As per a revised research study released by Future Market Insights, the global portable oxygen concentrator market will achieve a value of USD 2.2 billion by 2024. Projections estimate that the market will reach at USD 4.3 billion by 2034, underscoring the ongoing positive trajectory. This anticipated growth signifies a consistent CAGR of 6.7% during the forecast period.
| Attributes | Key Insights |
|---|---|
| Portable Oxygen Concentrator Market Estimated Size in 2024 | USD 2.2 billion |
| Projected Market Value in 2034 | USD 4.3 billion |
| Value-based CAGR from 2024 to 2034 | 6.7% |
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Demand for portable oxygen concentrators rose at an 8.0% CAGR between 2019 and 2023. The global market is achieving heights to grow at a moderate CAGR of 6.7% over the forecast period 2024 to 2034. The market experienced a steady growth during the historical period, attributed to the increasing prevalence of respiratory diseases, technological advancements in POCs, as well as rising demand for home healthcare solutions.
Significant advancements were made in the technology during the historical period, such as lighter and more portable devices, longer battery life, which led to increased demand for these concentrators. The aging population, particularly in developed countries, contributed to the rising demand for the concentrators, as the elderly are more susceptible to respiratory ailments and require oxygen therapy.
Increasing healthcare expenditures across the globe, coupled with expanding insurance coverage for medical devices, including these concentrators, will augment the market growth during the forecast period. The shift towards homecare and ambulatory settings in healthcare delivery will fuel demand for lightweight, portable, and user friendly concentrators that enable patients to maintain their mobility and independence.
Integration of digital health technologies, such as telemedicine, remote patient monitoring, and mobile health apps, will further drive market growth by enhancing patient engagement.
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| Country | The United States |
|---|---|
| CAGR through 2034 | 3.9% |
The portable oxygen concentrator market in the United States will expand at a CAGR of 3.9% through 2034. The country is a hub for medical device innovation, with continuous advancements in concentrator technology. Manufacturers in the country are at the forefront of developing lightweight, portable, and user friendly concentrators with advanced features.
The United States has a high prevalence of respiratory disorders such as chronic obstructive pulmonary disease, asthma, and sleep apnea. The aging population, high smoking rates, and environmental pollution contribute to the prevalence of these conditions.
| Country | Germany |
|---|---|
| CAGR through 2034 | 4.6% |
The portable oxygen concentrator market in Germany to expand at a CAGR of 4.6% through 2034. The country has an aging population, with a large segment of the population over the age of 65.
Older adults are more susceptible to respiratory illnesses and often require oxygen therapy to manage their conditions. The aging demographic contributes to the growing demand for concentrators in the country.
The country has a publicly funded healthcare system, the National Health Service, which provides comprehensive healthcare coverage to residents. Concentrators may be prescribed and provided to eligible patients through the NHS, ensuring broad access to these devices across the country.
| Country | India |
|---|---|
| CAGR through 2034 | 5.6% |
Portable oxygen concentrator trends in China are taking a turn for the better. A 5.6% CAGR is forecast for the country from 2024 to 2034. There is a growing trend towards home based healthcare in India, driven by factors such as rising healthcare costs, limited access to healthcare facilities in rural areas, and preference for personalized care.
Concentrators enable patients to receive oxygen therapy in the comfort of their own homes. Healthcare expenditure is increasing in India, driven by factors such as economic growth, urbanization, and government investments in healthcare infrastructure. Rising healthcare spending translates to greater accessibility to medical devices, including concentrators, for patients across the country.
| Country | China |
|---|---|
| CAGR through 2034 | 6.7% |
The portable oxygen concentrator market in Japan is poised to expand at a CAGR of 6.7% through 2034. China is increasingly integrated into the global healthcare market, with domestic manufacturers expanding their presence in international markets.
Collaboration with international partners and participation in global healthcare initiatives drive innovation and market growth in China. Increased awareness among healthcare providers and patients about the benefits of oxygen therapy and the availability of concentrators contributes to market growth. Educational initiatives and advocacy efforts raise awareness about respiratory health and oxygen therapy solutions.
| Country | Australia and New Zealand |
|---|---|
| CAGR through 2034 | 4.1% |
The portable oxygen concentrator market in Australia and New Zealand will expand at a CAGR of 4.1% through 2034. Both the countries have vast rural and remote regions where access to healthcare facilities may be limited. Concentrators play a crucial role in delivering oxygen therapy to patients living in these areas, where access to traditional oxygen therapy solutions such as cylinders may be challenging or impractical.
