Oxygen Therapy Market Size, Share, And Growth Report 2032

Oxygen Therapy Market Size

The global oxygen therapy market size was worth around USD 36.84 billion in 2023 and is predicted to grow to around USD 65.49 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.6% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the oxygen therapy market on a global and regional level.

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Oxygen Therapy Market: Overview

Oxygen therapy is the process of administrating oxygen as chronic or acute patient care, as it is important for various cell activities. Additionally, the normal oxygen level is required in the body to maintain the various physiological functions. Oxygen therapy is used for patients who cannot get enough oxygen naturally, due to various breathing disorders, such as asthma, COPD, sleep apnea, etc. These disorders affect the transfer of oxygen from alveoli to the blood. Breathing disorders affect the energy levels and normal functioning of the body. To improve breathing disorder, patients need to get supplemental oxygen through oxygen face masks, nasal cannulas, etc. Oxygen therapy is used on the basis of pulse proximity test and arterial blood gas test.

There are various factors that support the growth of the oxygen therapy market globally over the forecast period, such as the increase in the prevalence of breathing disorders, such as COPD, asthma, etc. As per the World Health Organization 2017, around 235 million globally suffer from asthma. Furthermore, technological advancements made in the existing oxygen delivery systems and favorable reimbursement policies are also expected to promote the growth of the global oxygen therapy market in the upcoming years. Strategic collaboration in the market coupled with innovation, product launches, and increased R&D investments is expected to offer ample opportunities in the future. However, the high developmental cost of advanced and innovative devices and constantly changing regulations and stringent policies may inhibit the growth of the global oxygen therapy market in the future.

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Oxygen Therapy Market: Segmentation

The study provides a decisive view of the oxygen therapy market based on oxygen source equipment, application, oxygen delivery devices, end-user, and regions. All the segments have been analyzed based on present and future trends in the market are estimated from 2024 to 2032.

By oxygen source equipment, the market is segmented into oxygen concentrators, compressed oxygen cylinders, and liquid oxygen systems.

By application, the market includes COPD, asthma, sleep apnea, respiratory distress syndrome, cystic fibrosis, pneumonia, and others.

Based on oxygen delivery devices, the market is fragmented into oxygen masks, bag valve masks, nasal cannulas, venturi masks, and others.

Based on end-user, the market is divided into hospitals and clinics, home healthcare, and rehabilitation centers.

Oxygen Therapy Market: Report Scope

Oxygen Therapy Market: Regional Analysis

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

By region, North America is likely to emerge as the largest oxygen therapy market globally over the forecast time period, which will be closely followed by Europe. The Asia Pacific is expected to be the fastest developing region over the estimated period. 

Oxygen Therapy Market: Competitive Players

Some players of the global oxygen therapy market are:

• 3M
• General Electric Company
• Koninklijke Philips N.V.
• DeVilbiss Healthcare
• Essex Industries Inc.
• Fisher & Paykel Healthcare Limited
• Inotec AMD Limited
• Invacare Corporation
• VitalAire
• O2 CONCEPTS
• OxyBand Technologies
• Nidek Medical Products Inc.
• MAQUET Holding B.V. & Co. KG.

The Global Oxygen Therapy Market is segmented as follows:

Global Oxygen Therapy Market: Oxygen Source Equipment Analysis

• Oxygen Concentrators
• Compressed Oxygen Cylinders
• Liquid Oxygen Systems

Global Oxygen Therapy Market: Oxygen Delivery Devices Analysis

• Oxygen Masks
• Bag Valve Masks
• Nasal Cannulas
• Venturi Masks
• Others

Global Oxygen Therapy Market: End-User Analysis

• Hospitals and Clinics
• Home Healthcare
• Rehabilitation Centers

Global Oxygen Therapy Market: Application Analysis

• COPD
• Asthma
• Sleep Apnea
• Respiratory Distress Syndrome (RDS)
• Cystic Fibrosis
• Pneumonia 
• Other

Global Oxygen Therapy Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa