PUBLISHER: Grand View Research | PRODUCT CODE: 1321379
PUBLISHER: Grand View Research | PRODUCT CODE: 1321379
North America Oxygen Concentrators Market Size, Share & Trends Analysis Report By Product (Portable, Fixed), By Technology (Continuous Flow, Pulse Flow), By Application, By Region, And Segment Forecasts, 2023 - 2030
North America Oxygen Concentrators Market Growth & Trends
The North American oxygen concentrators market size is projected to reach USD 1.94 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to witness a CAGR of 5.4% from 2023 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. In addition, 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. Furthermore, government funding for healthcare infrastructure development is expected to fuel the demand for advanced and cost-effective devices. Integrating Internet of Things (IoT) technology has revolutionized the medical device industry, providing significant benefits compared to traditional methods. IoT-enabled oxygen concentrators enable remote monitoring and management, allowing healthcare providers to monitor oxygen levels in real time and adjust the flow rate for better patient outcomes.
This integration is projected to drive market growth in the forecast period. Prominent players in the industry, including Respironics, Inogen, and Caire Medical, 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 the portable oxygen concentrators market.
North America Oxygen Concentrators Market Report Highlights
- In the product segment, the Portable Medical Oxygen Concentrators (POCs) segment held the largest market share of 53.8% in terms of revenue in 2022. This dominance is owing to the large number of benefits associated with POCs
- In the application segment, the home care segment dominated the market and accounted for 66.1% of the revenue share in the market in 2022. The key factors responsible for the dominance are the increasing demand for home healthcare therapies and changing patients' preferences for comfortable and convenient therapy
- On the basis of technology, the continuous flow technology segment dominated the market with a revenue share of 61.7% in 2022. The segment growth was attributed to rapid technological advancements and a high number of patients suffering from respiratory disorders
- Industry players are focusing on developing innovative products and adopting advanced technologies
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definition
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.1.1. Purchased database
- 1.3.1.2. GVR's internal database
- 1.3.2. Primary Research
- 1.3.1. Information Procurement
- 1.4. Research Methodology
- 1.4.1. Approach - 1: Commodity Flow Analysis
- 1.4.2. Approach - 2: Volume Price Analysis
- 1.4.3. Segment Level Market Estimation
- 1.4.4. U.S. Specific And Other Research Methodology
- 1.5. Research Scope and Assumptions
- 1.6. List to Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook (Product and Technology)
- 2.3. Segment Outlook (Application)
- 2.4. Competitive Insights
Chapter 3. North America Oxygen Concentrators Market Variables, Trends, & Scope
- 3.1. Oxygen Concentrators Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. North America Oxygen Concentrators Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PEST Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.3. Regulatory and Reimbursement Framework
- 3.3.4. COVID-19 Impact Analysis
- 3.3.4.1. COVID-19 Impact On Notable Market Players
- 3.3.4.1.1. Philips
- 3.3.4.1.2. Invacare Corporation
- 3.3.4.1.3. Inogen, Inc.
- 3.3.5. Estimated Prevalence of Key Conditions, by Country (2018 to 2030)
- 3.3.5.1. COPD
- 3.3.5.2. Interstitial Lung Disease
- 3.3.1. Industry Analysis - Porter's
Chapter 4. North America Oxygen Concentrators Market: Product Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.2. North America Oxygen Concentrators Market: Product Movement Analysis, 2022 & 2030 (USD Million)
- 4.3. Portable Medical Oxygen Concentrators
- 4.3.1. North America portable medical oxygen concentrators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Fixed Medical Oxygen Concentrators
- 4.4.1. North America fixed medical oxygen concentrators market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Chapter 5 North America Oxygen Concentrators Market: Technology Estimates & Trend Analysis
- 5.1. Definitions & Scope
- 5.2. North America Oxygen Concentrators Market: Technology Movement Analysis, 2022 & 2030 (USD Million)
- 5.3. Continuous Flow
- 5.3.1. North America continuous flow market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Pulse Flow
- 5.4.1. North America pulse flow market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. North America Oxygen Concentrators Market: Application Estimates & Trend Analysis
- 6.1. Definitions & Scope
- 6.2. North America Oxygen Concentrators Market: Application Movement Analysis, 2022 & 2030 (USD Million)
- 6.3. Home Care
- 6.3.1. North America home care market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4. Non-home Care
- 6.4.1. North America non-home care market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7. North America Oxygen Concentrators Market: Regional Estimates & Trend Analysis
- 7.1. North America market share analysis, 2022 & 2030
- 7.2. North America Market Dashboard
- 7.3. North America Market Snapshot
- 7.4. North America Market Share and Leading Players, 2022
- 7.5. Market Size, & Forecasts, Volume and Trend Analysis, 2018 to 2030
- 7.6. North America
- 7.6.1. Market estimates and forecast, 2018 - 2030 (Value & Volume)
- 7.6.2. U.S.
- 7.6.2.1. Market estimates and forecast, 2018 - 2030 (Value & Volume)
- 7.6.3. Canada
- 7.6.3.1. Market estimates and forecast, 2018 - 2030 (Value & Volume)
Chapter 8. Competitive Analysis
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Company Market Position and Market Share Analysis
Chapter 9. Competitive Landscape
- 9.1. Company Profiles
- 9.1.1. Inogen, Inc.
- 9.1.1.1. Company overview
- 9.1.1.2. Financial performance
- 9.1.1.3. Product benchmarking
- 9.1.1.4. Strategic initiatives
- 9.1.2. Respironics (a subsidiary of Koninklijke Philips N.V.)
