Portable Oxygen Concentrators Market: Current Analysis and Forecast (2024-2032)

Portable Oxygen Concentrators Market Size & Forecast

The Portable Oxygen Concentrators Market was valued at approximately USD 2 Billion and is expected to grow at a strong CAGR of around 8% during the forecast period (2024-2032) owing to the increasing prevalence of respiratory disorders.

Portable Oxygen Concentrators Market Analysis

The Portable Oxygen Concentrators (POC) industry includes a variety of types of devices that are used for delivering oxygen therapy for people with respiratory diseases in an easy-to-transport format. These small and portable devices take oxygen from the surrounding environment and, as such, do not require cumbersome oxygen cylinders; thus, the patients are able to move around and are also not restricted in any form.

This market has thus expanded favorably, owing to factors like rising incidences of respiratory disorders, focusing shifts in-home care systems, innovative technologies improving device mobility and performance, and a developing geriatric population demanding a better lifestyle. According to the World Health Organization, on March 16, 2023, nearly 90% of COPD deaths in those under 70 years of age occurred in low- and middle-income countries (LMIC). Besides, the increase in the scope of reimbursement policies and healthcare-based schemes related to home-based care also positively impacts the market’s growth. As technology advances, adopted to bring about innovations that can improve both the usability and the proven medical necessity of the devices, POC is on the right track for further growth as it provides crucial support for people living with chronic respiratory diseases.

Portable Oxygen Concentrators Market Trends

This section discusses the key market trends influencing the various segments of the portable oxygen concentrators market as identified by our research experts.

Pulse Flow Portable Oxygen Concentrators Transforming Industry

The pulse flow segment dominates the global portable oxygen concentrators market in 2023. This change in dynamics was made through continuous technological developments that have increased the efficacy and dependability of pulse flow devices. For instance, on 22 February 2024, GCE Healthcare alternated the Zen-O and Zen-O lite POCs to meet the needs of those who depended on Philips. The Zen-O POC comes with pulse and continuous flow technologies and has an oxygen delivery rate of up to 2 liters per minute. At the same time, the main feature of the Zen-O lite is its ultra-lightweight and near-silent operation, which makes it approved for in-flight use. Those allow travelers to breathe easier because they have a more human-like shape, which is very suitable for active individuals who need oxygen therapy. Also, the increase in the proportion of the population with aging and an increased incidence of respiratory diseases, including COPD, has led to the need for pulse flow POCs for respiratory health checks that are convenient and accessible at the point of care convenient and accessible.

Asia-Pacific is Expected to Grow with Significant CAGR During Forecast Period

Within Asia-Pacific, the growth of an upper middle class, an increase in health costs, and a focus on home care have collectively influenced the development of the market. Moreover, constant innovations in portable oxygen concentrators not only increasing the product reach but also trying for a better healthcare facility at a more affordable rate are again the major drivers for market growth. There are also government actions to increase spending on healthcare and penetration of medical devices that contribute to the development of the popularity of POCs in the presented region. Moreover, key market players such as healthcare providers, manufacturers, and distributors of asthma medical equipment are continuing to invest in modern technologies and expand market penetration by reaching out to healthcare practitioners and patients.

In December 2023, Belluscura and InnoMax Medical Device Technologies had a licensing arrangement that permits Belluscura to distribute their X-PLOR portable oxygen concentrator (POC) in China. The AIM-traded company stated that negotiations were in progress with Chinese distributors and that the Asian POC market will grow to around $1 billion during the next six years.

Portable Oxygen Concentrators Industry Overview

The Portable Oxygen Concentrators Market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Inogen, Inc., CAIRE Inc., Invacare Corporation, Koninklijke Philips N.V., Precision Medical, Inc., Chart Industries, GCE Group, O2 Concepts, LLC., Nidek Medical Products, Inc., Drive DeVilbiss International.

Portable Oxygen Concentrators Market News

• In August 2023, Inogen, Inc. declared that the Rove 6 portable oxygen concentrator would be available in the United States. With a purported eight-year anticipated service life, it is the perfect choice for patients seeking a POC that optimizes their range and flexibility for oxygen administration within a system that is quiet, simple to operate, and easy to maintain.

• In July 2023, Inogen, Inc., a medical technology company offering innovative respiratory products for use in the homecare setting, announced that the company has entered into a definitive agreement to purchase Physio-Assist SAS, a privately-held company headquartered in France. The acquisition enables evolution to a global respiratory care company by adding a sizable, growing, and underserved airway clearance market opportunity.

• In July 2022, OMRON Healthcare revealed that the company has recently expanded its line of portable oxygen concentrators, introducing the newest product. This concentrator employs medical molecular sieve technology to uninterruptedly deliver high-purity oxygen at a flow rate of 5 liters per minute. It delivers an oxygen-enriched gas stream with a concentration above 90 percent.

Portable Oxygen Concentrators Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The Global Portable Oxygen Concentrators Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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