Global Oxygen Therapy Market – Industry Trends and Forecast to 2029

Oxygen Therapy Market Analysis and Size

Oxygen therapy is widely used to treat a variety of chronic and acute health conditions. The therapy can be used in a hospital or pre-hospital setting (for instance, in an ambulance) to manage emergency situations or it can be used at home to manage long-term health conditions.

Data Bridge Market Research analyses that the oxygen therapy market which was USD 33.47 billion in 2021, would rocket up to USD 74.02 billion by 2029, and is expected to undergo a CAGR of 10.43% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Oxygen Therapy Market Scope and Segmentation      

Market Definition

Oxygen therapy refers to the inhalation or breathing of oxygen. Oxygen is an element that reacts with carbohydrates to form energy during the process of aerobic respiration and is considered essential for metabolic processes.

Global Oxygen Therapy Market Dynamics

Drivers

• Technological advancements

The introduction of technologically advanced oxygen source and delivery devices that provide efficient patient care is expected to boost industry growth. Among these advancements are flow regulating devices, sensors, and the integration of delivery devices and pulse dose metres. O2 therapy is becoming more popular due to the potential benefits such as controlled flow, efficient dosing, faster response rates, and greater durability and reliability. The above mentioned factors are expected to drive industry growth.

• Rising popularity of portable oxygen concentrators

Rising popularity and adoption of on-demand and continuous portable oxygen concentrators (POC) in a variety of applications such as emergency medicine will also fuel demand in the coming years. This increase is attributed to the entry of global competitors into the market, consumer demand for portable technology and the clinical urgency for greater mobility support for the geriatric population. The business is expected to grow as a result of continuous innovation, which results in more efficient units and lower prices.

Opportunities

• Rising demand of oxygen delivery devices

The availability of a wide range of delivery devices pertaining to different patients' inspiratory and physiological needs, the oxygen delivery devices segment is expected to exhibit a profitable growth rate. Furthermore, potential benefits such as constant O2 flow, the elimination of complex masks, variable pressure demand, and flow dilution are expected to boost demand in the coming years.

Restraints/Challenges

• Stringent regulations 

The major restraint that is expected to hamper the global oxygen therapy market growth is stringent rules and regulations that cause delays in product approvals. Also, the easy availability of low-cost alternatives by local key players is expected to hamper the growth of the global oxygen therapy market during the forecast period.

This oxygen therapy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the oxygen therapy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent developments

• In November 2021, UNICEF partnered with the UK government and Oxygen CoLab to create a powerful oxygen concentrator for use in low-resource settings. This progress is being made as part of an initiative to combat the coronavirus crisis and meet the demand for oxygen in critical care settings. The increased competition in the industry can be attributed to the growing number of players, frequent product approvals, and effective distribution agreements.

Global Oxygen Therapy Market Scope

The oxygen therapy market is segmented on the basis of product, disease type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Oxygen Source Equipment
• Oxygen Cylinders
• Fixed
• Portable
• Oxygen Concentrators
• Fixed
• Portable
• Liquid Oxygen Devices
• PAP Devices
• CPAP
• APAP
• Bi-PAP
• Oxygen Delivery Devices
• Oxygen Masks
• Nasal Cannula
• Venturi Masks
• Non-rebreather Masks
• Bag Valve Masks
• CPAP Masks
• Others

Disease Type

• Respiratory Disorder
• Cardiovascular Disease
• Pneumonia
• Sleep Apnea
• Others

 End User

• Hospitals
• Clinics
• Rehab Centers
• Home Healthcare
• Non-home Healthcare

Oxygen Therapy Market Regional Analysis/Insights

The oxygen therapy market is analysed and market size insights and trends are provided by country, product, disease type and end user as referenced above.

The countries covered in the oxygen therapy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the oxygen therapy market due to the growing occurrences of respiratory devices along with surging level of investment in research and development activities.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to growing commercialization along with investment on research and development activities by market players.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Oxygen Therapy Market Share Analysis

The oxygen therapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to oxygen therapy market.

Some of the major players operating in the oxygen therapy market are:

• General Electric (U.S.)
• Tecno-Gaz S.p.A (Italy)
• HERSILL (Spain)
• Koninklijke Philips N.V. (Netherlands)
• DeVilbiss Healthcare LLC (U.S.)
• Smiths Group plc. (U.K.)
• Allied Healthcare Products, Inc. (U.S.)
• Teleflex Incorporated (U.S.)
• Invacare Corporation (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• Essex Industries, Inc. (U.S.)
• OxyBand Technologies (U.S.)
• Nidek Medical Products, Inc (U.S.)

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