is also contributing to the growth of the region’s market. Companies are introducing the latest portable oxygen concentrators in the region. For instance, in October 2024, Inogen, Inc. announced that it had commenced the U.S. market release of the Inogen Rove 4 Portable Oxygen Concentrator. With an additional, fourth flow setting delivering up to 840ml/min of medical grade oxygen, in a lightweight user-friendly design of less than 3 lbs1 and three battery configurations providing up to 5 hours and 45 minutes of operation2, the versatility of Rove 4 empowers patients with choices that may help them with normal activities of daily living.

Thus, rising technological advancements, increasing adoption and rising number of launches of the products in the region are expected to drive the region’s market growth.

Asia-Pacific is growing at the fastest growing pace in the portable oxygen concentrators market

Asia-Pacific is at the fastest growing pace in portable oxygen concentrators. This is due to the rising number of launches of advanced oxygen concentrators and rising technological advancements in the region. There is a growing number of respiratory diseases among individuals in the region who are receiving oxygen therapies which is raising the demand for portable oxygen concentrators which makes the individuals carry them easily.

There is a growing adoption of portable oxygen concentrators among individuals in the region. With the rising number of Asthma patients, the need for these devices is rising. For instance, according to the report by the Global Asthma Network in 2022, among India’s 1.36 billion people, about 35 million suffer from asthma.

Competitive Landscape

The major global players in the portable oxygen concentrators market include Inogen, Inc., Koninklijke Philips N.V., Pure O2 Ltd, Belluscura, BPL Medical Technologies, GCE Group, Timago, CAIRE Inc., ResMed, and Invacare Corporation among others.

Why Purchase the Report?
• Pipeline & Innovations: Reviews ongoing clinical trials, and product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
• Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The Global portable oxygen concentrators market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2023
• Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
• Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists.
• Technology & Innovation: AI/Robotics Providers, R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
• Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
• Consulting & Advisory: Healthcare Consultants, Industry Associations, Analysts.
• Supply Chain: Distribution and Supply Chain Managers.
• Consumers & Advocacy: Patients, Advocacy Groups, Insurance Companies.
• Academic & Research: Academic Institutions.