Portable Oxygen Concentrator Market

The global portable oxygen concentrator market accounted for USD 2.12 billion in 2023 and is expected to reach USD 6.45 billion by 2034 with a CAGR of 10.63% during the forecast period 2024-2034. The market will grow as a result of factors such as the increasing prevalence of respiratory disorders, advancements in technology and portability, favorable reimbursement policies, and growing acceptance and awareness.

The demand for portable oxygen concentrators has increased due to the rising prevalence of respiratory conditions such as asthma, sleep apnea, and chronic obstructive pulmonary disease (COPD). These devices provide better quality of life, increased mobility, and oxygen maintenance for people suffering from respiratory disorders. For instance, Inogen Inc. introduced the Inogen One G5 oxygen concentrator in April 2022; this device is renowned for its efficiency and portability.

By technology, the pulse flow segment accounted for the highest revenue-grossing segment in the global portable oxygen concentrator market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for compact and portable respiratory solutions, technological advancements, and a rising prevalence of respiratory disorders among aging populations. For instance, Philips stated that its SimplyGo Mini portable oxygen concentrator would be available in the US starting in January 2022. The device's mobility and ease of use are intended to help people with respiratory problems receive oxygen therapy.

By application, the chronic obstructive pulmonary disease (COPD) segment accounted for the highest revenue-grossing segment in the global portable oxygen concentrator market in 2023 owing to the growing prevalence of COPD worldwide, coupled with the increasing adoption of portable oxygen concentrators as a convenient and effective treatment option for COPD patients. For instance, Caire introduced the LifeStyle portable oxygen concentrator in the US in June 2022, significantly enhancing the quality of life for oxygen users all over the world. Additionally, the sleep apnea segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing awareness about sleep apnea as a significant health concern, coupled with increasing diagnosis rates and the preference for non-invasive treatment options like portable oxygen concentrators.

By end-user, the homecare settings segment accounted for the highest revenue-grossing segment in the global portable oxygen concentrator market in 2023 owing to the growing preference for home-based healthcare solutions, increased comfort and convenience for patients, and cost-effectiveness compared to hospital-based care. For instance, ARYA BioMed Corp introduced the ARYA Portable Oxygen Concentrator in the US in April 2022. The powerful battery-powered system of ARYA's portable oxygen concentrator charges fast, and it is remarkably light. Additionally, the hormone replacement therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness about hormone imbalances, advancements in hormone replacement therapies, and a rising aging population seeking treatments for age-related hormonal issues.

North American region is anticipated to have the highest revenue share during the forecast period owing to the robust healthcare infrastructure, high prevalence of respiratory disorders, favorable reimbursement policies, and increasing adoption of advanced medical technologies in the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing healthcare expenditure, rising awareness about respiratory health, expanding geriatric population, and improving access to medical devices in emerging economies within the region. For instance, in January 2023, MGC Diagnostics Holdings, Inc., a St. Paul, Minnesota-based company, was acquired by CAIRE Inc., a worldwide manufacturer of oxygen therapy and on-site generating equipment. Through the acquisition, CAIRE's presence and dedication to diagnostic technologies were reinforced, which improved the organization's ability to serve patients at every stage of the evolution of pulmonary disease.

This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.

Report Scope:

• Base Year: 2023
• Forecast Period: 2024-2034
• Study Coverage
• Market Forecast by Technology, Application, and End-User
• Market Forecast for 5 Regions and 17+ Countries
• North America (U.S. and Canada)
• Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
• Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
• Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
• MEA (South Africa, GCC, Rest of MEA)
• Exhaustive Company Profiles of the Top 10+ Major Market Players

Segmentation: Portable Oxygen Concentrator Market Report 2023 - 2034

Portable Oxygen Concentrator Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)

• Continuous Flow
• Pulse Flow

Portable Oxygen Concentrator Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)

• Chronic Obstructive Pulmonary Disease (COPD)
• Asthma
• Respiratory Distress Syndrome
• Others

Portable Oxygen Concentrator Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)

• Hospitals
• Homecare Settings
• Others

Portable Oxygen Concentrator Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of LATAM
• Middle East & Africa
• South Africa
• GCC
• Rest of MEA