Oxygen Therapy Market Expected To Reach USD 61.08 Billion By 2032, Growing At A CAGR Of 6.79% – SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Oxygen Therapy Market expansion is driven by the rising incidence of respiratory diseases alongside ongoing technological innovations.

Pune, March 10, 2025 (GLOBE NEWSWIRE) --“According to SNS Insider, the global Oxygen Therapy Market size, valued at USD 33.82 billion in 2023, is projected to reach USD 61.08 billion by 2032, with a compound annual growth rate (CAGR) of 6.79% from 2024 to 2032.”

The Oxygen Therapy Market is expected to experience significant growth, driven by the increasing prevalence of respiratory diseases, advancements in oxygen delivery technologies, and the growing demand for home healthcare solutions.

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Market analysis

The increasing prevalence of chronic respiratory diseases, including chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea is a major factor propelling the growth of the market. The World Health Organization (WHO) estimates that more than 300 million people worldwide have asthma and that COPD is the third leading cause of death in the world. Oxygen therapy is a vital treatment for these conditions that enhances patient outcomes and lowers hospital readmissions. Oxygen delivery systems, including portable oxygen concentrators and ultralight cylinders, are generating recent advancements to augment patient convenience and mobility. Funding bodies and support agencies are working to address these inequalities; national governments and health organizations are prioritizing improvements in access to oxygen therapy; and priority must be given to local increases in the therapeutic medical oxygen production, particularly within low- and middle-income countries, where oxygen shortages still represent a major obstacle to optimal patient care. For example, the World Health Organization (WHO) and the Bill & Melinda Gates Foundation have started their own initiative to improve oxygen supply infrastructure in developing areas.

Major Players Analysis Listed in Oxygen Therapy Market Report are:

• ResMed
• Inogen Inc.
• Fisher & Paykel Healthcare Limited
• HERSILL S.L.
• Tecno-Gaz Industries
• Allied Healthcare Products Inc.
• Teleflex Incorporated
• Chart Industries
• Rhythm Healthcare
• OMRON Healthcare

Oxygen Therapy Market Report Scope

Report Attributes	Details
Market Size in 2023	US$ 33.82 billion
Market Size by 2032	US$ 61.08 billion
CAGR	CAGR of 6.79% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	Rising Respiratory Disorders and Technological Advancements.

Market Segmentation

By Product Type

In 2023, the oxygen source equipment segment held the largest market share, contributing 62.44% of the overall revenue. It comprises oxygen concentrators, liquid oxygen devices, and oxygen cylinders. Oxygen concentrators are particularly showing burgeoning popularity, owing to their low cost and portable solutions, as they also ensure a continuous supply of oxygen. Preferred are Liquid oxygen devices, which can store a lot, ensuring long-term functioning. The growing adoption of portable oxygen concentrators is also driving segment growth, as they offer greater convenience for patients requiring oxygen therapy on the go.

By Application

In 2023, the chronic obstructive pulmonary disease (COPD) segment accounted for the largest market share. COPD is currently among the leading causes of disease burden and mortality globally, with an estimated 384 million cases. In patients with COPD, oxygen therapy is considered a standard to improve symptoms, exercise tolerance, and quality of life. It also has a variety of applications for asthma, sleep apnea, cystic fibrosis, and respiratory distress syndrome (RDS). High prevalence of sleep apnea as the prevalence of sleep apnea is rising with increasing obesity and aging population also displaying high demand during the forecast period, thereby driving the growth of the market.

By End-Use

In 2023, the home healthcare segment held the highest market share 68.65%. This is driven by the trend towards affordable, patient-centred treatment, particularly for the elderly and those with chronic conditions. Home oxygen therapy saves money by shortening hospital stays and making patients more comfortable. Moreover, the increasing availability of portable and home-based medical devices, coupled with the expansion of home healthcare services to cater to patients with chronic diseases, are some of the key trends that have a positive impact on segment growth. In the case of end-users, hospitals and clinics still play a significant role, especially for care of acute respiratory conditions and post-surgical recovery.

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Oxygen Therapy Market Segmentation

By Product

• Oxygen Source Equipment
  • Oxygen Cylinders
  • Oxygen Concentrators
  • Liquid Oxygen Devices
  • PAP Devices
    • CPAP
    • APAP
    • Bi-PAP
• 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

• Home healthcare
• Non-Home Healthcare

Regional Analysis

North America led the global oxygen therapy market, accounting for 35.21% of global revenue, in 2023. The growth of the market in this region is due to the increasing prevalence of respiratory diseases, advanced healthcare infrastructure, and strong reimbursement policies. According to the Centers for Disease Control and Prevention (CDC), over 16 million Americans are living with COPD, and the condition is a leading cause of hospitalization. The U.S. government has also rolled out initiatives to increase access to oxygen therapy, especially in rural areas. Some of the important players in the regions include Philips Respironics and Invacare Corporation, which are stimulating innovations in the market. Europe region helds the significant share of oxygen therapy due to good healthcare systems and increased government spending on respiratory care. The increasing demand for oxygen therapy has been fueled by the European Respiratory Society (ERS), reiterating the need for early diagnosis and treatment of respiratory diseases. The market is led by regional giants, including Germany, France, and the UK, which emphasise home care and portable oxygen devices. There is also an increasing use of telemedicine and remote monitoring solutions for respiratory patients in this area.

The Asia-Pacific region is projected to exhibit the highest growth in the forecast period, owing to increasing healthcare investments, growing awareness about respiratory diseases, and enhanced access to medical oxygen. Programs are being rolled out at the government level to combat the heavy burden of respiratory diseases in countries including China, India, and Japan. As an example, the National Health Mission (NHM) in India has initiated programs to optimize the Oxygen supply infrastructure in rural areas. Another key factor driving the market's growth is the region's large population base and the rising geriatric population.

Recent development

• Philips Respironics introduced a new portable oxygen concentrator with battery technology capabilities and increased oxygen delivery efficiency in 2023.
• In January 2024, Inogen, Inc. received FDA approval for its new lightweight oxygen concentrator designed for long-term home use.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Incidence and Prevalence (2023)

5.2 Prescription Trends, (2023), by Region

5.3 Device Volume, by Region (2020-2032)

5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023

6. Competitive Landscape

7. Oxygen Therapy Market by Product

8. Oxygen Therapy Market by Application

9. Oxygen Therapy Market by End-Use

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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