Medical Oxygen Concentrators Market Size

Increasing prevalence of chronic respiratory diseases boosts market growth.

The global medical oxygen concentrator market is increasing at a rapid pace as the number of patients is growing day by day. According to World Health Organization, chronic obstructive pulmonary disease (COPD) was the third leading cause of death, accounting for 3.23 million deaths in 2019. The research shows that there is an increasing population with respiratory diseases, and they need proper oxygen to breathe. 

Moreover, an increasing number of patients with long-term oxygen therapy (LTOT), sleep apnea, and asthma is bolstering the growth of the market. Furthermore, favorable government initiatives and an emphasis on providing medical oxygen concentrators to all patients who need them are expanding the medical oxygen concentrator market's size.

Additionally, the growing geriatric population with high incidences of COPD, pulmonary fibrosis, pneumonia, severe asthma attack, cystic fibrosis, sleep apnea, and pulmonary embolism is propelling the market growth.

Supportive regulatory frameworks and favorable reimbursement policies are pivotal in driving the Global Medical Oxygen Concentrators Market Industry. Governments and health organizations are increasingly recognizing the importance of oxygen therapy in managing respiratory conditions. This recognition leads to the establishment of reimbursement schemes that facilitate access to oxygen concentrators for patients. Such policies not only enhance affordability but also encourage manufacturers to innovate and expand their product offerings. As regulatory support strengthens, the market is poised for sustained growth, reflecting the increasing integration of oxygen therapy into standard healthcare practices.

The rising incidence of respiratory disorders globally is a primary driver for the Global Medical Oxygen Concentrators Market Industry. Conditions such as chronic obstructive pulmonary disease (COPD) and asthma are becoming more prevalent, necessitating the need for supplemental oxygen. According to health statistics, millions of individuals are diagnosed with these conditions annually, leading to a growing demand for oxygen therapy solutions. This trend is expected to contribute significantly to the market's growth, with the market projected to reach 3.59 USD Billion in 2024. As awareness of these disorders increases, the demand for medical oxygen concentrators is likely to rise.

The growing acceptance of home healthcare solutions is transforming the Global Medical Oxygen Concentrators Market Industry. Patients increasingly prefer receiving medical care in the comfort of their homes, leading to a surge in demand for home-use oxygen concentrators. This shift is supported by healthcare policies that promote home-based care as a cost-effective alternative to hospital stays. As a result, manufacturers are focusing on developing portable and user-friendly devices that cater to this market segment. The trend towards home healthcare is likely to drive significant growth in the industry, as more patients seek convenient and accessible oxygen therapy options.

Technological innovations play a crucial role in shaping the Global Medical Oxygen Concentrators Market Industry. Recent advancements have led to the development of more efficient and compact oxygen concentrators, enhancing user experience and accessibility. Features such as portable designs, improved oxygen delivery systems, and user-friendly interfaces are becoming standard. These innovations not only improve patient outcomes but also expand the market reach to a broader demographic. As the industry embraces these advancements, the market is anticipated to grow at a CAGR of 6.27% from 2025 to 2035, indicating a robust future for technologically advanced oxygen concentrators.

The global demographic shift towards an aging population is a significant driver for the Global Medical Oxygen Concentrators Market Industry. Older adults are more susceptible to respiratory ailments, thereby increasing the demand for oxygen therapy. Additionally, as healthcare expenditure rises, more resources are allocated towards managing chronic conditions, including respiratory diseases. This trend is particularly evident in developed nations, where healthcare systems are adapting to cater to the needs of an aging populace. The market is expected to benefit from this demographic change, with projections indicating a market value of 7.01 USD Billion by 2035.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the market of medical oxygen concentrators grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the medical oxygen concentrators industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Invacare Corporation (US) is the leading manufacturer and distributor of innovative home and long-term care medical products that encourage recovery and active lifestyles. In October 2019, the company launched the Platinum Mobile Oxygen Concentrator to meet consumers' needs, including both providers and patients.

Also, Inogen, Inc. (US) is a medical technology company that develops, manufactures, and markets portable oxygen concentrators. Its medical oxygen concentrators deliver supplemental long-term oxygen therapy to patients who are suffering from chronic respiratory conditions. In April 2019, the company launched the Inogen One G5 Portable Oxygen Concentrator for use in homecare settings as well as away from home and for travel for medical conditions.