Oxygen Therapy Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

The global Oxygen Therapy market size is expected to be worth around US$ 28.2 billion by 2030, according to a new report by Vision Research Reports.

The global Oxygen Therapy market size was valued at US$ 17.09 billion in 2020 and is anticipated to grow at a CAGR of 21.1% during forecast period 2021 to 2030.

Growth Factors

The increasing prevalence of major respiratory diseases, such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and obstructive sleep apnea, is a high impact rendering driver of oxygen therapy market.

As per the estimates of the WHO, a consequential global rise in the prevalence of asthma and other respiratory disorders is expected to heightened clinical urgency to treat the aforementioned disorders and is expected to boost the demand for oxygen therapy as the first-line treatment and as a supplement in various applications. 

Moreover, technological advancements are anticipated to provide growth platforms in a wide range of new applications such as cancer and diabetes; for instance, incorporation of flow sensors in delivery devices to conserve and regulate the flow enabling greater patient comfort and outcomes. 

Furthermore, the increasing focus on home healthcare solutions coupled with the development of portable delivery devices has a major impact on the oxygen therapy market. These aforementioned factors are expected to serve as key contributing factors towards the growth of the oxygen therapy market over the forecast period.

Report Highlights

As of 2015, oxygen source equipment held the substantial share of the product segment and accounted for 66.1% of the overall market owing to its high availability and utilization in the form of O₂ concentrators, compressed gas systems, cylinders, and liquid oxygen. Moreover, these devices serve as the primary source and initiation step for O₂ therapy, acting as a key contributing factor towards the overall growth of the industry.

Oxygen concentrators in the oxygen source equipment segment are anticipated to grow at a lucrative rate. The transportable concentrators are expected to present significant growth potential owing to their applicability in various medical emergencies, usage in ambulances, rails, and aircraft; therefore, contributing towards the potential demand for this segment.

The oxygen delivery devices segment is anticipated to exhibit a lucrative growth owing to the availability of a wide range of delivery devices pertaining to different patients’ inspiratory and physiological needs. Additionally, the potential advantages associated such as constant O₂ flow, elimination of complicated masks, variable pressure demand, and flow dilution are expected to facilitate demand over the coming years.

Oxygen masks segment is expected to be growing at a steady growth rate as a consequence of these masks being an indispensable part of the O₂ delivery system, resulting in increased consumption, thereby serving as a key contributing factor towards market growth over the future period. Additionally, these devices facilitate accurate O₂ concentration delivery, sustained flow & pressure, and patient comfort, which are anticipated to increase the segment demand.

Chronic Obstructive Pulmonary Disorder (COPD) segment dominated the market with a significant share of 38.13% owing to the increasing incidence of COPD. As per the estimates reported by the WHO, there are approximately 65 million people suffering from COPD and is the fifth leading cause of mortality. The rising prevalence of COPD is driving the clinical urgency for the treatment of COPD thereby contributing to the expansion of the business.

Asthma held the second-largest share of the industry based on application. The evolving O₂ treatment modalities such as high flow nasal cannula delivery of O₂ in the emergency care and non-invasive ventilation for the treatment of asthma are expected to present the industry with future growth opportunities in this segment during the study period.

Sleep apnea segment is anticipated to witness exponential growth in the future owing to the utilization of nocturnal oxygen therapy as an alternative for the treatment of obstructive sleep apnea. The growing prevalence of this disorder and supplemental O₂ administration in conjunction with CPAP devices for improved patient outcomes is responsible for driving the demand for this segment over the next few years.

Respiratory Distress Syndrome segment is anticipated to exhibit a moderate growth rate during the future period owing to rising prevalence of respiratory distress syndrome in premature birth. The dearth of effective treatment alternatives is anticipated to drive the clinical urgency for the treatment of RDS, thereby presenting the segment with key growth opportunities in the near future.

Hospitals & clinics segment is expected to grow at a steady rate over the forecast period. Technologically advanced medical equipment is being used extensively in hospitals to improve the point of care. Hospital segment is anticipated to grow at a steady rate owing to the use of O₂ therapy equipment and other associated supplies in hospitals.

Moreover, hospital settings present a wide range of facilities coupled with controlled environments that drive the preference of patients with severe disorders, thereby boosting the growth of this segment. The aforementioned factors are expected to contribute to steady market growth.

Home healthcare held a substantial share of the end-use segment in terms of revenue in 2015. Growing population base having a low mobility profile and favorable reimbursement policies are contributing to the growth of this segment. The rising incorporation of Long Term Oxygen Therapy (LTOT) equipment in home settings are anticipated to boost the demand for these products over the forecast period.

Large-scale availability of a wide range of home O₂ therapy equipment is expected to widen the base for growth during the forecast period. All these factors are anticipated to provide the industry with potential growth opportunities.

North America dominated the industry and was valued at USD 2,844 million in 2015. North America accounted for the largest share of the global O₂ therapy market owing to high R&D investments and trials pertaining to O₂ therapy. For instance, the British Medical Research Council in collaboration with North American Nocturnal Oxygen Therapy conducted research to study the efficacy of long-term O₂ therapy.

Moreover, the increasing popularity of hyperbaric oxygen therapy and Topical Wound Oxygen therapy (TWO) over this region is contributing towards the market demand. Additionally, as a result of urbanization and occupational hazards over this region, it poses a high risk of contraction of respiratory disorders, which is anticipated to augment the market during the forecast period.

Asia Pacific is anticipated to witness exponential growth during the forecast period. The market is driven by high R&D investment by global players as well as increasing commercialization of O₂ therapy equipment developed by these players.

Moreover, the urgent need for the development of new systems and replacement & upgrading of medical infrastructure is anticipated to address the business with lucrative growth opportunities over the forecast period. The perpetual technological innovations coupled with the rising collaboration of global players and their expansion of distribution networks are propelling the growth of O₂ therapy in this region.

Key Players

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

Market Segmentation

• Product Outlook 

  • 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

• Application Outlook

  • Chronic Obstructive Pulmonary Disease

  • Asthma

  • Obstructive Sleep Apnea

  • Respiratory Distress Syndrome

  • Cystic Fibrosis

  • Pneumonia

  • Others

• End-Use Outlook 

  • Home Healthcare

  • Hospitals

• Regional Outlook 

  • 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

The Oxygen Therapy market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Oxygen Therapy market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Oxygen Therapy market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Oxygen Therapy market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Oxygen Therapy market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Oxygen Therapy capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Oxygen Therapy by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Oxygen Therapy market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Oxygen Therapy market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Oxygen Therapy market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Oxygen Therapy industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Oxygen Therapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Oxygen Therapy market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Oxygen Therapy market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Oxygen Therapy market. These factors have benefited the growth of the global market for Oxygen Therapy. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Oxygen Therapy. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Oxygen Therapy are as follows:

• Historic Year: 2017-2020
• Base Year: 2021
• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.