Global Portable Oxygen Concentrators Market, By Deliver System (Continuous Flow, Pulse Flow), Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Respiratory Distress Syndrome, Sleep Apnea, Others), End-User (Hospitals, Homecare Settings, Ambulatory Surgical Centers, Travel Agents, Others) – Industry Trends and Forecast to 2030.
Portable Oxygen Concentrators Market Analysis and Size
According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) is the third leading cause of death worldwide, accounting for approximately 3.23 million deaths. Portable oxygen concentrator sales are expected to rise at a healthy rate during the forecast period because people with this disease frequently require oxygen therapy to increase oxygen levels in their blood and improve oxygen supply to their organs.
Data Bridge Market Research analyses that the portable oxygen concentrators market which is USD 1.58 billion in 2022, is expected to reach USD 3.03 billion by 2030, at a CAGR of 8.5% during the forecast period 2023 to 2030. 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.
Portable Oxygen Concentrators Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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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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Deliver System (Continuous Flow, Pulse Flow), Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Respiratory Distress Syndrome, Sleep Apnea, Others), End-User (Hospitals, Homecare Settings, Ambulatory Surgical Centers, Travel Agents, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Smiths Medical, Inc. (U.S.), ResMed (U.S.), Invacare Corporation (U.S.), Zadro Health Solutions (U.S.), Koninklijke Philips N.V (Netherlands), Chart Industries, Inc. (U.S.), Nidek Medical (India), Inogen, Inc. (U.S.), Drive DeVilbiss Healthcare (U.S.), O2 CONCEPTS LLC., (U.S.), GCE Group (Sweden), CAIRE Inc. (U.S.), Precision Medical, Inc. (U.S.), Besco Medical Co., LTD (China), Foshan Keyhub Electronic Industries Co. Ltd. (China), Philips Respironics (U.S.)
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Market Opportunities
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Market Definition
A portable oxygen concentrator (POC) is a medical device component that helps patients with low blood oxygen levels. It is used to provide patients with extra oxygen. The oxygen provided by portable oxygen concentrator devices is more concentrated than that found in the atmosphere. This module collects, purifies, and transmits air. The operation of an oxygen concentrator is straightforward. The portable oxygen concentrator is easy to transport, safer, smaller in size, and less expensive. It reduces the risk of a heart attack and respiratory illness, and improves mental clarity and general mood.
Portable Oxygen Concentrators Market Dynamics
Drivers
- Rising number of chronic diseases
The growing geriatric population is increasing the demand for home care settings, particularly in developed countries. The rising number of patients suffering from chronic obstructive pulmonary disease (COPD) and respiratory diseases as a result of unhealthy lifestyle choices such as marijuana, cigars, and pipes consumption among the young population and workplace exposure to hazardous substances is expected to drive demand for portable oxygen concentrators during the forecast period.
- Rise in advanced technologies
Manufacturers' use of advanced technologies in the production of oxygen concentrators is also driving market growth. Companies are focusing on developing products with higher efficacy and lower costs to meet the growing demand for portable oxygen concentrators. For instance, in June 2021, Servotech Power Systems announced the launch of a medical-grade oxygen concentrator in India and raised awareness of the product to increase sales for manufacturers by collaborating with prestigious educational institutions such as IIT Jammu.
Furthermore, investment funding and appropriate reimbursement policies implemented by the government and private institutions are propelling market growth. Strategic activities such as mergers and acquisitions among organizations encourage and create platforms for new market participants.
- Increase in the proportion of elderly people
The ageing population, which is susceptible to these ailments, as well as the rising demand for practical portable technology, are driving the market forward. The rise in everyday pollutant exposure will also have a significant impact on the compressed air extractor market. Aside from that, rising urbanisation and discretionary economic levels are driving the portable gas concentrator industry's growth. Rising healthcare spending and people's constantly changing lifestyles are two other key market factors that will propel the market for portable gas condensers even further.
Opportunities
- Rising cases of COPD and continuous new product launches
Increased adoption of portable oxygen concentrators in developing countries as a result of rising incomes and technological advancements will create opportunities for the portable oxygen concentrators market during the forecast period. Globally, the number of people suffering from chronic obstructive pulmonary disease (COPD) is rising, particularly in India and China. As a result, the global demand for portable oxygen concentrators will rise.
