About Home Oxygen Concentrator
A Home Oxygen Concentrator is a device that selectively removes nitrogen from a gas supply (often ambient air) to produce an oxygen-enriched product gas stream. People who require medical oxygen owing to low oxygen levels in their blood can use an oxygen concentrator, which takes in air and eliminates nitrogen, leaving an oxygen-enriched atmosphere. Patients who require supplemental oxygen for respiratory illnesses such as bronchitis, emphysema, lung cancer, or acute pneumonia use oxygen concentrators. Oxygen concentrators can be used to assist the user's oxygen needs at home as well as in clinical settings. The popularity and strong demand for oxygen concentrators are driving market expansion due to their ease of use. As a result, several players in this industry place a premium on implementing considerable adjustments in product design to accommodate patients' daily habits. The growing frequency of respiratory illnesses, rapid expansion in the geriatric population, high prevalence of cigarette smoking, desire for home-based oxygen therapy, and technical improvements are driving the oxygen concentrators market. However, the availability of low-cost competitors from local manufacturers, strict regulatory rules that cause delays in product approvals, and Medicare reimbursement rate cutbacks for home oxygen therapy are all limiting the market's growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 8.07% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Inogen Koninklijke Philips N.V. Caire Linde Plc Daikin Industries, Ltd. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Home Oxygen Concentrator market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Linde plc (United Kingdom), Precision Medical, Inc. (United States), Koninklijke Philips N.V. (Netherlands), Zhejiang Longfei Medical Instrument Co., Ltd (China), Invacare Corporation (United States), Inogen, Inc.(United States), TEIJIN LIMITED (Japan), DeVilbiss Healthcare LLC (United States) and CAIRE Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Jiangsu yuyue Medical Equipment & Supply Co., Ltd (China), Nidek Medical Products, Inc. (United States), DAIKIN INDUSTRIES, Ltd. (Japan), GCE Group (Sweden) and GF HEALTH PRODUCTS, INC. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Oxygen Concentrator market by Type (Portable Oxygen Concentrator and Stationary Oxygen Concentrator), Application (Acute Disease Patients, Chronic Disease Patients, Pregnant Women and Other) and Region.
On the basis of Type, Portable Oxygen Concentrators are dominating the market in the year 2022 where as Stationary Oxygen Concentrators stood as second largest market share.
On the basis of application, Pulse Flow segment is dominating the market in the year 2022 where as Continuous Flow segment stood as second largest market .On the basis of geography, the market of Home Oxygen Concentrator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2022. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Pulse Flow will boost the Home Oxygen Concentrator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online Sales Channel will boost the Home Oxygen Concentrator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Up surging Demand for the Portable System and The Increasing Demand of the Oxygen Concentrators due to COVID 19 Pandemic
Market Growth Drivers:
Increasing Prevalence Of Chronic Pulmonary Disease (COPD) and Increasing Geriatric Population
Challenges:
The Stringent Government Regulations
Restraints:
The Concern Related to the Cost of the Product
Opportunities:
The Increasing Production across the Various Countries and High Demand due to Increasing R & D and Investmnets
Market Leaders and their expansionary development strategies
In October 2021, Invacare Introduces True Control For Portable Oxygen Concentrators. The company refers to the benefits of this new electronics update to the Invacare Platinum Mobile Oxygen Concentrator. From the provider’s ability to control business inefficiencies to the user enjoying the freedom of controlling their unit remotely, this update takes the unique value proposition of the Platinum Mobile Oxygen Concentrator to an even higher level – one of helping users and their providers to control what matters.
In Jan 2021, Philips to expand its leadership in patient care management solutions for the hospital with the acquisition of Capsule Technologies, Inc. Acquisition is a strong fit with Philips’ strategy to transform the delivery of healthcare along the health continuum with integrated solutions. Capsule offers a leading vendor-neutral Medical Device Information Platform with a software-as-a-service business model.
Key Target Audience
Home Oxygen Concentrator Manufacturer, Distributors, Suppliers, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.