Homecare Oxygen Concentrators Market Size, Share, Growth Analysis, By Product(Portable oxygen concentrators, Fixed oxygen concentrators), By Technology(Continuous flow, Pulse flow) - Industry Forecast 2024-2031

Homecare Oxygen Concentrators Market size was valued at USD 1.61 billion in 2022 and is poised to grow from USD 1.73 billion in 2023 to USD 3.09 billion by 2031, growing at a CAGR of 7.50% during the forecast period (2024-2031).

The competitive landscape of the homecare oxygen concentrators market is marked by intense rivalry among key players striving to capture a significant share of the expanding market. Prominent companies like Inogen, Philips Healthcare, and Invacare Corporation stand at the forefront, leveraging their technological prowess and robust market presence to offer comprehensive homecare oxygen concentrator solutions. These industry leaders continually innovate to enhance device efficiency, portability, and user-friendliness, setting a high bar for the industry. 'Inogen, Inc. (USA)', 'Philips Healthcare (Netherlands)', 'Invacare Corporation (USA)', 'ResMed Inc. (USA)', 'Drive DeVilbiss Healthcare (USA)', 'Chart Industries, Inc. (USA)', 'GCE Group (Sweden)', 'Nidek Medical Products, Inc. (Japan)', 'Precision Medical, Inc. (USA)', 'O2 Concepts, LLC (USA)', 'Longfian Scitech Co., Ltd. (China)', 'AirSep Corporation (USA)', 'Medtronic plc (Ireland)', 'Teijin Limited (Japan)', 'Foshan Keyhub Electronic Industries Co., Ltd. (China)', 'Besco Medical Co., Ltd. (South Korea)', 'CAIRE Inc. (USA)', 'GF Health Products, Inc. (USA)', 'Inova Labs Inc. (USA)', 'Haiyang Kangyou Medical Instruments Co., Ltd. (China)'

Patients and healthcare systems are increasingly favoring home-based care due to convenience, reduced hospital stays, and the current emphasis on avoiding crowded healthcare facilities, driving the demand for homecare oxygen concentrators.

Rising Aging Population: The population is aging, leading to an increased prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and other conditions that require oxygen therapy. This drives the demand for homecare oxygen concentrators as a convenient and cost-effective solution for managing these conditions at home.

North America holds a substantial market share owing to its advanced healthcare infrastructure, increasing geriatric population, and high prevalence of respiratory disorders. The region's technological advancements and supportive reimbursement policies further bolster market growth.