NEW YORK, USA, Aug. 23, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Oxygen Concentrator Market Size, Share, Growth Analysis Report By Delivery System (Pulse Flow and Continuous Flow), By Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Respiratory Distress Syndrome and Others), By End User (Hospital, Homecare Settings, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Oxygen Concentrator Market size & share in terms of revenue was worth of USD 1,629.30 million in 2021 and it is expected to surpass around USD 2,542.70 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 7.70% during the forecast period 2022 to 2028.”
What is Oxygen Concentrator? How big is the Oxygen Concentrator Industry?
Report Overview:
An oxygen concentrator market is a medical device that gives people with respiratory illnesses access oxygen. The concentrator separates nitrogen and oxygen from ambient air, discards the nitrogen, and gives patients access to 95% pure oxygen via a mask. POCs are easier for patients to carry because they are smaller than fixed oxygen concentrators. In addition to patients, mountaineers and tourists utilize POCs in locations with insufficient oxygen.
Moreover, medical professionals frequently employ oxygen concentrators for therapeutic and diagnostic purposes. Medical oxygen gas systems like oxygen concentrators and compressed oxygen gas cylinders are widely used in home care settings. Older patients who have mobility issues and need a consistent oxygen supply typically choose these systems.
To maintain proper oxygen levels, some prevalent chronic medical conditions, such as chronic obstructive pulmonary disease (COPD), emphysema, and chronic bronchitis, which are common long-term repercussions of smoking, require oxygen therapy or supplemental oxygen. Additionally, various oxygen delivery devices are employed to provide patients with a controlled amount of oxygen. Medical oxygen gas, which is high purity oxygen made specifically for use in the human body during clinical treatments, is another option.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 206+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 1,629.30 Million |
| Projected Market Size in 2028 | USD 2,542.70 Million |
| CAGR Growth Rate | 7.70% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Koninklijke Philips N.V, Chart Industries Inc., Invacare Corporation, Inogen Inc., Drive Devilbiss Healthcare, O2 Concepts LLC, Nidek Medical, GCE Group, CaireInc and Others |
| Key Segment | By Delivery System, Application, End User, and Regions |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Market Dynamics
Growth Drivers
- Increasing the geriatric population to drive market growth
A growing elderly population is anticipated to be the main driver of market growth during the forecast period. Aging causes the diaphragm to weaken, which makes it more challenging to breathe fully and lowers the body's oxygen level. For instance, according to the World Health Organization, there will be 910 million elderly people in Europe by 2021, up from 894 million in 2019. There will be 19 million people in Europe who are 85 years of age or older by 2020, and 40 million by 2050.
Restraints
- The high capital cost involved hindering the market growth
Due to the high capital costs involved in CO2 capture, it is anticipated that the global market for medical oxygen concentrators will expand slowly. Both the system or product and the demand for oxygen are very high. One of the many expensive process cycles used in manufacturing is CO2 capture. Additionally, it is predicted that the low acceptance of stationary and single-user equipment will limit market growth. This is caused by the size of the oxygen systems.
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Oxygen Concentrator Market: COVID-19 Impact Analysis
Directly affecting supply and demand, causing disruptions in distribution networks, and having an economic impact on businesses and financial markets are the three primary ways in which COVID-19 can have an effect on the economy. Because of widespread lockdowns, the movement of medications from one site to another is difficult for many countries, including China, India, Saudi Arabia, the United Arab Emirates, and Egypt, as well as other countries.
As a result of the COVID-19 pandemic, there has been an increase in demand for medical oxygen concentrators. In its most basic form, COVID-19 is a respiratory disorder that has an effect on the lungs and, in challenging circumstances, reduces the amount of oxygen in the air. The most distinguishing feature of COVID-19 is the presence of bilateral pneumonia, which results in an increased requirement for supplemental oxygen. In order to increase the amount of oxygen present, several pieces of equipment, such as oxygen concentrators and liquid oxygen concentrators, are utilised. Instead of oxygen tanks, oxygen concentrators are used for oxygen therapy when liquid oxygen is in short supply. This is due to the fact that oxygen tanks can operate continuously. The fact that there are more cases, however, results in a severe imbalance between supply and demand.
Segmentation Analysis
The global oxygen concentrator market is segmented into a delivery system, application, and end user. The market is divided into pulse and continuous, depending on the delivery system. In 2021, the continuous delivery system category had a major share. The market is divided into sections based on application, including COPD, asthma, respiratory distress syndrome, and others. In 2021, the asthma category dominated the global market. End user separates it into hospitals, home healthcare, and other categories. In 2021, the home care market for medical oxygen concentrators and oxygen cylinders was the largest in revenue.
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Competitive Landscape
The report contains qualitative and quantitative research on the global oxygen concentrator market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main competitors dominating the global oxygen concentrator market include -
- Koninklijke Philips N.V
- Chart Industries Inc.
- Invacare Corporation
- Inogen Inc.
- Drive Devilbiss Healthcare
- O2 Concepts LLC
- Nidek Medical
- GCE Group
- CaireInc
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Oxygen Concentrator market is estimated to grow annually at a CAGR of around 7.70% over the forecast period (2022-2028).
- In Terms Of Revenue, The Oxygen Concentrator market size was valued at around USD 1,629.30 million in 2021and is projected to reach USD 2,542.70 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- By delivery system, the continuous flow category dominated the market in 2021.
- By end user, the homecare settings category dominated the market in 2021.
- North America dominated the global oxygen concentrator market in 2021.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Oxygen Concentrator industry?
- What are the main driving factors propelling the Oxygen Concentrator Market forward?
- What are the leading companies in the Oxygen Concentrator Industry?
- What segments does the Oxygen Concentrator Market cover?
- How can I receive a free copy of the Oxygen Concentrator Market sample report and company profiles?
Regional Analysis:
In 2021, the largest revenue share was held by North America. One of the area's major market expansion drivers is the region's aging population. This is due to the weakened immune systems and limited ability for oxygen intake and the population is more susceptible to a variety of respiratory illnesses. Additionally, government programs like the Federal Aviation Administration's (FAA) authorization to use oxygen concentrator market during air travel and the rising incidence of severe chronic obstructive pulmonary disease by unhealthy lifestyles boost the regional market.
Moreover, Asia Pacific is the most profitable market during the projection period. The frequency of lung illnesses and the fast-growing geriatric population are major drivers of regional market expansion. By 2050, it is predicted that one in four residents in the area will be older than 60. The region's advanced economies have seen major living and health standards rise. Increases in healthcare costs, life expectancy, and public knowledge of new technologies are a few factors anticipated to support regional market expansion throughout the projection period.
Recent Developments
- In May 2021, OxyGo LLC announced that it had acquired LIFE Corporation, a medical equipment manufacturer for administering CPR and portable emergency oxygen. This acquisition improved the company's capacity for development and provided chances for market-based commercial growth.
- To expand their business in the oxygen concentrator market s market, NGK SPARK PLUG CO., LTD. announced in October 2018 that it had acquired the oxygen-related product businesses of CAIRE Inc. in the United States, Chart BioMedical (Chengdu) Co., Ltd. in China, and Chart BioMedical Limited in the United Kingdom. This has improved the company's product lineup in the marketplace.
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The global oxygen concentrator market is segmented as follows:
By Delivery System
- Continuous Flow
- Pulse Flow
By Application
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Respiratory Distress Syndrome
- Others
By End User
- Hospitals
- Homecare Settings
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Delivery System, Application, End User, and Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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