According to a revised research study by Future Market Insights, the global portable oxygen concentrator market is poised to achieve a valuation of USD 2.2 billion by 2024. With strong growth projections, the market is expected to reach USD 4.3 billion by 2034, reflecting a consistent compound annual growth rate (CAGR) of 6.7% during the forecast period.
The growing incidence of respiratory conditions such as chronic obstructive pulmonary disease (COPD), along with advancements in oxygen delivery technology, is driving the demand for portable oxygen concentrators. These devices offer patients a more mobile and flexible solution for oxygen therapy, allowing them to lead more active and independent lives.
Market Motivators Enhancing Market Growth
- Rising prevalence of respiratory disorders is one of the major drivers for the demand for portable oxygen concentrators.
- Technological innovations are making oxygen concentrators more attractive to patients who require oxygen therapy.
- Increasing preference for home healthcare is a major factor that is creating new opportunities for the market growth.
- Increasing awareness as well as acceptance regarding the benefits of oxygen therapy is also accelerating the market growth.
Competitive Landscape
The portable oxygen concentrator market is characterized by a diverse mix of global, regional, and local players competing to gain market share and meet the growing demand for oxygen therapy solutions globally.
Company Portfolio
- Koninklijke Philips N.V. offers innovative devices such as the SimplyGo Mini, designed for on the go oxygen therapy with features like portability, ease of use, and reliability.
- Inogen, Inc. specializes in the development and manufacture of innovative oxygen therapy solutions, with a focus on portable oxygen concentrators.
Key Companies Profiled
- Koninklijke Philips N.V.
- Inogen, Inc
- Chart Industries, Inc.
- Resmed, Inc.
- Invacare Corporation
- Drive DeVilbiss Healthcare LLC
- Precision Medical, Inc.
- Besco Medical Co. Ltd.
- Oxus America, Inc.
- Foshan KeyhubElectronic Industries Co. Ltd.
- O2 Concepts LLC
- GCE Group
Segmentation Analysis of the Portable Oxygen Concentrator Market
By Product:
- Continuous Flow
- Pulse Flow
By End User:
- Hospitals
- Homecare Settings
- Ambulatory Surgical Centres
- Travel Agents
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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