DUBLIN, Aug. 14, 2023 /PRNewswire/ — The “North America Oxygen Concentrators Market Size, Share & Trends Analysis Report By Product (Portable, Fixed), By Technology (Continuous Flow, Pulse Flow), By Application, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The North American oxygen concentrators market size is projected to reach USD 1.94 billion by 2030 and is anticipated to witness a CAGR of 5.4% from 2023 to 2030
The market’s growth is driven by various factors, such as advanced product offerings, expanding business operations, increasing respiratory disease incidence, and a rising preference for home-based oxygen therapy. Moreover, the market is poised to benefit from the growing demand for portable oxygen concentrators, which have seen a significant increase in adoption.
From 2015 to 2021, the U.S. market witnessed a rise in portable oxygen concentrator penetration from 8% to 22%, as per U.S. Medicare claims data. This trend is expected to drive market growth in the forecast period. The COVID-19 pandemic had a limited positive impact on the regional market.
Due to the surge in hospitalizations, medical facilities faced challenges in providing respiratory support to critically ill patients due to the limited availability of ventilators. As a result, the demand for oxygen concentrators as an alternative solution increased. In addition, government initiatives to raise patient awareness have contributed to market growth. For instance, in June 2021, the U.S. government, through the U.S. Agency for International Development (USAID), donated 50 oxygen concentrators to Haiti to combat the COVID-19 pandemic.
This contribution aligns with broader initiatives to enhance the medical infrastructure and provide advanced technology and oxygen equipment to support healthcare in Haiti. Furthermore, government funding for healthcare infrastructure development is expected to fuel the demand for advanced and cost-effective devices.
Integrating Internet of Things (IoT) technology has revolutionized the medical device industry, providing significant benefits compared to traditional methods. IoT-enabled oxygen concentrators enable remote monitoring and management, allowing healthcare providers to monitor oxygen levels in real time and adjust the flow rate for better patient outcomes.
This integration is projected to drive market growth in the forecast period. Prominent players in the industry, including Respironics, Inogen, and Caire Medical, are implementing strategic initiatives to expand their product offerings and reach.
These initiatives include acquisitions, collaborations, expansions, and new product launches. For instance, Inogen announced in a press release in January 2023 that the company received clearance from the U.S. FDA for their new portable oxygen concentrator, Rove 4, on December 9, 2022. This advancement would further solidify Inogen’s position in the portable oxygen concentrators market.
North America Oxygen Concentrators Market Report Highlights
- In the product segment, the Portable Medical Oxygen Concentrators (POCs) segment held the largest market share of 53.8% in terms of revenue in 2022. This dominance is owing to the large number of benefits associated with POCs
- In the application segment, the home care segment dominated the market and accounted for 66.1% of the revenue share in the market in 2022. The key factors responsible for the dominance are the increasing demand for home healthcare therapies and changing patients’ preferences for comfortable and convenient therapy
- On the basis of technology, the continuous flow technology segment dominated the market with a revenue share of 61.7% in 2022. The segment growth was attributed to rapid technological advancements and a high number of patients suffering from respiratory disorders
- Industry players are focusing on developing innovative products and adopting advanced technologies
- Recent Developments & Impact Analysis, By Key Market Participants
- Company/Competition Categorization
- Company Market Position and Market Share Analysis
- Inogen, Inc.
- Respironics (a subsidiary of Koninklijke Philips N.V.)
- Invacare Corporation
- Caire Medical (a subsidiary of NGK Spark Plug)
- DeVilbiss Healthcare (a subsidiary of Drive Medical)
- O2 Concepts
- Nidek Medical Products, Inc.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product and Technology Outlook
2.3. SApplication Outlook
2.4. Competitive Insights
Chapter 3. North America Oxygen Concentrators Market Variables, Trends, & Scope
3.1. Oxygen Concentrators Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Ancillary Market Outlook
3.2. Market Dynamics
3.3. North America Oxygen Concentrators Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PEST Analysis
3.3.3. Regulatory and Reimbursement Framework
3.3.4. COVID-19 Impact Analysis
3.3.5. Estimated Prevalence of Key Conditions, by Country (2018 to 2030)
22.214.171.124. Interstitial Lung Disease
Chapter 4. North America Oxygen Concentrators Market: Product Estimates & Trend Analysis
4.1. Definitions and Scope
4.2. North America Oxygen Concentrators Market: Product Movement Analysis, 2022 & 2030 (USD Million)
4.3. Portable Medical Oxygen Concentrators
4.4. Fixed Medical Oxygen Concentrators
Chapter 5. Chapter 5 North America Oxygen Concentrators Market: Technology Estimates & Trend Analysis
5.1. Definitions & Scope
5.2. North America Oxygen Concentrators Market: Technology Movement Analysis, 2022 & 2030 (USD Million)
5.3. Continuous Flow
5.4. Pulse Flow
Chapter 6. North America Oxygen Concentrators Market: Application Estimates & Trend Analysis
6.1. Definitions & Scope
6.2. North America Oxygen Concentrators Market: Application Movement Analysis, 2022 & 2030 (USD Million)
6.3. Home Care
6.4. Non-home Care
Chapter 7. North America Oxygen Concentrators Market: Regional Estimates & Trend Analysis
7.1. North America market share analysis, 2022 & 2030
7.2. North America Market Dashboard
7.3. North America Market Snapshot
7.4. North America Market Share and Leading Players, 2022
7.5. Market Size, & Forecasts, Volume and Trend Analysis, 2018 to 2030
For more information about this report visit https://www.researchandmarkets.com/r/v575lm
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