Global Medical Oxygen Concentrators and Oxygen Cylinders Market, By Product (Portable Oxygen Concentrator Cylinders and Stationary Oxygen Concentrator Cylinders), Technology (Continuous Flow and Pulse Flow), End Use (Home Care and Non Home Care) – Industry Trends and Forecast to 2031.
Medical Oxygen Concentrators and Oxygen Cylinders Market Analysis and Size
The market is primarily fueled by the increasing prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma, which require oxygen therapy for management. In addition, the rising geriatric population, more prone to respiratory illnesses, contributing to the market's growth. Technological advancements in medical oxygen concentrators and cylinders drive market growth. Manufacturers are introducing innovative products with enhanced features, such as portability, improved battery life, and reduced noise levels, to meet the growing demand for home healthcare devices.
The global medical oxygen concentrators and oxygen cylinders market size was valued at USD 3.60 billion in 2023 and is projected to reach USD 5.65 billion by 2031, with a CAGR of 5.8% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Portable Oxygen Concentrator Cylinders and Stationary Oxygen Concentrator Cylinders), Technology (Continuous Flow and Pulse Flow), End Use (Home Care and Non Home Care)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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Medical Depot, Inc. (Canada), Koninklijke Philips N.V. (Netherlands), Invacare Corporation (U.S.), NIDEK MEDICAL INDIA (India), Inogen Inc. (U.S.), CAIRE Inc. (U.S.), O2 CONCEPTS LLC (U.S.), OxyGo,LLC (U.S.), Precision Medical, Inc. (U.S.), Linde plc (Ireland), Chart Industries (U.S.), GCE Group (Sweden), Drive DeVilbiss Healthcare (U.S.), Airgas Inc (U.S.), Messer SE & Co. KGaA (Germany), OrientMEd International (UAE), and TECNO-GAZ SpA (Italy)
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Market Opportunities
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Market Definition
Medical oxygen concentrators and oxygen cylinders are devices used to deliver supplemental oxygen to individuals with respiratory conditions or needing increased oxygen levels. Oxygen concentrators work by extracting oxygen from the air, concentrating it, and delivering it to the user through a nasal cannula or mask. They are typically used in home settings or healthcare facilities for continuous oxygen therapy. On the other hand, oxygen cylinders are portable tanks filled with compressed oxygen gas. They are used when a concentrated oxygen source is needed in locations where an oxygen concentrator is not available or practical. Oxygen cylinders are often used for emergencies, during transportation, or in remote locations.
Global Medical Oxygen Concentrators and Oxygen Cylinders Market Dynamics
Drivers
- Increasing Prevalence of Chronic Respiratory Diseases
The growing prevalence of chronic respiratory diseases, including chronic obstructive pulmonary disease (COPD), asthma, and interstitial lung diseases, often require long-term oxygen therapy to improve the quality of life and reduce symptoms such as shortness of breath and fatigue. As the global burden of respiratory diseases continues to rise due to factors such as air pollution, smoking, and aging populations, the need for oxygen therapy devices is expected to increase significantly, which is a major factor driving the market growth.
- Growing Aging Population
The global population is aging rapidly, with a substantial increase in elderly individuals, especially in developed countries. The elderly population is more susceptible to respiratory illnesses due to age-related changes in lung function and increased prevalence of comorbidities. As a result, there is a growing demand for medical oxygen concentrators and oxygen cylinders to meet the oxygen therapy needs of elderly individuals with respiratory conditions. This is expected to drive market growth as the elderly population expands worldwide.
Opportunities
- Focus on Portable Oxygen Solutions
The healthcare industry is increasingly emphasizing the development of portable oxygen solutions to enhance mobility and convenience for patients requiring oxygen therapy. Portable oxygen concentrators and lightweight oxygen cylinders are becoming more prevalent, allowing patients to maintain an active lifestyle while receiving necessary oxygen therapy. These solutions offer greater flexibility for patients to travel, engage in daily activities, and participate in social events, creating new market opportunities.
