India Oxygen Concentrators Market to Grow with a CAGR of 6.02% through 2029
Rising demand for portable oxygen concentrators and
growing preference for home-based therapy is expected to drive the India Oxygen
Concentrators Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “India Oxygen
Concentrators Market -Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2029”, the India Oxygen Concentrators Market stood at USD 102.63 Million in 2023 and is
anticipated to grow with a CAGR of 6.02% in the forecast period, 2025-2029. Several
factors are driving the growth of the Oxygen Concentrators Market in India. The
rising prevalence of respiratory disorders, coupled with an aging population
prone to pulmonary issues, is contributing to an increased demand for oxygen
concentrators.
India's healthcare infrastructure is rapidly evolving,
enabling more accessibility to advanced medical devices like oxygen
concentrators. The Indian government's initiatives to improve healthcare
services, particularly in rural areas, also contribute to this growth.
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Oxygen Concentrators Market.”
The India Oxygen Concentrators Market is poised for
substantial growth, fueled by several key factors. The rising awareness about
the importance of respiratory health and the need for timely access to medical
equipment has further propelled the demand for oxygen concentrators. The
shifting demographic trends in India also contribute to the market growth. The
country is witnessing an increasing elderly population susceptible to chronic
respiratory diseases. According to data from the World Health Organization
(WHO), chronic obstructive pulmonary disease (COPD) is the second most common
cause of mortality in India. This alarming statistic magnifies the urgent need
for oxygen concentrators to cater to the growing number of patients.
Furthermore, the burgeoning influence of urbanization
and industrialization in India has led to an uptick in air pollution levels.
This, in turn, has resulted in a rise in respiratory ailments among the
population. As a consequence, the demand for oxygen concentrators as a means to
alleviate breathing difficulties and improve respiratory health has witnessed a
significant surge. In addition to these factors, the government's initiatives
to boost healthcare infrastructure and increase accessibility to advanced
medical devices have given an impetus to the market proliferation. The
implementation of policies aimed at improving the availability and affordability
of oxygen concentrators has further fueled the market growth.
Emerging technological advancements such as portable
oxygen concentrators have revolutionized the market landscape. Portable oxygen
concentrators, known for their convenience and mobility, are increasingly
preferred by patients. Their compact size and ease of use make them a practical
choice for individuals who require oxygen therapy while maintaining an active
lifestyle. This rising preference for portable oxygen concentrators has significantly
contributed to the overall market growth.
However, the India Oxygen Concentrators Market is not
devoid of challenges. The high cost of oxygen concentrators remains a
significant barrier, particularly for individuals in rural areas with limited
financial resources. Additionally, there is a lack of awareness and
accessibility to oxygen concentrators in remote regions, hindering their
adoption. Addressing these challenges and improving access to affordable oxygen
concentrators in rural areas will be crucial to unlocking the market's full
potential. Despite these challenges, the India Oxygen Concentrators Market
shows immense potential for high growth in the coming years. Strategic
collaborations among market players, government initiatives to bridge the
healthcare infrastructure gap, and ongoing technological innovations will play
a vital role in driving the market forward. The increasing focus on research
and development to enhance the efficiency and effectiveness of oxygen
concentrators will further contribute to market expansion.
The India Oxygen Concentrators Market, riding on the
wave of the pandemic, demographic shifts, and technological advancements,
presents lucrative opportunities for investors and stakeholders. The market's
growth potential is undeniable, but concerted efforts are required to improve
accessibility, affordability, and awareness to ensure that the benefits of
oxygen concentrators reach all segments of the population in need.
The India Oxygen Concentrators Market is segmented into
type, technology, flowrate, source, offering, application, distribution
channel, end user, regional distribution, and company.
