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Medical Oxygen Concentrators Market to Reach USD 7.1 Billion by 2034, Growing at a 6.9% CAGR: Surge in Demand for Sustainable and Cost-Effective Solutions Drives Market Growth | TMR

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According to the latest medical oxygen concentrators market trends, Asia Pacific held largest share in 2023. Rise in prevalence of hospital-based pneumonia is fueling the market dynamics of the region.

WILMINGTON, Del., July 26, 2024 /PRNewswire/ — The global medical oxygen concentrators market was projected to attain US$ 3.4 billion in 2023. It is anticipated to garner a 6.9% CAGR from 2024 to 2034, and by 2034, the market is likely to attain US$ 7.1 billion.

The medical oxygen concentrator is one form of medical equipment used to provide oxygen to people with breathing-related illnesses. The respiratory mechanisms and metabolism of living things depend heavily on oxygen. An oxygen concentrator is frequently necessary for those with low blood oxygen concentrations to restore oxygen levels.

Oxygen concentrators use pressure swing adsorption to provide concentrated oxygen up to 95.5%. Using these concentrators to administer oxygen treatment is a practical and economical approach. An electronic user interface that helps with modifying the oxygen concentration levels and delivery parameters is included with medical oxygen concentrators.

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Medical oxygen concentrators are medical devices that are used to segregate nitrogen from air in order to extract pure oxygen. The oxygen concentrated using these devices can be up to 95% pure. The device draws air in, passes it through a filter, and then compresses it. The filters take up nitrogen and let oxygen to pass through, collecting it in a tank. Thereafter, the compressed oxygen is delivered through a facemask or open prongs beneath the nostrils via a tiny tube that extends from the device.

Portable oxygen concentrators are also available that run on rechargeable battery and are mostly equipped to supply oxygen by pulse dose, wherein tiny bursts of oxygen get released during each breathe. It is important to note that oxygen concentrators require constant power supply to operate. Medical oxygen concentrators are prescribed to patients suffering from chronic obstructive pulmonary disease (COPD), asthma, emphysema, cystic fibrosis, among others. Additionally, in high altitude locations, athletes also require oxygen concentrators in order to reduce fatigue and enhance training.

It is worth noting that in the U.S. alone, annually more than 1.5 million individuals require supplemental oxygen therapy. Further, as per estimates from the UNICEF, in low- and middle-income countries (LMICs), over 7 million children suffer from severe pneumonia every year. The rising levels of air pollution also contribute to the surging burden of respiratory diseases. The World Health Organization reports that almost the entire global population is exposed to polluted air, with LMICs suffering from highest exposures. The aforementioned factors are cumulatively leading to an increased demand for oxygen therapy. Specifically, during COVID-19 pandemic, the demand for oxygen concentrators skyrocketed as infected patients required long term oxygen therapy. The WHO estimated that 20-40% of mortality due to pneumonia, during the COVID-19 pandemic were preventable with sufficient oxygen supply. However, the recent years have witnessed numerous advancements in medical oxygen concentrator technology with the advent of precise oxygen delivery mechanisms.

Modern oxygen concentrators utilize pulse flow mechanism that dynamically accommodate to evolving requirements of the patient. In the future, oxygen concentrators are anticipated to be smaller and carried in a pocket or worn on a belt, offering respiratory care patients with enhanced mobility. Compact compressors and more efficient batteries would also allow for compact oxygen concentrators, as technology advances. With the integration of artificial intelligence and machine learning, oxygen concentrators can precisely analyze breathing patterns and modify oxygen delivery. The advent of this breakthrough technology is poised to eliminate uncertainties and result in personalized therapy regimens.

Key Findings of Market Report

Blood oxygen levels below normal constitute the medical condition known as hypoxemia.Medicinal oxygen concentrators are a useful tool for treating hypoxemia.These concentrators are a good and appropriate choice for providing oxygen at the point of care.A research published in the Lancet Global Health in 2022 found that the prevalence of hypoxemia was 31% among all children with WHO-classified pneumonia, 41% among those with very severe or severe pneumonia, and 8% among those with non-severe pneumonia.Therefore, the market demand for medical oxygen concentrators is being driven by the high frequency of hypoxemia among children who have severe pneumonia.

