USD 1.47 billion
Portable Oxygen Concentrators Market Size, Share, Growth Analysis, By Delivery System(Continuous Flow, Pulse Flow), By Application(Copd, Asthma, Respiratory Distress Syndrome, and Others), By End User(Hospitals, Homecare Settings, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35E2042 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
61
|Figures:
76
Portable Oxygen Concentrators Market Insights
Global Portable Oxygen Concentrators Market size was valued at around USD 306.9 million in 2022 and is expected to rise from USD 344.5 million in 2023 to reach a value of USD 788.2 million by 2031, at a CAGR of 10.9% over the forecast period (2024–2031).
Portable oxygen inverters can be used by those that need supplemental oxygen that contains higher quantities of co2 than what the air around them contains. They are used particularly for the emergency treatment of individuals with respiratory diseases like obstructive pulmonary disease. Comparison to home healthcare oxygen inverters, portable gas concentrators were small devices, thus easier for the user to carry about. Besides, mountain climbers and tourists use POCs in places deprived of oxygen, next to physicians. This will lead to an increase in the global demand for portable oxygen concentrators, as more individuals develop conditions such as chronic obstructive pulmonary disease around the world. Chronic obstructive pulmonary disorder remains the third leading cause of death in the world today with over 3.33 million deaths attributed to this disease according to the World Health Organization (WHO).
Persons suffering from this condition require supplemental oxygen to increase the concentration of oxygen in their blood and thus help in proper functioning of tissues. Thus, the portable gas extractors will see a healthy growth in their sales, throughout the portable oxygen concentrators market forecast period. These portable gas concentrators are also utilized in non-pressurized aircraft, the glass-blowing business, and the skin care industry.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Continuous Flow
Fastest Growth
Continuous Flow
Growth Rate
8.5% CAGR
Global Portable Oxygen Concentrators Market ($ Bn)
Country Share for North America Region (%)
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Portable Oxygen Concentrators Market Segmental Analysis
Global Portable Oxygen Concentrators Market is segmented by Delivery System, Application, End User, and region. Based on Delivery System, the market is segmented into Continuous Flow, Pulse Flow. Based on Application, the market is segmented into Copd, Asthma, Respiratory Distress Syndrome, and Others. Based on End User, the market is segmented into Hospitals, Homecare Settings, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Delivery System
Based on delivery system, the pulse flow segment is dominating the market with the largest portable oxygen concentrators market share. This is because the system is more efficient and offers better battery time with the device. Patients have also adopted pulse flow portable oxygen concentrators (PPOCs) for similar reasons, since these devices are easier to carry, dependable, and can deliver oxygen on-demand. Pulse flow portable oxygen concentrators do not waste oxygen and come in smaller sizes. This segment is likely to grow rapidly in the next several years due to its lower operation cost and ease of usage. U.S. Census Bureau estimates indicate that the number of geriatric populations will reach 80 million by 2050. Hence, the demand for pulse flow portable oxygen concentrators in the country will be significantly high during the forecast period. Pulse flow devices are ideal in treating elderly patients who have trouble breathing and require supplemental oxygen.
The continuous flow category is witnessing the fastest growth in the portable oxygen concentrators market. The widespread distribution of continuous flow oxygenation extractors, rapid technological development, and growing number of patients with chronic respiratory disorders, are some factors that are responsible for the growth of the market. Controlled release technology should be used in patients with poor physical activity, those who needed less than 5 LPM of oxygen and those patients who are mouth breathers. Furthermore, continuous flow oxygen extractors could also be used with CPAP and BiPAP machines. The adoption of continuous flow segment is growing owing to increasing use of CPAP and BiPAP devices along with oxygen extractors by patients suffering from obstructive sleep patients.
