Oxygen Concentrators- Market Insights, Competitive Landscape and Market Forecast–2026

Oxygen Concentrators- Market Insights, Competitive Landscape and Market Forecast–2026

Oxygen Concentrators Market By Type (Portable, Stationary), By Technology (Continuous Flow, Pulse Flow), By Application (Copd, Asthma, And Others), By End-User (Hospitals & Clinics, Ambulatory Care Centers, And Others), By Geography is expected to grow at a steady CAGR forecast till 2026 owing to recent outbreak of covid-19 pandemic and rising prevalence of respiratory diseases such as asthma

Global Oxygen Concentrators Market was valued at USD 1.44 billion in 2020, growing at a CAGR of 8.80% during the forecast period from 2021 to 2026, to reach USD 2.42 billion by 2026. The demand for Oxygen Concentrators is primarily attributed to the recent outbreak of the COVID-19 pandemic, increasing prevalence of respiratory disorders, technological advancements, rising geriatric population susceptibility to chronic diseases, and rise in air pollution due to tobacco smoking.

Oxygen Concentrators Market Dynamics:

Oxygen Concentrators Market has significantly increased due to the growing burden of respiratory diseases throughout the world, and oxygen concentrators play an important role in providing supplemental oxygen for pulmonary disorders such as COPD, asthma, bronchitis, emphysema, lung cancer, and acute pneumonia. As per World Health Organization (WHO) 2019, asthma affected an estimated 262 million people and caused 461,000 deaths worldwide, in 2019. Additionally, chronic obstructive pulmonary disease (COPD) is the third-most-leading cause of death, causing 3.23 million deaths. Environmental exposure to tobacco smoke, indoor air pollution, and occupational dust, fumes, and chemicals are important risk factors for COPD. As per WHO 2021 data, Pneumonia alone accounts for 800,000 deaths per year. It is estimated that 20–40% of these deaths could be prevented with the availability of oxygen therapy. Oxygen concentrators are used by patients requiring supplemental oxygen for respiratory disorders, thus, emphasizing the demand for Global Oxygen Concentrators Devices.

In addition, the oxygen concentrating field is advancing at a great pace, stimulated by advancements in innovative technologies. For instance, novel devices have been developed that automatically adjust oxygen flow rates to the needs of every patient, in order to maintain stable oxygen-saturation levels. Also, manufacturers are working towards a silent compressor motor, allowing for minimal noise pollution in confined spaces. These systems can potentially reduce medical error, improve morbidity and mortality, and reduce care costs. Such technological advancement in the field of Oxygen Concentrators is likely to boost the Global Oxygen Concentrators Market.

Moreover, the shift in trends from fixed to portable equipment is also fuelling the Global Oxygen Concentrators Market. For instance, in March 2021, X-PLO₂R, a portable oxygen concentrator developed by Belluscura and its research partner Separation Design Group, has been cleared for commercialization in the US.

The COVID-19 pandemic has also created momentum in the demand for Oxygen Concentrator which is driving the growth of the Global Oxygen Concentrator Market across the globe. This contagious respiratory disease severely declines the oxygen level of patients, thereby creating a need for Oxygen which requires the Oxygen Concentrators Devices, thus the growth is observed in the market.

Some other factors such as the high cost of devices during the pandemic and strict regulatory guidelines by the government causing delays in product approvals pose a minor hurdle for the growth of the Global Oxygen Concentrators Market.

Oxygen Concentrators Market Segment Analysis:

Oxygen Concentrators Market by Type (Portable, Stationary), Oxygen Concentrators Market by Technology (Continuous Flow, Pulse Flow), Oxygen Concentrators Market by Application (COPD, Asthma, and Others), Oxygen Concentrators Market By End-User (Hospitals & Clinics, Ambulatory Care Centers, and Others), Oxygen Concentrators Market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

The portable Oxygen Concentrators segment of the Global Oxygen Concentrator market held the major share in the year 2020 and will continue to do the same during the forecast period from 2021-2026. The rapid growth of this product segment can be attributed to the increasing demand for such light weighted device, extended battery life, the need for greater mobility support for the elderly. Moreover, noise level control and compact packaging features also promote adaptability for such devices.

Since the beginning of the COVID-19 pandemic, the demand for Portable Oxygen Concentrators has been on the rise. The major utility of Portable Oxygen Concentrators is that, they can easily be operate at home, easy in shifting along with the patient, and doesn’t need to be refilled again and again unlike cylinders which are periodically refilled at Oxygen outlets. Therefore, the growing demand for the treatment benefits are driving the Portable Oxygen Concentrators market growth.

In addition, new product approvals are also likely to upsurge the Oxygen Concentrators market during the forecasted period. Hence, all the above-mentioned factors are expected to drive the segment growth of the Oxygen Concentrators market.

North America is expected to dominate the overall Oxygen Concentrators Market:

North America is expected to dominate the overall Oxygen Concentrators market during the forecast period. This domination is due to the rising prevalence of respiratory diseases such as COPD, asthma, bronchitis, emphysema, lung cancer, and acute pneumonia. As per National Health Interview Survey data 2019, approximately 25 million Americans have asthma. This equals to about 1 in 13 Americans, including 8 percent of adults and 7 percent of children. Moreover, about 20 million US adults age 18 and over have asthma.

