Medical Oxygen Concentrators Market Report
RA00605
Medical Oxygen Concentrators Market, by Product (Portable Medical Oxygen Concentrators, Fixed Medical Oxygen Concentrators), Application (Home Care, Non-homecare), Technology (Continuous Flow, Pulse Flow), Distribution Channel (Hospitals, Ambulatory Surgical Centres, Clinics, e-commerce, Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2020-2027
Medical Oxygen Concentrators Overview
The medical oxygen concentrators market is one of the fastest growing areas of the healthcare industry. Medical equipment called oxygen concentrators take oxygen from the air and provide it to patients who need additional oxygen therapy. Patients with respiratory illnesses, such chronic obstructive pulmonary disease (COPD), asthma, and other respiratory ailments, are frequently treated using oxygen concentrators. Healthcare services are increasingly being offered in homecare settings. Medical oxygen concentrators are essential for enabling home-based oxygen therapy because they let patients receive care in the convenience of their own homes. The preference for non-invasive treatment alternatives, cost savings, and patient convenience all contribute to the shift towards homecare.
The market for medical oxygen concentrators is significantly influenced by the increased incidence of respiratory illnesses, especially COPD and asthma. There is a higher need for oxygen treatment products as the incidence of respiratory disorders rises because of factors like air pollution, smoking, and an ageing population.
Global Medical Oxygen Concentrators Market Analysis
The global medical oxygen concentrators market size was $2,557.5 million in 2022 and is predicted to grow with a CAGR of 3.6%, by generating a revenue of $3,616.4 million by 2032.
COVID-19 Impact on Global Medical Oxygen Concentrators Market
Some patients experience severe respiratory symptoms because of the COVID-19 virus, which primarily affects the respiratory system. As a result, there was an increase in demand for medical oxygen concentrators, both for use in hospitals and at home, to help treat COVID-19 patients who were experiencing respiratory distress. Increased demand created oxygen concentrator supply shortages in certain regions, putting strain on the oxygen concentrator market's global supply chain. The rapid spread of the COVID-19 virus resulted in an overwhelming number of patients requiring hospitalization and oxygen therapy. Worldwide healthcare institutions had difficulties in meeting the rising demand for oxygen. Particularly in areas with limited access to centralized oxygen delivery systems or during periods of high demand, medical oxygen concentrators were essential for supplemental oxygen supply.
Growing Aging Population to Drive the Market Growth
The market for medical oxygen concentrators is primarily driven by the increased prevalence of respiratory disorders such chronic obstructive pulmonary disease (COPD), asthma, and pneumonia. The need for oxygen therapy devices, especially concentrators, is increasing as the world's population ages and respiratory illnesses become more common due to environmental causes and other variables. Respiratory problems and other chronic illnesses are more common in the ageing population. Medical oxygen concentrators are increasingly necessary to treat aging-related respiratory illnesses as the population of older people increases globally. Long-term oxygen therapy (LTOT) is frequently necessary for elderly patients, and concentrators provide a practical and affordable option for at-home oxygen therapy.
High Initial Cost of Medical Oxygen Concentrators to Restrain Market Growth
Medical oxygen concentrators can be pricey, especially if they have high flow rates or sophisticated features. Patients without sufficient financial resources or insurance coverage may find it difficult to afford the hefty upfront cost. In low-income areas or among underserved groups, in particular, this may restrict access to oxygen therapy and impede market expansion. A dependable power source is necessary for the efficient operation of medical oxygen concentrators. Keeping the concentrators running continuously can be difficult in areas with erratic electricity availability or frequent power interruptions. Additionally, delivering and maintaining oxygen concentrators may be logistically challenging in rural locations with little healthcare infrastructure, which could impede their adoption.
Increasing Prevalence of Respiratory Diseases to Drive Excellent Opportunities
Respiratory conditions like asthma, sleep apnea, and chronic obstructive pulmonary disease (COPD) are becoming more commonplace on a global scale. There is a persistent need for medical oxygen concentrators since these illnesses frequently necessitate long-term oxygen therapy. The rising number of people with respiratory conditions presents a considerable possibility for market growth. The global population is getting older, and the elderly are more prone to respiratory problems and other chronic illnesses. Medical oxygen concentrators will be more in demand as the older population grows for meeting their oxygen therapy requirements in both healthcare facilities and homecare settings. The market for medical oxygen concentrators has tremendous growth potential in emerging regions, particularly in Asia, Latin America, and Africa. The prevalence of respiratory illnesses is increasing in these areas, and people are becoming more aware of the value of oxygen therapy. The demand for medical oxygen concentrators is anticipated to increase as healthcare facilities and accessibility improve.
