Oxygen Concentrators Market Updates

Global Oxygen Concentrators Market size was valued at USD 3.6 billion in 2023 and is poised to grow from USD 3.81 billion in 2024 to USD 6.03 billion by 2032, growing at a CAGR of 5.9% during the forecast period (2025-2032). 

Global oxygen concentrators market is fragmented in nature. The market is witnessing the presence and entrance of various global and regional players to cater to rising oxygen demand. Players in the market are adopting various strategies such as mergers and acquisitions, collaborations, and R&D activities to stay ahead in the competition. 'Philips Respironics (Netherlands) ', 'Inogen (USA) ', 'CAIRE Inc. (USA) ', 'Drive DeVilbiss Healthcare (USA) ', 'Invacare Corporation (USA) ', 'AirSep Corporation (USA) ', 'ResMed (USA) ', 'O2 Concepts (USA) ', 'Nidek Medical (USA) ', 'Yuwell (China) ', 'BPL Medical Technologies (India) ', 'Oxymed (India) ', 'Eloxy Technology (India) ', 'Equinox (India) ', 'GVS Enterprises (India) ', 'Evox (India) ', 'Nareena Lifesciences (India) ', 'SeQual Technologies (USA) ', 'Rhythm Healthcare (USA) ', 'Belluscura (USA)'

The spread of chronic diseases will surge the market growth rate during the forecast period. One of the primary factors driving the market's growth is the rising frequency of respiratory illnesses such as asthma. The market is growing due to the growing geriatric population who are prone to such disorders and the growing need for convenient portable gadgets.

Oxygen concentrators market is poised to witness significant growth in the next 2-3 quarters due to its large portfolio of respiratory devices. To meet the rapidly increasing global demand, the industry is increasing its mask manufacturing capacities by 10 times and ventilator manufacturing by 2-3 times. The industry has the capacity of manufacturing nearly 1 million devices annually, which will certainly help the company play a significant role to curb this situation.

North America dominates the global oxygen concentrators market share because of the well-established healthcare infrastructure and increasing awareness about advanced treatment methods in this region. Rising minimally invasive procedures will flourish the market growth rate in this region.