The global medical oxygen concentrators market size was valued at USD 1.3 billion in 2023 and is projected to reach a value of USD 2.8 billion by 2032, registering a CAGR of 8.9% during the forecast period (2024-2032). The rising frequency of chronic respiratory disorders, as well as the growing elderly population in emerging countries, are driving the medical oxygen concentrators market growth.
Medical oxygen concentrators are vital medical devices that supply concentrated oxygen to those who have respiratory problems or require supplemental oxygen therapy. These devices function by sucking in room air, eliminating nitrogen, and giving pure oxygen to the user. Oxygen concentrators are commonly utilized in various healthcare settings, including hospitals, clinics, and homes.
The medical oxygen concentrators market share is expected to grow in the coming years, owing to increased patients suffering from lung ailments, increased tobacco usage, favorable government regulations, and rising air pollution. The medical oxygen concentrator market is also expanding due to encouraging government programs and a focus on getting these devices to all patients who need them. Oxygen concentrators come in a variety of sizes to meet specific needs. However, the high cost of oxygen concentrators is projected to limit market growth over the forecast period.
The increased prevalence of respiratory disorders, such as chronic obstructive pulmonary disease (COPD), asthma, and respiratory infections, drives up demand for medical oxygen concentrators. These devices help to manage respiratory problems by giving supplemental oxygen. According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) is the third most significant cause of death globally, accounting for 3.23 million deaths in 2019. Low- and middle-income countries account for about 90% of COPD fatalities among people under the age of 70. Tobacco smoking causes more than 70% of COPD cases in high-income nations. Tobacco smoking causes 30-40% of COPD cases in low- and middle-income countries, and household air pollution is a significant risk factor.
Furthermore, according to the American Lung Association, asthma affects 24.8 million Americans, including 5.5 million children. This represents almost one in every twelve people in the United States. Asthma is the most frequent chronic disease in children and a primary noncommunicable disease in both adults and children. It emphasizes the wide range of respiratory disorders that require medical oxygen concentrators. According to research from 2023, India has 55.23 million instances of respiratory lung illness, including chronic obstructive pulmonary disease (COPD), and 35 million cases of asthma. According to the report, one million individuals in India die each year from asthma and COPD as a result of poor air quality and severe pollution.
Moreover, the prevalence of respiratory illnesses is predicted to rise due to air pollution, environmental exposures, and lifestyle changes, driving up demand for respiratory care solutions. The increasing prevalence of respiratory illnesses presents a significant market opportunity for medical oxygen concentrators, as these devices help patients improve their quality of life by delivering a consistent source of supplementary oxygen. The market reacts to the growing demand for effective respiratory care solutions, making medical oxygen concentrators critical to tackling the worldwide health problem faced by respiratory illnesses.
Medical oxygen concentrators, particularly modern models with portability and intelligent technology integration features, typically have a high initial cost. For example, portable oxygen concentrators that cater to busy lifestyles and allow patients to roam freely may be more expensive than fixed types. Portable oxygen concentrators can cost USD 1,495 to USD 3,495. Battery capacity, features, and accessories all have an impact on pricing. Depending on its condition, hours, and warranty, a used device may cost between USD 800 and USD 2,000.
Portable variants provide additional mobility and convenience, although they are typically more expensive. While stationary oxygen concentrators are more cheap, they may still be relatively inexpensive for some individuals or healthcare facilities. In March 2024, a 5-liter oxygen concentrator in India costs approximately Rs.36,000-55,000, while a 10-liter unit costs Rs.70,000-1.20 lakh. Prices for portable oxygen concentrators range from Rs.1.5 lakh to Rs.2.5 lakh, depending on the model. Furthermore, insurance coverage or reimbursement policies may not always cover the cost of acquiring or renting a medical oxygen concentrator, leaving patients with a sizable chunk of the bill. Thus, the high initial costs may impede the widespread adoption of medical oxygen concentrators, particularly in regions or communities with prominent economic constraints.
The penetration of emerging economies and underdeveloped regions with limited access to healthcare resources provides a significant opportunity for growth in the medical oxygen concentrators market. Addressing unmet demands in these regions can boost market penetration and contribute to global market growth. Access to vital healthcare devices remains challenging in many places, particularly in poor countries. Establishing a presence in these areas by providing economical and dependable medical oxygen concentrators can benefit considerably.
