Medical Indoor Oxygen Concentrators Market Report Overview
- Request a Free sample to learn more about this report
The global medical indoor oxygen concentrators market size was USD 2305 million in 2022 and is expected to reach USD 3484.86 million in 2031, at a CAGR of 4.7% during the forecast period.
A medical device known as an indoor oxygen concentrator concentrates oxygen by selectively removing nitrogen from a gas supply to produce an oxygen-enriched product gas stream. In order to concentrate room oxygen to therapeutic levels for the patient, a medical indoor oxygen concentrator draws air from the surroundings and passes it through molecular sieve beds. People with low blood oxygen levels can benefit from medical indoor oxygen concentrators. In underdeveloped countries, oxygen concentrators are useful for giving point-of-care (POC) oxygen, particularly when cylinders and piped systems are unavailable or inadequate.
With dependable electricity, these devices supply health facilities with sustainable and affordable oxygen. Medical indoor oxygen concentrators are used to create oxygen for patients in clinics or at home. Oxygen is produced via PSA (Pressure Swing Adsorption) generators, which are more affordable, more reliable, and more efficient. They are a far more practical option than pressurized cylinders or cryogenic oxygen tanks. They can be applied to a variety of fields, including medicine, the production of pharmaceuticals, the purification of water, and the creation of glass. Inaccessible or rural regions of the world, as well as mobile medical facilities like military hospitals and catastrophe centers, might benefit greatly from PSA generators.
COVID-19 Impact: Rising Number Of COVID-19 Increased Demand For Oxygen Concentrators For Intensive Care
The global COVID-19 pandemic has been unprecedented and staggering, with Medical Indoor Oxygen Concentrators Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The demand for supplementary oxygen devices is dramatically changing due to a sudden coronavirus outbreak (COVID-19). Because of a severe lack of ventilators, many healthcare infrastructures are finding it challenging to treat critically ill patients as the number of hospitalizations caused by COVID-19 has increased. This is because the severe cases of COVID-19 necessitate some kind of artificial respiratory support. Engineers and scientists have created unique devices to imitate the fundamental operation of ventilators in order to get around this limitation. These devices use existing ones like oxygen concentrators, anaesthetic machines, PAP devices, manual resuscitators, and a few more. Additionally, the Emergency Use Authorization granted by the American FDA for the use of these devices will greatly boost the demand for oxygen concentrators in the upcoming quarters.
Due to the overstretched healthcare system, there is also an increase in the demand for supplementary oxygen devices among COVID-19 patients with acute diseases in homecare settings. The market participants, such as Philips Respironics, Invacare Corporation, Inogen, Inc., and others that provide a variety of portable oxygen concentrators and in-house oxygen equipment, anticipated taking advantage of this increased demand.
"Latest Advancement In Technology Leads To Market Expansion"
The continuous flow category, which dominated the market in 2020 depending on technology, is anticipated to keep up this trend over the next few years. This is related to the rise in elderly population, which is anticipated to boost market expansion, as well as lifestyle choices including smoking and alcohol usage. Medical professionals frequently employ oxygen concentrators for therapeutic and diagnostic purposes. In homecare settings, medical oxygen gas systems like oxygen concentrators and compressed oxygen gas cylinders are widely used. Older patients who have mobility issues and need a consistent oxygen supply typically choose these systems.
Medical Indoor Oxygen Concentrators Market Segmentation
- Request a Free sample to learn more about this report
- By Type Analysis
According to type, the market can be segmented into Portable Medical Oxygen Concentrator Stationary Medical Oxygen Concentrator, etc. As per the type, Portable Medical Oxygen will be the leading segment.
- By Application Analysis
Based on application, the market can be divided into Home, Hospital, Traveling, Others, etc. As per the application, Home will be dominating the market for the upcoming years.
"Increasing Demand In Healthcare Industry Will Lead to Market Growth "
The major factors propelling the market growth are the high flow of patients who require long-term oxygen therapy around the world, rising prevalence of chronic obstructive pulmonary diseases, growth in healthcare spending, rising demand for portable oxygen concentrators, and the existence of beneficial government initiatives. There is a huge need for oxygen, and producing it involves a number of expensive process cycles, including CO2 capture. The usage of medical oxygen concentrators in veterinary anesthesia is anticipated to provide participants in the worldwide medical oxygen concentrators market with profitable growth prospects.
"Increasing Environmental Pollution To Drive The Market"
The market is being driven by an increase in daily exposure to environmental contaminants. Additionally, rises in the number of people who are sensitive to indoor air pollutants as well as a rise in the number of people who smoke regularly are driving the market's expansion. Additionally, throughout the projected period, the market for oxygen concentrators would benefit from strong development potential in emerging markets and an increase in the number of elderly people.
"High Costs could hamper the market expansion"
Daily exposure to environmental pollution, an increase in the population susceptible to indoor air pollutants, and an increase in the number of people who smoke actively are the main factors driving the growth of the worldwide oxygen concentrators market. High costs and strict regulations, however, are anticipated to impede industry expansion. These factors will limit the market potential in the forthcoming years.
Medical Indoor Oxygen Concentrators Market Regional Insights
Request a Free sample to learn more about this report
"The largest market growth would be seen in the Asia-Pacific region."
During the projection period, Asia Pacific is anticipated to be the most profitable market. The frequency of lung illnesses and the fast growing geriatric population are major drivers of regional market expansion. By 2050, it is predicted that one in four residents in the area will be older than 60. The region's economies that are more advanced have seen major rises in living and health standards. Increases in healthcare costs, life expectancy, and public knowledge of new technologies are a few of the factors anticipated to support regional market expansion throughout the projection period.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Inogen (U.S.)
- NGK Spark Plug (Japan)
- Yuyue Medical (China)
- Invacare (Ohio)
- Teijin Pharma (Japan)
- Philips (Netherlands)
- Linde (Irreland)
- DeVilbiss Healthcare (U.S.)
- ResMed (U.S.)
- O2 Concepts (U.S.)
- Air Water Group (Japan)
- Omron (Japan)
- Beijing Shenlu (China)
- Nidek Medical (U.S)
- Shenyang Canta (China)
- GF Health Products (U.S.)
- Precision Medical (U.S.)
- Daikin (Japan)
- Longfei Group (China)
- SysMed (China)
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Market Size Value In
US$ 2305 Million in 2022
Market Size Value By
US$ 3484.86 Million by 2031
CAGR of 4.7% from 2022 to 2031
Historical Data Available
Type & Application
Frequently Asked Questions
What value is the global medical indoor oxygen concentrators Market expected to touch by 2031?
The global medical indoor oxygen concentrators Market is expected to touch USD 3484.86 million by 2031.
What CAGR is the medical indoor oxygen concentrators market expected to exhibit during 2023-2031?
The medical indoor oxygen concentrators market is expected to exhibit a CAGR of 4.7% over 2023-2031.
Which are the driving factors of the medical indoor oxygen concentrators market?
The usage of medical oxygen concentrators in veterinary anaesthesia is anticipated to provide participants in the worldwide medical oxygen concentrators market with profitable growth prospects.
Which are the top companies operating in the medical indoor oxygen concentrators market?
DeVilbiss Healthcare (U.S.), ResMed (U.S.), O2 Concepts (U.S.), Air Water Group (Japan), Omron (Japan), Beijing Shenlu (China), Nidek Medical (U.S), Shenyang Canta (China) are the top companies operating in the medical indoor oxygen concentrators market.