Global Medical Oxygen Concentrators Market Share, by Product type, 2022
The fixed sub-segment accounted for the highest share in 2022. Due to several causes, the demand for fixed medical oxygen concentrators has been constantly rising. The need for dependable and effective oxygen concentrators in healthcare facilities and homecare settings is being driven by the ageing population, development of respiratory disorders, and requirement for long-term oxygen therapy. Patients with chronic respiratory disorders include chronic obstructive pulmonary disease (COPD), cystic fibrosis, and pulmonary hypertension frequently get LTOT through fixed medical oxygen concentrators. These devices provide patients who need supplemental oxygen to maintain adequate blood oxygen levels with a constant flow of oxygen. Compared to more conventional oxygen delivery techniques like liquid oxygen or compressed oxygen cylinders, fixed medical oxygen concentrators provide several advantages. They remove the requirement for oxygen cylinder refills or replacements, lowering the logistical difficulties and expenses related to controlling the oxygen supply.
Additionally, without the requirement for periodic reordering or delivery, fixed concentrators offer an ongoing supply of oxygen. The market for fixed medical oxygen concentrators is expanding because of rising healthcare costs, especially in industrialized nations. To satisfy the rising demand for respiratory care services, governments and healthcare organizations are investing in infrastructure development, including the provision of oxygen concentrators.
Global Medical Oxygen Concentrators Market Share, by Technology, 2022
The continuous flow sub-segment accounted for the highest share in 2022. Patients with severe respiratory illnesses, like advanced COPD or respiratory failure, frequently need a constant supply of oxygen to keep their blood adequately oxygenated. Continuous flow concentrators can deliver a steady supply of oxygen to meet the high oxygen demand of these patients. Some patients require a continuous supply of oxygen during physical activities, such as exercise or movement. Continuous flow concentrators enable these individuals to engage in oxygen-dependent activities without interruption. This function allows patients to maintain their mobility and participate in regular activities, enhancing their quality of life.
Global Medical Oxygen Concentrators Market Share, by Application, 2022
The non-homecare sub-segment accounted for the highest market size in 2022. In hospitals and healthcare facilities, medical oxygen concentrators are essential because they are used to provide patients extra oxygen in a variety of settings, such as intensive care units (ICUs), emergency rooms, operating rooms, and respiratory care units. They are used during medical procedures that call for oxygen support, in patients with acute respiratory problems, and during post-operative rehabilitation. Medical oxygen concentrators are frequently used in clinics and ambulatory care facilities to administer oxygen therapy for patients with chronic respiratory disorders including COPD, asthma, or pulmonary fibrosis. These locations may have portable or dedicated oxygen concentrators that can be utilized for patient consultations, diagnostic tests, or small surgical operations.
Global Medical Oxygen Concentrators Market Share, by Region, 2022
The North America medical oxygen concentrators market generated the highest revenue in 2022. Respiratory conditions like asthma, sleep apnea, and chronic obstructive pulmonary disease (COPD) are relatively common in North America. The need for medical oxygen concentrators is fueled by the fact that these illnesses frequently need long-term oxygen therapy. With cutting-edge hospitals, clinics, and other healthcare facilities, North America has a developed healthcare infrastructure. The extensive usage of medical oxygen concentrators across a range of healthcare settings, such as hospitals, clinics, homecare, and long-term care facilities, is made possible by this infrastructure. The market for medical oxygen concentrators is significantly influenced by North America's ageing population. The prevalence of respiratory disorders rises with population ageing, increasing the need for medical oxygen concentrators and oxygen treatment to meet the healthcare requirements of the elderly in this region.
Competitive Scenario in the Global Medical Oxygen Concentrators Market
There are several major players functioning in the highly competitive global medical oxygen concentrators market. To achieve a competitive advantage in the market, key competitors are implementing a variety of strategic initiatives. For instance, Inogen introduced the Inogen One G5 portable oxygen concentrator, in April 2019, for use while travelling or in home care settings.
