USD 4.39 billion
Medical Oxygen Concentrators & Oxygen Cylinders Market Size, Share, Growth Analysis, By Product(Portable and Stationary Oxygen Concentrators), By End-user(Hospitals, Home Healthcare Settings) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2535 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Medical Oxygen Concentrators & Oxygen Cylinders Market Insights
Global Medical Oxygen Concentrators & Oxygen Cylinders Market size was valued at USD 4.39 billion in 2022 and is poised to grow from USD 4.60 billion in 2023 to USD 6.59 billion by 2031, at a CAGR of 4.6% during the forecast period (2024-2031).
The global medical oxygen concentrators and oxygen cylinders market has been witnessing steady growth, driven by several factors including the rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and COVID-19-related respiratory complications. Medical oxygen concentrators and cylinders play a critical role in delivering oxygen therapy to patients with respiratory disorders, both in homecare settings and healthcare facilities. The market is characterized by a growing demand for portable and stationary oxygen concentrators, which offer advantages such as convenience, mobility, and ease of use for patients requiring continuous oxygen therapy.
Additionally, technological advancements such as improved battery life, lightweight designs, and enhanced oxygen delivery systems have further fueled the adoption of oxygen concentrators over traditional oxygen cylinders. The COVID-19 pandemic has significantly impacted the market dynamics, leading to a surge in demand for medical oxygen equipment worldwide.
The unprecedented rise in hospitalizations due to severe respiratory complications associated with the virus has highlighted the critical need for adequate oxygen supply infrastructure, driving investments in oxygen concentrators and cylinders by governments, healthcare organizations, and manufacturers.
Key players are focused on product innovation, strategic partnerships, and geographic expansion to strengthen their market presence and meet the evolving needs of healthcare providers and patients. Despite the overall positive outlook, the market faces challenges such as regulatory compliance, reimbursement issues, and supply chain disruptions.
Moreover, the increasing adoption of alternative respiratory therapies such as non-invasive ventilation and high-flow oxygen therapy could potentially impact market growth in the long term. Looking ahead, the global medical oxygen concentrators and oxygen cylinders market is expected to continue growing, driven by the aging population, increasing prevalence of respiratory diseases, and ongoing advancements in technology. Additionally, the growing demand for home healthcare solutions and the rising focus on telemedicine are anticipated to create new opportunities for market players in the coming years.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Home Healthcare Settings
Growth Rate
4.6% CAGR
Global Medical Oxygen Concentrators & Oxygen Cylinders Market ($ Bn)
Country Share for North America Region (%)
Global Medical Oxygen Concentrators & Oxygen Cylinders Market By End User ($ Bn)
Global Medical Oxygen Concentrators & Oxygen Cylinders Market By End User (%)
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Medical Oxygen Concentrators & Oxygen Cylinders Market Segmental Analysis
The global medical oxygen concentrators and oxygen cylinders market can be segmented based on product, end-user, and region. Product types include portable and stationary oxygen concentrators, as well as various sizes of oxygen cylinders. End-users encompass hospitals, home healthcare settings, and ambulatory care.
Analysis By Product
The largest market segment in the medical oxygen concentrators and oxygen cylinders market has traditionally been dominated by oxygen cylinders, especially in hospital settings and emergency medical services. Oxygen cylinders are the primary choice for delivering high-flow oxygen in critical situations.
The portable medical oxygen concentrators market has been one of the fastest-growing segments in recent years. This growth can be attributed to the increasing preference for home-based care, advancements in portable concentrator technology, and the desire of patients to maintain an active lifestyle despite their medical conditions.
Analysis By End-user
The major end-users are typically hospitals and healthcare facilities because of their massive patient volumes and variety of medical needs. To accommodate different medical circumstances, they frequently need a sizable quantity of oxygen cylinders and concentrators.