Based on source, it is anticipated that the domestic
sector will exert a significant influence and dominate the Oxygen Concentrators
Market in India. This projection is primarily attributed to multiple factors,
including the substantial growth of local manufacturing capabilities, proactive
government initiatives aimed at promoting domestic production, and the
ever-increasing demand for advanced medical equipment within the country. As
the healthcare sector continues its rapid evolution and the need for reliable
medical devices becomes more crucial, the establishment of a robust domestic
market becomes paramount. A strong domestic market ensures widespread
availability and affordability of essential medical devices such as oxygen
concentrators. While imports will continue to play a role, the domestic market
is poised to emerge as the frontrunner in the near future, paving the way for
enhanced accessibility and localized production of these life-saving devices.
In addition, the growth of the domestic sector will
not only contribute to the overall economic development of the country but also
create employment opportunities and foster technological advancements in the
field of medical device manufacturing. By nurturing a thriving domestic market,
India can position itself as a global leader in the production and innovation
of medical devices, further strengthening its healthcare infrastructure and
improving the quality of care provided to its citizens. Furthermore, the
proactive government initiatives aimed at promoting domestic production will
not only reduce dependency on imports but also enhance self-sufficiency and
resilience in times of crisis. The dominance of the domestic sector in the
Oxygen Concentrators Market in India is not just a reflection of the current
market dynamics, but a strategic approach to ensure long-term sustainability
and self-reliance in the healthcare sector. With the right policies and
investments in place, India has the potential to become a global powerhouse in
medical device manufacturing, benefiting both the domestic market and the
international healthcare community.
Based on region, North India stands out as the
dominant region. This can be attributed to several factors. The high population
density in this region has resulted in an increased prevalence of respiratory
issues, which has created a growing demand for oxygen concentrators. Moreover,
the pollution levels in North India have been on the rise, further exacerbating
respiratory problems and driving the need for effective respiratory management
solutions. Furthermore, the healthcare infrastructure in this region has
witnessed significant improvement, enabling better accessibility and
availability of oxygen concentrators. Additionally, there has been a notable
increase in awareness among people about the benefits of using oxygen
concentrators for managing chronic pulmonary diseases. This awareness has led
to a higher adoption rate and subsequent market growth. The combination of
factors such as population density, pollution levels, improved healthcare
infrastructure, growing awareness, has positioned North India as the dominant
player in the India Oxygen Concentrators Market.
Major companies operating in India Oxygen Concentrators
Market are:
- Philips India Limited
- BPL Medical Technologies
Private Limited
- Nidek Medical India Private
Limited
- Sanrai Med India Private
Limited
- GCE India Private Limited
- Kannu Impex (India) Private
Limited
- Monarch Meditech
- MediKart HealthCare Systems
Private Limited
- Technocare Medisystems
- GPC Medical Limited
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“The Indian Oxygen Concentrators market is poised to
witness substantial growth in the upcoming years. This growth can be attributed
to the escalating healthcare expenditures and the surging prevalence of
respiratory diseases in the country. Moreover, with continuous advancements in
technology, the market is expected to be propelled forward by the development
of portable oxygen concentrators. These innovative devices not only provide
convenience and mobility to patients but also contribute to improved access to
respiratory care, especially in remote areas. As a result, the Indian Oxygen
Concentrators market is anticipated to experience a remarkable surge in demand,
driving the overall growth of the healthcare industry in the region.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“India Oxygen
Concentrators Market By Type (Portable v/s Stationary), By Technology
(Continuous Flow, Pulse Flow, Continuous/Pulse Flow), By Flow-rate (0-5l/min,
5-10l/min, Above 10l/min), By Source (Import, Domestic), By Distribution
Channel (Wholesalers/Distributors/Suppliers, Online, Direct Sales), By Offering
(Rental , New Sales), By Application (COPD, Lung Cancer, Asthma, COVID-19,
Others), By End User (Hospitals & Clinics, Ambulatory Care Centers, Home
Care), By Region, Competition, Forecast & Opportunities, 2019-2019F”, has evaluated the future growth potential of India Oxygen
Concentrators Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India Oxygen Concentrators
Market.
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