Portable Oxygen Concentrators Market Size

Portable Oxygen Concentrators Market size was valued at USD 1.9 billion in 2023 and is poised to exceed USD 6.1 billion by the end of 2036, registering over 9.5% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of portable oxygen concentrators is estimated at USD 2.2 billion.

The rise in the prevalence of chronic respiratory disorders, such as asthma, chronic obstructive pulmonary diseases (COPD) and sleep apnea is a key factor boosting market growth. In 2020, the Centers for Disease Control and Prevention (CDC) published that, of U.S. adults, 27.2% had more than one chronic ailment, and more than half (51.8%) had at least one diagnostic chronic condition. Worldwide market prospects have been positively impacted by the increasing need for portable oxygen concentrators among patients with sleep apnea, owing to their convenient mobility.

Sales of portable oxygen concentrators are expected to grow as people with respiratory illnesses usually require additional oxygen to raise the oxygen content in their bloodstream and promote oxygen delivery to their tissues. Portable oxygen concentrators are used by non-pressurized airplanes, the glassblowing industry, and the skin care sector. The growth of the portable oxygen concentrators market is also expected to rise due to changing lifestyles, increasing affordability, and rising expenditure in healthcare systems.