Portable Oxygen Concentrator Market

Industry Insights-

• The Global Portable Oxygen Concentrator Market was valued at USD 1.69 Billion in 2021
• It is anticipated to reach USD 2.93 Billion by 2028
• A CAGR of 9.6% is anticipated over the forecast period

Overview-

Portable oxygen concentrators is used to provide oxygen therapy to the patients. the oxygen provided by portable oxygen concentrators has higher amount of concentration than ambient air. Furthermore, Portable oxygen concentrators have been used worldwide on a large scale. The previous versions of the portable oxygen concentrators were bulky and costly which makes them difficult to use and also considered as unreliable. Over the past few years, portable oxygen concentrators have been developed because manufacturers are improving the design and also by manufacturing the oxygen concentrator with a comparatively smaller size & higher mobility. the next generation of portable oxygen concentrators is lightweight and can be easily carried which makes the life of an individual easy and hassle free.

Covid-19 Impact-

Many lives across the world were suffering due to Coronavirus and especially those who need time-to-time healthcare. Furthermore, this market is anticipated to see significant growth because of COVID-19 as well as rising prevalence of respiratory disorders all around the world. Furthermore, these products are light in weight and easy to carry along with rising demand for oxygen concentrator in these COVID times are also expected to play the major role in market growth. Furthermore, the supply of oxygen cylinders and concentrators has extremely improved thus and the same is reflecting on the development of the portable oxygen cylinders market. During the pandemic, the manufacturers of oxygen cylinders have established support and encouragement from the governments to produce these products, and even the U.S. FDA has prolonged their support.

Key Players-

Some of the key players for global Portable Oxygen Concentrator Market are-

• Invacare Corporation
• Koninklijke Philips N.V
• Inogen Inc.
• Drive DeVilbiss Healthcare
• Nidek Medical
• GCE Group
• O2 CONCEPTS LLC
• Caire Inc.
• Precision Medical
• Chart Industries
• Others

Segmentation Analysis-

By Delivery System

• Continuous Flow
• Pulse Flow

The portable oxygen concentrator market is being driven by the dominance of continuous flow technology. This is due to the fact that this technology is more accessible than others, is rapidly advancing, and is being adopted by a greater number of people with long-term respiratory issues. Furthermore, continuous flow oxygen concentrators are ideal for those who are physically inactive, require more than 5 LPM of oxygen, or primarily breathe through the mouth. Additionally, they can be used with CPAP or BiPAP machines which are becoming increasingly popular among those suffering from obstructive sleep apnea, thus further contributing to the growth of this segment.

The pulse flow segment is expected to experience a significant growth rate over the forecast period due to its advantages, such as being lightweight, highly mobile, and suitable for patients with active lifestyles. These concentrators are ideal for treating respiratory conditions requiring low liters of oxygen delivered per minute. This is expected to drive the segment's growth over the forecast period, particularly due to the increasing use of portable medical oxygen concentrators.

By Application

• COPD
• Asthma
• Respiratory Distress Syndrome
• Others

By End User

• Hospitals
• Homecare Settings
• Others

The increasing awareness of the importance of homecare and the numerous benefits it offers, such as convenience and reduced cost, has fueled the growth of the homecare market. This is further supported by the availability of insurance packages that cover homecare treatments, which has made them more cost-effective. Additionally, technological advancements have allowed for more efficient monitoring, diagnosis, and treatment of COPD patients.

In conclusion, the homecare market has grown significantly due to the increased number of COPD patients, the availability of efficient oxygen concentrators, rising awareness of the importance of homecare, and the availability of insurance coverage and technological advancements.

By Region:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

North America is expected to dominate the portable oxygen concentrator market in terms of market share. The prevalence rate of respiratory disorders is high in North American countries. According to the Centers for Disease Control and Prevention, 1 in every 13 people have asthma in the US and this occurrence translates to more than 25 million US population. Also 8.1% of Canadians aged 12 and older, nearly 2.3 million people, has stated that they had been diagnosed with asthma, as per Statistics Canada. Due to which there is surge in demand for portable oxygen concentrators for therapies.

Moreover, presence of developed healthcare infrastructure and facilities along with high disposable income also fuel the market growth. On the other hand, presence of major market players as well as favorable reimbursement polices is also expected to contribute the market growth. Europe is expected to be the second largest market owing to the increasing prevalence rate of respiratory disorders as well as presence of advanced treatment options. All the above-mentioned factors are expected augment the market growth.

Market Drivers-

Rising prevalence of respiratory disorders along with growing awareness regarding advanced treatment methods

The portable oxygen concentrator market is driven by the rising prevalence of chronic obstructive pulmonary diseases and increasing implementation of new technologies as well as changing consumers lifestyle. Additionally, rising government expenditure on healthcare facilities followed by the increasing investments by major manufacturing companies are some of the factors contribute the growth of the portable oxygen concentrators market over the forecast period. On the other hand, new technological advancements in the portable oxygen concentrators is expected to create ample opportunities that will lead to the growth of the portable oxygen concentrators market.

Market Opportunities-

Rise in COPD cases and proliferation of new products on the market to create opportunities

This rise in demand will be driven by the increasing affordability of these devices due to technological advancements, as well as rising incomes in developing countries. As medical technology continues to advance and incomes rise, more people in developing countries will be able to access these devices, resulting in increased adoption. This increased adoption will lead to new opportunities for the portable oxygen concentrators market, as more people will be able to access the devices they need to manage their COPD. Consequently, the market is expected to grow significantly in the coming years.

Additionally, growing investment in the production of continuous flow portable oxygen concentrators and pulse flow portable oxygen concentrators will accelerate market growth during the projected period.

Recent Developments-

• November 2019, CAIRE Inc. has launched a new Freestyle Comfort portable oxygen concentrator and it is also equipped with autoSAT technology. Furthermore, the device meets FAA guidelines for use on commercial air flights and offers wireless connectivity to CAIRE’s telehealth solution.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 1.69 Billion
Base year considered	2020
Forecast Period CAGR %:	9.6%
Market Size Expected in 2028:	USD 2.93 Billion
Tables, Charts & Figures:	175
Pages	300
Companies	Invacare Corporation, Koninklijke Philips N.V, Inogen Inc., Drive DeVilbiss Healthcare, Nidek Medical, GCE Group, O2 CONCEPTS LLC, Caire Inc., Precision Medical , Chart Industries others.
Segments Covered	By Delivery System, By Application, By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa