According to FutureWise analysis the market for homecare oxygen concentrators in 2023 is US$ 1.73 billion, and is expected to reach US$ 3.14 billion by 2031 at a CAGR of 7.72%.
An Oxygen Concentrators is one that concentrates Oxygen from an air supply (typically ambient). It removes nitrogen selectively to provide oxygen-enriched product gases. They are used both industrially and as healthcare devices for oxygen therapy. There are two methods that are commonly used: tension swing adsorption and molecular gas separation. Multiple molecular sieves of zeolite and other minerals are used to pressure swing adsorption concentrators. These molecular sieves absorb fast-acting nitrogen under high pressure. The use of small cryogenic liquid oxygen systems or heavy high-pressure oxygen cylinders for home medical oxygen therapy was required. Both these delivery systems required suppliers to visit home often to replenish the oxygen supply. Medicare changed from paying a fee-for-service payment to a flat monthly rate for home therapy. This led to the DME industry adopting concentrators quickly to cut costs. This reimbursement change resulted in a dramatic decrease in the number and use of liquid oxygen delivery systems (primary high pressure, and liquid) in homes. Oxygen concentrators were the most preferred method of delivering home oxygen. This led to an increase in the number and quality of oxygen concentrator manufacturers.
A wide variety of oxygen concentrators based on pressure Swing Adsorption (PSA) are used to provide oxygen in healthcare applications. These concentrators can be used in places where liquid oxygen is too hazardous or inconvenient such as in hospitals or mobile clinics. Concentrators that are based on nitration membrane technology can also be used for other purposes. An oxygen concentrator draws in oxygen and removes any nitrogen. Oxygen-enriched gases can then be used to treat low levels of oxygen in the blood. In industrial processes, oxygen concentrators offer an economical source of oxygen. In hospitals, or at home, medical oxygen concentrators are used to concentrate oxygen for patients. PSA generators are an economical source of Oxygen. They are safer, cheaper, and more convenient than pressurized or cryogenic cylinders. They can be used across many industries including medical, pharmaceutical, and water treatment as well as glass manufacturing. PSA generators have a lot of utility in remote areas and mobile health facilities ( army hospitals) or disaster facilities. The oxygen concentrators that are now lighter and more affordable have been made easier to use, make it easy to find, and are also much more cost-effective. This has resulted in increased demand for in-home care. A rise in the elderly population means that homecare oxygen treatment will increase. Global homecare oxygen concentrators have seen a significant increase in demand from people suffering from chronic respiratory diseases such as chronic obstructive pneumonia disease (COPD) and chronic bronchitis. The industry's growth will be driven by increasing awareness about the best homecare oxygen concentrator treatments. With improved healthcare infrastructure, portable home oxygen concentrator adoption is expected to rise over the forecast period. is one that concentrates Oxygen from an air supply (typically ambient). It removes nitrogen selectively to provide oxygen-enriched product gases. They are used both industrially and as healthcare devices for oxygen therapy. There are two methods that are commonly used: tension swing adsorption and molecular gas separation.
Multiple molecular sieves of zeolite and other minerals are used to pressure swing adsorption concentrators. These molecular sieves absorb fast-acting nitrogen under high pressure. The use of small cryogenic liquid oxygen systems or heavy high-pressure oxygen cylinders for home medical oxygen therapy was required. Both these delivery systems required suppliers to visit home often to replenish the oxygen supply. Medicare changed from paying a fee-for-service payment to a flat monthly rate for home therapy. This led to the DME industry adopting concentrators quickly to cut costs. This reimbursement change resulted in a dramatic decrease in the number and use of liquid oxygen delivery systems (primary high pressure, and liquid) in homes across the United States. Oxygen concentrators were the most preferred method of delivering home oxygen. This led to an increase in the number and quality of oxygen concentrator manufacturers.
A wide variety of oxygen concentrators based on pressure Swing Adsorption (PSA) are used to provide oxygen in healthcare applications. These concentrators can be used in places where liquid oxygen is too hazardous or inconvenient such as in hospitals or mobile clinics. Concentrators that are based on nitration membrane technology can also be used for other purposes. An oxygen concentrator draws in oxygen and removes any nitrogen. Oxygen-enriched gases can then be used to treat low levels of oxygen in the blood. In industrial processes, oxygen concentrators offer an economical source of oxygen. In hospitals, or at home, medical oxygen concentrators are used to concentrate oxygen for patients. PSA generators are an economical source of Oxygen. They are safer, cheaper, and more convenient than pressurized or cryogenic cylinders. They can be used across many industries including medical, pharmaceutical, and water treatment as well as glass manufacturing. PSA generators have a lot of utility in remote areas and mobile health facilities ( army hospitals) or disaster facilities. The oxygen concentrators that are now lighter and more affordable have been made easier to use, make it easy to find, and are also much more cost-effective. This has resulted in increased demand for in-home care. A rise in the elderly population means that homecare oxygen treatment will increase. Global homecare oxygen concentrators have seen a significant increase in demand from people suffering from chronic respiratory diseases such as chronic obstructive pneumonia disease (COPD) and chronic bronchitis. The industry's growth will be driven by increasing awareness about the best homecare oxygen concentrator treatments. With improved healthcare infrastructure, portable home oxygen concentrator adoption is expected to rise over the forecast period.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Homecare Oxygen Concentrators Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Homecare Oxygen Concentrators Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.