Some of the leading medical oxygen concentrators market players are Koninklijke Philips N.V., Invacare Corporation, DeVilbiss Healthcare LLC, Inogen, Inc., Chart Industries, Inc. (AirSep), Nidek Medical, O2 Concepts, Teijin Limited, Supera Anesthesia Innovations, and GCE Group.
| Aspect | Particulars |
| Historical Market Estimations | 2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product type |
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| Segmentation by Technology |
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| Segmentation by Application |
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| Key Companies Profiled |
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Q1. What is the size of the medical oxygen concentrators market?
A. The size of the medical oxygen concentrators market was over $2,557.5 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% during the forecast period.
Q2. Which are the major companies in the medical oxygen concentrators market?
A. Chart Industries, Inc. (AirSep) and Supera Anesthesia Innovations are some of the key players in the global medical oxygen concentrators market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The North America region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Strategic acquisitions & partnerships and geographic expansion & market penetration are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more in R&D practices?
A. DeVilbiss Healthcare LLC, Supera Anesthesia Innovations, and Koninklijke Philips N.V. are the companies investing more in R&D activities for developing new products and technologies.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Medical Oxygen Concentrators Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Medical Oxygen Concentrators Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Medical Oxygen Concentrators Market, By End Use
5.1. Overview
5.2 Portable Medical Oxygen Concentrators
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 Fixed Medical Oxygen Concentrators
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Research Dive Exclusive Insights
5.4.1 Market attractiveness
5.4.2 Competition heatmap
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6. Medical Oxygen Concentrators Market, By Technology
6.1. Overview
6.2 Home Care
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Non-homecare
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Research Dive Exclusive Insights
6.4.1 Market attractiveness
6.4.2 Competition heatmap
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7. Medical Oxygen Concentrators Market, By Device Type
7.1. Overview
7.2 Continuous Flow
7.2.1 Definition, key trends, growth factors, and opportunities
7.2.2 Market size analysis, by region, 2020-2027
7.2.3 Market share analysis, by country, 2020-2027
7.3 Pulse Flow
7.3.1 Definition, key trends, growth factors, and opportunities
7.3.2 Market size analysis, by region, 2020-2027
7.3.3 Market share analysis, by country, 2020-2027
7.4 Research Dive Exclusive Insights
7.4.1 Market attractiveness
7.4.2 Competition heatmap
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8. Medical Oxygen Concentrators Market, By Location
8.1. Overview
8.2 Hospitals
8.2.1 Definition, key trends, growth factors, and opportunities
8.2.2 Market size analysis, by region, 2020-2027
8.2.3 Market share analysis, by country, 2020-2027
8.3 Ambulatory Surgical Centres
8.3.1 Definition, key trends, growth factors, and opportunities
8.3.2 Market size analysis, by region, 2020-2027
8.3.3 Market share analysis, by country, 2020-2027
8.4 Clinics
8.4.1 Definition, key trends, growth factors, and opportunities
8.4.2 Market size analysis, by region, 2020-2027
8.4.3 Market share analysis, by country, 2020-2027
8.5 e-commerce
8.5.1 Definition, key trends, growth factors, and opportunities
8.5.2 Market size analysis, by region, 2020-2027
