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Medical Oxygen Concentrators Market Size By Product (Portable Medical Oxygen Concentrators, Fixed Medical Oxygen Concentrators), By Application (Home Care, Non-Homecare), By Technology (Continuous Flow, Pulse Flow), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI449
  • Published Date: Dec 2021
  • Report Format: PDF

Industry trends

Medical Oxygen Concentrators Market size exceeded USD 2.5 billion in 2020 and is expected to grow at a CAGR of over 3.3% between 2021 and 2027.
 

Sudden surge in COVID-19 cases has boosted the demand for medical oxygen concentrators. The COVID-19 is a contagious infection precipitated by severe acute respiratory syndrome. Amid pandemic, the critically ill patients suffering from acute respiratory syndrome accounted for nearly 15-26% of the total cases. Thus, increasing demand for intensive critical care coupled with large patient pool requiring oxygen therapy will accelerate the market growth.
 

Medical Oxygen Concentrators Market Size

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In COVID-19, oxygen therapy was the core of the disease management. It can also support patients for days to weeks and is thereby widely used to treat infectious diseases. Furthermore, numerous key industry players and several government bodies in the world have ramped up their oxygen concentrators manufacturing to meet the patient demand.
 

Government initiatives for procurement of advanced medical oxygen concentrators will stimulate the product demand

Rising government initiatives to regulate and manage respiratory disorders will foster the market expansion. Moreover, favourable reimbursement scenario for medical oxygen concentrators in several developing nations will impel the market value.
 

The COVID-19 pandemic has positively impacted the sales of medical oxygen concentrators. The sudden upsurge in product demand is owing to the large patient base suffering from acute respiratory syndrome.
 

Increasing customer preference for portable devices with several advantages in homecare settings will propel the market progression

Portable medical oxygen concentrators market is anticipated to witness 5.2% growth rate through 2027 led by the compact size, portability, and affordability to the customer. The continuous developments in technologies such as continuous flow and pulse flow in portable oxygen concentrators will positively impact the adoption rate. Further, the patients suffering from several respiratory disorders including pneumonia, COPD and lung cancer are inclining towards portable devices. This will enhance the product demand in home care settings. Moreover, several companies are involved in development of innovative and easy to use portable devices for patients that will strengthen the industry expansion potential.
 

Growing acceptance of advanced medical equipment in hospital settings will influence the overall market revenue

Medical Oxygen Concentrators Market Size

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Non-homecare segment held more than 35% of the market share in 2020 impelled by the rising usage of medical oxygen concentrators for oxygen therapy during critical patient treatment in hospitals. Additionally, increasing preference towards adoption of highly efficient and effective medical equipment in healthcare facilities will showcase considerable growth opportunities to the segment.
 

Incidence of COVID-19 pandemic has further propelled the oxygen concentrators demand in specialty COVID-centers and hospitals as the patients suffering from low oxygen levels. In addition, portable medical oxygen concentrators delivering services through mobile platforms during pandemic has boosted the product demand.
 

Continuous technological advancements in product development will offer lucrative industry growth opportunities

Continuous flow segment crossed USD 1.2 billion in 2020. Owing to increasing prevalence rate of chronic respiratory diseases with rising consumption of tobacco and smoking in several countries will benefit the product demand. The rise in acceptance of continuous flow concentrators for critical care in healthcare facilities will augment the segment growth. Numerous manufacturers are adopting advanced technologies in new product development that will also fuel the segment expansion potential.
 

Rising healthcare expenditure along with increasing burden of respiratory diseases in the North America will spur the market demand

North America Medical Oxygen Concentrators Market

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North America medical oxygen concentrators market captured 40% of revenue share in 2020 on account of the surge in number of baby boomers and high prevalence of COPD. Additionally, high tobacco consumption, smoking, and environmental changes are further contributing to the increasing incidence of respiratory diseases.
 

Key players are focusing on acquisitions and collaborations to strengthen their market footprint

Notable key companies operating in the market are DeVilbiss Healthcare GmbH, Invacare corporation, Inogen Inc., NGK Spark Plug Co. Ltd, NIDEK Medical Products, Inc., Koninklijke Philips N.V., O2 Concepts, Yuwell and Tenjin Limited. These industry leaders are undertaking several growth strategies such as collaboration, partnership, merger and acquisitions to gain competitive edge and broaden their market presence.
 

The market research report of medical oxygen concentrators includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Product

  • Portable medical oxygen concentrators
  • Fixed medical oxygen concentrators

Market, By Application

  • Home care
  • Non-homecare

Market, By Technology

  • Continuous flow
  • Pulse flow

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

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
       
Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

The market size of medical oxygen concentrators was nearly USD 2.5 billion in 2020 and will record a CAGR of more than 3.3% through 2027 due to the alarmingly rising COVID-19 cases and the thriving demand for intensive critical care and oxygen therapy.

Medical oxygen concentrators provide supplementary oxygen for patients affected with chronic obstructive pulmonary disease (COPD) as well as severe chronic hypoxemia and pulmonary edema.

The portable medical oxygen concentrators is set to observe a 5.2% growth rate up to 2027, as they are largely used to tend to various respiratory disorders, like pneumonia, COPD, and lung cancer to offer compact size, portability, and affordability.

The non-homecare application segment was responsible for over 35% of the medical oxygen concentrators market share in 2020 owing to higher adoption for oxygen therapy in critical patient treatment across hospitals.

North America held more than 40% of revenue share in 2020 driven by the expanding elderly population and high prevalence of COPD in the region.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 9
  • Tables & Figures: 163
  • Countries covered: 14
  • Pages: 150

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