Homecare has rapidly climbed the market ladders, securing its place as the fastest growing segment in the market. Thanks to this segment’s contribution, patients suffering from breathing problems can ease their pain from the comfort of their home. The convenient and easy use of oxygen therapy in homecare reduces the need for prolonged hospital visits or stays, still improving their quality of life. This is due to developments in mobile and user-friendly oxygen concentrators.
Global Medical Oxygen Concentrators & Oxygen Cylinders Market By End User, 2023 (%)
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Medical Oxygen Concentrators & Oxygen Cylinders Market Regional Insights
North America accounted for the greatest market for oxygen cylinders and medical oxygen concentrators, with the United States holding the primary position. The region's supremacy was aided by its highly developed healthcare system, high rate of chronic respiratory illnesses, and solid distribution networks.
According to the most recent assessment, areas of Latin America and the Asia-Pacific region were probably the fastest-growing. The need for medical oxygen-related products was being driven in these regions by a growing geriatric population, rapid economic expansion, urbanization, and increased healthcare awareness. Significant development in this industry was predicted for American nations, India in the Asia-Pacific region, and a few Latin American nations.
Global Medical Oxygen Concentrators & Oxygen Cylinders Market By Region, 2024-2031
- Largest
- Fastest
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Medical Oxygen Concentrators & Oxygen Cylinders Market Dynamics
Drivers
Increasing Healthcare Demand
- The need for oxygen cylinders and medical oxygen concentrators has surged due to the aging population and growing worldwide population. Medical oxygen cylinders and concentrators can provide patients with assisted oxygen during surgical operations. Other uses of these devices can be seen in multiple forms of illness treatment. Illnesses like asthma and COPD (chronic obstructive pulmonary disease) are greatly helped thanks to this market’s products.
Prevalence of Respiratory Diseases
- Respiratory issues are growing more common around the globe. This rise in incidence of these illnesses, particularly in emerging economies, has fueled the growth of the medical oxygen concentrators and cylinders market. The rise in pollution and smoking, coupled with the poor living methods of the global population, boosted the demand for oxygen therapy as conditions like breathing issues become a commonality.
Restraints
High Costs
- Significant upfront expenditures for medical oxygen concentrators and oxygen cylinders can be a substantial barrier, particularly in low- and middle-income nations. Healthcare facilities and patients may find it exorbitant to purchase, maintain, and operate these gadgets.
Infrastructure Challenges
- The infrastructure required for the transport and storage of medical oxygen may be lacking in some areas, especially in developing nations. Medical oxygen concentrators and cylinders may not always be available or easily accessible due to poor transportation networks, power supply problems, or a shortage of medical facilities.
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Medical Oxygen Concentrators & Oxygen Cylinders Market Competitive Landscape
Key competitors in the global medical oxygen concentrators and oxygen cylinders market are engaged in fierce competition as they try to meet the growing demand for respiratory care equipment. Leading companies in the field, such as Philips Respironics, Inogen, Invacare, and DeVilbiss Healthcare, concentrate on innovation to provide novel, lightweight, and easy-to-use oxygen cylinders and concentrators that improve patient mobility and convenience. Furthermore, mergers, acquisitions, and strategic alliances are typical methods for growing a market. The market is expanding due to rising awareness of respiratory conditions and the value of home oxygen therapy. However, entrance obstacles for new entrants are created by strict regulatory requirements and quality standards. As healthcare systems worldwide prioritize respiratory care infrastructure, the competition in the medical oxygen equipment sector is expected to remain robust, fostering innovation and accessibility for patients in need.