- 9.1.2.1. Company overview
- 9.1.2.2. Financial performance
- 9.1.2.3. Product benchmarking
- 9.1.2.4. Strategic initiatives
- 9.1.3. Invacare Corporation
- 9.1.3.1. Company overview
- 9.1.3.2. Financial performance
- 9.1.3.3. Product benchmarking
- 9.1.3.4. Strategic initiatives
- 9.1.4. Caire Medical (a subsidiary of NGK Spark Plug)
- 9.1.4.1. Company overview
- 9.1.4.2. Financial performance
- 9.1.4.3. Product benchmarking
- 9.1.4.4. Strategic initiatives
- 9.1.5. DeVilbiss Healthcare (a subsidiary of Drive Medical)
- 9.1.5.1. Company overview
- 9.1.5.2. Financial performance
- 9.1.5.3. Product benchmarking
- 9.1.5.4. Strategic initiatives
- 9.1.6. O2 Concepts
- 9.1.6.1. Company overview
- 9.1.6.2. Financial performance
- 9.1.6.3. Product benchmarking
- 9.1.6.4. Strategic initiatives
- 9.1.7. Nidek Medical Products, Inc.
- 9.1.7.1. Company overview
- 9.1.7.2. Financial performance
- 9.1.7.3. Product benchmarking
- 9.1.7.4. Strategic initiatives
- 9.1.1. Inogen, Inc.
List of Tables
- Table 1 List of Secondary Sources
- Table 2 List of Abbreviations
- Table 3 COPD estimated prevalence
- Table 4 Intertitial lung disease estimated prevalence
- Table 5 Key companies involved in M&As
- Table 6 Key companies undergoing collaborations and partnerships
- Table 7 Key companies undertaking other strategies
- Table 8 North America Oxygen Concentrators Market, By Country, 2018 - 2030 (USD Million)
- Table 9 North America Oxygen Concentrators Market, By Product, 2018 - 2030 (USD Million)
- Table 10 North America Oxygen Concentrators Market, By Application, 2018 - 2030 (USD Million)
- Table 11 North America Oxygen Concentrators Market, By Technology, 2018 - 2030 (USD Million)
- Table 12 U.S. Oxygen Concentrators Market, By Product, 2018 - 2030 (USD Million)
- Table 13 U.S. Oxygen Concentrators Market, By Application, 2018 - 2030 (USD Million)
- Table 14 U.S. Oxygen Concentrators Market, By Technology, 2018 - 2030 (USD Million)
- Table 15 Canada Oxygen Concentrators Market, By Product, 2018 - 2030 (USD Million)
- Table 16 Canada Oxygen Concentrators Market, By Application, 2018 - 2030 (USD Million)
- Table 17 Canada Oxygen Concentrators Market, By Technology, 2018 - 2030 (USD Million)
- Table 18 COPD estimated prevalence
- Table 19 Interstitial lung disease estimated prevalence
List of Figures
- Fig. 1 North America Oxygen Concentrators Market segmentation
- Fig. 2 Market research process
- Fig. 3 Information procurement
- Fig. 4 Primary research pattern
- Fig. 5 Market research approaches
- Fig. 6 Value chain-based sizing & forecasting
- Fig. 7 QFD modelling for market share assessment
- Fig. 8 Market formulation & validation
- Fig. 9 U.S. specific research methodology
- Fig. 10 U.S. specific research methodology
- Fig. 11 U.S. specific research methodology
- Fig. 12 U.S. specific research methodology
- Fig. 13 U.S. specific research methodology
- Fig. 14 U.S. specific research methodology
- Fig. 15 Oxygen Concentrators Market snapshot
- Fig. 16 Oxygen concentrators Segment Snapshot
- Fig. 17 Oxygen concentrators Segment Snapshot (continued)
- Fig. 18 Oxygen Concentrators Market competitive landscape snapshot
- Fig. 19 Market research process
- Fig. 20 Oxygen Concentrators Market: Parent market outlook (2022)
- Fig. 21 Market research process
- Fig. 22 Market driver analysis (Current & future impact)
- Fig. 23 Market restraints analysis (Current & future impact)
- Fig. 24 List of 24 notable U.S. FDA-approved POCs, 2021
- Fig. 25 Value-chain-based sizing & forecasting
- Fig. 26 North America Oxygen concentrators market: Product movement analysis, 2018 - 2030 (USD Million)
- Fig. 27 North America Oxygen concentrators market share analysis, 2022 & 2030
- Fig. 28 North America Fixed medical oxygen concentrators market, 2018 - 2030 (USD Million)
- Fig. 29 North America Portable medical oxygen concentrators market, 2018 - 2030 (USD Million)
- Fig. 30 North America Oxygen concentrators market: Application movement analysis, 2018 - 2030 (USD Million)
- Fig. 31 North America Oxygen concentrators market share analysis, 2022 & 2030
- Fig. 32 North America Homecare market, 2018 - 2030 (USD Million)
- Fig. 33 North America Non-home healthcare market, 2018 - 2030 (USD Million)
- Fig. 34 North America Oxygen concentrators market: Technology movement analysis, 2018 - 2030 (USD Million)
- Fig. 35 North America Oxygen concentrators market share analysis, 2022 & 2030
- Fig. 36 North America Continuous flow market, 2018 - 2030 (USD Million)
- Fig. 37 North America Pulse flow market, 2018 - 2030 (USD Million)
- Fig. 38 North America marketplace: Key takeaways
- Fig. 39 North America Oxygen concentrators market: Regional outlook, 2022 & 2030 (USD Million)
- Fig. 40 North America oxygen concentrators market, 2018 - 2030 (USD Million)
- Fig. 41 U.S. oxygen concentrators market, 2018 - 2030 (USD Million)
- Fig. 42 Canada oxygen concentrators market, 2018 - 2030 (USD Million)
- Fig. 43 Heat map analysis
