The 120 pages report segments the homecare oxygen concentrators market by product (portable and stationary) and geography (North America, Europe, Asia, and ROW)
NEW YORK, Aug. 18, 2022 /PRNewswire/ -- The global homecare oxygen concentrators market size is expected to grow by USD 1.21 billion between 2020 and 2025. The market witnessed a YOY growth of 14.83% in 2021 and the growth momentum is expected to accelerate at a CAGR of about 15% during the forecast period. The report provides detailed insights into the market growth across segments and geographies. Understand the scope of the full report. Download Sample PDF Report Now
By product, the portable homecare oxygen concentrators segment generated significant growth opportunities for market players in 2021. Factors such as ease of travel, compactness, and long-lasting battery life are increasing their adoption among end-users. Also, the growing demand for flexible, compact, and user-friendly products are further accelerating the growth of the market in the segment.
By region, the market observed significant growth in North America in 2021. The availability of advanced healthcare facilities, rising healthcare spending, and the presence of government bodies such as Medicaid that help with medical costs for individuals with limited income and resources are driving the growth of the regional market. The high prevalence of respiratory diseases in the US and Canada is also contributing to the growth of the homecare oxygen concentrators market in North America.
The following factors are expected to drive the growth of the market during the forecast period:
The prevalence of various respiratory diseases is increasing significantly across the globe. This can be attributed to a rise in risk factors such as allergy, pollution, and smoking. In addition, many individuals face shortness of breath while performing non-strenuous activities such as walking up a flight of stairs, playing golf, or walking uphill. In addition, the rise in the aging population, especially in countries such as Japan, the UK, the US, and Germany has further increased the prevalence of various respiratory diseases such as tuberculosis, COPD, and bronchial asthma. All these factors have necessitated the need for advanced medical technologies such as homecare oxygen concentrators, thereby driving the growth of the market.
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Homecare Oxygen Concentrators Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 15%
Market growth 2021-2025
USD 1.21 billion
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 36%
Key consumer countries
US, China, UK, India, and Germany
Leading companies, competitive strategies, consumer engagement scope
Besco Medical Ltd., Drive DeVilbiss Healthcare Ltd., GCE Holding AB, Inogen Inc., Koninklijke Philips NV, Nidek Medical Products Inc., Precision Medical Inc., ResMed Inc., and Teijin Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Five Forces Analysis
Market Segmentation by Product
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