The global Oxygen Concentrators Market was estimated at $3.30 billion in 2020 and is expected to hit $6.06 billion by 2030, registering a CAGR of 5.90% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Daily exposure to environmental pollution, increase in population susceptible to indoor air pollutants, and rise in number of active smokers across the world drive the growth of the global oxygen concentrators market. On the other hand, stringent regulatory procedures and high costs of oxygen concentrators restrain the growth to some extent. However, high growth potential in emerging markets and upsurge in geriatric population are expected to create lucrative opportunities in the industry.
COVID-19 scenario-
- Oxygen gas treatment has now been thoroughly executed on patients for the therapy of chronic health issues to improve energy levels and sustain superior quality life of the patients.
- Also, special attention is drawn to both the import and local manufacturing of medical oxygen gas to ensure its uninterrupted supply to designated COVID-19 hospitals identified by the local administration. These factors have impacted the global oxygen concentrators market positively.
The global oxygen concentrators market is analyzed across technology, product, end user, and region.
Based on technology, the continuous flow segment accounted for nearly three-fourths of the total market share in 2020, and is expected to rule the roost by 2030. The pulse flow segment would garner the fastest CAGR of 6.30% throughout the forecast period.
Based on product, the portable segment contributed to more than three-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 6.20% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering around two-fifths of the global market. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 7.90% throughout the forecast period. The other provinces discussed in the report include Europe and LAMEA.
The key market players analyzed in the global oxygen concentrators market report include Invacare Corporation, DeVilbiss Healthcare LLC, Inogen, Inc., Koninklijke Philips N.V., Chart Industries, Inc. (AirSep), Supera Anesthesia Innovations, GCE Group, Nidek Medical, O2 Concepts, Teijin Limited. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
