Oxygen Concentrators Market Size, Share & Trends Analysis Report By Product (Portable, Fixed), By Application (Home Care, Non-homecare), By Technology, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the oxygen concentrators market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for oxygen concentrators market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of oxygen concentrators market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Oxygen Concentrators Market Categorization:

The oxygen concentrators market was categorized into four segments, namely product (Portable Oxygen Concentrators, Fixed Oxygen Concentrators), application (Home Care, Non- Home Care), technology (Continuous Flow, Pulse Flow), region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The oxygen concentrators market was segmented into product, technology, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The oxygen concentrators market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; China; Japan; India; Australia; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Oxygen concentrators market companies & financials:

The oxygen concentrators market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• INVACARE CORPORATION - Invacare Corporation is a medical devices company involved in manufacturing, designing, & distribution of home care and longterm care medical devices, powered wheelchairs, scooters, walkers, pressure care, & other respiratory products. The company was established in 1885, and located in Ohio, U.S. The company’s total product portfolio is about 25,000 medical devices that are distributed to 80 countries globally.

• KONINKLIJKE PHILIPS N.V. (PHILIPS RESIPRONICS) - Koninklijke Philips N.V. is a technology company that operates through three verticals-healthcare, consumer lifestyle, and lighting. The company’s subsidiary-Philips Respironics-is currently offering products related to respiratory disorders and sleep apnea.

• DRIVE DEVILBISS HEALTHCARE INC. -Drive DeVilbiss Healthcare, Inc. designs, manufactures, and markets respiratory products used in oxygen therapy, aerosols, suction, and sleep therapy. The company’s products cater to various respiratory diseases, such as COPD, asthma, cystic fibrosis, and obstructive sleep apnea.

• CAIRE INC - Caire Inc. was acquired by NGK SPARK PLUG in 2018. It was earlier a part of Chart Industries, Inc. The company is a manufacturer of oxygen delivery solutions. The company’s products are sold under the brand names AirSep, SeQual CAIRE, and HELiOS, which include portable & stationary oxygen therapy devices. These products support long-term home care services, hospice, hospitals, and other key commercial applications.

• INOGEN INC. - manufacturing, designing, and selling of oxygen concentrators that are used to deliver long-term oxygen therapy for patients with chronic respiratory conditions. The company has a wide portfolio of portable devices, such as Inogen One G2, G3, and G4. These devices are equipped with intelligent delivery technology that gives them an upper edge over other devices available in the market.

• O2 CONCEPTS, LLC. - O2 concepts LLC. is a U. S.-based private manufacturer and distributor of portable concentrators. The company’s manufacturing, repair, and R&D facility is in Connecticut. It operates in the market through its core product-Oxlife Independence portable oxygen concentrator-which is a highquality, light weight travel-friendly device for COPD patients.

• NIDEK MEDICAL PRODUCTS, INC. - Nidek Medical Products, Inc. is a medical device manufacturer specializing in respiratory and intensive care devices. The company has presence in about 100 countries and caters to hospitals, home care, and independent patient groups. Its product portfolio includes oxygen concentrators, such as Mark 5 Nuvo Lite 3, Mark 5 Nuvo Lite, Mark 5 Nuvo 8 oxygen concentrator, and Mark 5 Nuvo 10 oxygen concentrator.

• RESMED - ResMed is a healthcare company that develops, manufactures, and distributes medical devices and cloud-based software for diagnosis and treatment of sleep & respiratory disorders such as Sleep Disordered Breathing (SDB), neuromuscular diseases, and Chronic Obstructive Pulmonary Disease (COPD). The products manufactured by the company for SDB market include devices used for various therapeutic, diagnostic, and management purposes, which help in treating obstructive sleep and respiratory disorders.

• OXYGO, LLC. - OXYGO, LLC. Was established in 1989 and located in Florida, U.S. The company .is a privately held medical device company involved in manufacture of portable oxygen concentrators. The company is an important subsidiary of Ohio-based medical equipment company-Applied Home Healthcare Equipment. The company launched its first oxygen concentrator in 2014 and is currently operating through three types of portable oxygen concentrators in the market.

• PRECISION MEDICAL, INC. - Precision Medical, Inc. is a privately held medical devices company focused on respiratory care products. The company’s product portfolio includes oxygen and vacuum regulators, air compressors, aspirators, flowmeters, oxygen concentrators, and other devices.They manufacture its durable medical fittings in the U.S. and is currently helping patients with their oxygen therapy supplies in more than 70 countries worldwide

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Oxygen Concentrators Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Oxygen Concentrators Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.