Comprehensive Analysis of the Oxygen Concentrators Market 2025-2034: Growth Rates, Trends, and Future Opportunities
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What key factors are powering the surge in the oxygen concentrators market right now?
Recent years have seen a potent expansion in the oxygen concentrators market size. The market is projected to grow from a size of $2.27 billion in 2024 to $2.39 billion in 2025, registering a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period is attributed to factors such as the growth of emerging markets, a low-interest rate environment, a growing occurrence of respiratory ailments, an increasing older population, rising levels of pollution, the outbreak of the COVID-19 pandemic, and a growing number of smokers in developing countries.
How fast Is the oxygen concentrators market expected to grow, and what’s its future value?
In the coming years, strong growth is anticipated in the marine insurance market, projected to reach $45.73 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. The expected growth during the forecast period is likely to be driven by the advent of unmanned ships, cybersecurity matters, measures taken to adjust to climate change, initiatives towards eco-friendly shipping, and renewable energy expansion. Significant trends during this period are expected to include digitization and insurance tech, data analysis, and predictive modelling, technology risks related to autonomous ships, fluctuations in economy and trade, and alternative risk transfer strategies.
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What are the leading drivers of growth in the oxygen concentrators market?
The rising occurrence of respiratory ailments worldwide is fueling the expansion of the oxygen concentrators market. Asthma and chronic obstructive pulmonary disease (COPD) are the most prevalent chronic respiratory illnesses on a global scale. For instance, a report published by the American Lung Association in February 2023 indicates that over 34 million Americans are affected by chronic lung diseases, including asthma and COPD, which also encompasses conditions like emphysema and chronic bronchitis. Moreover, over 25 million Americans, extended to over 4 million children, are suffering from respiratory issues due to asthma. Consequently, the rise in occurrence of respiratory ailments stimulates the growth of the oxygen concentrators market.
What are the key segments defining the oxygen concentrators market?
The oxygen concentrators market covered in this report is segmented –
1) By Type: Portable, Stationary
2) By Technology: Pulse Dose, Continuous Flow
3) By Application: Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer, Pneumonia, Other Applications
4) By End User: Hospitals, Home Care, Other End Users
Subsegments:
1) By Portable: Battery-Operated Portable Concentrators, Travel-Friendly Models, Compact And Lightweight Designs
2) By Stationary: Continuous Flow Concentrators, Pulse Dose Concentrators, High-Flow Stationary Models
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Who are the key players steering the development of the oxygen concentrators market?
Major companies operating in the oxygen concentrators market include Inogen Inc, Koninklijke Philips N.V, Invacare Corporation, CAIRE Inc, O2 Concepts LLC, Nidek Medical Products Inc., Precision Medical Inc, Drive Devilbiss Healthcare Ltd, 3B Medical Inc, BPL, Evox Oxygen Concentrators, Nanjing Everich Medicare Import & Export Co. Ltd, AngelBiss Medical Technology Co. Ltd, Hefei DX Medical Co. Ltd, Longfian Scitech Co. Ltd, Air Liquide Sanita Service, Pure O2, Heinen + Lowenstein GmbH & Co. KG, DeVilbiss Healthcare GmbH, Chart Industries Inc, White Martins, Linde Plc, ResMed
What emerging trends are influencing the growth of the oxygen concentrators market?
The oxygen concentrators market is seeing a surge in investment in areas like artificial intelligence and affordable portable devices from companies wanting to enhance the efficiency of these concentrators. The recent global health crisis has led to heightened demand for such inexpensive, transportable concentrators. An example of this is Drive DeVilbiss Healthcare, a renowned US manufacturer of long-lasting medical equipment, who, in collaboration with Sanrai International, a US firm that produces groundbreaking medical equipment, launched the PulmO2 10L Oxygen Concentrator in March 2024. This device is engineered to be durable and energy-efficient, thus making it suitable for high-demand clinical settings. The PulmO2 targets to provide dependable oxygen therapy, especially in regions with insufficient resources, and is projected to drastically reduce energy expenditure compared to conventional 10L concentrators.
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Which regions are most influential in expanding the oxygen concentrators market?
North America was the largest region in the oxygen concentrators market in 2024. Europe was the second-largest region in the oxygen concentrators market. The regions covered in the oxygen concentrators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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