Global Portable Oxygen Concentrators Market

Global Portable Oxygen Concentrators Market Size, Share, Growth Analysis, By Application(Chronic Obstructive Pulmonary Disease, Asthma), By Technology(Continuous Flow and Pulse Flow) - Industry Forecast 2023-2030


Report ID: SQMIG35E2042 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 61 | Figures: 76

Global Portable Oxygen Concentrators Market Insights

Global Portable Oxygen Concentrators Market size was valued at USD 1.47 billion in 2021 and is poised to grow from USD 1.59 billion in 2022 to USD 2.82 billion by 2030, at a CAGR of 8.5% during the forecast period (2023-2030).

The portable oxygen concentrators market has witnessed significant growth in recent years and is projected to continue growing. Factors driving market growth include the rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and the increasing geriatric population prone to respiratory ailments.

Additionally, advancements in technology, improved portability, and convenience offered by portable oxygen concentrators contribute to market expansion. Portable oxygen concentrators (POCs) offer the advantage of being smaller and more portable compared to traditional homecare oxygen concentrators.

This portability enables patients to easily carry the devices and maintain their mobility while receiving necessary oxygen therapy. POCs are not only used by patients but also find application among mountaineers and travelers who venture into areas with limited oxygen availability. The increasing prevalence of respiratory diseases, particularly chronic obstructive pulmonary disease (COPD), is expected to drive the global market for portable oxygen concentrators.

According to the World Health Organization (WHO), COPD remains the third leading cause of death worldwide, with approximately 3.23 million deaths attributed to the disease. Patients suffering from COPD often require oxygen therapy to improve oxygen levels in their blood and enhance organ oxygenation.

This growing population of COPD patients fuels the demand for portable oxygen concentrators, as they offer a convenient solution for delivering oxygen therapy. As a result, the sales of portable oxygen concentrators are projected to experience substantial growth during the forecast period.

Market snapshot - 2023-2030

Global Market Size

USD 1.47 billion

Largest Segment

Continuous Flow

Fastest Growth

Continuous Flow

Growth Rate

8.5% CAGR

Global Portable Oxgen Concentrators Market ($ Bn)
Country Share for North America Region (%)
Global Portable Oxgen Concentrators Market By Technology ($ Bn)
Global Portable Oxgen Concentrators Market By Technology (%)

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Global Portable Oxygen Concentrators Market Segmental Analysis

The global portable oxygen concentrators market is segmented on the technology, application, end user and region. By technology, the market is segmented into continuous flow and pulse flow. By application, the market is segmented into chronic obstructive pulmonary disease, asthma, respiratory distress syndrome. By end user, the market is segmented into hospitals and homecare settings. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by End User

In 2022, home care had the biggest market share globally, at 60%. In industrialized countries, home therapy is becoming more common, and this is helping to drive up market share and income. A wide range of concentrators are also easily accessible for use in home treatment. Additionally, a sizable geriatric population in nations like Germany, Japan, Italy, Monaco, Austria, and others is anticipated to further fuel market expansion throughout the anticipated time frame. The expansion of medical oxygen concentrator insurance coverage in many nations is another factor driving the market's expansion.

The segment is growing as a result of hospitals and clinics using oxygen therapy more frequently. At a CAGR of 3.8% over the projection period, the segment is expected to expand. Growth in the segment is also being driven by the growing use of oxygen therapy for hospitalized patients.

Analysis by Technology

The global portable oxygen concentrators market is dominated by the continuous flow technology segment. This segment is expected to grow at a CAGR of 8.5% from 2023 to 2030. The continuous flow technology is more efficient than the pulse dose technology, and it is also more suitable for people with severe respiratory diseases.

The fastest-growing segment of the global portable oxygen concentrators market is the pulse flow segment. This segment is expected to grow at a CAGR of 9.5% from 2023 to 2030. The pulse flow segment is being driven by the increasing prevalence of chronic respiratory diseases, and the rising demand for portable oxygen concentrators from home healthcare settings.

