Oxygen Concentrator Market To Reach $8.31 Billion By 2033

Oxygen Concentrator Market Growth & Trends

The global oxygen concentrator market size is expected to reach USD 8.31 billion by 2033, registering a CAGR of 6.4% from 2025 to 2033, according to a new report by Grand View Research, Inc. The market growth is driven by several factors, including increasing incidence of respiratory diseases, introduction of advanced product offerings, expanding business operations, and a growing preference for home-based oxygen therapy. For instance, in October 2022, O2 Concepts launched Oxlife Liberty, a cutting-edge technology set to transform the oxygen therapy landscape. This demonstrates the industry's commitment to innovation. In addition, the market is expected to benefit from rising demand for portable oxygen concentrators due to a growing preference for home-based oxygen therapy. This trend is projected to fuel market growth from 2024 to 2030.

Rising government support, such as funding and initiatives for the development of healthcare infrastructure is anticipated to drive the demand for technologically advanced and cost-efficient devices over the forecast period. In addition, integration of Internet of Things (IoT) technology into oxygen concentrators has transformed the medical device industry, offering several advantages over traditional methods. By allowing for remote monitoring and management, IoT-enabled oxygen concentrators enable healthcare providers to monitor patients' oxygen levels in real-time and adjust the flow rate, leading to improved patient outcomes. This is expected to impel the market growth from 2024 to 2030.

Furthermore, prominent players in the industry, including Inogen, Inc., Respironics (a subsidiary of Koninklijke Philips N.V.), and Caire Medical (a subsidiary of NGK Spark Plug), are employing various strategies such as acquisitions, collaborations, expansions, and new product launches to extend the availability and geographical reach of their product offerings. For instance, in February 2023, React Health, a specialist in medical device development, manufacturing, and distribution, successfully acquired Invacare's Respiratory line. This strategic acquisition enhances React Health's market position, expands its product portfolio, and enables it to serve a wider range of customers.

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Oxygen Concentrator Market Report Highlights

• Based on product, fixed medical oxygen concentrators segment held the largest revenue share of over 54.1% in 2024, owing to its increasing demand among patients suffering from breathing problems

• Based on technology, continuous flow segment held the largest revenue share of over 54.9% in 2024. This is attributed to the growing prevalence of long-term respiratory disorders such as asthma, COPD, bronchiectasis, and chronic sinusitis

• The home care segment held the largest revenue share in 2024. Technological advancements and the adoption of home therapy in developed countries contribute significantly to the market's revenue share.

• North America dominated the global market with a market share of over 41.0% in 2024, owing to the presence of advanced healthcare infrastructure, high investment in R&D, availability of the latest technologies, and product launches

Oxygen Concentrator Market Segmentation

Grand View Research has segmented the global oxygen concentrator market based on product, application, technology, region:

Oxygen ConcentratorProducts Outlook (Unit Volume, 000'; Revenue, USD Million, 2021 - 2033)

• Portable Oxygen Concentrators

  • New Purchase

  • Rentals

• Fixed Oxygen Concentrators

  • New Purchase

  • Rentals

Oxygen ConcentratorApplication Outlook (Unit Volume, 000'; Revenue, USD Million, 2021 - 2033)

• Home Care

• Non- Home Care

Oxygen ConcentratorTechnology Outlook (Unit Volume, 000'; Revenue, USD Million, 2021 - 2033)

• Continuous Flow

• Pulse Flow

Oxygen ConcentratorRegional Outlook (Unit Volume, 000'; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Denmark

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players Oxygen Concentrator Market

• Respironics (a subsidiary of Koninklijke Philips N.V.) {Effective from January 25, 2024, Philips Respironics halted the sale of their POCs, with end of service scheduled for January 25, 2029.}

• GF Health Products, Inc.

• MedaCure Inc.

• Nidek Medical Products, Inc

• O2 Concepts

• React Health

• CAIRE Inc. (Acquired by Niterra Co., Ltd., formerly known as NGK SPARK PLUG CO., LTD.)

• DeVilbiss Healthcare (a subsidiary of Drive Medical)

• GCE Group

• Compass Health Brands

• Inogen, Inc.

• Belluscura

• Hoyo Scitech Co., Ltd.

• BPL Medical Technologies

• XNUO INTERNATIONAL GROUP (USA) HOLDING

• Teijin Limited

• BESCO MEDICAL LIMITED

• Oxymed India

• KALSTEIN FRANCE

• Foshan Keyhub Electronic Industries Co., Ltd