Medical Oxygen Concentrators Market Size, Share & Trends Report

Medical Oxygen Concentrators Market Size, Share & Trends Analysis Report By Product (Portable, Stationary), By Application (Non-homecare, Homecare), By Technology (Pulse Dose, Continuous Flow), And Segment Forecasts, 2019 - 2025

  • Published Date: Apr, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-457-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 101

Industry Insights

The global medical oxygen concentrators market size was valued at USD 1.75 billion in 2018 and is anticipated to expand at a CAGR of 7.4% over the forecast period. Increasing prevalence of Chronic Obstructive Pulmonary Disease (COPD) and technological advancements are the key factors driving this market. According to the data published by the WHO, globally there were 251 million cases of COPD in 2016 and 3.17 million deaths due the same in the last year.

Furthermore, 90% of these deaths were reported in middle-income countries due to high levels of air pollution and rising number of smokers. This scenario presents lucrative growth opportunities for the market participants, where they can conduct awareness programs regarding the use of oxygen concentrators to significantly enhance the quality of life. Moreover, rising geriatric population base, which is susceptible to chronic diseases, will also augment the product demand, thereby driving the global market.

U.S. medical oxygen concentrators market

According to data published by the United Nations (UN), global geriatric population was estimated to be 962 million in 2017 and is expected to reach 2.1 billion by 2050. Favorable reimbursements for these concentrators, specifically portable ones, is also expected to have a positive impact on the market. Moreover, awareness campaigns, such as World COPD Day by the Global Initiative for Chronic Obstructive Lung Disease (GOLD), aimed at educating and empowering patients suffering from COPD are expected to boost the growth.

To increase the awareness about COPD, Phillips in collaboration with COPD athlete Russell Winwood developed a motivational content for educating, engaging, and empowering patients and caregivers. Technological innovations in concentrators is further propelling the market growth. Key companies are developing or modifying products, thereby intensifying the competition. For instance, Inogen has developed a product called Inogen at Home for the patients suffering from COPD, bronchitis, and/or other respiratory disorders. Inogen at Home is a lightweight and energy-efficient product permitting 5 liters of continuous oxygen flow per minute.

Product Insights

Portable product segment led the market in 2018 with a revenue of USD 932.1 million and is anticipated to register the fastest CAGR over the forecast period. Increasing demand for lightweight and portable concentrators, growing geriatric population base, and increasing younger population suffering from COPD are the key factors driving the demand for portable medical oxygen concentrators. Portable devices are utilized for oxygen therapies for higher oxygen concentrations than the levels of ambient air.

This equipment is mostly feasible for travelers due to advantages, such as smaller size, better mobility, and higher oxygen capacity suitable for all circumstances. Increasing prevalence of various respiratory disorders is expected to boost the demand for portable devices. Furthermore, significant shift in favor of portable products, in terms of reimbursement coverage, would further strengthen the segment growth.

Various advantages offered by these concentrators, such as continuous supply of oxygen that increases survival chances, improvements in exercise tolerance, ease of handling, less maintenance, improved battery power, and authorized use of concentrators in air planes and airports, will drive the segment further. Whereas, stationary concentrators are expected to witness a steady growth of 3.3% from 2019 to 2025. These devices offer more stable source of oxygen, hands-free operation, and longer tubing as compared to portable ones.

Application Insights

Homecare medical oxygen concentrators dominated the overall market in 2018 and accounted for 55.4% of the total revenue share, owing to the factors such as increasing geriatric population, growing prevalence of COPD, and rising demand for home healthcare oxygen therapies. Home oxygen concentrators promote independence and make it easier and safer for the patient to complete their daily activities.

As COPD is mostly diagnosed in middle-aged and older people, in severe cases, doctors recommend oxygen therapies with home oxygen concentrators that help with shortness of breath. Home care medical oxygen concentrators include portable and stationary oxygen concentrators, mostly used in home oxygen therapies. Therefore, the homecare segment is also anticipated to emerge as the fastest growing segment with a lucrative growth over the forecast period.

The non-home care segment is expected to grow at a steady growth rate of 5.9% over the forecast period. Non-homecare use of oxygen concentrators is mainly applicable for healthcare centers and hospitals. Major factors attributing to the market growth are increasing prevalence of COPD, respiratory disorders such as asthma, occupational lung diseases and growing geriatric population with weak immunity prone to infectious diseases.

Technology Insights

Continuous flow technology segment led the overall market in 2018 owing to rapid technological and product advancements. NSBRI Smart Medical Systems and Technology with their constant innovations, such as development of pressure swing adsorption technology suitable for astronaut to fulfill the oxygen requirements in spacecraft, will help boost the growth further. Increasing prevalence of chronic breathing problems and ongoing use of respiratory equipment for oxygen therapies will also fuel the segment growth. Pulse dose technology is anticipated to witness the fastest CAGR of 10.1% over the forecast period. This technology is considered as the “demand flow of oxygen supply”.

Global medical oxygen concentrators market

Advantages, such as high mobility, improved technologies, better comfort, and increased efficiencies, offered by the technology will augment its demand in the global market.Pulse dose technology is widely used for portable concentrators and is safer and reliable than continuous flow technology, since the devices are equipped with a sensor with capability to detect the next inhalation. It has been estimated that a pulse dose device has an upper limit of 40 breaths per minute. At the point when breath rate increases up to 40 BPM, the device still delivers a dose in every breath.

Regional Insight

North America was the largest market, in terms of revenue share, in 2018 owing to the presence of developed home healthcare care services, high prevalence of respiratory disorders, and favorable reimbursement policies in U.S. Increasing geriatric population in North America is also one of the most significant drivers responsible for the region’s growth. According to data published by the UN, in 2016, over 78 million people in North America were above 60 years of age.

Favorable government initiatives, such as the presence of the Federal Aviation Administration (FAA), which authorize the use of portable concentrators during air travel, are also likely to contribute to the region’s development. Moreover, presence of key companies, such as SeQual, Inogen, Invacare, Oxus, AirSep, Philips Respironics, and Inova Labs Inc., in the region will further augment the growth.

Asia Pacific is expected to emerge as the fastest-growing region over the forecast period. The market in India is emerging as a dual market. Increasing prevalence of COPDs and other respiratory disorders are some of the factors attributing to its rapid growth. Furthermore, increasing healthcare expenditure, awareness regarding the technological advancements used in diagnosis, and demand for portable concentrators are said drive the regional market further.

Medical Oxygen Concentrators Market Share Insights

The market is highly fragmented with the presence of companies, such as Drive DeVilbiss Healthcare, Inc.; Philips Healthcare; Invacare Corporation; Nidek Medical; Inogen, Inc.; Covidien Ltd.; AirSep Corporation; and ResMed. Manufacturers are striving to increase their market share through strategies, such as development of new products and advancements in the existing ones and mergers and acquisitions.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, U.K., Germany, Spain, Italy, France, Russia, China, Japan, India, Singapore, South Korea, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, and UAE

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global medical oxygen concentrators market report on the basis of product, application, technology, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Portable Oxygen Concentrators

    • Stationary Oxygen Concentrators

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Homecare

    • Non-Homecare

  • Technology Outlook (Revenue, USD Million, 2014 - 2025)

    • Continuous Flow

    • Pulse Dose

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • Spain

      • France

      • Italy

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Singapore

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

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