Global Portable Oxgen Concentrators Market By Technology, 2021 (%)

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Global Portable Oxygen Concentrators Market Regional Insights

At 37.1% of the global market's revenue in 2022, North America had the largest revenue share. The presence of big businesses like Imogen, Invacare, and others, as well as the accessibility of a wide range of products, are credited with this. The leading share is also attributable to government initiatives like the Federal Aviation Administration (FAA)'s permission of the use of portable oxygen concentrators during air travel, as well as the rising incidence of respiratory disorders like COPD.

Europe is expected to be a growing market. The region's growth is being driven by the rising elderly population. The demand for oxygen treatment goods has also increased as a result of the longer life expectancy of European residents. This is because the geriatric population is more susceptible to breathing issues and depends on oxygen therapy products to breathe properly. For instance, the proportion of people in the European Union who are 80 years or older is expected to rise from 5.9% to 14.6% between 2020 and 2100, according to Eurostat. This is anticipated to fuel the local demand for portable oxygen concentrators.

Global Portable Oxgen Concentrators Market By Geography, 2023-2030
  • Largest
  • Fastest

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Global Portable Oxygen Concentrators Market Dynamics

Drivers

Government Initiatives And Reimbursement Policies

  • Governments in various countries have taken initiatives to support the use of portable oxygen concentrators. They have implemented reimbursement policies and provided subsidies for respiratory care devices, making them more accessible and affordable for patients. These supportive measures have positively impacted the market growth.
  • Growing awareness about the benefits of portable oxygen concentrators among patients and healthcare professionals has significantly contributed to market growth. Information dissemination through various channels, including digital platforms and medical conferences, has increased the visibility of these devices, leading to higher adoption rates.

Restraints

Regulatory Requirements

  • Portable oxygen concentrators are medical devices and are subject to regulatory approval in different countries. The regulatory process can be time-consuming and costly, requiring manufacturers to meet specific standards and demonstrate the safety and efficacy of their products. These regulatory requirements can create barriers for new entrants in the market, limiting competition and potentially slowing down innovation.

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Global Portable Oxygen Concentrators Market Competitive Landscape

To broaden their product portfolio and geographic reach, market participants are implementing a variety of methods, including alliances, collaborations, mergers and acquisitions, and product creation.

Top Player’s Company Profiles

  • Chart Industries, Inc. (United States)
  • Drive DeVilbiss Healthcare (United States)
  • Nidek Medical Products, Inc. (Japan)
  • Precision Medical, Inc. (United States)
  • ResMed Inc. (United States)
  • Besco Medical Co., Ltd. (China)
  • Inova Labs Inc. (United States)
  • GCE Group (Sweden)
  • O2 Concepts LLC (United States)
  • Nuvectra Medical (United States)
  • AirSep Corporation (United States)
  • Teijin Limited (Japan)
  • Smith’s Group plc (United Kingdom)
  • Getinge AB (Sweden)
  • Longfian Scitech Co., Ltd. (China)
  • Applied Home Healthcare Equipment (United States)
  • Intersurgical Ltd. (United Kingdom)
  • Beijing North Star Company Limited (China)

Recent Developments

  • In March 2023, Philips Respironics launched the SimplyGo Mini portable oxygen concentrator. The SimplyGo Mini is a small and portable concentrator that is designed to be used by people with COPD and other respiratory diseases.
  • In February 2023, Respironics announced the launch of the SimplyGo portable oxygen concentrator. The SimplyGo is a small and portable concentrator that is designed to be used by people with COPD and other respiratory diseases.
  • In January 2023, Invacare Corporation launched the EverGO portable oxygen concentrator. The EverGO is a lightweight and portable concentrator that is designed to be used by people with COPD and other respiratory diseases.

Global Portable Oxygen Concentrators Key Market Trends

Increasing Prevalence Of Respiratory Diseases

  • The rising prevalence of chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea is a major driving factor for the portable oxygen concentrators market. These devices are crucial in managing the oxygen needs of patients with respiratory conditions, thereby improving their quality of life.