In addition, the World Health Organization (WHO) reports that access to healthcare resources varies greatly worldwide. Emerging economies and locations with insufficient healthcare infrastructure frequently need help supplying necessary medical equipment to their inhabitants. Medical oxygen concentrators are challenging to obtain in some African countries due to weak healthcare infrastructure, economic restraints, and logistical problems. The growing awareness of healthcare needs and the relevance of respiratory care in emerging economies drives up demand for medical oxygen concentrators. As healthcare awareness grows in areas with previously limited access to medical resources, there is an increased demand for respiratory care solutions. This demand opens up prospects for market entry and growth.
Moreover, global health organizations and efforts are increasingly focused on reducing healthcare inequities and providing access to critical medical technologies. Organizations such as the Global Fund and UNICEF aim to improve healthcare access in underdeveloped nations, allowing medical oxygen concentrator producers to contribute to these efforts. The Global Fund has announced funding of USD 900 million over the next three years, with 74% invested in African countries.
| Study Period | 2020-2032 | CAGR | 8.9% |
| Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
| Base Year | 2023 | Base Year Market Size | USD 1.3 billion |
| Forecast Year | 2032 | Forecast Year Market Size | USD 2.8 billion |
| Largest Market | North America | Fastest Growing Market | Asia-Pacific |
The global medical oxygen concentrators market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.
North America is the most significant global medical oxygen concentrator market shareholder and is estimated to grow at a CAGR of 8.7% over the forecast period. North America dominates the medical oxygen concentrators industry, driven by increased healthcare awareness and acceptance of sophisticated technologies. In addition to a well-established healthcare system, medical oxygen concentrators have a high penetration and adoption rate. Furthermore, the region's increasing frequency of chronic disorders drives market expansion.
Furthermore, the US population is aging, with the number of those 65 and older increasing roughly five times faster than the overall population between 1920 and 2020. In 2020, the elderly population reached 55.8 million, accounting for 16.8% of the total population of the United States. By 2040, almost one-fifth of Americans will be 65 or older, up from one-eighth in 2000. The growing geriatric population is expected to drive market expansion. Furthermore, significant firms' local presence, high disposable income, and lifestyle changes contribute to the regional market's growth.
Europe is anticipated to exhibit a CAGR of 8.6% over the forecast period because of the increasing frequency of asthma, pulmonary hypertension, and fibrosis. Furthermore, the German market for Medical Oxygen Concentrators had the most significant market share, while the UK market was the fastest expanding in Europe. Furthermore, by July 2023, the prevalence of chronic obstructive pulmonary disease (COPD) in Germany is expected to be between 1.3% and 13.2%. The prevalence is anticipated to rise by 24% in Germany by 2030.
Additionally, the rising frequency of chronic obstructive pulmonary disease, cardiologists' preference for non-surgical therapies, and technological improvements are all pushing the German medical oxygen concentrators market. Furthermore, enhanced healthcare infrastructure, product portfolio growth by key companies, and increased awareness of modern treatment processes will boost the country's market throughout the forecast period.
The Asia-Pacific market for medical oxygen concentrators is predicted to rise significantly during the forecast period, owing to growing pollution levels, increased awareness of technologically sophisticated medical oxygen concentrators, and an increasing elderly population. Furthermore, in July 2022, the United Nations Economic and Social Commission for Asia-Pacific reported 630 million individuals aged 60 and up, representing 60% of the world's elderly.
In addition, it is predicted to reach around 1.3 billion in Asia-Pacific by 2050. Furthermore, the Chinese market for medical oxygen concentrators had the most significant market share, while India's market for medical oxygen concentrators was the fastest expanding in Asia-Pacific.
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The global medical oxygen concentrators market is segmented based on product, technology, and end-user.
The market is further segmented by product into Portable and stationary.
The portable segment held the most significant proportion of the medical oxygen concentrators market. Portable medical oxygen concentrators are intended to give users movement and flexibility in their everyday activities while maintaining a constant supply of therapeutic oxygen. These small, lightweight devices come with rechargeable batteries, allowing users to travel freely without being linked to a stationary power source. Portable concentrators are especially useful for people with active lifestyles who want to remain independent while managing respiratory diseases. They frequently have user-friendly interfaces, different power supply options, and cutting-edge technologies for portable oxygen therapy. Portable concentrators are a popular solution for people who require oxygen therapy outside their homes, encouraging a more active and engaged lifestyle.
