Global Oxygen Therapy Market by Product (Oxygen Source Equipment, Oxygen Delivery Devices, Dynamic, Static) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global oxygen therapy market was valued at USD 7.09 Billion in 2015. It is expected to grow at 11.1% CAGR over the forecast period. The market is driven by rising incidences of chronic respiratory disease and increasing demand for home healthcare.

According to the National Institutes of Health, nearly 12 million Americans have been diagnosed as having COPD. 120,000 people also die annually. Global Asthma Network (GAN) data shows that asthma affects almost 334 million people around the world. These products will be in high demand due to the increasing number of asthma patients. The industry will be driven by this expected increase in demand over the next few years.

The industry will also benefit from the introduction of technologically advanced oxygen sources and delivery devices that offer efficient patient care. These innovations include sensors and flow regulating devices. They also combine delivery devices with pulse dosimeters. O ₂ therapy is becoming more popular due to its potential benefits, such as controlled flow and efficient dosing, faster responses, greater durability and reliability, and greater durability. These factors will drive industry growth.

The future will see a rise in popularity and widespread adoption of portable oxygen concentrators (POC) for a variety of purposes, including emergency medicine. Global competitors are driving this demand, as well as the growing need for portable technology from consumers. The continuous innovation, which results in more efficient units at lower prices, is expected to drive the business to grow.

Product Insights

The oxygen source equipment segment held a substantial share of the market in 2015. It accounted for 66.1% due to its availability and high utilization in the form O ₂concentrators and compressed gas systems, as well as cylinders and liquid oxygen. These devices are also the main source and initiator for O ₂therapy. This is a major contributor to the overall industry's growth.

The oxygen source equipment segment is expected to see a significant growth in oxygen concentrators. Because of their use in medical emergencies, in rails and in aircraft, transportable concentrators will have significant growth potential. This will contribute to the demand for this segment.

Due to the availability of many delivery devices that cater to different patient's physiological and inspiratory needs, the oxygen delivery devices market is expected to grow in a profitable manner. The potential benefits associated with constant O ₂flow and elimination of complicated masks, flow demand and flow dilution will help to drive demand in the future.

The oxygen masks market is expected to grow at a steady rate due to their indispensable role in the O ₂ delivery system. This will result in an increase in consumption and a key contributor to future market growth. These devices are expected to be a key contributor to the future growth of the segment. They enable O 2 concentration delivery, continuous flow & pressure, patient comfort, and accurate O 2 concentration delivery.

Application Insights

Due to increasing COPD incidence, the Chronic Obstructive Pulmonary Disease (COPD) segment dominated this market with an impressive 38.13% share. According to WHO estimates, COPD is the fifth leading cause for death and affects approximately 65 million people. The increasing prevalence of COPD has led to a growing need for treatment. This is allowing the business to expand.

Based on application, asthma accounted for the second largest share of the industry. The industry is expected to benefit from future growth opportunities during this period due to the evolving O ₂treatment options such as O 2 treatment in emergency care and O 2 non-invasive ventilation for asthma treatment.

The future growth of the sleep apnea market is expected to be rapid due to the increased use of nocturnal oxygen therapy to treat obstructive sleeping apnea. This segment will be in high demand due to the increasing prevalence of the disorder and supplemental O administration, which can be used with CPAP devices for better patient outcomes.

Due to the rising incidence of respiratory distress syndrome in premature babies, Respiratory Distress Syndrome segment will show a moderate growth rate over the next period. It is expected that RDS will be treated with the most effective options, which will provide the segment with significant growth opportunities.

End-use Insights

The hospital & clinics sector is expected to expand at a steady pace over the forecast period. To improve the quality of care, hospitals are using technologically advanced medical equipment. The steady growth of the hospital segment can be attributed to the increasing use O ₂ therapy and other supplies in hospitals.

Hospitals offer a variety of facilities and controlled environments, which encourages patients with severe disabilities to choose them. This increases the market for this segment. These factors will contribute to steady market growth.

In 2015, home healthcare accounted for a significant share of the revenue segment. This segment is growing due to a rising population with low mobility and favorable reimbursement policies. Over the forecast period, the demand for these products will rise due to the increasing use of Long Term Oxygen Therapy equipment (LTOT).

The forecast period will see a significant increase in the availability of large-scale home O ₂therapy equipment. These factors will provide industry with growth potential.

Regional Insights

North America was the dominant market and was valued at USD 2,844 millions in 2015. Due to its high R&D investments, trials and O ₂therapy investment, North America held the largest share in the global O ₂therapy market. The British Medical Research Council and North American Nocturnal Oxygen Therapy collaborated to conduct research on the effectiveness of O ₂ long-term therapy.

