North America Medical Oxygen Concentrator Market Outlook, 2027

The report titled, “North America Medical Oxygen Concentrators Market Outlook, 2027”, published by Bonafide Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Portable, Stationary, & Oxygen Cylinders), based on technology (Continuous Flow & Pulse Flow), based on end users (Home Care & Non Home Care), based on North America countries & major companies. Being the top market share contributor globally, North America’s market accounted for a value of USD 0.56 Billion historically in 2016. Apart from the already prevailing respiratory ailments, the Covid 19 pandemic had its part in the rapid increase in the demand for oxygen concentrators in the region. Invacare Corporations, which is one of the global leading companies, achieved a 72.2% increase in terms of sales in the last quarter of 2020, owing to the Covid outburst. Covid patients who do not require ventilator support can be treated with an oxygen concentrator. Moreover, patients can take Oxygen therapy in the safety and comfort of their homes. The application of oxygen concentrators in the treatment of COVID-19 is a major reason for the sudden increase in demand in 2020. Through the forecasted period, the regional market is expected to show a growth of over 5.5%, retaining its market dominance with a decline in market share.

One of the biggest problems in the region is the growing geriatric population, which in turn has been a boost to the market growth. As per the United Nations Department of Economic and Social Affairs, the number of elderly people in Northern America is projected to grow by 41.0% by 2030. The frequency of increasing respiratory disorders among the aged population has allowed the oxygen market grow to a significant value. The increase in cases of respiratory disorders including asthma, COPD, fibrosis, and pulmonary hypertension among young adults is estimated as a driver for the portable oxygen cylinder segment in the region, which is to have an anticipated CAGR of 9%. The easy availability in a large number, rapid technology development, and the growing prevalence of patients suffering from long-term respiratory disorders had allowed the continuous flow oxygen concentrators segment to account for a market share of over 85% in 2021. However, the pulse flow segment is expected to grow at a significant growth rate during the forecast period owing to its lightweight, high mobility, and suitability for patients having an active lifestyle. Being an ideal choice for the condition which requires low liters of O2 per minute, the pulse flow segment is looked forward to growing to a market value of around USD 0.20 Billion by the end of the forecasted period.

In North America, the home care segment dominated the market as an end-user, holding more than half of the market share, and expected to show an incline in the market. It can be ascertained reason that the increase in home therapy for COPD is the root cause for this market dominance. Even though losing the market share, the nonhome care segment witnessed a lucrative market value in 2020, due to the Covid outbreak. In terms of country, the USA holds a major market share, while all the rest countries could hardly manage a single-digit market share. There were more than 46 Million adults older than 65 years old in 2020 and is estimated to increase to 90 Million by 2050 in the USA. Along with this, a minimum of 16.4 Million people was suffering from COPD in 2018 in the country which in 2014 was at 14.9 Million. Such prevalence of respiratory disorders and the geriatric population is boosting the market potential in the country.

COVID-19 Impact
The market in the region was affected majorly in a positive manner, with the advent of a virus which mainly affected the respiratory capabilities of the victim the oxygen concentrators were highly in demand amongst the region population. This increase in demand was however met with a disruption in the supply chain in the market with the onset of lockdowns and travel restrictions which affected the growth negatively.

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Bonafide Research has segmented the North America Medical Oxygen Concentrator Market report based on product, technology, end users, and countries:

Companies included: Caire Inc, Inogen Inc., Invacare Corporation, Koninklijke Philips N.V., Nidek Medical products Inc., O2 Concepts LLC, Precision Medical Inc., ResMed Inc, Teijin Pharma Limited, Besco Medical Limited, Drive DeVilbiss Healthcare, GCE Group, MedTronic
Considered in the report
• Geography: North America
• Base year: 2021
• Historical year: 2016
• Forecasted year: 2027

Countries covered:
• USA
• Canada
• Mexico

Aspects covered in the report
• Market Size by Value for the period (2016-2027F)
• Market Share by Product (Portable Oxygen Concentrator, Stationary Oxygen Concentrator, & Oxygen Cylinders)
• Market Share by Technology (Continuous Flow & Pulse Flow)
• Market Share by End User (Home Care & Non Home Care)
• Market Share by Country
• Market Share by Company

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.



Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Medical Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.