Homecare Oxygen Concentrators Market Forecasts to 2030 – Global Analysis By Product (Portable Home Oxygen Concentrators, Stationary Home Oxygen Concentrators, Compressed Gas Oxygen Cylinders, Liquid Oxygen and Other Products), Marketing Type, Technology,

Homecare Oxygen Concentrators Market Forecasts to 2030 – Global Analysis By Product (Portable Home Oxygen Concentrators, Stationary Home Oxygen Concentrators, Compressed Gas Oxygen Cylinders, Liquid Oxygen and Other Products), Marketing Type, Technology, End User and By Geography

According to Stratistics MRC, the Global Homecare Oxygen Concentrators Market is accounted for $1.8 billion in 2023 and is expected to reach $3.1 billion by 2030 growing at a CAGR of 8% during the forecast period. The Homecare Oxygen Concentrators market refers to the industry that provides portable and stationary devices designed to deliver concentrated oxygen to individuals with respiratory conditions in the comfort of their homes. Major industry players provide a variety of products with different features and flow rates to meet the needs of different types of patients.

According to the World Health Organization, nearly 3.23 million deaths were caused due to the Chronic Obstructive Pulmonary Disease (COPD), globally, in 2019.

Market Dynamics:

Driver:

Growing aging population globally

As the elderly population increases, there is a rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and other respiratory conditions that necessitate oxygen therapy. For those in need of extra oxygen, homecare oxygen concentrators provide a practical and efficient solution that enables them to manage their conditions from the comfort of their own homes. Additionally, the demand for home healthcare solutions is increasing due to this demographic trend.

Restraint:

High cost associated with the devices

Homecare oxygen concentrators can be expensive for consumers, limiting accessibility for individuals with lower financial means. Further impeding widespread adoption could be reimbursement challenges from health insurance companies. The expense of these necessary medical devices for long-term use at home prevents some patients from affording them, which hinders market growth. Therefore, overcoming this barrier and guaranteeing greater access to homecare oxygen concentrators requires addressing affordability issues and improving reimbursement policies.

Opportunity:

Respiratory disorders of aging population

As more elderly individuals prefer to age in place, the demand for convenient and reliable home oxygen therapy solutions has surged. In place of bulky oxygen tanks, homecare oxygen concentrators provide a lightweight, convenient substitute that preserves patients' freedom and mobility. Manufacturers can benefit from technological advancements by creating devices that are noise-free, energy-efficient, and lightweight, which will help meet the growing demand for efficient home respiratory care. The growing emphasis on healthcare decentralization and cost-effective solutions worldwide is driving this market's expansion.

Threat:

Emergence of alternative technologies

Conventional home oxygen concentrators face competition from emerging wearable and portable oxygen delivery technologies, as well as possible cost- and convenience-saving alternatives. The healthcare industry's reimbursement problems and regulatory changes could also affect the market's expansion. The need for homecare oxygen concentrators may be impacted by the move toward telehealth services and remote patient monitoring. To reduce the risk posed by emerging market threats, manufacturers in this industry must remain flexible in their adaptation to evolving technologies.

Covid-19 Impact

The need for oxygen therapy supplies, such as home oxygen concentrators, has increased due to the virus's surge in respiratory complications. The market has expanded as a result of the rising demand, with more people choosing home-based solutions for long-term oxygen therapy. To meet this demand, manufacturers have seen a spike in production, and innovations in portable and user-friendly designs are receiving more attention. Furthermore, the pandemic has expedited the uptake of telehealth services, impacting the homecare oxygen concentrator market by encouraging remote respiratory condition monitoring and management.

The portable home oxygen concentrator segment is expected to be the largest during the forecast period

Because of its benefits of portability and convenience, the portable home oxygen concentrator market within the homecare oxygen concentrator market has experienced significant growth. Patients with respiratory disorders like portable oxygen therapy units because they enable them to continue living an active lifestyle while receiving vital oxygen treatment. In addition, a greater knowledge of the advantages of home oxygen therapy have fueled demand for portable solutions and expanded the market.

The pulse flow segment is expected to have the highest CAGR during the forecast period

The pulse flow segment in the Homecare Oxygen Concentrators market has experienced substantial growth due to its enhanced efficiency and portability. By delivering oxygen only when the user inhales, pulse flow devices maximize oxygen consumption and prolong concentrator life. Because of this feature, they are more economical and energy-efficient for patients with sporadic oxygen needs. Pulse flow concentrators' growing market share in the homecare oxygen concentrators sector is largely due to the growing trend toward at-home healthcare solutions.

Region with largest share:

The Asia-Pacific (APAC) homecare oxygen concentrator market has grown rapidly due to factors like an aging population, a rise in respiratory disorders, and increased consumer awareness of at-home healthcare options. The market has grown as a result of improvements in portable oxygen concentrators and technological breakthroughs. In addition, the ongoing COVID-19 pandemic has increased the need for respiratory care supplies, which is driving the APAC market. Partnerships between major healthcare providers and industry players have also helped these devices gain traction in the market.

Region with highest CAGR:

A growing emphasis on home-based healthcare, an aging population, and the rising prevalence of respiratory disorders have all contributed to Europe's Homecare Oxygen Concentrators market's lucrative growth. The need for homecare oxygen concentrators has increased as a result of the COVID-19 pandemic's emphasis on the significance of respiratory care. The healthcare infrastructure that supports homecare services and favorable reimbursement policies have also contributed to the market's strong growth.

Key players in the market

Some of the key players in Homecare Oxygen Concentrators market include Air Water Inc, AVIC Jianghang, Beijing North Star, Besco Medical Co., BOC Healthcare (The Linde Group), Chart Industries Inc , Drive DeVibiss Healthcare Inc, Foshan Kaiya, GCE Group, Inogen Inc, Inova Labs Inc. (ResMed), Invacare, Koninklijke Philips N.V., Longfian Scitech Co, NIDEK Medical Products, Inc, O2 Concepts , Philips Respironics, Precision Medical Inc , Teijin and Yuwell (iangsu Yuyue Medical Equipment and Supply Co., Ltd.)

Key Developments:

In August 2023, Chart Industries, Inc, a leading global engineering design firm, announced that it has executed a Memorandum of Understanding (“MOU”) with 8 Rivers Capital, LLC, to evaluate 8 Rivers’ portfolio of proprietary licensable technologies and processes and identify where Chart’s technologies and systems can complement or bring added value to the 8 Rivers offerings. This collaboration includes developing equipment for 8 Rivers technologies backed up by Chart’s decades of experience in the design and manufacture of cryogenic, compression and process technologies, to assist 8 Rivers in delivering a reliable and cost-effective solution to their customers.

In July 2023, Inogen has signed a definitive agreement for the acquisition of France-based company Physio-Assist in a deal valued at nearly $45m, to bolster its respiratory product portfolio. As per the deal, Physio-Assist is entitled to receive nearly $32m in cash from Inogen at closing, as well as payments on meeting milestones linked to clearance from the Food and Drug Administration for the device.

Products Covered:
• Portable Home Oxygen Concentrators
• Stationary Home Oxygen Concentrators
• Compressed Gas Oxygen Cylinders
• Liquid Oxygen
• Other Products



Marketing Types Covered:
• Direct Marketing
• Distribution Marketing
• Rental Marketing
• Other Marketing Types

Technologies Covered:
• Continuous Flow
• Pulse Flow
• Other Technologies

End Users Covered:
• Home Care
• Hospitals & ICU
• Research Centres for COPD patients
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:

- Market share assessments for the regional and country-level segments

- Strategic recommendations for the new entrants

- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030

- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements