Oxygen Therapy Equipment Market Size Worth USD 10.29 Billion in 2032 - Emergen Research

The global oxygen therapy equipment market size was USD 5.30 Billion in 2022 and is expected to register a revenue CAGR of 6.9% during the forecast period. The global oxygen therapy equipment market is experiencing robust growth, driven by the rising incidence of chronic respiratory conditions such as Chronic Obstructive Pulmonary Disease (COPD), technological advancements, and increasing adoption of home healthcare solutions. As healthcare systems worldwide strive to meet growing demands for respiratory support, the market for oxygen therapy equipment is poised for continued expansion.

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Market Drivers: Prevalence of COPD and Demand for Respiratory Support

The prevalence of COPD is one of the most significant factors propelling the demand for oxygen therapy equipment. According to the World Health Organization (WHO), the Global Burden of Disease Study reported 251 million cases of COPD worldwide in 2022, a figure expected to rise due to aging populations and increased smoking rates in many countries. As COPD becomes more widespread, patients rely increasingly on oxygen therapy to manage symptoms and improve quality of life. This growing need for effective respiratory support is boosting the oxygen therapy equipment market's revenue.

Additionally, technological advancements in oxygen delivery systems have played a pivotal role in the market's growth. The development of more efficient and user-friendly devices, particularly portable oxygen concentrators, has made oxygen therapy more accessible for home healthcare, allowing patients to receive respiratory care in the comfort of their homes. These innovations, along with growing awareness of the benefits of early and continuous oxygen therapy, are driving further demand.

Challenges: Regulatory and Economic Barriers

Despite the positive outlook, the market faces several challenges. Stringent regulatory requirements in the healthcare sector can slow down the development and distribution of oxygen therapy equipment, increasing production costs. Additionally, limited healthcare budgets in certain regions may hinder the adoption of advanced oxygen therapy devices.

Global supply chain disruptions, such as those experienced during the COVID-19 pandemic, also impacted production and distribution, creating temporary shortages of oxygen therapy equipment. Furthermore, in some areas, a lack of awareness about the advantages of oxygen therapy limits the market's potential growth.

Segment Insights: Stationary Devices Lead the Market

The oxygen therapy equipment market is segmented by portability into stationary and portable devices. In 2022, stationary devices held the largest market share. These devices offer a continuous oxygen supply, making them ideal for patients with chronic respiratory conditions like COPD or severe asthma, who require sustained oxygen therapy.

Stationary oxygen concentrators have seen significant advancements, becoming quieter and more compact, enhancing their appeal for home healthcare use. Their reliability, coupled with features such as adjustable flow rates for personalized care, has cemented their popularity among patients and healthcare providers alike.

Application Insights: COPD Segment Dominates

Among applications, the COPD segment accounted for the largest share of the oxygen therapy equipment market in 2022. The increasing global awareness of COPD symptoms, such as airflow limitation and persistent respiratory issues, has driven the need for supplemental oxygen therapy.

As the world's population continues to age and risk factors like smoking persist, the demand for oxygen therapy among COPD patients is expected to rise. Oxygen therapy plays a crucial role in improving respiratory function, alleviating symptoms, and enhancing the quality of life for these patients. The COVID-19 pandemic has further heightened awareness of respiratory health, contributing to early detection and management of conditions like COPD, further boosting demand for oxygen therapy equipment.

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 End-Use Insights: Hospitals as Key Consumers

Hospitals are the largest end-users of oxygen therapy equipment, accounting for the highest market share in 2022. Investments in healthcare infrastructure, coupled with the high prevalence of respiratory diseases, have driven demand for oxygen therapy devices in hospital settings. Hospitals are critical in managing respiratory health, particularly in emergencies and critical care scenarios where immediate access to oxygen is essential.

Oxygen therapy is vital in treating conditions like pneumonia, Acute Respiratory Distress Syndrome (ARDS), and post-surgical complications. As healthcare systems continue to expand their capacity to address respiratory-related illnesses, the demand for oxygen therapy equipment in hospitals is expected to grow steadily.

Oxygen Therapy Equipment Top Companies and Competitive Landscape

The global oxygen therapy equipment market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective oxygen therapy equipment solutions.

Some major players included in the global oxygen therapy equipment market report are:

Fisher & Paykel Healthcare Limited

Allied Healthcare Products, Inc.

Caire Inc.

Drive DeVilbiss International

Koninklijke Philips N.V.,

Hersill

Invacare Corporation

Tecno-Gaz S.p.A.

Inogen, Inc.

Teleflex Incorporated

Oxygen Therapy Equipment Latest Industry Updates

On July 2021, Belluscura signed a third distribution deal and first agreement with a durable medical equipment provider, for its X-PLO2R portable oxygen concentrator portfolio. The durable medical equipment has multiple stores in several states and an online store. Meanwhile, the third distributor has issued its first purchase order with anticipated delivery of the X-PLO2R portable oxygen concentrator expected in less than ninety days.

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For the purpose of this report, Emergen Research has segmented the global oxygen therapy equipment market on the basis of product, portability, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Oxygen Cylinders

Oxygen Concentrators

Liquid Oxygen Devices

Others

Portability Outlook (Revenue, USD Billion; 2019-2032)

Stationary devices

Portable devices

Application Outlook (Revenue, USD Billion; 2019-2032)

Asthma

Obstructive Sleep Apnea

Chronic Obstructive Pulmonary Disorder (COPD)

Respiratory Distress Syndrome

Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Home Healthcare

Ambulatory surgical devices

Others

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of MEA

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Oxygen Therapy Equipment Market Size@ https://www.emergenresearch.com/industry-report/oxygen-therapy-equipment-market/market-size

Oxygen Therapy Equipment Market Share@ https://www.emergenresearch.com/industry-report/oxygen-therapy-equipment-market/market-share

Oxygen Therapy Equipment Market Trends@ https://www.emergenresearch.com/industry-report/oxygen-therapy-equipment-market/market-trends

Oxygen Therapy Equipment Regional Market Demand@ https://www.emergenresearch.com/industry-report/oxygen-therapy-equipment-market/regional-market-demand

Oxygen Therapy Equipment Market Analysis@ https://www.emergenresearch.com/industry-report/oxygen-therapy-equipment-market/market-analysis

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