North America Oxygen Concentrators Market: Home Care Segment Dominated And Accounted For The Largest Revenue Share

 North America Oxygen Concentrators Industry Overview

The North America oxygen concentrators market size is expected to reach USD 2.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.7% from 2021 to 2028. The growing prevalence of Chronic Obstructive Pulmonary Disease (COPD) along with other lung diseases is a major parameter driving the market. According to the Centers for Disease Control and Prevention, 9 million people suffered from chronic bronchitis and 3.8 million from emphysema in 2018 in the U.S. Moreover, 3.8 million people in Canada had asthma and 2.0 million people had COPD in 2018, according to the Government of Canada. The use of supplemental oxygen increases the survival rate of COPD patients. Thus, the increasing dependence of COPD patients on O2 concentrators is driving the market.

 

The increasing number of initiatives to promote awareness of lung diseases as well as the importance of O2 generators are contributing to the growth of the market. For instance, the American Lung Association works to create awareness of COPD and increase federal funding for research and development. Furthermore, the National Institute of Health sponsors a nationwide awareness campaign “Learn More, Breathe Better”, which encourages the population over the age of 45 years who are at risk of experiencing symptoms of COPD to have a diagnostic breathing test, and consult the medical professionals for treatment options. Moreover, technological advancements and the easy availability of a large variety of O2 concentrators are driving the market. For instance, in July 2020, GCE introduced a series of Fixed Medical Oxygen Concentrators including M50, EC-E100, and OC-E 80 for patients requiring long-term oxygen therapy.

The sudden outbreak of the COVID-19 pandemic has increased the demand for respiratory care products. Low blood oxygen level is one of the effects of COVID-19 and patients require oxygen support for recovery. Additionally, the U.S. Food and Drug Administration has allowed the usage of O2 generators under the Emergency Use Authorization scheme. This, in turn, is estimated to drive the market.


North America Oxygen Concentrators Market Segmentation

Grand View Research has segmented the North America oxygen concentrators market on the basis of product, application, technology, and region:

Based on the Product Insights, the market is segmented into Portable, and Fixed.

  • The portable segment dominated the market and held the largest revenue share of 51.6% in 2020. In addition, the portable segment is estimated to witness the fastest growth rate during the forecast period. This is owing to the high demand for lightweight and compact concentrators that can be used in different places including offices, airplanes, and shopping malls, among others. 

 

  • The fixed segment is estimated to witness slower growth as compared to the portable segment. It offers a stable oxygen source, higher delivery capacity, and is compatible with bed-ridden patients. The increasing geriatric population, the presence of a huge long-term patient base, and rising demand for fixed medical oxygen concentrators for bedridden patients in hospitals, home care centers, and long-term care centers are estimated to drive the segment over the forecast period.

 

Based on the Application Insights, the market is segmented into Homecare, and Non-Homecare.

  • The home care segment dominated the market and held the largest revenue share of 64.9% in 2020. This is attributed to the increasing number of patients suffering from COPD along with the rising demand for home healthcare therapies. Moreover, as COPD is mainly diagnosed in middle-aged and older populations, therapies with home oxygen concentrators are prescribed by physicians for shortness of breath. 

 

  • The non-homecare segment witnessed a lucrative demand in 2020 due to the rapid spread of the COVID-19 pandemic. The sudden outbreak of COVID-19 has significantly increased the demand for oxygen therapy products, which in turn is estimated to drive the segment potential in the near future. Moreover, the increasing prevalence of respiratory disorders and the geriatric population is driving the segment growth.

 

Based on the Technology Insights, the market is segmented into Continuous Flow, and Pulse Flow.

  • The continuous flow technology segment dominated the North American oxygen concentrators market and accounted for the largest revenue share of 51.5% in 2020. This is attributed to the easy availability of a large number of continuous flow oxygen concentrators, rapid technology development, and the growing prevalence of patients suffering from long-term respiratory disorders.

 

  • The pulse flow segment is expected to grow at a significant growth rate over the forecast period owing to its advantages such as lightweight, high mobility, and suitability for patients having an active lifestyle. These concentrators are ideal for treating respiratory conditions requiring low liters of oxygen delivered per minute. 

 

Key Companies & Market Share Insights

Key players are adopting various strategic initiatives to gain a competitive advantage in the market. For instance, in April 2019, Inogen launched Inogen One G5, a portable oxygen concentrator for home care settings or traveling. Some of the prominent players in the North America oxygen concentrators market include:

  • Invacare Corporation
  • Philips Healthcare
  • AirSep Corporation
  • DeVilbiss Healthcare
  • Nidek Medical Products, Inc.
  • Inogen, Inc.
  • Inova Labs, Inc.
  • O2 Concepts

 

Order a free sample PDF of the North America Oxygen Concentrators Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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