The global oxygen concentrators market is expected to grow from US$3.234 billion in 2025 to US$4.122 billion in 2030, at a CAGR of 4.97%.
Patients suffering from lung problems or lung diseases use oxygen concentrators to ensure a smoother flow of oxygen in the body. Aged people having aged-linked problems also use oxygen concentrators. Further, oxygen concentrators are used in hospitals during and after surgery when the patient’s body becomes weak and is unable to breathe in enough air. The prime reason which is driving the market growth during the forecasted period is predicted to be increasing cases of lung problems and lung diseases that will require the patient to take external help. Technological enhancement in the industry is predicted to open new market opportunities, hence driving significant growth.
One of the prime reasons driving the market growth of oxygen concentrators is increasing instances of lung problems and diseases, which require the patient to take external/ artificial help. A report by World Health Organization (WHO) states that lung cancer is the leading cause of lung-linked deaths and takes away the lives of more than 1.8 million people, worldwide, annually. Data from the American Cancer Society shows that fresh cases of lung cancer in the region are increasing at a significant rate with over 2.21 million new cases of lung cancer discovered in 2020. These cases further increased to over 2.35 million in 2021. Rising pollution coupled with increasing smoking and tobacco consumption has increased the chances of lung diseases, especially lung cancer. It is anticipated that the rise in disease cases will surge the demand for oxygen concentrators during the forecasted period.
The global oxygen concentrator market is divided, based on type, into portable and fixed concentrators. during the forecasted period, portable concentrators are projected to increase at the fastest rate to attain a large share of the market. Portable oxygen concentrators are enhanced and compact, low-weight, easy-to-carry, oxygen-producing equipment which is gaining preference among patients suffering from lung problems. Owing to their compact size and low weight, portable oxygen concentrators are convenient to carry and give the user independence to move around, by carrying these concentrators in a backpack or through a trolley. Its compact structure requires less space, making it transportable. Further, portable concentrators have the capability to generate oxygen equal to fixed concentrators, hence not sacrificing the quality.
Another key factor that is anticipated to provide robust demand in the oxygen concentrator market is the growing proportion of the aged population in the overall demography. The World Bank Database shows that the aged population, preciously, people aged 65 and above, has increased from 523.579 million in 2010 to 722.133 million in 2020, accounting for around 9% of total demography. However, the United Nations predicts that this proportion will increase to 15% to around 1.5 billion people by 2050. It is expected that the increased aged population will surge the demand for oxygen concentrators and hence the market has a promising growth prospect.
The global oxygen concentrator market is segmented, based on the end-user industry, into hospitals, ambulatory care centers, and home care settings. Fixed oxygen concentrators are widely used in hospitals and ambulatory care centers. In a hospital, fixed oxygen concentrators are placed alongside the bed of the patient, and are also used at the time of and after surgeries.
However, in a home care setting, portable oxygen concentrators are preferred since they provide patient mobility. Furthermore, the rising medical prices for a patient coupled with the innovation in the industry and the launch of portable concentrators have enabled patients to cut short unnecessary hospital costs of beds and other accessories, by adopting a homecare setting with the help of portable concentrators.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Oxygen Concentrators Market Size in 2025 | US$3.234 billion |
| Oxygen Concentrators Market Size in 2030 | US$4.122 billion |
| Growth Rate | CAGR of 4.97% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Oxygen Concentrators Market | |
| Customization Scope | Free report customization with purchase |
The oxygen concentrators market is analyzed into the following segments: