The rising Incidence of Persistent Respiratory Disorders is Escalating the Growth of the Oxygen Therapy Market

In recent times, with the rising environmental pollution and deterioration of general public health, the increasing incidence of chronic respiratory diseases is driving the growth of the oxygen therapy market. Furthermore, Oxygen therapy devices witnessed significant demand during the COVID-19 pandemic as it was included in the first line of treatment for critically ill patients with coronavirus infections. Also, a significant shortage of ventilators globally resulted in an increased demand for oxygen concentrators. Additionally, factors such as the growing geriatric population, rising demand for home healthcare and rapidly increasing hospital infrastructure in developing countries are boosting the demand for oxygen therapy in the market during the forecasted timeline. The market players in the area are continuously working toward better and more efficient solutions and evolving the life of available products which will complement the market growth.

According to Marketlook Consulting’ research report “Global Oxygen Therapy Market Analysis, 2021”, the oxygen therapy market is anticipated to grow at a CAGR of 10.4% during 2022-29. The market would reach USD 35.5 billion by 2029.

Based on the type of product, the market is segmented into oxygen source equipment - oxygen cylinders, oxygen concentrators, liquid oxygen devices, PAP devices, and oxygen delivery devices - oxygen masks, nasal cannulas, venturi masks, and others. Oxygen source equipment accounted for the largest market share in 2021 and is expected to dominate the market during the forecast period owing to its high availability and utilization in the form of O2 concentrators, compressed gas systems, cylinders, and liquid oxygen. In addition, the advent of technologically advanced oxygen source devices, which offer efficient patient care, is expected to boost the industry’s growth.

“Global Oxygen Therapy Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for oxygen therapy providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on leading regions, North America dominated the global oxygen therapy market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29 due to the extensive O2 treatment research and development activities for developing advanced solutions. Due to urbanization and occupational risks, this region also has a higher risk of developing respiratory illnesses which are projected to fuel the demand for the oxygen therapy market in the forthcoming period as stated in Marketlook Consulting research report “Oxygen Therapy Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Oxygen Therapy market are GE Healthcare, Invacare Corporation, Inogen, IUC Medical (Smiths Medical), HERSILL S.L., Fisher & Paykel Healthcare Limited, Philips Respironics, Inc., DeVilbiss Healthcare, Tecno-Gaz Industries, Allied Healthcare Products, Inc.

Market Segmentation:

• By Product (Oxygen Source Equipment - Oxygen Cylinders, Oxygen Concentrators, Liquid Oxygen Devices, PAP Devices, and Oxygen Delivery Devices - Oxygen Masks, Nasal Cannula, Venturi Masks, Non-rebreather Masks, Bag Valve Masks, CPAP Masks, Others)
• By Application (Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, Pneumonia, Others)
• By End Use (Non-home Healthcare, Home Healthcare)
• By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)
• By Company (GE Healthcare, Invacare Corporation, Inogen, IUC Medical (Smiths Medical), HERSILL S.L., Fisher & Paykel Healthcare Limited, Philips Respironics, Inc., DeVilbiss Healthcare, Tecno-Gaz Industries, Allied Healthcare Products, Inc.)

Key questions answered in the study:

• What are the current and future trends of the Oxygen Therapy industry?
• How the industry has been evolving in terms of user types demand and application areas?
• How the competition has been shaping across the countries followed by their comparative factorial indexing?
• What are the key growth drivers and challenges for the Oxygen Therapy industry?
• What is the customer orientation, purchase behavior, and expectations from the Oxygen Therapy firms across various regions?