Both Australia and New Zealand are known for their outdoor lifestyle and tourism. People engage in various outdoor activities such as hiking, camping, and exploring remote areas. Concentrators allow individuals with respiratory conditions to participate in these activities by providing them with access to oxygen therapy outside of traditional healthcare settings.
The below table highlights how pulse flow segment is leading the market in terms of product, and will account for a share of 69.2% in 2024. Based on end user, the homecare settings segment is gaining heights and will to account for a share of 66.2% in 2024.
| Category | Shares in 2024 |
|---|---|
| Pulse Flow | 69.2% |
| Homecare Settings | 66.2% |
Based on product, the pulse flow segment will dominate the portable oxygen concentrator market. Pulse flow concentrators utilize a demand based oxygen delivery system that conserves oxygen by only delivering oxygen when the patient inhales.
The energy efficient design extends battery life, allowing patients to use the device for longer durations without the need for frequent recharging or replacement of batteries.
Pulse flow POCs are typically more compact and lightweight compared to continuous flow devices, making them highly portable and convenient for patients who are active and on the go. The enhanced portability of pulse flow concentrators appeals to patients who desire freedom of movement and flexibility in their daily activities.
In terms of end user, the homecare settings segment will dominate the portable oxygen concentrator market. Home based oxygen therapy using portable oxygen concentrators is often more cost effective compared to institutionalized care settings.
Homecare settings help lower healthcare costs for both patients and healthcare systems, by reducing hospital admissions, emergency room visits, and the need for caregiver assistance. Homecare settings offer patients a higher quality of life compared to institutionalized care settings such as hospitals or long term care facilities.
Patients can maintain their independence, continue their daily activities, and remain connected with their families and communities while receiving necessary medical treatment, including oxygen therapy.
The portable oxygen concentrator market is characterized by a diverse mix of global, regional, and local players competing to gain market share and meet the growing demand for oxygen therapy solutions globally.
Company Portfolio
| Attribute | Details |
|---|---|
| Estimated Market Size in 2024 | USD 2.2 billion |
| Projected Market Valuation in 2034 | USD 4.3 billion |
| Value-based CAGR 2024 to 2034 | 6.7% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD Billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Market Segments Covered | Product, End User, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Koninklijke Philips N.V.; Inogen, Inc; Chart Industries, Inc.; Resmed, Inc.; Invacare Corporation; Drive DeVilbiss Healthcare LLC; Precision Medical, Inc.; Besco Medical Co. Ltd.; Oxus America, Inc.; Foshan KeyhubElectronic Industries Co. Ltd.; O2 Concepts LLC; GCE Group |
The portable oxygen concentrator market is projected to reach a valuation of USD 2.2 billion in 2024.
The portable oxygen concentrator industry is set to expand by a CAGR of 6.7% through 2034.
The portable oxygen concentrator market is forecast to reach USD 4.3 billion by 2034.
India is set to be the top performing market, exhibiting a CAGR of 6.7% through 2034.
Pulse flow segment is preferred, and will account for a share of 69.2% in 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology 5.1. Pulse Flow 5.2. Continuous Flow 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 6.1. Portable 6.2. Fixed 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 7.1. Hospital 7.2. Homecare 7.3. Ambulatory Surgical Centres 7.4. Travel Agents 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Koninklijke Philips N.V. 18.2. Inogen, Inc 18.3. Chart Industries, Inc. 18.4. Resmed, Inc. 18.5. Invacare Corporation 18.6. Drive DeVilbiss Healthcare LLC 18.7. Precision Medical, Inc. 18.8. Besco Medical Co. Ltd. 18.9. Oxus America, Inc. 18.10. Foshan Keyhub Electronic Industries Co. Ltd. 18.11. O2 Concepts LLC 19. Assumptions & Acronyms Used 20. Research Methodology
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Portable Oxygen Concentrator Market