Analysis by End User
Based on end user, the homecare setting is dominating the portable oxygen concentrators market. Portable oxygen concentrators are increasingly used for home-based oxygen therapy at lower cost than institutionalized care settings. It reduces healthcare costs for the patient and healthcare systems by minimizing hospital admissions, emergency room visits, and the need for caregiver support by providing services in homecare settings. Patients receiving care in homecare settings have a better quality of life than those in institutionalized care settings such as hospitals or long-term care facilities. Patients can lead their lives, perform daily tasks and stay connected with their family and society, while receiving the necessary medical treatment such as oxygen therapy.
The ambulatory surgery centers are experiencing tremendous growth and popularity in recent years, attributed to the multitude of benefits they provide. ASCs are a more affordable option than inpatient hospital stays and allow patients to receive surgical procedures in a more convenient and pleasant environment. The growing prevalence of ASCs worldwide drives the demand for POCs, as they have more customers to serve. In addition to this, a wide variety of surgeries performed in ASCs necessitate supplemental oxygen be used to maintain safety and comfort of the patient. Portable oxygen concentrators (POCs) are the most common in oxygen therapy in ASCs because of their portability, easy to use and extremely convenient.
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Portable Oxygen Concentrators Market Regional Insights
North America is dominating with the largest portable oxygen concentrators market share. This is because diseases like respiratory diseases, including chronic obstructive pulmonary disease (COPD), asthma and other lung-related problems are among the most common in the region. Respiratory conditions are common in the region due to the relatively aged population and changing environmental and lifestyle. The increasing prevalence of these diseases are growing the demand for POCs among patient requiring oxygen therapy. In addition, the region has a strong healthcare infrastructure, with modern medical facilities, a well-established healthcare system, and high investment in healthcare R&D. Advanced hospitals, clinics and ambulatory surgery centers provide a conducive environment for adopting POCs. The region has a number of major players in the healthcare and medical device industry, creating a research and development culture.
The Asia-Pacific market is witnessing the fastest growth in the portable oxygen concentrators market. This rapid growth is primarily due to the increasing disposable income within the country, rise in amount of cigarette smoke and tobacco use, and an increase in COPD patient. Furthermore, the modernization of health care infrastructure and increased level of awareness and acknowledgment for such innovative portable gas extractors is also driving the market growth in the region. Moreover, it is expected that the increasing population of elderly population in the Asia Pacific, will fuel the market for portable gas generator of the region. In China the increase in health expenditure is a result of faster growth of government infrastructure, urbanization, and economic growth. With the rise in health-care spending and availability of advanced health-care services in China, patients have easy access to concentrators and other medical devices.
Global Portable Oxygen Concentrators Market By Geography
- Largest
- Fastest
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Portable Oxygen Concentrators Market Dynamics
Drivers
Increasing Prevalence of COPD Patients
-
The portable oxygen concentrators industry is witnessing immense growth in the emerging economies due to increasing disposable income and growing incidences of chronic diseases. This is especially true in countries like India and China, where there is a rise in patients suffering from chronic obstructive pulmonary disorder, resulting in the high demand for POCs. Furthermore, during the forecast period, growth of the market is expected to be aided by companies investing in the production of portable pulse and continuous-flow oxygen suckers.
Increasing Prevalence of Respiratory Diseases
-
A rise in people with respiratory diseases including lung cancer, asthma, pulmonary fibrosis, and flu is increasing the development of effective oxygen therapy products. POCs provide a portable and easy-to-use means of providing oxygen therapy to patients who need it, allowing them to maintain their health-related quality of life. The increase in respiratory diseases is directly creating high demand for POCs in the market. Also, POC allows healthcare providers to provide treatment outside of the hospital, such as oxygen therapy at home, thus lessening the stress on the healthcare facilities. POCs are also relatively inexpensive as there is no need for regular and local cylinder refilling or stationary concentrator upkeep.
Restraints
Stringent Government Rules and Reimbursement Procedures
-
The expensive price of the product is the main obstacle preventing the widespread use of portable gas extractors. Due to limited disposable cash and a higher price of the product than in wealthy nations, POC acceptance is limited in emerging economies. Additionally, the market expansion for portable gas extractors is being hampered by the strict restrictions and reimbursement guidelines.