Station medical oxygen concentrators are intended for use in specific areas such as homes, healthcare facilities, or other fixed settings. These devices are often larger and more powerful than portable models, providing a consistent and dependable source of concentrated oxygen. Stationary concentrators are ideal for patients who primarily receive oxygen therapy in certain places, as they offer higher flow rates and longer running hours than portable ones. They are frequently outfitted with user-friendly controls, alarms to monitor device operation, and effective air filter systems. Stationary concentrators are essential in home healthcare because they provide consistent oxygen delivery for patients with chronic respiratory diseases who spend much time in a particular setting.
The market can be further bifurcated with technology into continuous and pulse flow.
The continuous flow segment is predicted to have the most significant market share in 2023, owing to an expanding geriatric population and bedridden patients, and it is less expensive than pulse flow technology. Continuous flow medical oxygen concentrators provide a consistent and steady oxygen flow to the user, as measured in liters per minute. These devices are appropriate for patients who require a regular and uninterrupted supply of oxygen, particularly during activities requiring a constant flow rate. Continuous flow concentrators are often used for people who need more oxygen, such as those with severe chronic respiratory diseases. They deliver oxygen steadily throughout the respiratory cycle, ensuring that patients receive the recommended amount of oxygen during inhalation and exhalation.
Pulse flow medical oxygen concentrators, or demand flow or intermittent flow concentrators, provide oxygen in pulses or bursts during the inhalation part of the respiratory cycle. These gadgets are designed to detect the user's breathing patterns and only provide oxygen when inhalation is detected. Pulse flow technology benefits people who demand less oxygen during rest or modest activities. Pulse flow concentrators are noted for their energy efficiency, as they conserve oxygen by supplying it precisely when required, making them ideal for portable and battery-powered devices.
Based on end-users, the market is fragmented into Home Care Settings, Hospitals, and Ambulatory Surgical Centers.
Home Care Settings held the most significant proportion of the medical oxygen concentrators market. Home care settings constitute a prominent component of the medical oxygen concentrator market, catering to people who get oxygen therapy in the comfort of their own homes. Home care settings provide a more familiar and less clinical environment for patients with chronic respiratory disorders, allowing them to incorporate oxygen therapy into their regular activities. Medical oxygen concentrators intended for home use are frequently tiny, user-friendly, and outfitted with features that improve patient comfort. These devices provide a consistent source of oxygen for patients who require long-term oxygen therapy, allowing them to control their respiratory problems and improve their quality of life without frequent hospital visits.
This market's substantial share can be due to the increased use of these devices among the elderly and chronically ill patients. These devices provide features such as customization based on patient needs, making them more convenient for patients at home. They are expected to increase the use of medical oxygen concentrators in home care settings over the projection period.
Hospitals play an essential role in the medical oxygen concentrator market, particularly for patients with acute respiratory disorders or who require intensive care. Medical oxygen concentrators are integrated into hospital respiratory care infrastructure to provide patients with a continuous and controlled oxygen supply in various departments, including emergency rooms, intensive care units, and general wards. Stationary concentrators with higher flow rates are frequently employed in hospitals to satisfy the multiple needs of patients with varying degrees of oxygen dependency. Concentrators are also used in hospitals for patient recovery, surgical procedures, and other situations when a steady oxygen supply is required for critical care.
With the rapid spread of the COVID-19 virus across the globe, the need for essential medical devices/equipment is also increasing. The COVID-19 infection is measured based on oxygen levels in the bloodstream and is characterized as normal to severe and even life-threatening. So, the need for oxygen support devices like ventilators, oxygen concentrators, etc., is rising day by day with the increasing number of cases of COVID-19 patients across the globe. Breathlessness is a major issue with the patients suffering from COVID-19, thus requiring an oxygen concentrator device.
As per the American Journal of Tropical Medicine and Hygiene (ASTMH), the symptoms start arising within 7-10 days of illness. The current treatment for severe COVID-19 depends majorly on providing the best possible oxygen supportive care. Patients infected with the COVID-19 virus may suffer from mild to severe symptoms.
With hospitals being overcrowded and the lack of ventilators' availability in underprivileged settings is a challenge, oxygen concentrators are proving to be helpful in such situations. As most cases are patients with mild symptoms who don't require ventilator support, breathing therapy by oxygen concentrator helps stabilize the health of the patient. Thus, it is contributing to the medical oxygen concentrators market growth.
