Oxygen Therapy Market Analysis, Demand, Forecast 2024-2032

Looking forward, IMARC Group expects the market to reach US$ 33.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.

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According to IMARC Group latest report titled “Oxygen Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on oxygen therapy market forecast. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global oxygen therapy market size reached US$ 18.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 33.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.

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Oxygen therapy is a medical intervention that involves administering supplemental oxygen to individuals with respiratory conditions or low blood oxygen levels. It is a crucial medical treatment for various conditions such as chronic obstructive pulmonary disease (COPD), pneumonia, and respiratory distress. The primary goal of oxygen therapy is to ensure an adequate supply of oxygen to the body's tissues and organs, improving overall oxygen saturation levels in the blood. This therapy is delivered through various devices, including nasal cannulas, face masks, or ventilators, depending on the severity of the respiratory impairment. Oxygen therapy helps alleviate symptoms such as shortness of breath, fatigue, and confusion, enhancing the patient's overall well-being and supporting the body's healing process. Proper monitoring and adjustment of oxygen levels are essential to optimize its effectiveness while minimizing the risk of complications.

Market Trends:

The global market is majorly driven by the rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and pneumonia. As the elderly population increases, so does the incidence of respiratory conditions, necessitating the use of oxygen therapy to manage and improve patients' respiratory function. Besides, advancements in technology have led to the development of innovative and more efficient oxygen delivery devices, enhancing patient comfort and compliance. Portable oxygen concentrators, for instance, have gained popularity, allowing individuals greater mobility and flexibility in their daily activities. Moreover, the growing awareness and understanding of the benefits of oxygen therapy among healthcare professionals and patients contribute to increased adoption. The therapy's efficacy in alleviating symptoms, improving quality of life, and supporting overall health drive its acceptance in diverse medical settings. Additionally, the ongoing COVID-19 pandemic has heightened the demand for oxygen therapy as respiratory support for severely affected patients. Furthermore, the expanding home healthcare sector and the preference for non-invasive respiratory interventions foster market growth, as more patients opt for in-home oxygen therapy solutions.

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Competitive Landscape

  • Allied Healthcare Products Inc.
  • Becton Dickinson and Company
  • DeVilbiss Healthcare LLC (Drive Medical Inc.)
  • Fisher Paykel Healthcare Limited
  • General Electric Company
  • Getinge AB
  • Hersill SL
  • Invacare Corporation
  • Koninklijke Philips N.V
  • Smiths Group plc
  • Tecno-Gaz S.p.A.
  • Teleflex Incorporated

Key Market Segmentation:

Our report has categorized the market based on region, product, application and end use.

Breakup by Product:

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

Breakup by Application:

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

Breakup by End Use:

  • Home Healthcare
  • Hospitals 

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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