The global oxygen concentrators market was valued at ~$3,200 million in 2020. The global oxygen concentrators market is forecast to grow at a CAGR of 5.85% during the forecast period from 2021-2027.
Clinical and diagnostic uses for oxygen concentrators are common among medical care workers. Oxygen concentrators and compressed oxygen gas cylinders, for example, are significant medical oxygen gas systems that are largely used in homecare settings. These systems are typically used by elderly patients with mobility challenges and a need for a steady oxygen supply.
In certain chronic medical conditions such as chronic obstructive pulmonary disease (COPD), emphysema, and chronic bronchitis caused by smoking, additional oxygen is usually necessary to maintain adequate oxygen levels. There are also many types of oxygen systems available that deliver controlled amounts of oxygen to patients. In addition, medical oxygen gas is high-purity oxygen used to help cure disease in humans.
Factors Affecting the Global Oxygen Concentrators Market
- A growing number of people are being exposed to environmental pollution on a daily basis.
- The increase in the number of people who are susceptible to indoor air pollution, and a rise in smokers, have also contributed to the growth of this industry.
- Oxygen concentrators are expensive and regulated in a way that is preventing their growth.
- Growth opportunities exist for the oxygen concentrator market from emerging markets and growing geriatric populations in the forecast period.
Covid-19 Impact on the Global Oxygen Concentrators Market
Covid-19 prevalence is increasing worldwide, along with the prevalence of chronic diseases. During the Covid-19 pandemic, governments worldwide prioritized optimal use of the medical infrastructure. Additionally, both import and domestic manufacture of medical oxygen gas should be closely monitored to ensure uninterrupted supply to designated Covid-19 hospitals identified by the local administration.
Regional Analysis of the Global Oxygen Concentrators Market
U.S. Centers for Disease Control and Prevention estimate that an analysis of severe respiratory illnesses, such as Covid-19, in the U.S. would result in the need for more than seven billion respirators. This need can be met by medical devices, including oxygen cylinders. It is the major contributor to the growth of the North American market for oxygen concentrators.
Due to the rising prevalence of chronic diseases, infectious diseases, and heart disease, Asia-Pacific is projected to have the highest CAGR during the forecast period. In addition, an increase in the number of hospitals equipped with advanced medical facilities contributes to the region's strong growth.
Key Players in the Global Oxygen Concentrators Market
The major competitors in the global oxygen concentrators market include:
- Inogen, Inc.
- Invacare Corporation
- DeVilbiss Healthcare LLC
- Chart Industries, Inc. (AirSep)
- Supera Anesthesia Innovations
- Nidek Medical
- Koninklijke Philips N.V.
- O2 Concepts
- Teijin Limited
- GCE Group
- Other Prominent Players
Aim of the Report: The Global Oxygen Concentrators Market
The global oxygen concentrators market is segmented by End-User, Technology, Product, and Region.
Segmentation based on End-User
- Home Healthcare
- Ambulatory Surgical Centers & Physician Offices
Segmentation based on Technology
- Pulse Flow
- Continuous Flow
Segmentation based on Product
Segmentation based on Region
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America