Europe Portable Oxygen Concentrators Market

Europe Portable Oxygen Concentrators Market Size & Growth (2023 to 2028)

The size of the Europe Portable Oxygen Concentrators Market was valued at USD 0.37 billion in 2023. It is further expected to be growing at a CAGR of 7.9% and worth USD 0.54 billion by 2028 during the forecast period 2023 to 2028.

A portable oxygen concentrator (POC) is a medical device that provides oxygen to individuals with respiratory illnesses. The concentrator separates nitrogen and oxygen from ambient air, discarding the nitrogen and supplying patients with 95 percent pure oxygen via a mask.

The European portable oxygen concentrators market is projected to be fuelled by the proliferation of chronic obstructive pulmonary disease, growing consumer awareness of oxygen therapy devices, and the adoption of new technologies in the healthcare sector. 

Also, a changing consumer lifestyle, rising government expenditure, and an increase in manufacturing company investment in-home care products are the other factors that fuel market growth. 

However, the penetration of traditional oxygen cylinders to portable oxygen concentrators would increase demand for these devices. On the other hand, as the number of players in emerging markets grows, demand for POC is rising rapidly during the projection period.

In addition, the market expansion is aided by attractive reimbursement policies and increased investment funding from the government and private persons.

Further, the key market players are adopting various market strategies to expand the market growth; Strategies include mergers, acquisitions, and partnerships to promote regional market development and provide a platform for new market players, affecting the market growth.

The coronavirus can cause severe respiratory distress, and most patients go away at the end of severe respiratory failure. Oxygen concentrators are particularly useful in giving supplemental oxygen or relieving breathing difficulties, speeding up the body's healing process. 

Governments all across the region are providing oxygen concentrators to COVID-19 patients confined to their homes due to a rapid decline in oxygen levels. For example, through several private-sector networks, WHO and its UN partners collaborate with manufacturers in Europe to purchase oxygen concentrators for the nations that need them the most.

Medical device limitations imposed by the FDA and high product costs are two issues limiting industry expansion. In several countries, reimbursement policies and government regulations on portable oxygen concentrators are anticipated to stifle market expansion. In addition, the lack of public awareness regarding portable oxygen concentrators and a scarcity of skilled practitioners may stifle global market growth.

This research report on the Europe Portable Oxygen Concentrators Market has been segmented and sub-segmented into the following categories.

By Product: 

• Portable Oxygen Concentrator & Cylinders
• Stationary Oxygen Concentrator & Cylinders
• Oxygen Concentrator & Cylinders

By Technology:

• Continuous Flow
• Pulse Flow

By End User: 

• Hospitals
• Homecare
• Ambulatory Surgical Centres
• Travel Agents

By Country: 

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the portable oxygen concentrators market in Europe is expected to account for roughly 23% of the global market during the forecast period; Europe is the second-largest region in terms of portable oxygen concentrators sales. It's because of the rising threat of lung cancer across the area, as well as a predicted rise in respiratory ailments as the population of the elderly grows. 

Countries like the United Kingdom, Germany, Spain, France, and Italy are expected to have reasonable growth rates during the projected period. Hospitals, home care settings, and others make up the portable oxygen concentrator industry in Europe. 

Germany portable oxygen concentrators market witnessed a dominant share in the oxygen concentrators market owing to the rising frequency of an increase in chronic obstructive pulmonary disease interventional cardiologists' preference for nonsurgical procedures. As a result, the home care settings segment accounted for a more significant market share and is expected to grow faster over the predicted period.

On the other hand, the UK portable oxygen concentrators market is more likely to witness a considerable share in the portable oxygen concentrators market. Therefore, the market is expected to rise strongly throughout the projected period.

Furthermore, the mobile oxygen concentrators market is likely to develop over the projected period due to an increase in interventional cardiologists' preference for nonsurgical procedures. Moreover, well-established health infrastructure, critical player engagement, and expanding awareness of advanced treatment procedures contribute to market growth.

KEY MARKET PLAYERS

Some of the promising leading the Europe Portable Oxygen Concentrators Market profiled in the report are Koninklijke Philips N.V., Inogen Inc., Chart Industries Inc., Resmed Inc., Invacare Corporation, Drive DeVilbiss Healthcare, Precision Medical Inc., Foshan Keyhub Electronic Industries Co. Ltd., O2 Concepts LLC, and GCE Group.