According to the latest medical oxygen concentrators market
trends, Asia Pacific held largest
share in 2023. Rise in prevalence of hospital-based pneumonia is
fueling the market dynamics of the region.
WILMINGTON, Del., July 26,
2024 /PRNewswire/ -- The global medical oxygen
concentrators market was projected to attain US$ 3.4 billion in 2023. It is anticipated to
garner a 6.9% CAGR from 2024 to 2034, and by 2034, the market is
likely to attain US$ 7.1
billion.
The medical oxygen concentrator is one form of medical equipment
used to provide oxygen to people with breathing-related illnesses.
The respiratory mechanisms and metabolism of living things depend
heavily on oxygen. An oxygen concentrator is frequently necessary
for those with low blood oxygen concentrations to restore oxygen
levels.
Oxygen concentrators use pressure swing adsorption to provide
concentrated oxygen up to 95.5%. Using these concentrators to
administer oxygen treatment is a practical and economical approach.
An electronic user interface that helps with modifying the oxygen
concentration levels and delivery parameters is included with
medical oxygen concentrators.
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Medical oxygen concentrators are medical devices that are used
to segregate nitrogen from air in order to extract pure oxygen. The
oxygen concentrated using these devices can be up to 95% pure. The
device draws air in, passes it through a filter, and then
compresses it. The filters take up nitrogen and let oxygen to pass
through, collecting it in a tank. Thereafter, the compressed oxygen
is delivered through a facemask or open prongs beneath the nostrils
via a tiny tube that extends from the device.
Portable oxygen concentrators are also available that run on
rechargeable battery and are mostly equipped to supply oxygen by
pulse dose, wherein tiny bursts of oxygen get released during each
breathe. It is important to note that oxygen concentrators require
constant power supply to operate. Medical oxygen concentrators are
prescribed to patients suffering from chronic obstructive pulmonary
disease (COPD), asthma, emphysema, cystic fibrosis, among others.
Additionally, in high altitude locations, athletes also require
oxygen concentrators in order to reduce fatigue and enhance
training.
It is worth noting that in the U.S. alone, annually more than
1.5 million individuals require supplemental oxygen therapy.
Further, as per estimates from the UNICEF, in low- and
middle-income countries (LMICs), over 7 million children suffer
from severe pneumonia every year. The rising levels of air
pollution also contribute to the surging burden of respiratory
diseases. The World Health Organization reports that almost the
entire global population is exposed to polluted air, with LMICs
suffering from highest exposures. The aforementioned factors are
cumulatively leading to an increased demand for oxygen therapy.
Specifically, during COVID-19 pandemic, the demand for oxygen
concentrators skyrocketed as infected patients required long term
oxygen therapy. The WHO estimated that 20-40% of mortality due to
pneumonia, during the COVID-19 pandemic were preventable with
sufficient oxygen supply. However, the recent years have witnessed
numerous advancements in medical oxygen concentrator technology
with the advent of precise oxygen delivery mechanisms.
Modern oxygen concentrators utilize pulse flow mechanism that
dynamically accommodate to evolving requirements of the patient. In
the future, oxygen concentrators are anticipated to be smaller and
carried in a pocket or worn on a belt, offering respiratory care
patients with enhanced mobility. Compact compressors and more
efficient batteries would also allow for compact oxygen
concentrators, as technology advances. With the integration of
artificial intelligence and machine learning, oxygen concentrators
can precisely analyze breathing patterns and modify oxygen
delivery. The advent of this breakthrough technology is poised to
eliminate uncertainties and result in personalized therapy
regimens.
Key Findings of Market Report
- Blood oxygen levels below normal constitute the medical
condition known as hypoxemia.
- Medicinal oxygen concentrators are a useful tool for treating
hypoxemia.
- These concentrators are a good and appropriate choice for
providing oxygen at the point of care.
- A research published in the Lancet Global Health in 2022 found
that the prevalence of hypoxemia was 31% among all children with
WHO-classified pneumonia, 41% among those with very severe or
severe pneumonia, and 8% among those with non-severe
pneumonia.
- Therefore, the market demand for medical oxygen concentrators
is being driven by the high frequency of hypoxemia among children
who have severe pneumonia.
Market Trends for Medical Oxygen Concentrators
- Refilling medical oxygen concentrators is not necessary. These
concentrators provide 90% to 95% pure oxygen by continually
purifying ambient air. They provide infinite oxygen and are powered
by electricity. When compared to compressed gas cylinders, these
concentrators are more economical.
- Batteries and other accessories have an impact on the cost of
new home oxygen concentrators. Even less expensive are used oxygen
concentrators, depending on the model, hours, and guarantee. In
order to reduce the cost of concentrators, certain businesses in
the medical oxygen concentrator sector are providing rental
services and reconditioned oxygen concentrators.
- One of the primary factors preventing the medical oxygen
concentrator market from growing is the lack of proper maintenance,
training, equipment selection, and acquisition in developing
nations.
Medical Oxygen Concentrators Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 3.4 Bn
|
Forecast (Value) in
2034
|
US$ 7.1 Bn
|
Growth Rate
(CAGR)
|
6.9 %
|
No. of
Pages
|
171
Pages
|
Segments
covered
|
By Modality, By
Technology, By End-user, By Region
|
Global Market for Medical Oxygen Concentrators: Regional
Outlook
- Asia Pacific accounted for the
highest proportion in 2023. The region's market dynamics are being
driven by an increase in the prevalence of hospital-based
pneumonia.
- Pneumonia in children is a serious clinical and public health
concern. About 20% of all pediatric fatalities worldwide include
pneumonia, with the majority of those deaths occurring in
India.
- The market share of medical oxygen concentrators in
Asia Pacific is also increasing
due to the high frequency of respiratory illnesses. China accounted for 24% of all new diagnoses,
21% of all prevalent cases, 32% of all deaths, and 27% of all DALYs
from chronic obstructive pulmonary disease globally in 2019,
according to estimates from the Global Burden of Disease
Study.
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Global Medical Oxygen Concentrators Market: Competitive
Landscape
In order to further improve goods and maintain their
competitiveness in the market, significant companies competing in
the landscape are employing direct patient input in their research
and development activities.
Additionally, they provide portable electronics that are perfect
for usage in homes, workplaces, and transit. The following
companies are well-known participants in the global medical oxygen
concentrators market:
- Chart Industries Inc.
- Inogen Inc.
- Invacare Corporation
- Koninklijke Philips N.V.
- ResMed Inc.
- Drive DeVilbiss Healthcare
- Precision Medical, Inc.
- Besco Medical Co., Ltd.
- 02 Concepts, LLC
- GCE Group
Some key developments by the players in this market
are:
- In order to better service its clients in the Asia Pacific area, the oxygen supply producer
CAIRE opened a brand-new, innovative medical technology center in
Chengdu, China, in March 2024. Along with a variety of specific
AirSep commercial oxygen concentrators, the facility will produce
the Eclipse 5 portable oxygen concentrator and the VisionAire 5
stationary oxygen concentrator for the firm.
- O2 Concepts declared in January
2024 that the Oxlife LIBERTY, their most cutting-edge proof
of concept device, now has greater continuous flow capabilities.
The Oxlife LIBERTY is equipped with the business's unique DNA
Technology, an intelligent cellular technology that is launched by
the device and links DMEs to device data to enable unprecedented
levels of inventory control, asset management, and operating
efficiency.
Global Medical Oxygen Concentrators Market
Segmentation
By Modality
By Technology
- Pulse Flow
- Continuous Flow
By End User
- Hospitals
- Home Care
- Ambulatory Surgical Centers
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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