- Technological Advancements
The medical oxygen concentrators and oxygen cylinders market is experiencing continuous technological advancements to enhance device efficiency, portability, and ease of use. Manufacturers are incorporating innovative features such as Bluetooth connectivity, digital displays, and improved battery life to enhance user experience and convenience. Additionally, advancements in materials and manufacturing processes are making oxygen concentrators and cylinders lighter and more durable. These technological advancements are creating new opportunities in the market.
Restraints/Challenges
- Cost Constraints
Manufacturers face the challenge of balancing high manufacturing costs with the need to provide affordable options for patients. This is particularly crucial as patients often rely on these devices for long-term use, requiring cost-effective solutions without compromising on quality. For consumers, the affordability of these devices can impact accessibility to life-saving treatment. Cost constraints pose a significant challenge for both manufacturers and consumers in the market.
- Supply Chain Disruptions
Raw material shortages, transportation constraints, and geopolitical issues are among the key factors that can disrupt the supply chain, leading to availability issues for these essential medical devices. During crises or emergencies, such disruptions can have severe consequences. The medical oxygen concentrators and oxygen cylinders market is significantly impacted by supply chain disruptions, presenting a critical challenge for the industry.
This medical oxygen concentrators and oxygen cylinders market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical oxygen concentrators and oxygen cylinders market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In February 2023, React Health, a company specializing in the development, manufacturing, and distribution of medical devices for treating sleep-disordered breathing and providing oxygen therapy, successfully acquired Invacare's Respiratory line. This strategic acquisition will enable React Health to enhance its position in the market further and expand its product portfolio to cater to a broader range of customers
- In January 2023, CAIRE Inc., a global manufacturer of oxygen therapy and on-site generation systems, acquired MGC Diagnostics Holdings, Inc., headquartered in St. Paul, Minnesota. The acquisition strengthened CAIRE's presence and commitment to diagnostic technologies, further enhancing its proficiency in catering to patients at all stages of pulmonary disease progression
Medical Oxygen Concentrators and Oxygen Cylinders Market Scope
The medical oxygen concentrators and oxygen cylinders market is segmented on the basis of product, technology, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Portable Oxygen Concentrator Cylinders
- Stationary Oxygen Concentrator Cylinders
Technology
- Continuous Flow
- Pulse Flow
End User
- Home Care
- Non Home Care
Medical Oxygen Concentrators and Oxygen Cylinders Market Regional Analysis/Insights
The medical oxygen concentrators and oxygen cylinders market is analyzed, and market size insights and trends are provided by country, product, technology, and end-user as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
North America is expected to dominate the market due to its robust healthcare facilities, significant presence of key market players, excellent healthcare infrastructure, and a large population affected by chronic diseases.
Asia-Pacific is expected to witness significant growth during the forecast period due to increased government initiatives aimed at promoting healthcare, rising health awareness among the populace leading to a higher demand for advanced medical technology for chronic diseases, a large population base, and an increasing demand for quality healthcare services in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The medical oxygen concentrators and oxygen cylinders market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical oxygen concentrators and oxygen cylinders market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical oxygen concentrators and oxygen cylinders market. The data is available for historic period 2016-2021.
Competitive Landscape and Medical Oxygen Concentrators and Oxygen Cylinders Market Share Analysis
The medical oxygen concentrators and oxygen cylinders market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Medical Depot, Inc. (Canada)
- Koninklijke Philips N.V. (Netherlands)
- Invacare Corporation (U.S.)
- NIDEK MEDICAL INDIA (India)
- Inogen Inc. (U.S.)
- CAIRE Inc. (U.S.)
- O2 CONCEPTS LLC (U.S.)
- OxyGo,LLC (U.S.)
- Precision Medical, Inc. (U.S.)
- Linde plc (Ireland)
- Chart Industries (U.S.)
- GCE Group (Sweden)
- Drive DeVilbiss Healthcare (U.S.)
- Airgas Inc (U.S.)
- Messer SE & Co. KGaA (Germany)
- OrientMEd International (U.A.E.)
- TECNO-GAZ SpA (Italy)
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