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How Will the Oxygen Concentrators Market Grow Over the Forecast Period Based on Its Expected CAGR?

Recently, the oxygen concentrators market has seen significant growth. The market size is anticipated to expand from $2.27 billion in 2024 to $2.39 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.3%. Factors contributing to this growth during the historic period include the expansion of emerging markets, a low-interest rate environment, the growing incidence of respiratory illnesses, an aging population, increasing pollution levels, the impact of the COVID-19 pandemic, and a growing number of smokers in developing countries.

The market for oxygen concentrators is anticipated to witness robust expansion in the upcoming years, affirming a growth to $3.18 billion by 2029 with a CAGR of 7.4%. This growth projection during the forecast period is credited to the rising aging population, enhanced attention to home healthcare, expanded healthcare accessibility, and technological progress. Key trends for the forecast period range from the innovation of intelligent and portable oxygen concentrators to an increase in collaborations and acquisitions, technological evolutions, the introduction of new payment models, and a surge in patent filings.

Which Drivers Are Expected to Have the Greatest Impact on the oxygen concentrators Market’s Growth?

The rise in respiratory diseases worldwide is fueling the expansion of the oxygen concentrators market. Asthma and chronic obstructive pulmonary disease (COPD), the most prevalent chronic respiratory illnesses globally, significantly impact the market’s growth. For instance, a report from the American Lung Association, a US-based lung health and prevention of lung disease advocate, stated in February 2023 that over 34 million Americans suffer from chronic lung illnesses such as asthma or COPD, including emphysema and chronic bronchitis. Also, more than 25 million Americans, with more than 4 million children included, struggle with respiratory issues due to asthma. Consequently, this surge in respiratory disorders is propelling the growth of the oxygen concentrators market.

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Who Are the Dominant Players Expanding Their Reach in the Oxygen Concentrators Market?

Major companies operating in the oxygen concentrators market include:

• Inogen Inc_x000D_

• Koninklijke Philips N.V_x000D_

• Invacare Corporation_x000D_

• CAIRE Inc_x000D_

• O2 Concepts LLC_x000D_

What Are the Top Trends Shaping the Evolution of the Oxygen Concentrators Market?

Businesses in the oxygen concentrators sector are progressively channeling their resources towards technologies such as artificial intelligence and cost-efficient portable devices to enhance the performance of these vital units. The ongoing pandemic has triggered a surge in demand for portable, affordable concentrators. For instance, in March 2024, Drive DeVilbiss Healthcare, a notable US-based robust medical equipment manufacturer, collaborated with Sanrai International, a US-based firm known for supplying innovative medical apparatus, to roll out the PulmO2 10L Oxygen Concentrator. This equipment is crafted to be not only energy-efficient but also resilient, making it suitable for highly rigorous clinical setups. The PulmO2 seeks to provide dependable oxygen therapy, specifically in areas with scarce resources, and is likely to drastically reduce energy expenditures as compared to conventional 10L concentrators.

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What Are the Major Segments of the Oxygen Concentrators Market and Their Role in Driving Growth?

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

Which Regions Are Setting the Pace for Oxygen Concentrators Market Growth?

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.

What Are the Defining Features of the Oxygen Concentrators Market?

Oxygen concentrators are devices that separate nitrogen and oxygen from the air in the environment and provide pure oxygen to the patient. These are used for supplying oxygen to patients suffering from respiratory diseases.

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