Homecare Oxygen Concentrators Market - By Product (Portable Oxygen Concentrators, Fixed Oxygen Concentrators), By Technology (Continuous Flow, Pulse Flow) – Global Forecast, 2023-2032

Homecare Oxygen Concentrators Market Size

Homecare Oxygen Concentrators Market size was valued at USD 1.7 billion in 2022 and is estimated to account for USD 2.8 billion by 2032. Homecare oxygen concentrators are medical devices designed for delivering supplementary oxygen to patients with breathing complications outside the healthcare facilities. Rising government initiatives in developed and developing economies is expected to influence the market growth potential.

For instance, the Department of Health in UAE launched chronic respiratory disease awareness program to enhance early detection rate, disease management and provide quality treatment for respiratory diseases across the country. Such awareness programs provide knowledge about advanced therapies and equipment that are being used in the disease treatment.

Moreover, user friendly nature and convenience associated with the use of advanced oxygen concentrators in personal use will propel the market development. Increasing healthcare spending, improving accessibility of homecare oxygen concentrators in developing countries and favorable policies will further proliferate the industry growth potential in the forthcoming years.
 

COVID-19 Impact

The COVID-19 outbreak has positively impacted the medical oxygen concentrators industry, which is anticipated to grow at a CAGR of 3.3% during the forecast period. During the pandemic, these oxygen concentrators were increasingly used to supply additional oxygen to patients accessing treatment at home or suffering from COVID-19 associated respiratory conditions. Further, introduction of effective treatment and preventive vaccines led to declined infection rate across the globe. This lowered the demand for homecare oxygen concentrators in 2021 compared to 2020. However, the market will continue to foresee momentous growth during the forecast period with increasing prevalence of several other respiratory diseases.

Homecare Oxygen Concentrators Market Trends

The market growth is driven by the increasing prevalence of chronic respiratory diseases, especially, in developed countries which is accelerating the demand for therapeutic respiratory devices. Increasing prevalence rate is owing to several risk factors such as sedentary lifestyle, smoking habits, and environmental exposure among others.  
 

• The chronic obstructive pulmonary disease (COPD) and asthma are among the leading respiratory diseases across the world, thereby resulting in increasing respiratory disease testing. For instance, as per WHO, about 90% of deaths related to COPD occur in individuals under 70 years of age. Thus, increasing need for additional oxygen supply in COPD treatment will augment the market progress.
   
• Further, based on statistics, the Medicare penetration rate for portable oxygen concentrators (POCs) in the U.S. has been rising steadily. For instance, in 2021, the POC penetration was 22.0% while that of stationary was 17%. This will positively impact the demand for homecare oxygen concentrators in the future.

   

Homecare Oxygen Concentrators Market Analysis

The market by product is categorized into portable oxygen concentrators and fixed oxygen concentrators. The portable homecare oxygen concentrators segment garnered USD 800 million revenue size in the year 2022.

• The segment growth is highly attributable to its mobile nature, user friendly operations and enhanced efficiency. Further, increasing launches of portable concentrators due to inclination towards mobile devices among patients will positively impact the segment revenue.
   
• Thus, expanding availability of portable home oxygen concentrators in the market such as Ever Flo by Philips, Nuvo lite and Nuvo 10 by NIDEK will strengthen the market growth potential in the upcoming years.
   

The homecare oxygen concentrators market by technology is categorized into continuous flow and pulse flow. Continuous flow segment is estimated to witness 5.8% CAGR during forecasted timeframe.  

• Continuous flow oxygen concentrators allow uninterrupted supply of oxygen at same rate to the patient, thereby increasing requirement of continuous flow among patients with COPD or other severe respiratory conditions which will stimulate the segment demand.
   
• Additionally, several manufacturers of continuous flow homecare oxygen concentrators are adopting advanced technologies to develop new innovative products that will further contribute to the revenue expansion.
   

U.S. homecare oxygen concentrators market accounted for USD 698 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.

• The U.S. has solidified its position in the market, primarily attributed to the high prevalence rate of COPD and other respiratory diseases in the country. Furthermore, smoking, increased tobacco consumption, and environmental changes are contributing to the growing incidence of such diseases.
   
• Additionally, U.S. advanced healthcare infrastructure, leadership in innovative medical practices, and accessibility to advanced products contribute to its central role in the market.
   

Homecare Oxygen Concentrators Market Share

The homecare oxygen concentrators industry is consolidated, with major players such as Koninklijke Philips N.V., Precision Medical, and others dominating the market. These companies are focused on continuous product innovation to secure a significant market share. For instance, in October 2019, Precision Medical launched the Live Active Five portable oxygen concentrator. This product was developed to assist patients suffering from COPD and other chronic respiratory illnesses. Thus, such product launches enable the company to expand and build a larger customer base.

Some of the eminent market participants operating in the homecare oxygen concentrators industry include:

• Precision Medical, Inc
• Besco Medical Co
• Air Water Inc
• Yuwell (iangsu Yuyue Medical Equipment and Supply Co., Ltd.)
• Longfian Scitech Co
• BOC Healthcare (The Linde Group)
• Chart Industries
• Drive DeVibiss Healthcare Inc
• Innogen Inc
• Inova Labs Inc. (ResMed)
• NIDEK Medical Products, Inc.
• O2 Concepts
• Koninklijke Philips N.V.

Homecare Oxygen Concentrators Industry News:

• In July 2022,  the launch of OMRON Healthcare's portable oxygen concentrator was announced in order to meet the needs of home care providers in managing the therapeutic and lifestyle demands of people with COPD and respiratory disorders. This is an example wherein market players are dedicated to adopting cutting-edge technologies in the respiratory care sector to meet the evolving needs of healthcare professionals and patients. This has strengthened the company’s product portfolio in the market.
  
   
• In May 2021, OxyGo LLC announced the acquisition of LIFE Corporation, a medical device company involved in manufacturing of portable emergency oxygen and CPR administration equipment. This acquisition enhanced development capabilities of the firm and offered business development opportunities in the market.

   

Homecare oxygen concentrators market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product, 2018-2032 (USD Million)

• Portable oxygen concentrators
• Fixed oxygen concentrators

By Technology, 2018-2032 (USD Million)

• Continuous flow
• Pulse flow

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Rest of Middle East & Africa