Oxygen Concentrator Devices Market Size, Share, and COVID-19 Impact Analysis, By Type (Portable, Stationary), By Delivery System (Continuous Flow and Pulse Flow), By Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Respiratory Distress Syndrome, and Others), By End-User (Hospitals & Clinics, Home Care Settings, and Others), and Regional Forecast, 2024-2032

Oxygen concentrator devices play an important role in managing chronic lung disease patients. These devices are referred to as a safe source of oxygen-enriched air. As per the data provided by the American Thoracic Society, the number of adults using supplemental oxygen in the U.S. for several disorders has crossed 1.5 million. Thus, with the growing demand for oxygen therapy, the market for oxygen concentrator devices has gained traction in recent years. Additionally, the market is witnessing a shift from inpatient oxygen therapy to outpatient/at-home therapy. Moreover, the growing prevalence of respiratory diseases, increasing adoption of portable devices, and strategic initiatives undertaken by key players are other factors propelling the market growth.

• For instance, according to American Lung Association, in 2020, 12.5 million people were diagnosed with chronic obstructive pulmonary disease, chronic bronchitis, or emphysema in the U.S.

Furthermore, the convenience associated with using these devices, the user-friendly interface, and the increasing geriatric population are expected to supplement the oxygen concentrator devices market growth in the near future.

Impact of COVID-19 on the Oxygen Concentrator Devices Market

The recent outbreak of the COVID-19 pandemic had a positive impact on the global oxygen concentrator devices market. Owing to the overcrowded hospitals, and lack of availability of ventilators in limited resource settings, the demand for oxygen concentrators drastically increased during the pandemic. Patients who are not in requirement of ventilator support can be treated with the help of oxygen concentrators.  Additionally, the increasing number of patients undergoing COVID-19 treatment at home also bolstered the demand for oxygen concentrators.

• For instance, as of February 2021, to support the scale-up of the oxygen supply in low to middle-income countries, the World Health Organization (WHO) had distributed more than 30,000 concentrators in around 121 countries worldwide.

Key Insights

The report will cover the following key insights:

• Prevalence of Chronic Respiratory Diseases, By Key Countries/Regions.


• Regulatory & Reimbursement Framework, By Key Regions.


• Key Industry Developments -Mergers, Acquisitions, New Product Launches, etc.


• Technological Advancements in Oxygen Concentrator Devices.


• Impact of COVID-19 on the Global Oxygen Concentrator Market.

Analysis by Delivery System

The portable device segment captured a significant share of the global oxygen concentrator devices market. Since the outbreak of the COVID-19 virus, the market has witnessed an increasing number of companies entering this space to fulfill the growing market demands. For instance, in June 2021, Servotech Power Systems announced its plans to manufacture portable oxygen concentrators at its facility in India. Moreover, several benefits offered by portable devices, such as ease to handle due to compact size and lightweight, ease of use at different places, freedom to travel, and low maintenance, further support the increasing adoption of portable devices in the global market.

Regional Analysis

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North America would capture the highest market share in the global oxygen concentrator devices market in 2022. Key factors contributing to the dominance of the region include the high prevalence of respiratory diseases, intense competition among the operating players, high adoption of homecare therapy, supportive regulatory framework, and well-developed healthcare infrastructure. Other factors boosting the regional growth include an increasing number of new product launches by operating companies, high healthcare spending in the U.S., and supporting initiatives by private & public authorities.

Key Players Covered

The report will include profiles of key players such as Koninklijke Philips N.V., Invacare Corporation, Inogen, GCE Healthcare, CAIRE Inc., Drive DeVilbiss International, O2 Concepts, LLC, Nidek Medical Products, Inc., Precision Medical, Inc., and Besco Medical.

Segmentation

Key Industry Developments

• July 2022: OMRON Healthcare introduced a new portable Oxygen concentrator with advanced technology. This product is based on Pressure Swing Adsorption) technology to provide high-concentration output.


• May 2021: Koninklijke Philips N.V. announced a reduction in the price of oxygen concentrators by 7% in the Indian market.