PUBLISHER: Grand View Research | PRODUCT CODE: 1842200
PUBLISHER: Grand View Research | PRODUCT CODE: 1842200
The global oxygen concentrator market size was estimated at USD 4.85 billion in 2024 and is projected to reach USD 8.31 billion by 2033, growing at a CAGR of 6.4% from 2025 to 2033. This is attributed to the rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea, coupled with the increasing launch of technologically advanced devices.
According to the Global Impact of Respiratory Disease study, around 200 million people suffer from COPD globally, resulting in 3.2 million deaths every year. Moreover, favorable reimbursement policies have enhanced the attractiveness of the oxygen concentrators market in the U.S. For instance, in March 2024, a U.S. Congressman introduced the Supplemental Oxygen Access Reform (SOAR) Act to reform and improve access to supplementary oxygen for Medicare beneficiaries. These policies have increased the adoption of oxygen concentrators. In addition, rising healthcare spending is driving the demand for effective diagnosis and treatment of respiratory diseases, thereby boosting the market for oxygen concentrators. According to a Cleveland Clinic article in the U.S, over 1.5 million people rely on supplemental oxygen therapy, using devices such as oxygen tanks and concentrators.
Regional governments offer reimbursement policies that cover the cost of POCs for patients with respiratory illnesses. For instance, according to Inogen's 10K form document for the fiscal year ending December 31, 2021, the international market (excluding the U.S.) is attractive for oxygen concentrators due to favorable reimbursement policies in certain countries such as the UK and France. In these countries, portable oxygen concentrators receive more favorable reimbursement than in the U.S.
Market players also employ strategies such as acquisitions, collaborations, expansions, and new product launches to extend their product offerings and geographical reach. For instance, in June 2025, Inogen launched the Voxi 5 stationary oxygen concentrator, offering an affordable, durable, and quiet continuous flow oxygen therapy solution for long-term care patients in the US, enhancing home respiratory care accessibility. The device features compact design, caster wheels for mobility, a 3-year sieve bed warranty, and advanced filtration technology.
COVID-19 had a limited positive impact on the market, driving increased demand for technologically advanced and cost-effective oxygen concentrators. For example, UNICEF distributed 62,046 concentrators to 104 nations worldwide in July 2021, with approximately 12,788 concentrators sourced from a Chinese trade company. Growing need for emergency treatment and prolonged care for lung diseases in children and adults further propels the industry.
Global Oxygen Concentrator Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global oxygen concentrator market report based on product, application, technology, and region: