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Global Oxygen Therapy Market is Likely to Grow at a CAGR Value of 9.80 % By 2028

09-Aug-2022 | Facts and Factors

According to Facts and Factors, the global oxygen therapy market size was worth around USD 16,294.10 million in 2021 and is estimated to grow to about USD 28,552.51 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.80% over the forecast period. The report analyzes the oxygen therapy market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the oxygen therapy market.

The intervention used to assist a patient with a medical condition in acquiring adequate oxygen is called oxygen therapy. When a patient's oxygen supply is inadequate, such as with asthma, COPD, or other disorders, oxygen therapy is utilized to treat the condition. An increased requirement for oxygen treatment is brought on by an increase in acute and chronic illnesses. Depending on their specific requirements, patients can choose from a variety of oxygen therapy options, including oxygen concentrators, liquid oxygen, and hyperbaric oxygen therapy. Since oxygen is required for a variety of cell metabolisms and tissue oxygenation is crucial for proper physiological function, oxygen therapy employs oxygen gas to treat acute or chronic patients. Oxygen treatment is done when the blood's oxygen levels are low. It may be administered in some ways, from nasal spray to hyperbaric oxygen in a sealed space. A group of organs and tissues is known as the respiratory system supporting breathing. The lungs, nasal passages, and windpipe comprise the respiratory system. Air enters the body through the mouth or nose and is carried by the bronchi through the windpipe to the lungs.

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Browse the full “Oxygen Therapy Market Size, Share, Growth Analysis Report By Product (Oxygen Source Equipment, Oxygen Delivery Devices), By Application (Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, Pneumonia), By End-use (Hospitals, Home Healthcare), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/oxygen-therapy-market

Due to the rising number of patients with respiratory disorders who require OTD practically constantly, the market for oxygen treatment devices (OTD) is booming. The demand for such devices is fueled by the pressure on healthcare facilities to manage patients who require OTD all the time. Additionally, the market for oxygen treatment equipment is expanding due to rising pollution and cigarette use. The development of many significant market participants on a global scale and the appearance of novel products are projected to assist the global oxygen treatment market during the forecast period.

Segmental Overview

The global oxygen therapy market is segregated based on product, application, end-user, and region.

Based on product, the market is divided into oxygen source equipment and oxygen delivery devices. In 2021, oxygen source equipment dominated the market. On the basis of application, the market is classified into COPD (chronic obstructive pulmonary disease), asthma, obstructive sleep apnea, RDS, cystic fibrosis, pneumonia, and others. COPD (chronic obstructive pulmonary disease) segment led the market in 2021 and is expected to maintain its dominance during the forecast period. Based on end-user, the market is classified into hospitals, home care, and other end-users. In 2021, the market was dominated by the hospital category.

Regional Overview

Due to significant expenditures and O2 treatment trials taking place in North America, this region led the market. This is because there are more end users in this area, and more people are aware of the advantages of oxygen treatment in hospitals. On the other hand, Asia-Pacific is anticipated to see the greatest growth rate throughout the projection period because of the region's expanding penetration of foreign players and rising R&D activity. For instance, research was done to determine the effectiveness of long-term O2 therapy by the British Medical Research Council and North American Nocturnal Oxygen Therapy.

Additionally, the rising use of topical wound oxygen (TWO) therapy and hyperbaric oxygen therapy in this area is boosting market demand. In addition, this area has a significant risk of respiratory illnesses due to urbanization and occupational dangers, which is predicted to spur growth throughout the projection period. During the projected period, it's expected that the Asia Pacific region will experience exponential development.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 16,294.10 Million

Projected Market Size in 2028

USD 28,552.51 Million

CAGR Growth Rate

9.80% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

GE Healthcare, Invacare Corporation, CareFusion Corporation, Smiths Medical, HERSILL S.L., Fisher & Paykel Healthcare Limited, Philips Respironics Inc., DeVilbiss Healthcare, Tecno-Gaz Industries, Allied Healthcare Products Inc., Teleflex Incorporated, Chart Industries, MAQUET Medical Systems, and Others

Key Segment

By Product, Application, End-Use, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Competitive Landscape

The report contains qualitative and quantitative research on the global oxygen therapy market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key players in the global oxygen therapy market include GE Healthcare; Chart Industries; Invacare Corporation; CareFusion Corporation; Smiths Medical; Tecno-Gaz Industries; HERSILL S.L.; Fisher & Paykel Healthcare Limited; Philips Respironics Inc.; DeVilbiss Healthcare; Allied Healthcare Products, Inc.; Teleflex Incorporated; and MAQUET Medical Systems.

Recent Development:

  • October 2021:  In the US, Movair unveiled a cutting-edge ventilator. Patients with COVID-19, COPD, chronic bronchitis, or bronchiectasis may transition to home settings more quickly with the Movair Luisa ventilator, authorized for emergency use by the FDA.

The global oxygen therapy market is segmented as follows:

By Product

  • Oxygen Source Equipment
  • Oxygen Delivery Devices

By Application

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

By End-Use

  • Hospitals
  • Home Healthcare

By Region

  • North America

    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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