Global Portable Oxygen Concentrators Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by smeans of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analyses, the global portable oxygen concentrators market has experienced significant growth and is poised for further expansion in the coming years. Factors such as the increasing prevalence of respiratory diseases, a growing elderly population, and advancements in technology have contributed to the market's growth. Portable oxygen concentrators are increasingly being preferred over traditional oxygen cylinders due to their portability, continuous oxygen supply, and convenience. The trend towards home healthcare, rising awareness about oxygen therapy, and strategic collaborations among key players are also driving market growth. Emerging markets offer significant opportunities for market expansion. With ongoing innovations and research, the global portable oxygen concentrators market is expected to continue its upward trajectory, providing improved respiratory care and enhancing the quality of life for patients worldwide.

Report Metric Details
Market size value in 2021 USD 1.47 billion
Market size value in 2030 USD 2.82 billion
Growth Rate 8.5%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Chronic Obstructive Pulmonary Disease, Asthma, Respiratory Distress Syndrome
  • Technology
    • Continuous Flow and Pulse Flow
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
  • Chart Industries, Inc. (United States)
  • Drive DeVilbiss Healthcare (United States)
  • Nidek Medical Products, Inc. (Japan)
  • Precision Medical, Inc. (United States)
  • ResMed Inc. (United States)
  • Besco Medical Co., Ltd. (China)
  • Inova Labs Inc. (United States)
  • GCE Group (Sweden)
  • O2 Concepts LLC (United States)
  • Nuvectra Medical (United States)
  • AirSep Corporation (United States)
  • Teijin Limited (Japan)
  • Smith’s Group plc (United Kingdom)
  • Getinge AB (Sweden)
  • Longfian Scitech Co., Ltd. (China)
  • Applied Home Healthcare Equipment (United States)
  • Intersurgical Ltd. (United Kingdom)
  • Beijing North Star Company Limited (China)
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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 Global 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
  • 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 Global 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
  • 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
  • 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(%)

Methodology

For the Global 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 Global 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 Global 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 Global 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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FAQ's

Global Portable Oxygen Concentrators Market size was valued at USD 1.47 billion in 2021 and is poised to grow from USD 1.59 billion in 2022 to USD 2.82 billion by 2030, at a CAGR of 8.5% during the forecast period (2023-2030).

To broaden their product portfolio and geographic reach, market participants are implementing a variety of methods, including alliances, collaborations, mergers and acquisitions, and product creation. 'Inogen (United States)', 'Philips Healthcare (Netherlands)', 'Invacare Corporation (United States)', 'Chart Industries, Inc. (United States)', 'Drive DeVilbiss Healthcare (United States)', 'Nidek Medical Products, Inc. (Japan)', 'Precision Medical, Inc. (United States)', 'ResMed Inc. (United States)', 'Besco Medical Co., Ltd. (China)', 'Inova Labs Inc. (United States)', 'GCE Group (Sweden)', 'O2 Concepts LLC (United States)', 'Nuvectra Medical (United States)', 'AirSep Corporation (United States)', 'Teijin Limited (Japan)', 'Smith’s Group plc (United Kingdom)', 'Getinge AB (Sweden)', 'Longfian Scitech Co., Ltd. (China)', 'Applied Home Healthcare Equipment (United States)', 'Intersurgical Ltd. (United Kingdom)', 'Beijing North Star Company Limited (China)'

Governments in various countries have taken initiatives to support the use of portable oxygen concentrators. They have implemented reimbursement policies and provided subsidies for respiratory care devices, making them more accessible and affordable for patients. These supportive measures have positively impacted the market growth.

The rising prevalence of chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea is a major driving factor for the portable oxygen concentrators market. These devices are crucial in managing the oxygen needs of patients with respiratory conditions, thereby improving their quality of life.

At 37.1% of the global market's revenue in 2022, North America had the largest revenue share. The presence of big businesses like Imogen, Invacare, and others, as well as the accessibility of a wide range of products, are credited with this. The leading share is also attributable to government initiatives like the Federal Aviation Administration (FAA)'s permission of the use of portable oxygen concentrators during air travel, as well as the rising incidence of respiratory disorders like COPD.

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Global Portable Oxygen Concentrators Market

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