8.5.3 Market share analysis, by country, 2020-2027
8.6 Retail Pharmacies
8.6.1 Definition, key trends, growth factors, and opportunities
8.6.2 Market size analysis, by region, 2020-2027
8.6.3 Market share analysis, by country, 2020-2027
8.7 Research Dive Exclusive Insights
8.7.1 Market attractiveness
8.7.2 Competition heatmap
9. Medical Oxygen Concentrators Market, By Region
9.1 North America
9.1.1 U.S
9.1.1.1 Market size analysis, By End Use, 2020-2027
9.1.1.2 Market size analysis, By Technology, 2020-2027
9.1.1.3 Market size analysis, By Device Type, 2020-2027
9.1.1.4 Market size analysis, By Location, 2020-2027
9.1.2 Canada
9.1.2.1 Market size analysis, By End Use, 2020-2027
9.1.2.2 Market size analysis, By Technology, 2020-2027
9.1.2.3 Market size analysis, By Device Type, 2020-2027
9.1.2.4 Market size analysis, By Location, 2020-2027
9.1.3 Mexico
9.1.3.1 Market size analysis, By End Use, 2020-2027
9.1.3.2 Market size analysis, By Technology, 2020-2027
9.1.3.3 Market size analysis, By Device Type, 2020-2027
9.1.3.4 Market size analysis, By Location, 2020-2027
9.1.4 Research Dive Exclusive Insights
9.1.4.1 Market attractiveness
9.1.4.2 Competition heatmap
9.2 Europe
9.2.1 Germany
9.2.1.1 Market size analysis, By End Use, 2020-2027
9.2.1.2 Market size analysis, By Technology, 2020-2027
9.2.1.3 Market size analysis, By Device Type, 2020-2027
9.2.1.4 Market size analysis, By Location, 2020-2027
9.2.2 UK
9.2.2.1 Market size analysis, By End Use, 2020-2027
9.2.2.2 Market size analysis, By Technology, 2020-2027
9.2.2.3 Market size analysis, By Device Type, 2020-2027
9.2.2.4 Market size analysis, By Location, 2020-2027
9.2.3 France
9.2.3.1 Market size analysis, By End Use, 2020-2027
9.2.3.2 Market size analysis, By Technology, 2020-2027
9.2.3.3 Market size analysis, By Device Type, 2020-2027
9.2.3.4 Market size analysis, By Location, 2020-2027
9.2.4 Spain
9.2.4.1 Market size analysis, By End Use, 2020-2027
9.2.4.2 Market size analysis, By Technology, 2020-2027
9.2.4.3 Market size analysis, By Device Type, 2020-2027
9.2.4.4 Market size analysis, By Location, 2020-2027
9.2.5 Italy
9.2.5.1 Market size analysis, By End Use, 2020-2027
9.2.5.2 Market size analysis, By Technology, 2020-2027
9.2.5.3 Market size analysis, By Device Type, 2020-2027
9.2.5.4 Market size analysis, By Location, 2020-2027
9.2.6 Rest of Europe
9.2.6.1 Market size analysis, By End Use, 2020-2027
9.2.6.2 Market size analysis, By Technology, 2020-2027
9.2.6.3 Market size analysis, By Device Type, 2020-2027
9.2.6.4 Market size analysis, By Location, 2020-2027
9.2.7 Research Dive Exclusive Insights
9.2.7.1 Market attractiveness
9.2.7.2 Competition heatmap
9.3 Asia-Pacific
9.3.1 China
9.3.1.1 Market size analysis, By End Use, 2020-2027
9.3.1.2 Market size analysis, By Technology, 2020-2027
9.3.1.3 Market size analysis, By Device Type, 2020-2027
9.3.1.4 Market size analysis, By Location, 2020-2027
9.3.2 Japan
9.3.2.1 Market size analysis, By End Use, 2020-2027
9.3.2.2 Market size analysis, By Technology, 2020-2027
9.3.2.3 Market size analysis, By Device Type, 2020-2027
9.3.2.4 Market size analysis, By Location, 2020-2027
9.3.3 India
9.3.3.1 Market size analysis, By End Use, 2020-2027
9.3.3.2 Market size analysis, By Technology, 2020-2027
9.3.3.3 Market size analysis, By Device Type, 2020-2027
9.3.3.4 Market size analysis, By Location, 2020-2027
9.3.4 Australia
9.3.4.1 Market size analysis, By End Use, 2020-2027
9.3.4.2 Market size analysis, By Technology, 2020-2027
9.3.4.3 Market size analysis, By Device Type, 2020-2027
9.3.4.4 Market size analysis, By Location, 2020-2027
9.3.5 South Korea
9.3.5.1 Market size analysis, By End Use, 2020-2027
9.3.5.2 Market size analysis, By Technology, 2020-2027
9.3.5.3 Market size analysis, By Device Type, 2020-2027
9.3.5.4 Market size analysis, By Location, 2020-2027
9.3.6 Rest of Asia-Pacific