The market is also being driven by the growing popularity of Topical Wound Oxygen therapy, and hyperbaric oxygen therapy (TWO), in this region. It is also prone to contracting respiratory disorders due to the high rate of urbanization and occupational hazards in this region. This market will grow over the forecast period.

Asia Pacific is expected to experience rapid growth over the forecast period. This market is driven by high R&D investments by global players and increasing commercialization O ₂ therapy devices developed by these players.

The business will benefit from the creation of new systems, as well as the replacement and upgrading of existing infrastructure. This is expected to provide lucrative growth opportunities. This region is seeing a steady increase in O ₂therapy due to the constant technological innovation and the expansion of distribution networks by global players.

Market Share Insights & Key Companies

This industry is growing due to the increasing demand for better comfort, controlled flow rate as needed by the patient and enhanced patient response. O ₂therapy is highly competitive. A small number of players have a significant share of the overall revenue share.

GE Healthcare, Invacare Corporation, CareFusion Corporation, Smiths Medical, HERSILL S.L., Fisher & Paykel Healthcare Limited, Philips Respironics Inc., DeVillbiss Healthcare, Philips Respironics Inc., Philips Respironics Inc., DeVillbiss Healthcare, Tecno-Gaz Industries, Allied Healthcare Products, Inc., Teleflex Incorporated, Chart Industries, MAQUET Medical Systems are key players in this sector

For better market penetration and competition, companies are using strategies like collaborations, mergers and acquisitions, product launches, and technological advances. Inogen One G4 portable oxygen concentrator was launched in May 2016. This allows Inogen to expand its product line and will likely increase market share during the forecast period.

The increasing competition in the industry can be attributed to the increased number of players, frequent product approvals and efficient distribution agreements. The industry will experience high levels of competitive rivalry over the forecast period.

Market Report Scope on Oxygen Therapy

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional, and country levels. It also analyzes the industry trends for each sub-segment from 2014 to 2024. Grand View Research has divided the global oxygen therapy market report by product, application, end-use, and region.

• Product Outlook (Revenue USD Million, 2014-2024)

  • 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

    • Other

• App Outlook (Revenue USD Million, 2014-2024)

  • Chronic Obstructive Pulmonary Disorder

  • Asthma

  • Obstructive sleep apnea

  • Respiratory distress syndrome

  • Cystic Fibrosis

  • Pneumonia

  • Other

• End-Use Outlook (Revenue USD Million, 2014-2024)

  • Home Healthcare

  • Hospitals

• Regional Outlook (Revenue USD Million, 2014-2024)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa

    • South Africa

These are the most frequently asked questions about this report

b. Global oxygen therapy market was valued at USD 10.7 Billion in 2019, and is projected to grow to USD 11.9 Billion by 2020.

b. Global oxygen therapy market will grow at a compound annual rate of 11.7% between 2019 and 2026, reaching USD 23.2 billion in 2026.

b. With a 28.9% share in 2019, North America was the dominant market for oxygen therapy. This can be attributed to the high R&D investments in oxygen therapy and the trials.

b. CareFusion Corporation, GE Healthcare, Tecno-Gaz Industries, Hersill, Philips Respironics, Inc., DeVilbiss Healthcare, MAQUET Medical Systems, Smiths Medical, Allied Healthcare Products, Inc., Fisher & Paykel Healthcare Limited, Teleflex Incorporated are some of the key players in the oxygen therapy market.

b. Market growth is being driven by rising incidences of chronic respiratory disease and increasing demand for home healthcare.

Up Market Research published a new report titled “Oxygen Therapy Market research report which is segmented by Product (Oxygen Source Equipment, Oxygen Delivery Devices, Dynamic, Static), By Players/Companies Tecno-Gaz Industries, Smiths Medical, Allied Healthcare Products, Teleflex Incorporated, CareFusion Corporation, DeVilbiss Healthcare, MAQUET Medical Systems, Fisher & Paykel Healthcare Limited, Hersill, GE Healthcare, Philips Respironics, Inc, Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Oxygen Therapy Market Report Segments:

The market is segmented by Product (Oxygen Source Equipment, Oxygen Delivery Devices, Dynamic, Static).

Oxygen Therapy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Oxygen Therapy Market

Overview of the regional outlook of the Oxygen Therapy Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Oxygen Therapy Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Oxygen Therapy Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Oxygen Source Equipment

                2. Oxygen Delivery Devices

                3. Dynamic

                4. Static

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Oxygen Therapy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Oxygen Therapy Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.