Portable Oxygen Concentrators Market Size, Share, Growth Analysis, By Application(Chronic Obstructive Pulmonary Disease, Asthma), By Technology(Continuous Flow and Pulse Flow) - Industry Forecast 2024-2031

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.