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Oxygen Concentrators Market was Valued at US$ 1378.07 Mn in 2020 Owing to Rising Prevalence of Respiratory Diseases.

Published On 25 Sep 2021 10:43 AM


Absolute Markets Insights (AMI) reports a robust forecast for the oxygen concentrators market during the 2021-2029 period. AMI anticipates that the market will grow at 7.1% owing to technological advancements in the equipment along with growing demand for portable oxygen concentrators amidst the pandemic. AMI reports that the market stood at a valuation of US$ 1378.07 Mn in 2020.

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Stationery Oxygen Concentrators held a Substantial Share in the Market in 2020

Stationery oxygen concentrators held a remarkable share in the global oxygen concentrators market and is further expected to achieve substantial growth due to the pandemic situation worldwide. Stationery oxygen concentrators are massively used in the front line of military hospitals, disaster facilities and others, which has led to their increased demand. A large number of patients, mainly chronic obstructive pulmonary disease (COPD) and overlap-syndrome patients, are simultaneously using home oxygen therapy through noninvasive ventilation (NIV) modality. Additionally, there is also wide improvement in the home based stationary oxygen concentrator technology, which include less weight, and more power amongst other features of the new stationary units. The huge advancements in technology is proved by the effectiveness of the devices in providing improved patient lifestyle. Stationary oxygen concentrator systems are mostly used by patients to supplement portable oxygen concentrators. Portable oxygen are largely accompanied with standard stationary devices, since they provide a more stable source of oxygen during sleep.

Pulse Dose to Encounter Significant Growth during 2021 – 2029

According to AMI, pulse flow technology is expected to witness fastest growth during the 2021-2029 period. Due to rapid advancements in technology in oxygen concentrators, pulse dose-based oxygen concentrators are more efficient and is majorly used by patients who require short doses of oxygen. Due to changing lifestyle and increasing pollution working professionals, travellers, sports players and others suffering from respiratory disorders are rapidly opting for oxygen concentrators based on this technology.

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Hospitals Held the Highest Share in Oxygen Concentrators Market in 2020

Due to rise in number of hospitals, medical healthcare facilities and high per capita healthcare expenditure has increased the demand for oxygen concentrators. Comparatively oxygen concentrators are more suitable for use in all levels of medications rather than oxygen cylinders. Hospitals are adopting oxygen concentrators to lower cost supply of oxygen. Additionally, organizations such as UNICEF are providing oxygen concentrators to various hospital across globe. In another instance, companies like AirSep introduced wall mounted and portable oxygen concentrators for small clinics with wide ranging capacity of oxygen along with central piping systems for stationery generators. Surge in COVID-19 cases have led to extensive demand for oxygen concentrators for effective and remote treatment of affected patients.

Increased Penetration of Respiratory Diseases to Drive Fastest Growth in the Asia Pacific Region

According to a study, Asia Pacific constitutes an estimate of 226 million elderly people (aged 65 and over), which are prone to respiratory diseases. Surge in need for oxygen supply in this region due to higher population, development in health care infrastructure, and rise in number of hospitals equipped with advanced medical facilities is boosting the growth of oxygen concentrators market in this region. Countries in Asia Pacific such as India have high level of air pollution due to increase in number of vehicles, economic boom, manufacturing industries, high population growth and others. The extensive air pollution in the country has led to increasing patient population suffering from respiratory and chronic problems, thereby making it essential to use oxygen concentrators and contribute towards the growth of oxygen concentrators market. Companies in this region are investing towards advancement and development of the equipment to incorporate efficient and easy features, which is expected to boost the oxygen concentrators market over the forecast period. AMI reports that Asia Pacific region will have fastest growth over the forecast period as population in major countries like China continues to age, and opportunities for commercialisation steadily increase. Furthermore, large population of the region and expanding access to healthcare is anticipated to open new avenues for growth for players in the oxygen concentrators market globally during the 2021-2029 period.

Some of the players operating in the oxygen concentrators market BPL Medical Technologies, CAIRE Inc., DeVilbiss Healthcare LLC, GCE Group, Inogen, Inc., Invacare Corporation, Koninklijke Philips N.V., Nidek Medical Products, Inc., O2 CONCEPTS, LLC, TEIJIN LIMITED and Other Industry Participants.

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Global Oxygen Concentrators Market

  • By Offering
    • Products
      • Stationary
      • Portable
    • Accessories
      • Battery Packs
      • Backpacks & Cover
      • Charger
      • Others
    • Services
  • By Functionality
    • Continuous Flow
    • Pulse Dose
  • By End Users
    • Hospitals Highest Share
    • Clinics
    • Home Care Fastest Growing
    • Others
  • By Distribution Channel
    • Online
    • Offline
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Sweden
        • Norway
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxembourg
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America

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Press Release Provided By: Absolute Markets Insights