Dublin, July 11, 2024 (GLOBE NEWSWIRE) -- The "North America Oxygen Concentrators Market Size, Share & Trends Analysis Report by Product (Portable, Fixed), Application, Technology (Continuous Flow, Pulse Flow), Country, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The North America oxygen concentrators market size is anticipated to reach USD 1.9 billion by 2030 and is projected to grow at a CAGR of 5.4% from 2024 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.
For instance, in May 2022, Sanrai International's collaboration with Drive DeVilbiss resulted in the launch of the 1060AW 10L Stationary Oxygen Concentrator, highlighting the industry's commitment to innovation. 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.
The 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.
Notable players in the industry, such as Inogen 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 portable oxygen concentrators market.
North America Oxygen Concentrators Market Report Highlights
- The portable medical oxygen concentrators (POCs) segment led the market with the largest revenue share of 54.8% in 2023. This dominance is owing to the large number of benefits associated with POCs
- Based on application, the home care segment led the market with the largest revenue share of 66.7% in 2023. The key factors responsible for the dominance are the increasing demand for home healthcare therapies and changing patients' preferences for comfortable and convenient therapy
- Based on technology, the continuous flow technology segment led the market with the largest revenue share of 61.6% in 2023, owing to rapid technological advancements and the rising number of patients suffering from respiratory disorders
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.3 Billion |
| Forecasted Market Value (USD) by 2030 | $1.9 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | North America |
North America Oxygen Concentrators Market Dynamics
Drivers
- Rising Prevalence of Respiratory Diseases
- Launch of New Generation Products and Increasing Business Expansion
- Rise In Demand For Portable and Homecare Oxygen Concentrators
- Growing Preference For Home-Based Oxygen Therapy
Restraints
- High Cost Associated With Oxygen Concentrators
North America Oxygen Concentrators Market Analysis Tools
- PORTER'S
- PESTEL Analysis
Regulatory Framework and Reimbursement Scenario
- North America
- U.S.
- Canada
- Rest of The World (Europe, Asia Pacific, Latin America, MEA)
COVID-19 Impact Analysis
- Impact Analysis During The Covid Period
- Future Impact Analysis
- COVID-19 Impact on Notable Market Players
- Philips
- React Health (Respiratory Product Line From Invacare Corporation)
- Inogen, Inc.
Estimated Prevalence of Key Conditions, By Country (2018 To 2030)
- COPD
- Cardiovascular Disease
- Interstitial Lung Disease
Disease States Impacting Long-Term Oxygen Therapy
- Chronic Obstructive Pulmonary Disease (COPD)
- Cystic Fibrosis
- Lung Cancer
- Pneumonia
- Sleep Apnea
- Pulmonary Fibrosis
Company Profiles
- Inogen, Inc.
- Respironics
- React Health (Respiratory Product Line From Invacare Corporation)
- Caire Medical (Acquired By Niterra Co., Ltd. Formerly Known As NGK SPARK PLUG CO.,LTD.)
- Devilbiss Healthcare (A Subsidiary Of Drive Medical)
- GCE
- Nidek Medical Products, Inc
- O2 Concepts
- Rhythm Healthcare
- Medacure Inc.
- GF Health Products, Inc.
- Direct Supply
- Compass Health Brands
For more information about this report visit https://www.researchandmarkets.com/r/v1k57k
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