Top Player’s Company Profiles
- Inogen - United States
- Salter Labs - United States
- Invacare Corporation - United States
- DeVilbiss Healthcare - United States
- Philips Respironics - United States
- Drive DeVilbiss Healthcare - United States
- Medtronic - Ireland
- Nidek Medical Products - Japan
- O2 Concepts - United States
- Teijin Limited - Japan
- Precision Medical - United States
- AirSep Corporation - United States
- Koninklijke Philips N.V. - Netherlands
- GCE Group - United Kingdom
- Hokai Medical Instruments Co., Ltd. - China
- Linde Group - Germany
- BOMImed Inc. - Canada
- Oxygen Care - India
- Longfian Scitech Co., Ltd. - China
- Chart Industries - United States
Recent Developments
-
In February 2023, Chart Industries Inc. the leading manufacturer of liquid natural gas tanks acquired the oxygen concentrator manufacturing company AirSep Corporation, which is both portable and stationary. The apart from independent global leader in field of designing, engineering, and manufacturing of the equipment for engineered use - Chart industries, Inc., was purchased by Airsep for USD 1.1 billion.
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In March 2023, Inogen, Inc. acquired Respironics, Inc. Inogen Inc., a global medical technology leader is one of the companies that offer innovative respiratory solutions for homecare, which purchased a target company for USD 8 billion, the acquisition. Yes, as your example, Respironics, Inc. was one of the largest companies in the world that used to produce home medical equipment such as oxygen concentrators.
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In April 2023, Longfian Scitech Co., Ltd. had a buyout and was acquired by Drive DeVilbiss Healthcare. Manufacturing, Exporting, and Supplying Medical Oxygen Concentrator was our forte. Longfian Scitech Co., Ltd. was leading in all these areas. Drive DeVilbiss Healthcare, that is one of the most prominent brands in the industry of medical equipments, has already acquired the ownership of the company at US$ 1.3 billion.
Medical Oxygen Concentrators & Oxygen Cylinders Key Market Trends
- Shift towards Portable and Home-based Solutions: The creation and use of portable and home-based medical oxygen concentrators has become increasingly popular. With the help of these gadgets, patients can get oxygen therapy at home or on the go with ease and flexibility. Patients who need long-term oxygen therapy due to chronic respiratory disorders will benefit most from this trend. The development of more portable oxygen concentrators that are lightweight, efficient, and compact has been made possible by technological developments.
- Technological Advancements and Innovation: Oxygen concentrators and cylinders are part of the medical equipment business, which has been experiencing constant innovation and technical improvement. The goal of manufacturers is to make these gadgets more user-friendly, durable, and efficient. This includes advancements like improved user interfaces, wireless connectivity for remote monitoring, more energy-efficient concentrators, and better data management system integration. These developments enhance patient care while also advancing improved administration of the healthcare system.
Medical Oxygen Concentrators & Oxygen Cylinders Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global medical oxygen concentrators and oxygen cylinders market is poised for significant growth in the coming years. The increasing prevalence of respiratory diseases, coupled with a rising aging population, drives the demand for these critical medical devices. Technological advancements enhancing device efficiency and portability further contribute to market expansion. Additionally, the ongoing awareness about the importance of adequate healthcare infrastructure, especially in developing regions, will fuel market prospects. As healthcare systems continue to focus on emergency preparedness, the market for medical oxygen concentrators and oxygen cylinders is expected to experience sustained growth, ensuring the availability of life-saving oxygen therapy worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.39 billion |
| Market size value in 2031 | USD 6.59 billion |
| Growth Rate | 4.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Oxygen Concentrators & Oxygen Cylinders Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Oxygen Concentrators & Oxygen Cylinders Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Oxygen Concentrators & Oxygen Cylinders Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Oxygen Concentrators & Oxygen Cylinders Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Oxygen Concentrators & Oxygen Cylinders Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Oxygen Concentrators & Oxygen Cylinders Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Medical Oxygen Concentrators & Oxygen Cylinders Market Report Snapshots
- Global Medical Oxygen Concentrators & Oxygen Cylinders Companies
- Global Medical Oxygen Concentrators & Oxygen Cylinders Market Size
- Global Medical Oxygen Concentrators & Oxygen Cylinders Market Analysis
- Global Medical Oxygen Concentrators & Oxygen Cylinders Geographic Analysis
- Global Medical Oxygen Concentrators & Oxygen Cylinders Market News
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