Oxygen Concentrators Market, By Modality [Portable and Stationary), By Technology (Pulse Flow and Continuous flow), By End User (Hospital, Home Care and Ambulatory Surgical Centers), and By Geography (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Sep 2023

Code : CMI198

Pages :178

Formats :

Excel and PDF

Industry : Medical Devices

Oxygen Concentrators MarketSize and Trends

The global oxygen concentrators market is estimated to be valued at US$ 2.18 Billion in 2023 and is expected to exhibit a CAGR of 9.4% during the forecast period (2023-2030).

Global Oxygen Concentrators Market– Drivers

Increasing organic strategies such as regulatory authority milestone: Increasing organic strategies, such as regulatory authority milestones, are expected to propel the growth of the global oxygen concentrators market over the forecast period. For instance, on January 10, 2023, Inogen, Inc., one of the medical technology company offering innovative respiratory products for use in the homecare setting, announced that it had passed regulatory milestones in the U.S. and Europe to support its line of portable oxygen concentrator solutions. Inogen acquired approval under the European Medical Device Regulation (EU MDR) from its notified authority, the British Standards Institution (BSI), in December 2022, allowing it to sell and market the Inogen One G4 and the improved Inogen One G5 portable oxygen concentrators in the EU.
Increasing prevalence of chronic respiratory diseases: The increasing prevalence of chronic respiratory diseases is expected to increase the demand for oxygen concentrators, thereby driving the global oxygen concentrators market’s growth. For instance, on April 25, 2023, the Institute of Health Metrics and Evaluation published data according to which the prevalence of chronic respiratory diseases in 2019 was 454.6 Billion cases globally. While the prevalence of chronic respiratory diseases has increased by 39.8% from 1990 to 2019. Hence, this is expected to fuel the oxygen concentrators markets growth over the forecast period.

Market Trends:

Introduction of oxygen concentrators with advanced technology: The introduction of oxygen concentrators with advanced technology in the market is expected to drive growth of the global oxygen concentrators market over the forecast period. For instance, on July 19, 2023, VARON, one of the leading oxygen concentrator manufacturer, announced the launch of a new member of the VP series, the VP-2, a portable oxygen concentrator that incorporates innovative technology and advanced features. The VP-2 has user-friendly controls, a replaceable battery, and additionally a dual oxygen supply mode to traditional pulse flow oxygen supply when no inhalation is detected, which automatically releases oxygen every 3 seconds.