Global Portable Oxygen Kit Market Report and Forecast 2024-2032

Global Portable Oxygen Kit Market Size

The global portable oxygen kit market was valued at USD 21.5 billion in 2023, driven by the increasing prevalence of chronic respiratory conditions, rising innovations in the design and functionality of portable oxygen kits across the globe. The market is expected to grow at a CAGR of 6.80% during the forecast period of 2024-2032, with the values likely to rise from USD 22.9 billion to USD 38.7 billion by 2032.

Portable Oxygen Kit Market Outlook

• The demand for home oxygen therapy is increasing, owing to the rising prevalence of chronic respiratory conditions and the growing elderly population. Such factors are expected to impact the market dynamics significantly.

• One of the major market trends is the rising technological advancements in portable oxygen kits, leading to the introduction of advanced models that are more compact and lightweight, with monitoring capabilities, quieter operation, and improved battery life.

• The home application segment is experiencing significant growth driven by the growing awareness and acceptance of home-based healthcare coupled with the launch of cost-effective and user-friendly portable oxygen kits in the market.

Portable Oxygen Kit Market Overview

Portable oxygen kits are lightweight medical devices that can offer supplemental oxygen to people with respiratory conditions. They allow the patients to receive oxygen therapy while maintaining an active lifestyle and thus are increasingly used in homes and during flights and other forms of travel. The COVID-19 pandemic surged the demand for portable oxygen kits as patients sought ways to deal with respiratory symptoms such as breathlessness and low oxygen levels at home. The coronavirus pandemic also emphasized the importance of respiratory health and the need for accessible oxygen therapy, which has significantly shaped the market landscape. Further, the rising burden of chronic respiratory issues and the growing aging population are a significant driver of this market. Manufacturers are continuously investing in the development of advanced models that are more compact, and lightweight, with quieter operation and improved battery life. This increasing focus on patient comfort and convenience is poised to elevate the market value in the coming years.

Portable Oxygen Kit Market Growth Drivers

Increasing Prevalence of Chronic Respiratory Diseases Drives Market Growth

The demand for home oxygen therapy is increasing which can be attributed to the rising prevalence of chronic respiratory conditions such as COPD (chronic obstructive pulmonary disease), asthma, and chronic bronchitis, among others. Recent data suggests that the global prevalence of COPD is roughly 12% in the general population and ranks as the third leading cause of mortality. Further, the incidence of COPD is projected to rise in the next 40 years, which is expected to fuel the demand for portable oxygen solutions. Additionally, the increasing elderly population, which is more susceptible to developing respiratory conditions, is likely to bolster the market growth in the forecast period.

Rising Technological Innovations Expected to Fuel Portable Oxygen Kit Market Demand

In March 2022, GRS India Corporation, a New Delhi-based startup, with support from the North East Centre For Technology Application and Reach (NECTAR), an independent organization of the Department of Science (DST) designed Oxygen Plus, a field-portable smart bag pack emergency oxygen concentrator. This user-friendly and smartphone-based portable oxygen kit can provide a consistent oxygen supply during health crises such as the COVID-19 pandemic or high altitude-related problems. The field-portable device is cost-effective and can be linked to a monitoring mobile app to track oxygen levels and usage and receive alerts in real time. The rising integration of portable oxygen kits with advanced technologies is anticipated to augment the market demand.

COVID-19 Impacted the Market Landscape Significantly

The COVID-19 pandemic surged the demand for portable oxygen kits as patients sought ways to deal with respiratory symptoms such as breathlessness and low oxygen levels at home. This fueled the demand for portable oxygen kits across the globe. The coronavirus pandemic also emphasized the importance of respiratory health and the need for accessible oxygen therapy, which has significantly shaped the market landscape.

Portable Oxygen Kit Market Trends

The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:

Recent Developments in the Portable Oxygen Kit Market

• In March 2022, GRS India Corporation, a New Delhi-based startup, with support from the North East Centre For Technology Application and Reach (NECTAR), an independent organization of the Department of Science (DST) designed Oxygen Plus, a field-portable smart bag pack emergency oxygen concentrator. This user-friendly and smartphone-based portable oxygen kit can provide a consistent oxygen supply during health crises such as the COVID-19 pandemic or high altitude-related problems. The field-portable device is cost-effective and can be linked to a monitoring mobile app to track oxygen levels and usage and receive alerts in real time. The rising integration of portable oxygen kits with advanced technologies is anticipated to augment the market demand.

