Medical Oxygen Concentrators Market

COVID-19 Gives Global Medical Oxygen Concentrators Market a Boost Beyond Imagined

The Medical Oxygen Concentrators Market  is valued at USD 2.2  Bn in 2026 and is projected to reach USD 3.63  Bn,  growing at a CAGR of 7% by 2033.The 2020 outbreak of COVID-19 resulted in a huge opportunity for the global medical concentrators market. As the pandemic waves worsened the situation, the demand for medical oxygen concentrators shot up beyond supply options. The lopsided demand and supply situation did create a havoc, stirring concerns about healthcare infrastructure, but also showed the opportunity for the market. Increasing demand for critically ill patients with acute respiratory syndrome kept the sentiment bullish in the global medical oxygen concentrators market in the last two years. Analysts at Fairfield Market Research state that the trend will continue between the forecast years of 2022 and 2026 as healthcare systems undergo an overhaul.

The pandemic showed that the base oxygen needs in an area depends on the capacity of the health system and the number of hospital beds (intensive care unit (ICU) vs. non-ICU) in the system. Typically, large-scale industrial gas plants supply concentrated oxygen in gaseous or liquid form to various health settings. However, in geographies with lower volume demands, air separation technologies viz. pressure swing adsorption (PSA) or volume swing adsorption (VSA) are used to create medical oxygen at scale. Low- and middle-income countries (LMICs) are especially struggling to fill the supply-demand gap.

Broad Transitions Underway in LMICs Indicative of Potential for Medical Oxygen Concentrators Market

Tectonic shifts in LMICs point towards the fact that need for oxygen services will rise with time. Growing demand for oxygen therapy is expected to boost growth of the global medical oxygen concentrators market. Demographic and epidemiological shifts are causing noncommunicable diseases (NCDs) amongst children. There are predictions that by 2050 most of the population over the age of 60 years will be living in LMICs.

It is also predicted that 50% of world’s children population will be in Africa by end of the century. Funding for health systems is shifting to domestic resources. Earlier, donors were paying for a large chunk of total health system costs, whereas now, many countries are becoming self-reliant, which causes a concern for oxygen access as countries will increasingly prioritize allocation of their limited budget.

COVID-19 Pandemic Outbreak Exposed Fragility of Global Oxygen Supply Systems

Data from China suggests that although a majority of COVID-19 patient population has mild illness (40%) or moderate illness (40%), about 15% of them have severe illness requiring oxygen therapy, and roughly 5% are critically ill requiring emergency treatment at ICUs. According to the PATH COVID-19 Oxygen Needs Tracker, as of January 2021, LMICs in aggregate required 14, 57,721 cylinders of 7 m^3 capacity. In India, experts observe that the demand has escalated from 40,000 annually to 30,000-40,000 a month, specifically during the second wave of COVID-19. The number of manufacturers is however inadequate to meet such an exploding demand pattern.

The spike in demand for medical oxygen had to be met from a constrained pre-pandemic supply, with the shortfall mostly evident in Africa. The Access to COVID Tools Accelerator (ACT-Accelerator) estimates US$ 1.6 Bn in funding over the next 12 months to meet short-term oxygen demand for the most challenged nations. The rise of single-payer health systems resulted in broader scale-up of oxygen, as it is an imperative treatment for many indications. Use of oxygen in the treatment of multiple indications could justify further investment in global medical oxygen concentrator market and scale-up efforts from both an epidemiologic and an economic perspective.

Growing Need for Continuous Oxygen Supply to Boost Prospects of Continuous Flow Concentrators

Rising prevalence of respiratory conditions such as chronic obstructive pulmonary disease (COPD) and asthma has led to a growing number of critical care cases that require continuous oxygen supply. The demand is thus on the rise in critical care units of hospitals. Continuous flow units are better equipped for patients with sleep apnea or other conditions wherein oxygen is typically required during night. Continuous flow dose delivery concentrators will continue to gain preference over pulse mode delivery concentrators.

Demand Spike amid COVID-19 Pandemic Pinpoints Robust Supply to Home Care Settings

A growing number of COVID-19 patients putting unprecedented burden on healthcare service providers. The unavailability of beds and critical care support has resulted in many patients with mild symptoms to be home-isolated and get treated in home care settings rather than at any hospital settings. This has been boosting the demand for low-cost portable oxygen concentrators at home care settings. Moreover, there are strong indications that portable medical oxygen concentrators would be treated as defibrillators that would be available at social and commercial spaces in the near future.

Asia Pacific Leads Global Medical Oxygen Concentrators Market as  Respiratory Ailments Rise

Asia Pacific, especially highly populous economies such as China, and India, has been witnessing the deadly impacts of pollution, respiratory infections, and tobacco smoking. In 2017, nearly 75% of all deaths were linked with chronic respiratory condition(s). This data clearly points to the critical need for medical oxygen concentrators in the region, and a massive revenue generation opportunity for key market players in the global landscape.

Key Companies in Global Medical Oxygen Concentrators Market

Key players in the global medical oxygen concentrators market are

• Philips Healthcare (Koninklijke Philips N.V.)
• Invacare Corporation
• Inogen, Inc.
• Drive DeVilbiss Healthcare
• CAIRE Inc. (now part of Inogen)
• AirSep (a division of Chart Industries)
• Chart Industries, Inc.
• ResMed Inc.
• Fisher & Paykel Healthcare Limited
• OXLife (Oxygen Concentrator Manufacturers)
• Nidek Medical Products
• Devilbiss Healthcare (Drive DeVilbiss)
• Precision Medical, Inc.
• EverFlo (Philips brand)
• Beijing Pride Medical Technology Co., Ltd.

Global Medical Oxygen Concentrator Market is Segmented as Below:

By Modality

• Portable
• Stationary

By Technology

• Pulse Flow
• Continuous Flow

By End-user

• Hospitals
• Home Care
• Ambulatory Surgical Centers

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa