North America Oxygen Concentrators Market Size, Share & Trends Analysis Report By Product (Portable, Fixed), By Application, By Technology (Continuous Flow, Pulse Flow), By Region- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The North America oxygen concentrators market size was exhibited at USD 1.46 billion in 2022 and is projected to hit around USD 4.12 billion by 2032, growing at a CAGR of 10.9% during the forecast period 2023 to 2032.

Key Pointers:

• The portable segment dominated the market and held the largest revenue share of 58.6% in 2022.
• The continuous flow technology segment dominated the North American oxygen concentrators market and accounted for the largest revenue share of 57.5% in 2022.
• The home care segment dominated the market and held the largest revenue share of 69.0% in 2022.

Report Scope of the North America oxygen concentrators Market

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.

According to the National Health Expenditure Accounts (NHEA), healthcare spending in the U.S. increased by 4.6% in 2019 and was estimated at US$ 3.8 trillion. The per-person expenditure in 2019 was USD 11,582 and contributed to 17.7% of the GDP. Moreover, the healthcare expenditure in Canada was US$ 265.5 billion, according to the Canadian Institute of Health Information. The rise in healthcare spending is estimated to trigger the need for effective diagnosis and treatment of respiratory diseases. This, in turn, is estimated to reinforce the demand for oxygen concentrators.

Supporting initiatives by the public and private authorities is driving the market. For instance, as of February 2022, the World Health Organization has distributed 30,000 oxygen concentrators globally. In February 2022, 3B Medical announced that it will donate Aer X portable concentrator each month for the next six months. In March 2022, the U.S. Food and Drug Administration granted 510(k) clearance and marketing authorization for the X-PLO2R portable oxygen concentrator of Belluscura. Moreover, various associations such as the American Lung Association, and the National Heart, Lung, and Blood Institute (NHLBI), among others, are working towards increasing awareness of respiratory diseases such as COPD.

North America oxygen concentrators Market Segmentation And Regions