The latest report by IMARC Group, titled “Oxygen Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the oxygen therapy market outlook. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
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 Market Trends:
The global oxygen therapy market is experiencing significant growth driven by the increasing prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD), asthma, and pneumonia, as oxygen therapy is essential for managing these conditions. Along with this, the rising incidence of cardiovascular diseases and the growing geriatric population, which is more susceptible to respiratory and cardiac conditions, further propel market demand. Technological advancements in oxygen delivery systems, including portable oxygen concentrators and lightweight devices, are enhancing patient mobility and compliance.
Additionally, the ongoing COVID-19 pandemic has significantly increased the demand for oxygen therapy due to the respiratory complications associated with the virus. Apart from this, the expansion of home healthcare services and the growing awareness about the benefits of oxygen therapy are also contributing to market growth. Furthermore, supportive government policies and reimbursement programs for home-based oxygen therapy are positively influencing market dynamics.
Oxygen Therapy Market Trends:
The scope of the global market encompasses a wide range of products and applications, including oxygen concentrators, compressed oxygen cylinders, liquid oxygen systems, and hyperbaric oxygen therapy (HBOT) devices. Market growth analysis indicates a robust upward trajectory, driven by the increasing adoption of home oxygen therapy due to its convenience and cost-effectiveness. The market is witnessing significant advancements in device technology, such as the development of portable and user-friendly oxygen delivery systems, which are enhancing patient quality of life.
Regional markets, particularly in North America and Europe, are experiencing strong growth due to advanced healthcare infrastructure and high awareness levels. The Asia-Pacific region is emerging as a lucrative market, fueled by increasing healthcare expenditure, improving access to medical care, and a growing patient population. Moreover, strategic collaborations between healthcare providers and medical device manufacturers are fostering innovation and expanding market reach. Consequently, the global oxygen therapy market is poised for sustained growth, supported by technological advancements, increasing applications, and strategic industry initiatives.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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
Oxygen Therapy 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, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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