Market Trends for Medical Oxygen Concentrators

Refilling medical oxygen concentrators is not necessary. These concentrators provide 90% to 95% pure oxygen by continually purifying ambient air. They provide infinite oxygen and are powered by electricity. When compared to compressed gas cylinders, these concentrators are more economical.Batteries and other accessories have an impact on the cost of new home oxygen concentrators. Even less expensive are used oxygen concentrators, depending on the model, hours, and guarantee. In order to reduce the cost of concentrators, certain businesses in the medical oxygen concentrator sector are providing rental services and reconditioned oxygen concentrators.One of the primary factors preventing the medical oxygen concentrator market from growing is the lack of proper maintenance, training, equipment selection, and acquisition in developing nations.

Medical Oxygen Concentrators Market Report Scope:

Report Coverage

Details 

Forecast Period  

2024-2034

Base Year  

2020-2022

Size in 2023

US$ 3.4 Bn

Forecast (Value) in 2034

US$ 7.1 Bn

Growth Rate (CAGR) 

6.9 %

No. of Pages 

171 Pages 

Segments covered 

By Modality, By Technology, By End-user, By Region

Global Market for Medical Oxygen Concentrators: Regional Outlook

Asia Pacific accounted for the highest proportion in 2023. The region’s market dynamics are being driven by an increase in the prevalence of hospital-based pneumonia.Pneumonia in children is a serious clinical and public health concern. About 20% of all pediatric fatalities worldwide include pneumonia, with the majority of those deaths occurring in India.The market share of medical oxygen concentrators in Asia Pacific is also increasing due to the high frequency of respiratory illnesses. China accounted for 24% of all new diagnoses, 21% of all prevalent cases, 32% of all deaths, and 27% of all DALYs from chronic obstructive pulmonary disease globally in 2019, according to estimates from the Global Burden of Disease Study.

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Global Medical Oxygen Concentrators Market: Competitive Landscape

In order to further improve goods and maintain their competitiveness in the market, significant companies competing in the landscape are employing direct patient input in their research and development activities.

Additionally, they provide portable electronics that are perfect for usage in homes, workplaces, and transit. The following companies are well-known participants in the global medical oxygen concentrators market:

Chart Industries Inc.Inogen Inc.Invacare CorporationKoninklijke Philips N.V.ResMed Inc.Drive DeVilbiss HealthcarePrecision Medical, Inc.Besco Medical Co., Ltd.02 Concepts, LLCGCE Group

Some key developments by the players in this market are:

In order to better service its clients in the Asia Pacific area, the oxygen supply producer CAIRE opened a brand-new, innovative medical technology center in Chengdu, China, in March 2024. Along with a variety of specific AirSep commercial oxygen concentrators, the facility will produce the Eclipse 5 portable oxygen concentrator and the VisionAire 5 stationary oxygen concentrator for the firm.O2 Concepts declared in January 2024 that the Oxlife LIBERTY, their most cutting-edge proof of concept device, now has greater continuous flow capabilities. The Oxlife LIBERTY is equipped with the business’s unique DNA Technology, an intelligent cellular technology that is launched by the device and links DMEs to device data to enable unprecedented levels of inventory control, asset management, and operating efficiency.

Global Medical Oxygen Concentrators Market Segmentation 

By Modality

PortableStationary

By Technology

Pulse FlowContinuous Flow

By End User

HospitalsHome CareAmbulatory Surgical Centers

By Region

North AmericaLatin AmericaEuropeAsia PacificMiddle East & Africa

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Have a Look at More Valuable Insights of Healthcare

Stethoscope Market: The global stethoscope market is likely to expand at a CAGR of 5.5% from 2022 to 2032. People today are more willing to opt for physical examinations and undertake diagnoses with the inclination toward health and fitness.Hybrid Operating Room Market: The global Hybrid Operating Room Market is expected to grow at a CAGR of 7.7% from 2022 to 2031.Oxidative Stress Assays Market is expected to grow at a CAGR of 9.4% from 2024 to 2034 and reach US$ 2.8 Bn by the end of 2034

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Luxor Expands LuxOS to MicroBT WhatsMiner, and MicroBT Intends for a Strategic Investment

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SEATTLE, April 26, 2026 /PRNewswire/ — Today, Luxor Technology Corporation (“Luxor”) announces the expansion of LuxOS firmware support to MicroBT WhatsMiner series miners, growing the LuxOS ecosystem. In addition, MicroBT, via its investment manager Inflection Technology Limited (“ITL”), has signed a term sheet to make a strategic investment into Luxor. Luxor has also committed to a US$100,000,000 purchase of MicroBT WhatsMiner hardware.