9.3.6.1 Market size analysis, By End Use, 2020-2027
9.3.6.2 Market size analysis, By Technology, 2020-2027
9.3.6.3 Market size analysis, By Device Type, 2020-2027
9.3.6.4 Market size analysis, By Location, 2020-2027
9.3.7 Research Dive Exclusive Insights
9.3.7.1 Market attractiveness
9.3.7.2 Competition heatmap
9.4 LAMEA
9.4.1 Brazil
9.4.1.1 Market size analysis, By End Use, 2020-2027
9.4.1.2 Market size analysis, By Technology, 2020-2027
9.4.1.3 Market size analysis, By Device Type, 2020-2027
9.4.1.4 Market size analysis, By Location, 2020-2027
9.4.2 Saudi Arabia
9.4.2.1 Market size analysis, By End Use, 2020-2027
9.4.2.2 Market size analysis, By Technology, 2020-2027
9.4.2.3 Market size analysis, By Device Type, 2020-2027
9.4.2.4 Market size analysis, By Location, 2020-2027
9.4.3 UAE
9.4.3.1 Market size analysis, By End Use, 2020-2027
9.4.3.2 Market size analysis, By Technology, 2020-2027
9.4.3.3 Market size analysis, By Device Type, 2020-2027
9.4.3.4 Market size analysis, By Location, 2020-2027
9.4.4 South Africa
9.4.4.1 Market size analysis, By End Use, 2020-2027
9.4.4.2 Market size analysis, By Technology, 2020-2027
9.4.4.3 Market size analysis, By Device Type, 2020-2027
9.4.4.4 Market size analysis, By Location, 2020-2027
9.4.5 Rest of LAMEA
9.4.5.1 Market size analysis, By End Use, 2020-2027
9.4.5.2 Market size analysis, By Technology, 2020-2027
9.4.5.3 Market size analysis, By Device Type, 2020-2027
9.4.5.4 Market size analysis, By Location, 2020-2027
9.4.6 Research Dive Exclusive Insights
9.4.6.1 Market attractiveness
9.4.6.2 Competition heatmap
10. Competitive Landscape
10.1 Top winning strategies, 2020-2027
10.1.1 By strategy
10.1.2 By year
10.2 Strategic overview
10.3 Market share analysis, 2020-2027
11. Company Profiles
11.1 DeVilbiss Healthcare GmbH (Drive DeVilbiss International)
11.1.1 Overview
11.1.2 Business segments
11.1.3 Product portfolio
11.1.4 Financial performance
11.1.5 Recent developments
11.1.6 SWOT analysis
11.2 Inogen Inc.
11.2.1 Overview
11.2.2 Business segments
11.2.3 Product portfolio
11.2.4 Financial performance
11.2.5 Recent developments
11.2.6 SWOT analysis
11.3 Invacare Corporation
11.3.1 Overview
11.3.2 Business segments
11.3.3 Product portfolio
11.3.4 Financial performance
11.3.5 Recent developments
11.3.6 SWOT analysis
11.4 NGK Spark Plug Co. Ltd.
11.4.1 Overview
11.4.2 Business segments
11.4.3 Product portfolio
11.4.4 Financial performance
11.4.5 Recent developments
11.4.6 SWOT analysis
11.5 NIDEK Medical Products Inc.
11.5.1 Overview
11.5.2 Business segments
11.5.3 Product portfolio
11.5.4 Financial performance
11.5.5 Recent developments
11.5.6 SWOT analysis
11.6 O2 Concepts
11.6.1 Overview
11.6.2 Business segments
11.6.3 Product portfolio
11.6.4 Financial performance
11.6.5 Recent developments
11.6.6 SWOT analysis
11.7 Koninklijke Phillips N.V.
11.7.1 Overview
11.7.2 Business segments
11.7.3 Product portfolio
11.7.4 Financial performance
11.7.5 Recent developments
11.7.6 SWOT analysis
11.8 ResMed (Inova Labs)
11.8.1 Overview
11.8.2 Business segments
11.8.3 Product portfolio
11.8.4 Financial performance
11.8.5 Recent developments
11.8.6 SWOT analysis
11.9 Teijin Limited
11.9.1 Overview
11.9.2 Business segments
11.9.3 Product portfolio
11.9.4 Financial performance
11.9.5 Recent developments
11.9.6 SWOT analysis
11.10 Yuwell (Jiangsu
11.10.1 Overview
11.10.2 Business segments
11.10.3 Product portfolio
11.10.4 Financial performance
11.10.5 Recent developments
11.10.6 SWOT analysis
11.11 Yuyue Medical
11.11.1 Overview
11.11.2 Business segments
11.11.3 Product portfolio
11.11.4 Financial performance
11.11.5 Recent developments
11.11.6 SWOT analysis
11.12 Equipment & Supply Co., Ltd.)
11.12.1 Overview
11.12.2 Business segments
11.12.3 Product portfolio
11.12.4 Financial performance
11.12.5 Recent developments
11.12.6 SWOT analysis
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