Homecare Oxygen Concentrators Market Size By Product (Portable Oxygen Concentrators, Fixed Oxygen Concentrators), By Technology (Continuous Flow, Pulse Flow), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market S

Homecare Oxygen Concentrators Market Size By Product (Portable Oxygen Concentrators, Fixed Oxygen Concentrators), By Technology (Continuous Flow, Pulse Flow), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

The homecare oxygen concentrators market is slated to expand at a substantial rate through 2028 due to increasing adoption of advanced, convenient, and user-friendly oxygen concentrators in developed and developing nations.

The COVID-19 pandemic had a beneficial impact on the homecare oxygen concentrator sector. These oxygen concentrators were extensively utilized to provide supplemental oxygen to patients infected with the novel coronavirus. There was an unusual spike in demand for oxygen concentrators and medicines, prompting many regions to establish oxygen concentrator banks to provide oxygen concentrators to homebound patients, which has been favorable for product outlook.

Recently, key industry players in the homecare oxygen concentrators market have been forming strategic alliances in order to improve their market standing, thereby stimulating overall business growth. To cite an instance, in September 2021, Inogen, Inc., a U.S.-based medical technology corporation that develops novel respiratory solutions for use in homecare settings, reached an agreement with Ashfield Healthcare, LLC, a subsidiary of UDG Healthcare and a major healthcare services provider.

The partnership between both firms marked a significant step forward in Inogen's strategic plan to increase market penetration for portable oxygen concentrators (POCs) among clinicians, who are one of the most vital constituents. As part of the deal, Ashfield agreed to support Inogen’s growth strategy as well as bolster performance in its clinician sales channel. The collective sales organization was intended to leverage Ashfield’s extensive offering of sales operations support, analytics tools, and personalized concierge services, which could help drive efficiency and productivity.

The homecare oxygen concentrators market has been bifurcated in terms of product, technology, and region. Based on product, the industry has been divided into fixed oxygen concentrators and portable oxygen concentrators. The fixed oxygen concentrators sub-segment is expected to register a substantial CAGR of more than 6.8% through 2028 owing to rising incidences of chronic respiratory diseases, including chronic obstructive pulmonary disease (COPD), across the world. Moreover, the proliferating geriatric population would also push product uptake, which is primed to impel segmental progress in the coming years.

With respect to technology, the homecare oxygen concentrators market has been segmented into continuous flow and pulse flow. The pulse flow sub-segment was valued at over USD 600 million in 2021 and is poised to showcase substantial growth over 2022-2028. High product demand among patients with active lifestyles, mounting product availability, and device portability are estimated to facilitate the segment's growth over the review timeline.

From the regional standpoint, the Latin America homecare oxygen concentrators market is set to depict a CAGR of around 6.4% through 2028 due to the improving healthcare infrastructure, prominent government initiatives and funding for treatment awareness, and the implementation of technologically advanced devices. Furthermore, improving product accessibility in the LATAM region is poised to boost overall business expansion.