Global Portable Oxygen Concentrators Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Portable Oxygen Concentrators Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Portable Oxygen Concentrators refers to a device that produces oxygen through some technologies to provide oxygen to users. Such as molecular sieve, electrolytic oxygen production, polymer oxygen permeable membrane oxygen production, chemical oxygen production and other methods. The main advantage of Portable Oxygen Concentrators is that no oxygen storage equipment and fixed oxygen source are needed. For example, when continuous oxygen supply is required, the cost is lower, which is more convenient for people who continue to inhale oxygen.

Market Overview:

The latest research study on the global Portable Oxygen Concentrators market finds that the global Portable Oxygen Concentrators market reached a value of USD 1205.89 million in 2022. It’s expected that the market will achieve USD 2216.03 million by 2028, exhibiting a CAGR of 10.67% during the forecast period.

The pandemic of the COVID-19 virus

For the Portable Oxygen Concentrators industry, the pandemic of the COVID-19 virus provides opportunities for the development of the industry. Because COVID-19 is a respiratory virus, people with respiratory diseases such as asthma, chronic obstructive pulmonary disease, emphysema, and bronchitis are extremely susceptible to infection. The virus can trigger asthma attacks and escalate chronic lung diseases into more serious diseases, such as pneumonia. At this time, Portable Oxygen Concentrators are very helpful to provide patients with supplemental oxygen or relieve breathing difficulties, thereby speeding up the body's healing process. Patients with asthma, chronic obstructive pulmonary disease (COPD) and other lung diseases need these devices to maintain adequate oxygen levels. At the same time, as the coronavirus disease (COVID-19) pandemic continues to spread globally, the demand for POC in medical centers has increased significantly. For example, in India, with the surge of COVID cases, the demand for oxygen has increased, and several hospitals have tested the situation of insufficient supply. Therefore, the Indian government purchased 100,000 portable oxygen generators from PM Cares Fund in April 2021. Mainly dedicated to improving the oxygen supply of regional headquarters and second-tier cities. It can be seen that the pandemic of the epidemic provides opportunities for the development of the industry.

Strict supervision procedures

For the Portable Oxygen Concentrators industry, its strict regulatory procedures have brought challenges to the development of the market. Such as a certification regarding the use of Portable Oxygen Concentrators on aircraft. Some airlines only accept the list of POC equipment certified by the US FAA. FAA has conducted electronic equipment interference testing and authorization for some products of specific manufacturers, marked on these POC products, provided a certification list, and indicated in red font. These product-related regulatory measures have brought challenges to manufacturers to a certain extent.

Risks of new product development

For the Portable Oxygen Concentrators industry, its industry is technology-intensive and knowledge-intensive. For manufacturers, their core competitiveness is reflected in the innovation of Portable Oxygen Concentrators products. At the same time, with the improvement of technology and people's living standards, patients and doctors have put forward higher requirements for product quality. Therefore, manufacturers must maintain a strong ability to continuously develop new products. However, the development of new products and processes is restricted by various objective conditions, and there is a risk of development failure. If new products cannot be developed according to the plan, the company's market expansion plan and its competitive advantage in the industry will be affected.
In addition, for the Portable Oxygen Concentrators industry, the products have to undergo a series of audits and tests after they are developed. Such as testing for product safety. The time for these tests has also become a cost to the enterprise. Therefore, there are risks in the research and development of new products within the industry.

Region Overview:

North America dominated the Portable Oxygen Concentrators market in 2022, with a market share of 41.16%.

Company Overview:

Philips is one of the major players operating in the Portable Oxygen Concentrators market, holding a share of 20.33% in 2023.

Philips

Philips regards healthcare as an interconnected whole. Help people live healthy lives and prevent diseases. Provide clinicians with the tools needed for accurate diagnosis and personalized treatment. Help patients recover at home in the community. All of these are supported by seamless data flow.

Inogen

Inogen provides innovative and effective respiratory products for use in home care environments to improve the health, well-being and independence of patients. Inogen is committed to understanding and meeting customer needs, providing reliable and high-quality products, maintaining an effective quality system and maintaining compliance.

Segmentation Overview:

By type, Molecular Sieve Oxygen Concentrator segment accounted for the largest share of market in 2022.

Molecular Sieve Oxygen Concentrator

Molecular Sieve Oxygen Concentrator mainly refers to the use of gas separation technology (PSA method) to produce oxygen. Molecular Sieve Oxygen Concentrator is an oxygen generator. It inhales air and sends it to molecular sieve 13x desiccant and other beds to help concentrate the oxygen in the room to provide a level of therapeutic delivery to the patient.

Macromolecule Oxygen Permeable Membrane Oxygen Concentrator

Oxygen production by oxygen-enriched membrane uses the characteristic of polymer oxygen-enriched membrane to allow oxygen molecules in the air to pass preferentially to collect high-concentration oxygen and deliver it to users. The molecular membrane layer is made of a polymer material, and oxygen and nitrogen in the air pass through the polymer membrane layer at different rates, so as to realize the separation of nitrogen and oxygen.

Electrolysis Oxygen Concentrator

Electrolysis Oxygen Concentrator mainly refers to the preparation of oxygen by the method of electrolysis oxygen.

Chemical Oxygen Concentrator

Chemical Oxygen Concentrator mainly refers to the use of reasonable pharmaceutical formulations to produce oxygen under specific conditions. This kind of oxygen generator can indeed meet the urgent needs of some consumers, but the operation is troublesome, the use cost is high, and it cannot be used continuously, so it is not suitable for home oxygen therapy.

Application Overview:

By application, the Household segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Portable Oxygen Concentrators market covered in Chapter 3:

Drive DeVilbiss Healthcare, Inc
Inogen
Philips
GCE Group
Resmed
CAIRE Inc.
Invacare
Precision Medical
Jiangsu Yuyue Mdcl Eqpmnt & Spply Co Ltd
Omron
Teijin

In Chapter 4 and Chapter 14.2, on the basis of types, the Portable Oxygen Concentrators market from 2018 to 2029 is primarily split into:

Molecular Sieve Oxygen Concentrator
Macromolecule Oxygen Permeable Membrane Oxygen Concentrator
Electrolysis Oxygen Concentrator
Chemical Oxygen Concentrator
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Portable Oxygen Concentrators market from 2018 to 2029 covers:

Traveling
Household
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)