Medical Oxygen Concentrators Market Scope
A medical oxygen concentrator refers to the oxygen therapy device which is used for people who require greater oxygen concentrations. Medical oxygen concentrator market has high growth prospects owing to the increasing number of patients with respiratory disorders, growing healthcare infrastructure in the developing economies, and increasing demand for a portable oxygen concentrator. Further, rising applications of an oxygen concentrator for home care and technological advancement expected to drive the demand for medical oxygen concentrator over the forecasted period.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | AirSep Corporation (United States), ResMed (United States), Medtronic (Ireland), Koninklijke Philips N.V (Netherlands), Chart Industries, Inc. (United States), Invacare Corporation (United States), Inogen, Inc. (Unites States), Drive DeVilbiss Healthcare (United States), O2 CONCEPTS LLC. (United States) and Nidek Medical (India) |
CAGR | 8.79% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Medical Oxygen Concentrators market throughout the predicted period.
AirSep Corporation (United States), ResMed (United States), Medtronic (Ireland), Koninklijke Philips N.V (Netherlands), Chart Industries, Inc. (United States), Invacare Corporation (United States), Inogen, Inc. (Unites States), Drive DeVilbiss Healthcare (United States), O2 CONCEPTS LLC. (United States) and Nidek Medical (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are GCE Group (Sweden) and CAIRE Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Medical Oxygen Concentrators market by Type , by Application (Hospitals, Home Care and Ambulatory Surgical Centers) and Region with country level break-up.
On the basis of geography, the market of Medical Oxygen Concentrators 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).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In May 2021, Tech Mahindra Foundation partnered with OxygenForIndia to deploy 3,000 oxygen concentrators and 40,000 oxygen cylinders. This partnership aims to support the creation of oxygen capacity across 15 cities and Tier-II towns.
In October 2022, O2 Concepts launched the Oxlife Liberty, which is set to revolutionize the oxygen therapy landscape with its advanced features.
“According to the Federal Aviation Regulation No. 106 with acceptance criteria for portable oxygen concentrators to be used by passengers in air carrier operations, commercial operations and certain other operations using large aircraft. Currently, the agency assesses each portable oxygen concentrator on a case-by-case basis to determine whether it is safe for use on board aircraft. If the agency determines that a portable oxygen concentrator is safe for use on board aircraft, the specific model is identified in regulations.”
Influencing Trend:
Increasing Number of Patients with Lung Diseases and Technological Advancement in the Oxygen Concentrators
Market Growth Drivers:
Growing Prevalence of Different Respiratory Disorders and Rising Demand for Home Healthcare Oxygen Therapies
Challenges:
Lack of Advanced Healthcare Infrastructure in the Low and Middle Income Group Countries
Restraints:
Stringent Government Regulations Regarding Medical Devices and High Cost of Medical Oxygen Concentrators
Opportunities:
Increasing Demand for the Portable Oxygen Concentrators and Growing Healthcare Infrastructure in the Developing Countries
Key Target Audience
Oxygen Concentrator Manufacturers, Oxygen Concentrator Distributors and Sales Firms, Healthcare Institutions (Hospitals and Outpatient Clinics), Research Institutes, Organizations, and Consulting Companies, Contract Research Organizations (CROs), Contract Manufacturing Organizations (CMOs), Business Research and Consulting Firms, Venture Capitalists and Investors and Others