1. Global Stationary Oxygen Concentrators Market Insight Analysis
In 2024, the Stationary Oxygen Concentrators market value is projected to reach 1,331.86 million USD, showcasing a compound annual growth rate (CAGR) of 6.02% from 2024 to 2033.
Stationary Oxygen Concentrators are devices that produce oxygen through various technologies, such as molecular sieve, electrolytic oxygen production, polymer oxygen permeable membrane oxygen production, and chemical oxygen production methods. These devices are typically bulkier and heavier than their portable counterparts, requiring a wall socket for operation, but they offer higher flow rates of oxygen, making them suitable for patients requiring high doses of oxygen therapy.
Figure Global Stationary Oxygen Concentrators Market Size (M USD) and CAGR (2024-2033)
2. Stationary Oxygen Concentrators Market Growth Drivers and Restraints
The Stationary Oxygen Concentrators market is influenced by several driving factors. The increasing prevalence of respiratory diseases like sleep apnea and asthma has been a significant contributor to the market’s expansion. For instance, according to the American Sleep Association, an estimated 50 to 70 million people in the United States suffer from some form of sleep disorder, with similar trends observed in Europe and China. Additionally, the aging population globally is leading to a higher incidence of chronic diseases that require oxygen therapy, thus boosting the market. The COVID-19 pandemic has further accelerated the demand for stationary oxygen concentrators, as they provide supplemental oxygen or alleviate breathing difficulties, aiding in the recovery process for those affected by the virus.
Despite the growth opportunities, the Stationary Oxygen Concentrators market faces certain limitations. Intense market competition is a prominent factor, with established medical device companies competing with agile startups for market share. The industry is capital and knowledge-intensive, requiring significant investment in research and development. The risk of new product development is another challenge, as the industry is technology-driven, and companies must continuously innovate to maintain a competitive edge. Failure in product development can impact a company’s market expansion plans and its overall competitive advantage. Furthermore, the stringent regulations and the need for products to undergo numerous audits and tests add to the complexity and costs for manufacturers.
3. Technological Innovations and Mergers in the Stationary Oxygen Concentrators Market
In terms of technology innovation, the Stationary Oxygen Concentrators market has seen significant advancements. Companies are investing in R&D to improve the efficiency and functionality of oxygen concentrators. For example, advancements in molecular sieve technology have led to more effective oxygen separation and delivery. Corporate mergers and acquisitions have also played a role in shaping the market, with larger companies acquiring smaller ones to expand their product offerings and reach. Notable examples include CAIRE Inc., a leading oxygen supply equipment manufacturer, being acquired by NGK SPARK PLUG CO., LTD., and Inogen’s acquisition of New Aera Inc., a manufacturer of portable non-invasive ventilators, which has allowed Inogen to incorporate ventilator system technology into its oxygen concentrators.
4. Global Stationary Oxygen Concentrators Market Size by Type
The stationary oxygen concentrators market is segmented into various types, each serving a specific technological niche. The product types include Molecular Sieve Oxygen Concentrator, Macromolecule Oxygen Permeable Membrane Oxygen Concentrator, Electrolysis Oxygen Concentrator, Chemical Oxygen Concentrator, and Electronic Oxygen Concentrator.
Molecular Sieve Oxygen Concentrator: This type utilizes gas separation technology (PSA method) to produce oxygen. It is an oxygen generator that inhales air and sends it to molecular sieve 13x desiccant beds to help concentrate the oxygen in the room for therapeutic delivery to the patient. In 2024, it is projected to hold the largest market share with a value of 1117.86 M USD, demonstrating its dominance in the market.
Macromolecule Oxygen Permeable Membrane Oxygen Concentrator: This type produces oxygen by allowing oxygen molecules in the air to pass preferentially through a polymer oxygen-enriched membrane. Although it holds a smaller market share, it is expected to grow steadily, with a 2024 market value of 57.82 M USD.
Electrolysis Oxygen Concentrator: Primarily used for the preparation of oxygen by the method of electrolysis, this type is expected to have a market value of 75.41 M USD in 2024. It has a steady growth rate but is overshadowed by the molecular sieve type in terms of market share.
Chemical Oxygen Concentrator: This type uses pharmaceutical formulations to produce oxygen under specific conditions. It is convenient for emergency use but is not suitable for continuous use due to high operational costs. The market value for 2024 is projected to be 57.80 M USD.