Lack of Knowledge and Education
- Patients and healthcare professionals may not be completely aware of the availability, capabilities, and advantages of portable oxygen concentrators when compared to more conventional oxygen therapy techniques. Even though there are many benefits to these devices many people are not aware of it. This lack of outreach and education initiatives can reduce the demand for POCs and impede market expansion.
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Portable Oxygen Concentrators Market Competitive Landscape
he competitive landscape of the portable oxygen concentrators industry can be characterized by the presence of several key players competing to gain market share. These companies work to innovate their products, widen distribution channels, and even provide after-sales services. In recent time, the dominant players are spending on research and development (R&D) activities to procure advanced product variants. They have also created a POC model line for at-home and travel use. In addition, several top market players are partnering up and indiscriminately indulging in mergers and acquisitions (M&As) to strengthen their market presence and establish an edge over their competitors in the market.
Top Player’s Company Profiles
- Inogen
- Philips Respironics
- ResMed
- OxyGo
- AirSep
- Caire Inc.
- Drive Medical
- GCE Healthcare
- ConvaTec
- Invacare
- Nidek Medical
- ScottCare
- Oxygent
- VitalAire
- AeroVent
- Graham-Field Health Products
- Linde Healthcare
- Medi-Rent
- American Medical Technologies
- SOMNOMED
Recent Developments
- In July 2023, VARON a major supplier of oxygen concentrators unveiled VP2 in the portable oxygen concentrator range. This device introduces new technology and gives sophisticated features ensuring effective and dependable supply of oxygen to patients.
- In January 2023, Invacare Corporation has introduced the EverGO portable oxygen concentrator. EverGO is a small portable concentrator developed for patients with COPD or other respiratory disease.
- In March 2022, GRS India in collaboration with Northeast Centre for Technology Application and Reach (NECTAR) announced field-portable small bag pack emergency oxygen concentrator, Oxygen Plus. This product is ideal for straightforward transport in hilly areas inside Northeast India.
Portable Oxygen Concentrators Key Market Trends
- Increasing Preference for Home-Based Medical Care: Home-based medical care emphasizes the need for portable medical devices that enable patients to receive treatment without being confined to a hospital or clinic. POCs align with this requirement by providing a convenient and lightweight solution for delivering oxygen therapy at home. As a result, the growing preference for home-based care is escalating the demand for portable oxygen concentrators.
- Rising Preference for Non-Invasive Therapy: The preference for non-invasive therapy alternatives is increasing among patients. This is because they can avoid the discomfort and inconvenience that come with using stationary concentrators or oxygen tanks, which are traditional forms of oxygen therapy. Portable oxygen concentrators are gaining popularity in the current market, as they offer a portable and noninvasive.
Portable Oxygen Concentrators Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, pneumonia, pulmonary fibrosis, and tuberculosis (TB) have increased the popularity for portable oxygen concentrators. High demand for portable oxygen concentrators from the increasing geriatric population who are at higher risk of having these chronic respiratory diseases, is one of the major factors driving the portable oxygen concentrators market. The home healthcare solutions helped avoid hospitalizations and prevent respiratory complication by allowing medical oxygen to be administered in homecare and institutionalized care settings. Additionally, health care spending and insurance coverage have contributed greatly to the market expansion. In addition, increasing popularity and preference for portable oxygen concentrators over stationary concentrators is another factor expected to support the growth of portable oxygen concentrators industry. The adoption of telemedicine, remote patient monitoring and mobile health apps is also spurring the portable oxygen concentrator market on the healthcare front.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 306.9 million |
| Market size value in 2031 | USD 788.2 million |
| Growth Rate | 10.9% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Million |
| 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 |
|
| 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 Portable Oxygen Concentrators 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 Portable Oxygen Concentrators 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 Portable Oxygen Concentrators 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 Portable Oxygen Concentrators 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 Portable Oxygen Concentrators Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Portable Oxygen Concentrators 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.
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