Stationary Oxygen Concentrators Market Report Overview
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The global stationary oxygen concentrators market size is US$ 695 million in 2021. As per our research, the market is expected to generate substantial revenue by 2028, with a CAGR of 7.1% during the forecast period.
Stationary oxygen concentrators are medical devices that are used to provide a concentrated supply of oxygen to patients who require oxygen therapy. These devices work by taking in air from the surrounding environment and filtering out nitrogen and other gases to produce a stream of oxygen that is between 87% and 95% pure. This concentrated oxygen is then delivered to the patient through a mask, nasal cannula, or other interface.
The stationary oxygen concentrator market has been growing in recent years due to a rising prevalence of respiratory disorders, an aging population, and an increase in awareness of the benefits of oxygen therapy. As well as, technological advancements that improve the efficiency and effectiveness of the devices that increase use of oxygen therapy for non-respiratory conditions such as sleep apnea, and the growing demand for home healthcare solutions. Furthermore, the market is segmented based on by type, by application, and regional expansion of the market.
In addition, molecular sieve oxygen concentrators, electrolysis oxygen, chemical oxygen concentrator, and many other types of concentrators are being offered by numerous companies. On the other hand, hospitals and homes are the most popular application segment in the market which contribute to a significant demand for these devices. Thereby, the market is predicted to flourish with an extensive CAGR during the forecast 2022-2028.
COVID-19 Impact: Pandemic Surges in the Demand for Oxygen Concentrators
The COVID-19 pandemic has fuelled the oxygen demand, as it primarily affects the respiratory system, many patients with severe cases of the disease require oxygen therapy to help them breathe. This has led to a surge in demand for stationary oxygen concentrators in hospitals and other healthcare facilities around the world. In addition to this, there has also been a rise in demand for home healthcare solutions, as many patients with COVID-19 are required to isolate at home and receive medical care remotely. This has also spiked the demand for stationary oxygen concentrators for home use, as well as for other home healthcare equipment and services. Resulted, the market is predicted to continue to grow in the coming years as well, as the world's population ages and the prevalence of respiratory conditions increases.
Latest Trends
"A Rising Trend of Enhanced Oxygen Delivery Systems Raises Market Scope"
The growth of the market for stationary oxygen concentrators has been thriving exponentially due to several factors including occurring latest innovations and trends in the market. For instance, improved portability of concentrators and enhanced oxygen delivery systems are gaining popularity and rising the demand for stationary oxygen devices. While stationary oxygen concentrators are designed to be used in a fixed location, manufacturers are increasingly incorporating features that make them more portable and easier to move around. For example, some devices now feature wheels or lightweight designs that make them easier to transport from room to room. Along with this, stationary oxygen concentrators are increasingly incorporating smart technology features, such as connectivity to mobile devices or cloud-based platforms that allow patients and caregivers to monitor oxygen levels and adjust settings remotely. This can improve patient outcomes and reduce the need for in-person visits. Consequently, the growing trends and developments are also attributed to support the expansion of the market which will aid the stationary oxygen concentrators market growth in the future.
Stationary Oxygen Concentrators Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into molecular sieve oxygen concentrator, macromolecule oxygen permeable membrane oxygen concentrator, electrolysis oxygen concentrator, chemical oxygen concentrator, and electronic oxygen concentrator.
- By Application Analysis
Based on application, the market can be divided into hospital, home, and others.
Driving Factors
"Increasing Prevalence of Respiratory Diseases Fuel the Demand for Oxygen Concentrators"
The market has several driving factors of the market; however, the increasing prevalence of respiratory diseases is a major factor to augment the demand for these stationary oxygen devices. The rising incidence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and pneumonia is increasing around the world which is propelling the demand for oxygen therapy devices such as stationary oxygen concentrators.
"Growing Geriatric Population Around the World Aid the Growth of the Market"
The growth of the market is accelerating due to the growing geriatric population. Since the world's population is aging, older adults are more likely to develop respiratory diseases that require oxygen therapy. Thus, as the number of older adult’s increases, so too does the demand for stationary oxygen concentrators. Accompanied by this, advances in technology have led to the development of more efficient, reliable, and user-friendly stationary oxygen concentrators, which have helped to increase the adoption of these devices and expand the market’s possibilities.
Restraining Factors
"Regulatory Hurdles & High Cost of the Devices Can the Halt Market Growth"
Although, the market is booming over the last few years; however, there are some challenges that may affect the market development, such as regulatory hurdles, the high cost of the devices, and the availability of alternative treatment options such as portable oxygen concentrators and liquid oxygen systems. Therefore, the growth of the market can be impeded by these factors.
Stationary Oxygen Concentrators Market Regional Insights
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"Asia Pacific Leads the Market with Increasing Healthcare Expenditures & a Large Population"
According to market research, the Asia-Pacific region is a rapidly growing market for stationary oxygen concentrators and likely to lead the market globally. Due to a large population, increasing healthcare expenditures, and a rising incidence of respiratory diseases in the region, is predicted to dominate the market. In addition to this, China is the leading country in the market, about half of the stationary oxygen concentrators market shares are held by China, which significantly contributes to the market revenue.
Key Industry Players
"Key Players Offers a Range of Portable Concentrators for On-the-go Use to Lead Market Competition"
The market is highly competitive, with several established players such as Philips Healthcare, Invacare Corporation, Chart Industries, Foshan Kaiya as well as several smaller companies. These companies are some of the prominent brands in the market which stimulate the growth of the market with their profit revenue. For instance, Invacare is a leading manufacturer of home medical equipment, including stationary oxygen concentrators. The company's stationary oxygen concentrators feature advanced technologies such as quiet operation, energy efficiency, and user-friendly interfaces. Moreover, these notable brands offer a range of devices designed for home use, as well as portable oxygen concentrators for on-the-go use which boost the demand for the devices.
List of Market Players Profiled
- Invacare
- Chart (Airsep)
- Teijin
- Philips
- Linde
- GF Health Products
- Devilbiss
- Inova Labs
- Drive Medical
- Inogen
- Nidek Medical
- Yuwell
- AVIC Jianghang
- Foshan Kaiya
- Haiyang Zhijia
- Longfei Group
- Shenyang Canta
- Beijing North Star
- Shenyang Siasun
- Beijing Aoji
- Gaoxin Huakang
- Yiyangyuan
- Beijing Shenlu
- Foshan Keyhub
Report Coverage
This report defines the stationary oxygen concentrators market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
Frequently Asked Questions
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What CAGR is the stationary oxygen concentrators market expected to exhibit by 2028?
The stationary oxygen concentrators market is expected to exhibit a CAGR of 7.1% by 2028.
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What is the leading region in the stationary oxygen concentrators market?
Asia Pacific leads the stationary oxygen concentrators market due to its large population and increasing healthcare expenditures in the region.
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What are the key players in the stationary oxygen concentrators market?
Invacare, Chart (Airsep), Teijin, Philips, Linde, GF Health Products, Devilbiss, Inova Labs, Drive Medical, Inogen, Nidek Medical, Yuwell, AVIC Jianghang, Foshan Kaiya, Haiyang Zhijia, Longfei Group, Shenyang Canta, Beijing North Star, Shenyang Siasun, Beijing Aoji, Gaoxin Huakang, Yiyangyuan, Beijing Shenlu, and Foshan Keyhub are top players in the stationary oxygen concentrators market.
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What are the key driving factors of the global stationary oxygen concentrators market?
Increasing prevalence of respiratory diseases, growing geriatric population, and advancement in technology are the driving factor of the stationary oxygen concentrators market.