Electronic Oxygen Concentrator: This type adopts the process of oxidation and reduction of oxygen in the air in the solution, running quietly but with strict handling requirements. The market value for 2024 is forecasted to be 22.97 M USD, showing a steady growth rate.
Among these, the Molecular Sieve Oxygen Concentrator not only holds the largest market share but also exhibits the fastest growth rate, indicating its superiority in technology and market acceptance.
Table Global Stationary Oxygen Concentrators Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
Molecular Sieve Oxygen Concentrator | 1117.86 |
Macromolecule Oxygen Permeable Membrane Oxygen Concentrator | 57.82 |
Electrolysis Oxygen Concentrator | 75.41 |
Chemical Oxygen Concentrator | 57.80 |
Electronic Oxygen Concentrator | 22.97 |
5. Global Stationary Oxygen Concentrators Market Size by Application
The applications of stationary oxygen concentrators are diverse, with the primary segments being Hospital, Home, and Others.
Stationary oxygen concentrators are crucial in hospital settings for various respiratory treatments and surgeries. With a market value of $297.31 M USD in 2024, the hospital segment holds the largest market share and is expected to grow at a steady pace due to the constant demand for medical oxygen in healthcare facilities.
As home healthcare becomes more prevalent, the home application segment is booming. It is projected to reach a market value of $926.70 M USD in 2024, making it the fastest-growing application area. This growth is attributed to the increasing number of patients preferring home oxygen therapy for chronic conditions like COPD and other respiratory diseases.
The Home application segment is not only the fastest-growing area but also the one with the most significant potential for future expansion, driven by the trend of aging populations and the rise in chronic respiratory diseases.
Table Global Stationary Oxygen Concentrators Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
Hospital | 297.31 |
Home | 926.70 |
Others | 107.85 |
6. Global Stationary Oxygen Concentrators Market Size by Region
With a market value of 336.16 M USD in 2024, North America holds the position as the largest regional market by revenue. This region’s dominance can be attributed to its advanced healthcare infrastructure, high prevalence of respiratory diseases, and a significant focus on home healthcare solutions.
Europe: Europe follows as the second-largest market, with a value of 292.47 M USD in 2024. The region has been experiencing steady growth, supported by an aging population, increased awareness of respiratory health, and the adoption of advanced medical technologies.
China: China stands out as the fastest-growing region, with a market value of 299.82 M USD in 2024. The rapid growth is driven by the country’s large patient population, increasing healthcare expenditures, and the government’s initiatives to improve healthcare access and quality.
Japan: Japan’s market value is 237.90 M USD in 2024, maintaining a stable growth due to its aging population and advancements in medical technology.
Middle East & Africa, India, and South America: These regions together contribute significantly to the global market, with values of 26.51 M USD, 42.36 M USD, and 27.88 M USD respectively in 2024. While they hold smaller market shares, their potential for growth is substantial, particularly due to emerging economies and increasing healthcare demands.
The regional analysis reveals that while North America leads in terms of revenue, China exhibits the most rapid growth, indicating a shift in market dynamics and potential for future expansions.
Figure Global Stationary Oxygen Concentrators Market Size by Region in 2024
7. Global Stationary Oxygen Concentrators Market Analysis by Major Players
Yuwell: Yuwell, established in 1998 and primarily operating in China, is a leading provider of medical equipment. With a global sales reach, Yuwell offers a range of stationary oxygen concentrators, including the 10L Medical Oxygen Concentrator. In 2022, Yuwell achieved a sales revenue of $208.72 M USD.
Philips: Philips, founded in 1891 and with a significant presence in the U.S., focuses on healthcare solutions that support healthy living and disease prevention. Their SimplyFlo stationary oxygen concentrator is a market leader. Philips reported a sales revenue of $194.72 M USD in 2022.
Omron: Omron, established in 1933 and based in Japan, specializes in automation control and electronic equipment, including medical-grade oxygen concentrators. Omron’s sales revenue reached $147.83 M USD in 2022.
Inogen: Inogen, founded in 2001 and operating mainly in the U.S., provides respiratory products for home care environments. Their Inogen At Home Oxygen Concentrator is known for its lightweight design. Inogen’s sales revenue for 2022 was $120.26 M USD.
NGK SPARK PLUG: Established in 1936 and headquartered in Japan, NGK SPARK PLUG acquired CAIRE Inc., a leading oxygen supply equipment manufacturer, in 2019. With a focus on stationary and portable oxygen concentrators, NGK SPARK PLUG’s sales revenue reached $99.40 M USD in 2022.