Luxor is working directly with a select group of mining partners to deploy and expand model support over time. With more than 300,000 Bitcoin mining machines already running LuxOS globally, Luxor brings to the WhatsMiner ecosystem the same enterprise-grade firmware infrastructure that large-scale mining operators rely on. MicroBT hardware represents a significant share of global Bitcoin mining capacity, and with this expansion, those operators now have access to flexible firmware features.

WhatsMiner fleets running LuxOS gain access to Power Targeting, Advanced Thermal Management, safe rapid curtailment, and faster ramp-up time — unlocking new capabilities beyond stock settings. Power Targeting delivers consistent, predictable performance across individual machines and makes infrastructure planning easier at scale. When shifting power targets, LuxOS completes the transition in 30-60 seconds while continuing to hash at higher hashrates — capturing additional hashrate. LuxOS also improves ramp-up time across curtailment events, reaching full capacity faster and reducing the unharvested hashrate lost every time machines cycle. Initial support spans select models in the M50 series. For the full list of supported models, visit docs.luxor.tech.

“We are excited to build on the MicroBT WhatsMiner platform. We are consistently impressed by their ability to execute with high-quality machines. Our clients have been asking for WhatsMiner firmware for years, and we have shipped a product that is going to help deliver significant profitability and usability benefits. We are also excited to welcome MicroBT as a strategic investor.”

— Lauren Lin, Head of Hardware and Software of Luxor

“Luxor has continued to be one of MicroBT’s trusted global partners. With their talented engineering team, we are excited they are building on top of the Whatsminer platform. We are happy to be taking a strategic position in Luxor and supporting their continued growth through this hardware partnership.”

— Dr.Yang, CEO and Co-Founder of MicroBT

Operators running LuxOS have access to Luxor’s full-stack mining experience: pool, hashrate derivatives, energy services, and Luxor Commander for fleet management — unified under a single platform. Commander includes Intelligent Miner, which keeps fleets running at peak profitability by continuously adjusting power settings based on real-time hashprice and energy prices.

Luxor is rolling out LuxOS for WhatsMiner in a phased approach, onboarding operations directly to ensure a high-quality deployment experience. Mining operations running WhatsMiner hardware can express interest in access at luxor.tech/contact.

About Luxor Technology Corporation

Luxor delivers hardware, software, and financial services that power the global compute and energy industry. Its product suite spans Bitcoin Mining Pools, ASIC Firmware, Hardware trading, Hashrate Derivatives, Energy services, a Miner Management software, Commander, and a bitcoin mining data platform, Hashrate Index.

If you are interested in contacting Luxor, please email sales@luxor.tech.

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SOURCE Luxor Technology

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GLN Connects to Vietnam’s National QR Network, Enabling Nationwide QR Payments

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Direct access to Vietnam’s nationwide QR payment networkEnabling payments via partners’ home-market banking and fintech apps without currency exchange

SEOUL, South Korea, April 26, 2026 /PRNewswire/ — GLN International has launched a nationwide QR payment service in Vietnam in partnership with NAPAS, marking its direct integration into the country’s national QR payment infrastructure.

The service was introduced at a launch ceremony on April 23 in Vietnam, attended by the State Bank of Vietnam (SBV), NAPAS, BIDV, and Hana Bank.

GLN leads the operation of the payment system connected to Vietnam’s national QR network and has driven its technical integration, as part of Hana Financial Group’s cross-border initiatives. Hana Bank participates as the only Korean financial institution designated as a settlement bank under SBV approval.

Vietnam’s payment infrastructure is built on the VietQR Global system operated by NAPAS, linking banks and merchants nationwide. Through this integration, GLN enables users of partner apps to access the network, expanding acceptance. The partnership is also expected to support inbound use cases, allowing Vietnamese users to make QR payments in Korea via their local apps.

The service is available across tourist destinations, including Da Nang, Phu Quoc, Nha Trang, and Ho Chi Minh City, across everyday merchants. Payments can be made through GLN-connected partner applications, including major Korean fintech apps such as Toss, PurpleGLN, Hana OneQ, Hana Money, and Hana Card, without currency exchange. The service is expected to expand to platforms, including Naver Pay and KB Banking App.

Seok Lee, CEO of GLN, said, “This launch marks a significant step in connecting Korea and Vietnam through a unified QR payment infrastructure. By integrating with Vietnam’s national QR network, we enable a simple payment experience for travelers using the apps they already use in their home market, without currency exchange. We will continue to lead overseas payments and cash withdrawals without physical cards.”

