Oxygen Concentrators Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMD2891 | Last Updated On: Sep 23 2022 | Available Formats

>Oxygen Concentrators Market Expected to reach a high CAGR 5.3% during the forecast period 2022-2029:

Oxygen Concentrators Market is segmented By Product Type (Portable Oxygen Concentrators, Stationary Oxygen Concentrators, Others), By Technology (Pulse Flow, Continuous Flow), By End-User (Hospitals, Ambulatory Surgical Centers, Home Care Settings, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Oxygen Concentrators Market is expected to grow at a high CAGR of 5.3% during the forecasting period (2022-2029).

An oxygen concentrator is a device that concentrates the oxygen from a gas supply by selectively removing nitrogen to supply an oxygen-enriched product gas stream. Medical oxygen concentrators are mainly in hospitals or at home to produce oxygen for patients. The high demand for oxygen concentrators in the healthcare sector is due to infections and chronic diseases affecting individuals' respiratory health. With the recent COVID-19 outbreak globally, the demand for medical oxygen concentrators has increased exponentially. Adopting medical oxygen concentrators will be high, especially in hospitals, to manage respiration among critical patients.

Oxygen Concentrators Market Dynamics

The rising prevalence of asthma and COPD is one of the key factors driving the oxygen concentrators market, as these patients require purified oxygen. COPD is the most common disease in the elderly population. It is a progressive illness that takes several years to develop. Most people are at least 40 years old when symptoms of COPD first appear. It’s not impossible to develop COPD as a young adult, but it is rare. According to the Brazil Statistical Institute in 2017, in Brazil, people aged 65 and above are expected to reach 36% by 2050. A major percentage of asthma and COPD patients are of the geriatric population. According to the National Health Survey in 2018, asthma affected more than 6 million adults in Brazil.

Besides, an increasing number of ICU cases is fueling the South American oxygen concentrators market. In critical care, monitoring is essential to ICU patients' daily care; the decisive endpoint is the supply of oxygen to tissues according to their metabolic needs to fuel mitochondrial respiration, therefore enhanced and purified oxygen supply is required in the intensive care unit. According to the Brazilian Critical Care Society, in 2016, there were approximately 36,000 ICU beds in Brazil, which is one of the largest ICU beds in the world per population. These icus require oxygen concentrators to deliver purified oxygen. There were 25 ICU beds per 100,000 inhabitants 7.6 public ICU beds per 100,000 inhabitants.

However, the high cost of devices is hampering the South American medical oxygen concentrators market's growth. The main cause of this extremely high cost is that current testing methods of evaluating medical oxygen concentrators are extremely time-consuming and expensive. Many patients must be tested over a long time. In bigger stationary oxygen concentrators, these concentrators' initial setup is high, which restrains the end-users from upgrading to the latest models. For instance, an Oxygen portable ultralight medical oxygen cylinder is priced at $ 129, whereas the basic oxygen concentrator is priced at $435. The maintenance and insurance of these devices are hampering the demand of oxygen concentrators market

Oxygen Concentrators Market

Metrics

Details

Market CAGR

5.3%

Segments Covered

By Product Type, By Technology, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Oxygen Concentrators Market Dynamics Geographical Analysis

North American oxygen concentrators market accounted for the largest market share in 2019 due to growing spending and disposable income of the U.S. population, increasing geriatric population pool, and changing lifestyle. Besides, the occurrence of COVID-19 has affected more than 4 million people in the country. The number of cases is increasing at a substantial rate, thereby impacting the country's supply of medical oxygen concentrators.

As per the Centers for Disease Control and Prevention, approximately 16 million Americans experience breathing issues due to chronic obstructive pulmonary disorder (COPD). Furthermore, about a million people remain undiagnosed in the region. With the growing need for better diagnosis and respiration management in COPD-affected populations, the market will showcase momentous growth.

Brazil and Argentina are the two largest markets for Oxygen Concentrators in the SouthAmerica region. Relatively advanced healthcare infrastructure, healthcare spending, and high population density in Brazil compared to other South American countries is the primary factor for the dominant share of the region's respiratory equipment market. The market for respiratory equipment is untapped in many South American countries due to low healthcare access and low disease awareness. For instance, Argentina represents a potential market for respiratory equipment which more than 300,000 health professionals and 5000+ hospitals in the country.

Oxygen Concentrators Market Dynamics Competitive Analysis

oxygen concentrators market is dominated by major players including Philips Healthcare, ResMed Inc., Fisher & Paykel Healthcare Corporation Limited, Inogen Inc., Invacare Corporation, Dragerwerk AG & Co. KGaA, TEIJIN LIMITED, DeVilbiss Healthcare LLC, GCE Healthcare, O2 Concepts, LLC, among others.

The key players focus on broadening their product portfolio by partnering with or acquiring smaller companies or launching new products. For instance,

• In March 2019, Invacare launched the new BirdieEVO mobile hoist family.

• In January 2019, ResMed, a leader in respiratory care medical devices and out-of-hospital care software, launched premier portable oxygen concentrator, Mobi, which offers an optimal balance of oxygen delivery, weight, and battery life so that millions of people with chronic obstructive pulmonary disease (COPD) or other chronic diseases can enjoy Res Med-quality oxygen therapy wherever they go.

• In 2019, Inogen, a leading medical device company, recently launched Inogen One G5 portable oxygen concentrator. The Inogen One G5 is much superior to other portable oxygen concentrators because it has the highest oxygen production capacity per pound of weight, amounting to 1260 ml

• In 2018, Caire Inc launched a portable oxygen concentrator, the FreeStyle Comfort. The device weighs only 5 lbs and is designed with a comfort curve to rest against the natural contour of the body

Frequently Asked Questions

What is the Projected CAGR value of the Oxygen Concentrators Market?

Oxygen Concentrators Market is expected to grow at a CAGR of 5.3% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Oxygen Concentrators Market during 2022-2029

Which is the fastest growing region in the Oxygen Concentrators Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

Trending Topics

Portable Ultrasound Market

Cardiac Surgery Devices Market

Colonic Stents Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest