Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Oxygen Concentrators Market size was over USD 3.84 billion in 2024 and is anticipated to cross USD 7.61 billion by 2037, witnessing more than 5.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of oxygen concentrators is estimated at USD 4.02 billion.
The growth of the market can be attributed to the growing prevalence of chronic obstructive pulmonary diseases (COPDs), introduction of new technologies in concentrators to improve quality care and rise in demand for miniaturized oxygen concentrators around the globe. According to the World Health Organization (WHO), 251 million people in the world suffer from COPD. Around 3.17 million deaths are caused by this disease every year. Along with these, increasing elderly population globally, and government initiatives to educate citizens about COPD and its management are expected to offer lucrative opportunities to the market growth in the coming years. Furthermore, the sales of oxygen concentrators have witnessed a boom as a result of COVID-19 outburst. The manufacture and imports of these products are also projected to witness a notable surge in the forthcoming months to combat shortage of oxygen supply in several countries.