Furthermore, companies' increased investment in the production of continuous flow portable oxygen concentrators and pulse flow portable oxygen concentrators will fuel market growth during the forecast period.
Restraints/Challenges
- High cost
The high cost of portable oxygen concentrators is a major impediment to their widespread use. POC adoption is low in developing countries due to low disposable income and high product costs when compared to developed countries.
Furthermore, the government's strict regulations and reimbursement policies are impeding the portable oxygen concentrators market growth. Changes in some countries' FDA approval policies for medical devices are affecting the industry's growth.
This portable oxygen concentrators 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 portable oxygen concentrators market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Portable Oxygen Concentrators Market
The COVID-19 outbreak had a significant impact on the lives and businesses of many people. During the COVID-19 pandemic, portable oxygen concentrators had a positive impact. The sudden increase in COVID-19 cases has increased demand for medical oxygen concentrators. COVID-19 is an extremely contagious infection caused by severe acute respiratory syndrome. During the pandemic, critically ill people with acute respiratory syndrome accounted for 15-26 percent of all cases. As a result, rising demand for intensive critical care and a large patient pool requiring oxygen therapy will accelerate market growth. The cornerstone of COVID-19 disease management was oxygen therapy. It can also keep patients alive for several days to weeks, making it a popular treatment option for infectious diseases.
Recent Developments
- In 2021, Servotech Power Systems announced the release of medical grade oxygen concentrators. Servotech has also expanded its network of strategic alliances by collaborating with IIT Jammu and IISER Bhopal to transfer knowledge to manufacture oxygen concentrators in India, allowing them to produce a truly indigenous product. Servotech will provide concentrators to hospitals, foundations, medical institutions, business institutions, and other key stakeholders in need of the product.
- In 2019, Inogen launched New Aera, Inc., a manufacturer of non-invasive portable ventilation systems. The company has decided to incorporate TAV technology into its oxygen concentrators in order to maintain its market position with an innovative portfolio.
Global Portable Oxygen Concentrators Market Scope
The portable oxygen concentrators market is segmented on the basis of deliver system, application 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.
Deliver System
- Continuous Flow
- Pulse Flow
Application
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Respiratory Distress Syndrome
- Sleep Apnea
- Others
End-User
- Hospitals
- Homecare Settings
- Ambulatory Surgical Centers
- Travel Agents
- Others
Portable Oxygen Concentrators Market Regional Analysis/Insights
The portable oxygen concentrators market is analyzed and market size insights and trends are provided by country, delivery system, application and end-user as referenced above.
The countries covered in the portable oxygen concentrators market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the portable oxygen concentrators market because of the presence of well-developed healthcare infrastructure and favourable reimbursement policies in the region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the growing incidence of cancer such as bladder, esophagus, liver, pancreas, and others, high presence of major manufacturers across the U.S. Furthermore, technological advancements and rising foreign investment.
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 portable oxygen concentrators 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 portable oxygen concentrators market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the portable oxygen concentrators market. The data is available for historic period 2011-2021.
Competitive Landscape and Portable Oxygen Concentrators Market Share Analysis
The portable oxygen concentrators 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, application dominance. The above data points provided are only related to the companies' focus related to portable oxygen concentrators market.
Some of the major players operating in the portable oxygen concentrators market are:
- Smiths Medical, Inc. (U.S.)
- ResMed (U.S.)
- Invacare Corporation (U.S.)
- Zadro Health Solutions (U.S.)
- Koninklijke Philips N.V (Netherlands)
- Chart Industries, Inc. (U.S.)
- Nidek Medical (India)
- Inogen, Inc. (U.S.)
- Drive DeVilbiss Healthcare (U.S.)
- O2 CONCEPTS LLC., (U.S.)
- GCE Group (Sweden)
- CAIRE Inc. (U.S.)
- Precision Medical, Inc. (U.S.)
- Besco Medical Co., LTD (China)
- Foshan Keyhub Electronic Industries Co. Ltd. (China)
- Philips Respironics (U.S.)
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