What Has Been the Growth of the Oxygen Therapy Market So Far?
The oxygen therapy market has seen considerable growth due to a variety of factors.
• In the past few years, the market size for oxygen therapy has experienced robust growth. It's predicted to escalate from $28.42 billion in 2024 to $30.97 billion in 2025 with a compound annual growth rate (CAGR) of 9.0%. This growth over the historical period is due to factors such as the rising prevalence of respiratory illness and disorders, the increasing elderly population worldwide, government efforts to enhance healthcare infrastructure, the expansion of home healthcare services, and the rise in health issues related to smoking.
How Will the Oxygen Therapy Market?
The Oxygen Therapy market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for oxygen therapy is predicted to experience swift expansion in the upcoming years, escalating to $46.4 billion in 2029 with a compound annual growth rate (CAGR) of 10.6%.
The projected growth during the forecast period is due to advancements like innovative devices, customized treatments, R&D investments, the effects of climate change, as well as sports and fitness. Key trends in the forecast timeframe comprise value-based care models, progress in regulations, initiatives for patient education, alternative methods of oxygen delivery, and a design centered on the patient.
Which Factors Are Boosting Growth In The Oxygen Therapy Market?
The growth of the oxygen therapy market is anticipated to be fueled by the rising incidence of tobacco smoking. Tobacco smoking involves the burning of tobacco and inhaling its smoke, which is tasted and absorbed into the bloodstream. Many people with respiratory diseases related to smoking struggle with breathing and have lowered oxygen levels in their blood. Oxygen therapy then becomes a vital procedure, providing supplemental oxygen to ease breathing problems and enhance oxygen saturation levels. For example, the National Health Service, a government department based in the UK, reported in December 2023 that hospital admissions due to smoking rose to an estimated 408,700 in 2022–23 from 389,800 in 2021–22, marking a rise of 4.8%. As a result, the increase in tobacco smoking is fueling the expansion of the oxygen therapy market.
What Key Areas Define The Segmentation Of The Global Oxygen Therapy Market?
The oxygen therapy market covered in this report is segmented –
1) By Product: Oxygen Delivery Devices, Oxygen Source Equipment
2) By Portability: Stationary Devices, Portable Devices
3) By Application: Pneumonia, Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, Other Applications
4) By End User: Hospitals, Clinics, Home Care, Post Acute Care Settings
Subsegments:
1) By Oxygen Delivery Devices: Nasal Cannulas, Oxygen Masks, Venturi Masks, Non-Rebreather Masks
2) By Oxygen Source Equipment: Oxygen Concentrators, Compressed Oxygen Cylinders, Liquid Oxygen Systems, Portable Oxygen Systems
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How Are Emerging Trends Reshaping The Dynamics Of The Oxygen Therapy Market?
Key players in the oxygen therapy industry are generating groundbreaking items like portable oxygen concentrators to cater to the demands of individuals dealing with respiratory problems. Compact and lightweight, a portable oxygen concentrator is a medical apparatus that purifies the surrounding air to offer an unceasing, customizable stream of oxygen for patients with breathing disorders. Recently, in October 2022, O2 Concepts, a medical gadget production company in the United States, introduced Oxlife Liberty. This portable oxygen concentrator provides both constant flow and pulse dose oxygen delivery, with adjustable pulse flow settings from 1 to 9, offering an extensive assortment of oxygen supply options to accommodate different respiratory conditions, permitting a more personalized oxygen therapy experience. The device is fitted with the unique Dynamic Network Analysis (DNA) Technology of O2 Concepts which encourages the linkage of Durable Medical Equipment (DME) and device data for the augmentation of operational effectiveness, asset supervision, and inventory management. Innovative features and state-of-the-art technology of Oxlife Liberty define a new benchmark in terms of portability, adaptability, and clinical oxygen therapy, delivering a reliable and efficient solution for patients' oxygen therapy needs.
Who Are the Key Players In The Oxygen Therapy Market?
Major companies operating in the oxygen therapy market include:
• Smiths Medical Inc.
• Hersill SL
• Fisher & Paykel Healthcare Corporation Limited
• Invacare Corporation
• Teleflex Incorporated
• Koninklijke Philips N.V.
• Drive Devilbiss International
• Allied Healthcare Products Inc.
• Becton Dickinson and Company
• General Electric Company
• Getinge Group
• Essex Industries Inc.
• Chart Industries Inc.
• Drägerwerk AG & Co. KGaA
• Gas Control Equipment Group
• Thermo Fisher Scientific Inc.
• OxyBand Technologies Inc.
• Nidek Medical Products Inc.
• Linde Healthcare
• Taiyo Nippon Sanso Corporation
• Inogen Inc.
• Heinen + Löwenstein GmbH & Co. KG
• Messer Medical Austria GmbH
• TECNO-GAZ S.p.A
• HUM - Gesellschaft für Homecare und Medizintechnik mbH
• medicap homecare GmbH
• GCE Holding AB
• Salter Labs
• Vyaire Medical Inc.
• CAIRE Inc.
• Precision Medical Inc.
• O2 Concepts LLC
• AirSep Corporation
What Is The Most Dominant Region In The Oxygen Therapy Market?
North America was the largest region in the oxygen therapy market in 2024. The regions covered in the oxygen therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