Meanwhile, GLN, a subsidiary of Hana Bank under Hana Financial Group, provides QR payment and QR withdrawal services across 14 countries in Asia, including Vietnam, China, Thailand, the Philippines, Laos, and Japan, with access to more than 200 million QR merchants globally. The company is a leading cross-border payment infrastructure provider in Asia, connecting users and merchants across markets. It has also established partnerships with overseas financial platforms, including Moreta Pay (North America), DeCard App (Singapore), and Taishin Bank (Taiwan).

 

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SOURCE GLN International

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VARON Celebrates 5 Years Supporting Easier Breathing for Customers Worldwide

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NEW YORK, April 24, 2026 /PRNewswire/ — VARON is celebrating a meaningful milestone, its 5th anniversary, and is taking this moment to thank customers around the world who have trusted its oxygen therapy solutions over the years. What started as a mission to make breathing support more accessible has grown into a global community of users relying on VARON’s advanced oxygen machines in their daily lives.

This anniversary is not just about the company’s growth, but about the people behind it—the individuals and families who have chosen VARON for comfort, independence, and peace of mind.

Five Years of Supporting Easier Breathing and Everyday Living

Over the past five years, VARON has focused on one simple idea: making oxygen therapy easier to use, easier to move with, and easier to trust. From home use to travel needs, the brand has continued improving its range of oxygen machines to support different lifestyles and health needs.

Today, VARON offers a full lineup that includes compact portable oxygen concentrator models and reliable at home oxygen concentrator systems designed for long-term use. Many users also prefer VARON’s lightweight oxygen concentrator options, which allow more freedom of movement without sacrificing performance.

“Our customers are at the center of everything we do,” VARON CEO shared in a message marking the anniversary. “We are deeply grateful for the trust placed in us over the past five years. Every device we create is built with real people and real daily needs in mind.”

Designed for Real Life: Home and On-the-Go Oxygen Support

VARON’s oxygen solutions are designed to fit into everyday routines—whether at home, during travel, or while staying active.

At home users continue to rely on models like the Serene 5 Home Oxygen Concentrator, which delivers steady medical-grade oxygen with quiet operation and simple controls. The Serene 3 offers a compact option for those who want efficient oxygen support in a smaller footprint.

For users needing flexibility, the VH-2 Pro Home Oxygen Concentrator provides adjustable flow settings and added features like nebulization support, making it a practical choice for daily home use.

On the portable side, VARON continues to expand independence for users who need oxygen on the move. The VP-8G Ultra Portable Oxygen Concentrator stands out for its ultra-lightweight design at just 4.37 lbs, making it easy to carry while traveling or running errands. The VP-6 Continuous Portable Oxygen Concentrator and VP-2 Portable Oxygen Concentrator offer additional options with adjustable flow settings and dependable oxygen delivery.

Each portable oxygen concentrator is designed with user comfort in mind—lightweight, easy to operate, and built for mobility without stress.

A Simple Way to Say Thank You: Anniversary Discounts and Free Gifts

To celebrate its 5th year, VARON is launching a limited-time global appreciation event with special savings across its entire product range.

Customers can enjoy featured anniversary offers:

18% OFF sitewide across all oxygen machinesFree VARON gifts, including a $30 store gift card and extra nasal cannulas with every machine purchaseUp to 40% OFF selected featured productsAutomatic discounts applied at checkout—no codes needed

Customers can also save more with bundle options such as the VP-8G Super Bundle and extra battery packages for VP-6 and VP-2 models.

“These anniversary offers are our way of saying thank you,” VARON CEO shared. “We want to make it easier for more people to access reliable oxygen support at home and on the go.”

Looking Ahead with Customers at the Center

As VARON moves into its sixth year, the company remains focused on improving its oxygen therapy technology and expanding accessibility worldwide. Future development will continue to focus on making portable oxygen concentrator devices lighter, more efficient, and easier to use in everyday life.

The goal remains simple: to help more people breathe easier and live with greater confidence and independence.

About VARON

VARON is a trusted provider of oxygen therapy solutions, offering a wide range of at home oxygen concentrator systems, portable oxygen concentrator devices, and advanced oxygen machines designed for home, travel, and personal use. The company is committed to creating lightweight oxygen concentrator technology that supports comfort, mobility, and better quality of life.

For more information on VARON’s 5th anniversary offers and full product lineup, customers are encouraged to visit the official VARON website.

Media Contact:
VARON Oxygen Concentrator
Email: support@varoninc.com
Website: https://varoninc.com/

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SOURCE Varon oxygen concentrator

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