Oxygen Concentrator Market Summary

The global oxygen concentrator market was valued at USD 4.85 billion in 2024 and is projected to reach USD 8.31 billion by 2033, registering a CAGR of 6.4% from 2025 to 2033. Market expansion is primarily driven by the rising incidence of respiratory disorders—including chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea—along with the continuous introduction of technologically advanced oxygen delivery devices.

According to the Global Impact of Respiratory Disease study, approximately 200 million people globally suffer from COPD, contributing to 3.2 million deaths annually. Favorable reimbursement policies further support market growth, particularly in the U.S. For example, in March 2024, the Supplemental Oxygen Access Reform (SOAR) Act was introduced to improve access to supplemental oxygen for Medicare beneficiaries, increasing the adoption of oxygen concentrators. Growing healthcare expenditure also fuels demand for effective diagnostic and therapeutic solutions for respiratory illnesses. As reported by Cleveland Clinic, more than 1.5 million Americans depend on supplemental oxygen therapy using devices such as concentrators and oxygen tanks.

Several countries provide reimbursement for portable oxygen concentrators (POCs), enhancing market penetration. As stated in Inogen’s 2021 10-K filing, international markets such as the UK and France offer favorable reimbursement policies for POCs, making them attractive regions outside the U.S.

Market participants employ strategies such as acquisitions, product launches, and geographic expansion to strengthen their positions. In June 2025, Inogen released the Voxi 5 stationary oxygen concentrator, designed to offer an affordable, durable, and quiet continuous-flow solution for long-term care patients in the U.S. The device features a compact structure, caster wheels for mobility, advanced filtration technology, and a three-year sieve bed warranty—enhancing accessibility to home-based respiratory care.

Although the impact of COVID-19 was limited, it generated a temporary surge in demand for efficient and cost-effective oxygen concentrators. For example, in July 2021, UNICEF distributed 62,046 concentrators to 104 countries, with 12,788 units sourced from a Chinese trading company. Growing requirements for both emergency respiratory treatment and chronic care for adults and children continue to support overall demand.

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Key Market Trends & Insights

• North America dominated the market in 2024 with a 41.0% share.
• In the U.S., market growth is led by rising cases of COPD, asthma, sleep apnea, and an aging population requiring long-term oxygen therapy.
• By product, fixed oxygen concentrators captured the largest share at 54.1% in 2024.
• By application, home care remained the leading segment in 2024.

Market Size & Forecast

• 2024 Market Size: USD 4.85 Billion
• 2033 Projected Market Size: USD 8.31 Billion
• CAGR (2025–2033): 6.4%
• Largest Market (2024): North America
• Fastest-Growing Region: Asia Pacific

Key Oxygen Concentrator Company Insights

The market is highly competitive, with numerous global and regional players. Intense competition, especially among smaller companies, encourages continuous innovation. Strategies such as partnerships, technology upgrades, and new product introductions remain central to market expansion.

Leading Companies

• Respironics (Koninklijke Philips N.V.)
• GF Health Products, Inc.
• MedaCure Inc.
• Nidek Medical Products, Inc.
• O2 Concepts
• React Health
• CAIRE Inc. (Acquired by Niterra Co., Ltd.)
• DeVilbiss Healthcare
• GCE Group
• Compass Health Brands
• Inogen, Inc.
• Belluscura
• Hoyo Scitech Co., Ltd.
• BPL Medical Technologies
• XNUO International Group (USA) Holding
• Teijin Limited
• BESCO Medical Limited
• Oxymed India
• KALSTEIN FRANCE
• Foshan Keyhub Electronic Industries Co., Ltd

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Conclusion

The oxygen concentrator market is poised for steady growth through 2033, supported by the rising global burden of respiratory diseases, favorable reimbursement frameworks, and ongoing innovations in oxygen delivery technology. Increasing healthcare investments and a growing elderly population further enhance market demand, particularly for home-based and long-term oxygen therapy solutions. While COVID-19 had a modest positive effect on uptake, the long-term market outlook remains driven by chronic respiratory needs and continuous product advancements. With strong participation from established manufacturers and emerging players, the industry is expected to maintain a competitive and innovation-focused trajectory in the coming years.