• In June 2023, the Sikkim (India) government announced that it is mandatory for all state-registered vehicles (personal and commercial) to carry portable oxygen kits or canisters to prevent health hazards at high altitudes effective from July 1, 2023. The portable oxygen kits that will be carried in the vehicle will receive certification from the state health department as well. The growing emphasis on emergency preparedness is expected to fuel portable oxygen kit market demand in the forecast period.

Portable Oxygen Kit Market Segmentation

Market Breakup by Application

• Healthcare

• Home Application

• Aerospace and Automotive

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Portable Oxygen Kit Market Share

Market Segmentation Based on Application Areas is Anticipated to Witness Substantial Growth

By application, the market is segmented into healthcare, home application, aerospace, and automotive. Portable oxygen kits are increasingly employed in the healthcare sector for patients with respiratory issues who require supplemental oxygen. Emergency medical services (EMS), such as ambulance services or paramedic services, use these portable kits to provide immediate oxygen delivery during medical emergencies and patient transport. The home application segment is experiencing significant growth driven by the growing awareness and acceptance of home-based healthcare coupled with the introduction of cost-effective and user-friendly portable oxygen kits in the market. The aerospace and automotive segment uses the device as a reliable emergency oxygen solution and also contributes to a major market share.

Portable Oxygen Kit Market Analysis by Region

Based on the region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is dominating the market share due to the rising burden of chronic respiratory diseases, the growing aging population, and the presence of an advanced healthcare infrastructure. Further, the increasing technological advancements in portable oxygen kits, heightened awareness surrounding respiratory health, and the surge in the adoption of home healthcare solutions are some of the factors supporting the market growth.

Europe also holds a high portable oxygen kit market value driven by increasing investments in healthcare technologies and greater access to advanced medical devices. Additionally, Asia Pacific is expected to witness substantial market growth fueled by the growing patient pool and the increasing recognition of home oxygen therapy benefits. Increased government initiatives to improve healthcare services and the rising disposable income is poised to boost the region’s market share.

Leading Players in the Global Portable Oxygen Kit Market

The key features of the market report include funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

Invacare Corporation

Invacare Corporation is an American manufacturer of portable oxygen, offering efficient non acute medical equipment solutions such as wheelchairs, mobility scooters, and walkers. It also boasts a range of respiratory products as well.

O2 Concepts LLC

This company is a prominent manufacturer and distributor of portable oxygen concentrators (POCs). It offers novel POC designs with the help of intelligent technologies that remotely track device performance.

 
NIDEK Medical Products

Established in 1986, NIDEK Medical Products is a key manufacturer of oxygen concentrators and related respiratory products. The company offers low maintenance and high quality field serviceable oxygen concentrators.

Other key players in the market include DeVilbiss Healthcare LLC (Drive DeVilbiss International), Teijin Limited, Worthington Industries, Inc., Inogen, Inc., Koninklijke Philips N.V. and Chart Industries, Inc., among others.

Key Highlights of the Report

Key Questions Answered in the Global Portable Oxygen Kit Market Report

• What was the global portable oxygen kit market value in 2023?
• What is the global portable oxygen kit market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on application?
• What are the major factors aiding the global portable oxygen kit market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the major market trends influencing the market? 
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How does the prevalence and incidence of respiratory disorders affect the market landscape?
• How does the rise in the geriatric population impact the market size?
• How do the technological innovations in portable oxygen kits affect the market landscape?
• Which application area is expected to have a high market value in the coming years?
• Who are the key players involved in the portable oxygen kit market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, and mergers & acquisitions among the key market players shaping the market dynamics?

Portable Oxygen Kit Market Report Snapshots

Portable Oxygen Kit Market Size

Portable Oxygen Kit Market Growth

Portable Oxygen Kit Market Trends

Portable Oxygen Kit Market Share

Portable Oxygen Kit Market Regional Analysis

Portable Oxygen Kit Companies