Additionally, according to National Center for Health Statistics (1999-2018), on average, ten Americans die from asthma each day. As per Asthma and Allergy Foundation of America (AAFA), in 2019, 3,524 people died from asthma. Many of these deaths are avoidable with proper treatment and care which require the oxygen concentrators. Thus, the burgeoning cases of respiratory diseases will contribute to the growth of the Oxygen Concentrators Market in the region as the demand for Oxygen Concentrator is increasing.

Further, in North America and at global level the United States represents the largest market worldwide supported by developed healthcare infrastructure and strong adoption of technological advanced products owing to the rise in healthcare expenditure by the government and increase prevalence and incidence of respiratory disease as mention above.

Europe and Asia-Pacific region have the future potential growth for the Global Oxygen Concentrators market. This is owing to the rising burden of the respiratory diseases and COVID-19 cases in the European region countries and Asian countries. Rising product launch and commercialization agreements among the key manufacturers and other companies are anticipated to boost the global Oxygen Concentrators market.

Oxygen Concentrators Market Key Players:

Some of the key market players operating in the Oxygen Concentrators market include Koninklijke Philips N.V., O2 CONCEPTS®, LLC, Invacare Corporation, Chart Industries, Inc. (AirSep) DeVilbiss Healthcare LLC, Inogen, Inc., Teijin Limited, GCE Group, Oxygen Solutions Inc., Besco Medical Limited, Medtronic PLC, ResMed, Precision Medical, Inc., BPL Medical Technologies Private Limited, CAIRE, Inc., Foshan Keyhub Electronic Industries Co., Ltd., NGK SPARK PLUG CO., LTD., Linde PLC, Longfian Scitech Co. Ltd., Inova Labs Inc. and others.

 

Recent Developmental Activities in the Oxygen Concentrators Market:

● On June 16, 2020, Servotech Power Systems launched medical grade oxygen concentrators.

● On April 03, 2019, Inogen, Inc. announced its launch of Inogen One G5, a lightweight and easy-to-carry oxygen concentrator.

● In October 2019, Precision Medical launched new portable oxygen concentrator, Live Active Five, designed to assist people affected with COPD.

 

Key Takeaways from the Oxygen Concentrators Market Report Study

● Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)

● The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Oxygen Concentrators market.

● Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

● Key companies dominating the Global Oxygen Concentrators Market.

● Various opportunities are available for the other competitor in the Oxygen Concentrators Market space.

● What are the top-performing segments in 2020? How these segments will perform in 2026.

● Which are the top-performing regions and countries in the current market scenario?

● Which are the regions and countries where companies should have concentrated on opportunities for Oxygen Concentrators market growth in the coming future?

Target Audience who can be benefited from this Oxygen Concentrators Market Report Study

● Oxygen Concentrators providers

● Research organizations and consulting companies

● Oxygen Concentrators related organization, association, forum, and other alliances

● Government and corporate offices

● Start-up companies, venture capitalists, and private equity firms

● Distributors and Traders in Oxygen Concentrators

● Various End-users want to know more about the Oxygen Concentrators Market and the latest technological developments in the Oxygen Concentrators market.



Frequently Asked Questions for Oxygen Concentrators Market:

1. What is Oxygen Concentrators?

 An oxygen concentrator is a device that helps to concentrates the oxygen from a gas supply and selectively removes the nitrogen to supply an oxygen-enriched product gas stream to respiratory disease affected patients.

2. What is the market for Global Oxygen Concentrators?

 Global Oxygen Concentrators Market was valued at USD 1.44 billion in 2020, growing at a CAGR of 8.80% during the forecast period from 2021 to 2026, to reach USD 2.42 billion by 2026.

3. What are the drivers for Global Oxygen Concentrators?

 The major drivers driving the demand for Oxygen Concentrators are the outbreak of the COVID-19 pandemic, increasing prevalence of respiratory disorders, technological advancements, rising geriatric population susceptibility to chronic diseases, and rise in air pollution due to tobacco smoking.

4. What are the key players operating in Global Oxygen Concentrators?

 Some of the key market players operating in the Oxygen Concentrators market include Koninklijke Philips N.V., O2 CONCEPTS®, LLC, Invacare Corporation, Chart Industries, Inc. (AirSep) DeVilbiss Healthcare LLC, Inogen, Inc., Teijin Limited, GCE Group, Oxygen Solutions Inc., Besco Medical Limited, Medtronic PLC, ResMed, Precision Medical, Inc., BPL Medical Technologies Private Limited, CAIRE, Inc. Foshan Keyhub Electronic Industries Co., Ltd., NGK SPARK PLUG CO., LTD., Linde PLC, Longfian Scitech Co. Ltd., Inova Labs Inc. and others.

5. Which regions has the highest share in the Oxygen Concentrators market?

North America is expected to dominate the overall Oxygen Concentrators market during the forecast period, 2021 to 2026. This domination is due to the rising prevalence of respiratory disease and the current outbreak of COVID-19 pandemic.

Please Note: It will take 7-10 business days to complete the report upon order confirmation.