Global Oxygen Therapy Market Report and Forecast 2024-2032

Global Oxygen Therapy Market Outlook

The global oxygen therapy market size attained a value of USD 38.45 billion in 2023. The market is anticipated to grow at a CAGR of 7.7% during the forecast period of 2024-2032 to attain a value of USD 74.96 billion by 2032.

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Rise of Chronic Respiratory Diseases Owing to Surging Pollution and Tobacco Smoking Aiding the Market Growth

According to the World Health Organisation (WHO), more than 1 billion people in the world suffer from chronic respiratory issues. The rising cases of chronic obstructive pulmonary disease (COPD) caused by rising pollution levels and tobacco smoking are increasing the demand for supplement oxygen to improve survival chances and improve the quality of life of the patients. This is augmenting the growth of the oxygen therapy industry. Moreover, the rising awareness regarding hypoxaemia, which is one of the leading causes of child deaths worldwide, requires the use of supplement oxygen and is further boosting the market growth. The increasing efforts by UNICEF to provide oxygen concentrators in various countries are also aiding the market growth.

The growing geriatric population in Europe who are more prone to respiratory problems is providing further impetus to the market growth. Moreover, the introduction of favourable government incentives to aid the treatment of chronic illness and provide required supplement oxygen are further invigorating the market growth. Furthermore, increasing innovations to provide personalised and efficient oxygen therapy at home is also fuelling the industry growth. The market in North America is rapidly growing owing to escalating research and development (R&D) and the adoption of the latest technological advancements by the leading companies. Moreover, they are investing in digital marketing and expanding their online presence, which is also accelerating the industry growth, further contributing to the overall market growth.

Oxygen Therapy: Market Segmentation

Oxygen therapy, variously known as supplement oxygen, is a treatment that provides oxygen to patients with breathing disorders. It aids in improving the energy level, sleep, and quality of life of patients. Oxygen can be supplied through various ways, including face masks, nasal cannula, and bag valve masks, among others.

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Based on the products, the market is divided into:

• Oxygen Source Equipment
• Oxygen Cylinders
• Oxygen Concentrators
• Liquid Oxygen Devices
• PAP Devices
• Oxygen Delivery Devices
• Oxygen Masks
• Nasal Cannula
• Venturi Masks
• Non-Rebreather Masks
• Bag Valve Masks
• CPAP Masks
• Others

The major applications of oxygen therapy are:

• Chronic Obstructive Pulmonary Disease
• Asthma
• Obstructive Sleep Apnea
• Respiratory Distress Syndrome
• Cystic Fibrosis
• Others

The market can be broadly categorised on the basis of its end uses into:

• Home Healthcare
• Hospitals

The EMR report looks into the regional markets of oxygen therapy like North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

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Growing Cases of Pneumonia Owing to the Second Wave of the Coronavirus Pandemic to Bolster the Market Growth

The demand for oxygen therapy is increasing significantly due to the surge of the coronavirus pandemic. As COVID-19 can lead to pneumonia and make it difficult or impossible to breathe, patients require supplement oxygen, which is augmenting the market growth. The escalating demand for oxygen supplements in hospitals due to the pandemic is further aiding the market. Moreover, the development of COVID speciality hospitals in various countries to contain the virus is also increasing the demand for oxygen therapy, consequently propelling the market growth. In addition, the growing demand for portable oxygen concentrators for patients in home isolation is further driving the market growth.

The surge of the second wave of the pandemic in various countries, such as India, Laos, Nepal, Singapore, South Africa, and Cambodia, among others, is resulting in the mutations of the virus and the development of deadlier strains, which, in turn, is increasing the demand for oxygen supplements, consequently facilitating the market growth. The increasing investments by the governments and major companies to aid the demand for oxygen cylinders and concentrators are also boosting the market growth. Moreover, with the rising technological advancements and the adoption of innovative practices, major companies are developing superior oxygen therapy for home healthcare. The companies are investing in research and development (R&D) to develop cost-effective, disposable, risk-free, and advanced products for oxygen therapy. This is expected to catalyse the market growth further.

Key Industry Players in the Global Oxygen Therapy Market

The report presents a detailed analysis of the following key players in the global oxygen therapy market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Hersill S.L.
• Philips Respironics, Inc.
• DeVilbiss Healthcare LLC
• Smiths Group plc
• Teleflex Incorporated
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

Oxygen Therapy Market Report Snapshots

Oxygen Therapy Market Size

Oxygen Therapy Market Growth

Oxygen Therapy Companies