Homecare Oxygen Concentrators Market - By Product (Portable Oxygen Concentrators, Fixed Oxygen Concentrators), By Technology (Continuous Flow, Pulse Flow) & Forecast, 2022-2028

Industry Overview

Homecare Oxygen Concentrators Market size exceeded USD 1.3 billion in 2021 and is anticipated to grow at a 7.3% CAGR from 2022 to 2028. Rising government initiatives in developed and developing economies is expected to influence the market growth potential. For instance, the Department of Health in UAE launched chronic respiratory disease awareness program to enhance early detection rate, disease management and provide quality treatment for respiratory diseases across the country. Such awareness programs provide knowledge about advanced therapies and equipment that are being used in the disease treatment.
 

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Moreover, user friendly nature and convenience associated with the use of advanced oxygen concentrators in personal use will propel the market statistics. Increasing healthcare spending, improving accessibility of homecare oxygen concentrators in developing countries and favourable policies will further proliferate the industry growth potential.
 

The COVID-19 outbreak has positively impacted the homecare oxygen concentrators industry in 2020. During the pandemic, these oxygen concentrators were increasingly used to supply additional oxygen to patients accessing treatment at home or suffering from COVID-19 associated respiratory conditions. Further, introduction of effective treatment and preventive vaccines led to declined infection rate across the globe. This has lowered the demand for homecare oxygen concentrators in 2021 compared to 2020. However, the market will continue to foresee momentous growth during the forecast period with increasing prevalence of several other respiratory diseases.
 

Homecare oxygen concentrators are medical devices designed for delivering supplementary oxygen to patients with breathing complications outside the healthcare facilities. Homecare oxygen concentrators filters surrounding air and compress it to the required density to deliver purified oxygen for medical purpose. These are used in the treatment of numerous respiratory diseases including emphysema, asthma, bronchitis, intense pneumonia, COPD and lung malignancy among others requiring oxygen therapy.
 

Growing prevalence of chronic respiratory diseases will boost the demand for homecare oxygen concentrators in near future

Homecare oxygen concentrators market growth is further driven by the increasing prevalence of chronic respiratory diseases, especially, in developed countries. Increasing prevalence rate is owing to several risk factors such as sedentary lifestyle, smoking habits and environmental exposure among others. The chronic obstructive pulmonary disease (COPD) and asthma are among the leading respiratory diseases across the world. For instance, as per the World Health Organization, nearly 3.23 million deaths were caused due to the COPD, globally, in 2019. Thus, increasing need for additional oxygen supply in COPD treatment will augment the market statistics.
 

Furthermore, booming elderly population base highly prone to numerous chronic respiratory diseases across the developed regions will positively impact the demand for homecare oxygen concentrators in the future. All these factors are expected to positively impact the homecare oxygen concentrators demand during the forecast timeframe.
 

Increasing rate of product launches with growing adoption of portable homecare oxygen concentrators will foster the market outlook

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Homecare oxygen concentrators market based on product is classified into portable oxygen concentrators and fixed oxygen concentrators. Portable homecare oxygen concentrators segment was valued at more than USD 600 million revenue in 2021. The segment growth is highly attributable to its mobile nature, user friendly operations and enhanced efficiency. Additionally, increasing launches of portable concentrators due to inclination towards mobile devices among patients will positively impact the segment revenue growth. Thus, expanding availability of portable home oxygen concentrators in the market such as Ever Flo by Philips, Nuvo lite and Nuvo 10 by NIDEK will strengthen the market forecasts.
 

Growing adoption of continuous flow homecare oxygen concentrators in long-term treatment will accelerate the market statistics

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Homecare oxygen concentrators market based on technology is classified into continuous flow and pulse flow. Continuous flow segment is estimated to witness 7.1% CAGR during forecast timeframe. Continuous flow oxygen concentrators allow uninterrupted supply of oxygen at same rate to the patient. Thereby, increasing requirement of continuous flow among patients with COPD or other severe respiratory conditions will stimulate the segment demand. Additionally, several manufacturers of continuous flow homecare oxygen concentrators are adopting advanced technologies to develop new innovative products that will further contribute to the revenue growth.
 

Product launches by leading players to cater high disease incidence rate in North America will accelerate the regional market share

North America homecare oxygen concentrators market captured nearly 42% business share in 2021 and is poised to grow enormously over the analysis timeframe. The substantial growth is primarily attributable to the high prevalence rate of COPD and other respiratory diseases in the region. For instance, as per the American Lung Association, in 2018, around 16.4 million people were reported with one of the types of COPD. Furthermore, smoking, increased tobacco consumption, and environmental changes are contributing to the growing incidence of respiratory diseases. The presence of leading market players offering advanced products to cater increasing burden will propel the regional market expansion.
 

Product development and acquisitions by prominent market players will offer competitive edge over other operational companies

Some of the notable market players operating in the homecare oxygen concentrators market include Precision Medical, Inc, Besco Medical Co, Air Water Inc, Yuwell (iangsu Yuyue Medical Equipment and Supply Co., Ltd.), Longfian Scitech Co, BOC Healthcare (The Linde Group), Chart Industries, Drive DeVibiss Healthcare Inc, Innogen Inc, Inova Labs Inc. (ResMed), NIDEK Medical Products, Inc., O2 Concepts and Koninklijke Philips N.V., among others. These market players are adopting numerous growth strategies such as collaboration, acquisition & merger, partnership, and product launches to sustain market competition in homecare oxygen concentrators.
 

Some of the recent industry developments:

• In May 2021, OxyGo LLC announced the acquisition of LIFE Corporation, a medical device company involved in manufacturing of portable emergency oxygen and CPR administration equipment. This acquisition enhanced development capabilities of the firm and offered business development opportunities in the market.
   
• In October 2018, NGK SPARK PLUG CO., LTD. announced the acquisition of oxygen related product business of CAIRE Inc. in the U.S., Chart BioMedical (Chengdu) Co., Ltd. in China and Chart BioMedical Limited in the UK to expand their business in portable oxygen concentrators market. This has strengthened the company’s product portfolio in the market.
   

The homecare oxygen concentrators market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028, for the following segments:

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By Product

• Portable oxygen concentrators
• Fixed oxygen concentrators

By Technology

• Continuous flow
• Pulse flow

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Others
• Latin America
  • Brazil
  • Others
• Middle East & Africa
  • South Africa
  • Others