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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The oxygen therapy market was valued at USD 38.45 billion in 2023.
The market is expected to grow at a CAGR of 7.7% from 2024 to 2032 to reach a value of USD 74.96 billion by 2032.
The market is being aided by the rising cases of chronic respiratory diseases, which requires supplement oxygen for the wellbeing of patients.
The market is driven by increasing research and development (R&D) by the leading players, the rising prevalence of portable oxygen concentrators, and the surging cases of pneumonia during the coronavirus pandemic.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products of oxygen therapy in the industry are oxygen source equipment and oxygen delivery devices.
The dominant applications of oxygen therapy are chronic obstructive pulmonary disease, asthma, obstructive sleep apnea, respiratory distress syndrome, and cystic fibrosis, among others.
The significant end uses in the market are home healthcare and hospitals.
The major players in the industry are Hersill S.L., Philips Respironics, Inc., DeVilbiss Healthcare LLC, Smiths Group plc, and Teleflex Incorporated, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124