Global Oxygen Therapy Equipment Market - Industry Dynamics, Size, And Opportunity Forecast To 2030

The Oxygen Therapy Equipment market is experiencing robust expansion, with market size projected to increase from 2024 to 2030, demonstrating a consistent year-over-year growth rate of 7.4% Oxygen Therapy Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report, by Types (Oxygen Source Equipment {Oxygen Concentrators, Liquid Oxygen Devices, Oxygen Cylinders}, Oxygen Delivery Devices {Oxygen Masks, Nasal Cannulas, Venturi Masks, Non-rebreather Masks, Bag-valve Masks, Others}), by applications (COPD, Asthma, Cystic Fibrosis, Respiratory Distress Syndrome, Pneumonia) ,by End User (Hospital, Ambulatory Surgical Centers, Home Care), by Portability (Stationary Devices, Portable Devices) And regions (North America(United States, Canada, Mexico), South America(Brazil, Argentina, Chile, Rest of South America), Europe(Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific(China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA(Middle East, Africa)) : Industry Forecast and Opportunity Analysis for 2024 - 2030

The worldwide market for oxygen therapy devices includes all activities related to designing, producing, and selling various devices for the purpose of oxygen delivery to patients who are in need of oxygen therapy. These devices include an oxygen concentrator, oxygen cylinder, nasal cannula, oxygen mask, and humidifier. And oxygen therapy is prescribed for patients having airway diseases—most commonly COPD (chronic obstructive pulmonary disease), asthma, and pneumonia. Moreover, the rise in the prevalence of respiratory illness and higher home healthcare demand is expected to raise the market for oxygen therapy devices, also supported by technological and demographic change and increasing emphasis on care and treatment in home settings.

Oxygen Therapy Equipment Report Highlights

Report Metrics	Details
Forecast period	2019-2030
Base Year Of Estimation	2023
Growth Rate	CAGR of 7.4%
By Product Type	Oxygen Source Equipment {Oxygen Concentrators, Liquid Oxygen Devices, Oxygen Cylinders}, Oxygen Delivery Devices {Oxygen Masks, Nasal Cannulas, Venturi Masks, Non-rebreather Masks, Bag-valve Masks, Others}
Key Market Players	Becton, Dickinson, and Company (United States) Chart Industries, Inc. (United States) Drägerwerk AG & Co. KGaA (Germany) Fisher & Paykel Healthcare Corporation Limited (New Zealand) Inogen, Inc. (United States) Invacare Corporation (United States) Linde Healthcare (Germany) Philips Healthcare (Netherlands) Smiths Medical (United States) Taiyo Nippon Sanso Corporation (Japan) Teleflex Incorporated (United States)
By Region	North America(United States, Canada, Mexico) South America(Brazil, Argentina, Chile, Rest of South America) Europe(Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe) Asia Pacific(China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific) MEA(Middle East, Africa)

Oxygen Therapy Equipment Market Trends

The global oxygen therapy equipment market is growing at a rapid rate due to the rising prevalence rates of various respiratory diseases like chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea. With the growing elderly population and the deteriorating air quality, there is significant demand for oxygen therapy solutions. On the other hand, technology has come up with ways of making more compact and effective devices for the supply of oxygen, like portable oxygen concentrators and oxygen therapy devices for the home. These remarkable inventions improve patient’s mobilisation as well as the entire user’s experience, hence encouraging more patients to use oxygen therapy. The market has also witnessed the growing inclination towards home healthcare and telehealth services. As the healthcare system provider’s change to a more patient-centred approach, the demand for oxygen therapy that can be done at home rather than seeking hospitalisation has increased. In addition, this is due to the growing demand for telemedicine, where patients can be monitored and even counselled from a distance, eliminating the need for regular visits to the hospital.

Oxygen Therapy Equipment Market Leading Players

The key players profiled in the report are Becton, Dickinson, and Company (United States), Chart Industries, Inc. (United States), Drägerwerk AG & Co. KGaA (Germany), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Inogen, Inc. (United States), Invacare Corporation (United States), Linde Healthcare (Germany), Philips Healthcare (Netherlands), Smiths Medical (United States), Taiyo Nippon Sanso Corporation (Japan), Teleflex Incorporated (United States)

Growth Accelerators

The rise in the occurrence of respiratory diseases is the main factor fuelling the worldwide market for oxygen therapy devices. In particular, chronic obstructive pulmonary disease (COPD), asthma, and pneumonia contribute to the need for effective solutions, such as oxygen therapy. When these indications become more frequent, it is evident that the need for the solutions will go higher in order to manage the condition and improve the lives of the patients. These pieces of equipment can be utilised in hospitals, home-care settings, and long-term care facilities, owing to the fact that older people are more likely to experience respiratory complications. Technology improvement like the invention of portable and less cumbersome oxygen delivery systems also improves compliance and comfort of the patient, thus boosting growth. Getting more of these solutions will also drive factors such as the increasing awareness and acceptance of home care services. More and more patients want to receive medical attention within the confines of their residences, and this has led to improved healthcare services where oxygen therapy services are now offered. With government backing and an overall appeal for home care, it has become easier for patients to obtain oxygen therapy equipment due to more favourable reimbursement policies in place.

Oxygen Therapy Equipment Market Segmentation analysis

The Global Oxygen Therapy Equipment is segmented by Type, Application, and Region.
By Type, the market is divided into Distributed Oxygen Source Equipment {Oxygen Concentrators, Liquid Oxygen Devices, Oxygen Cylinders}, Oxygen Delivery Devices {Oxygen Masks, Nasal Cannulas, Venturi Masks, Non-rebreather Masks, Bag-valve Masks, Others} . The Application segment categorizes the market based on its usage such as COPD, Asthma, Cystic Fibrosis, Respiratory Distress Syndrome, Pneumonia. Geographically, the market is assessed across key Regions like North America(United States, Canada, Mexico), South America(Brazil, Argentina, Chile, Rest of South America), Europe(Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific(China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA(Middle East, Africa) and others, each presenting distinct growth opportunities and challenges influenced by the regions.

Competitive Landscape

The global oxygen therapy equipment market’s competitive environment has many players, including large medical device enterprises, start-up companies, and companies that specialise in products related to respiratory care only. The market is also characterised by key players such as Philips Healthcare, ResMed, and Fisher & Paykel Healthcare, which possess a wide array of oxygen therapy products, ranging from oxygen concentrators and nebulisers to portable oxygen systems. These companies have a well-established research and development department that they use to create and integrate advanced technologies like smart oxygen therapy devices that help with patient adherence and supervision into their existing oxygen therapy devices, which gives them an added advantage over their competitors. Besides that, the market is exhibiting an increasing number of start-ups and regional players, which narrow down to some specific segments, for instance, homecare oxygen therapy and telehealth for respiratory patients. Often these companies seek to supply more affordable and reasonably designed devices for patients with chronic breathing disorders such as COPD and asthma. In order to compete effectively, players in the market are more often than not involved in strategic alliances, mergers, and acquisitions, as well as undertaking marketing activities in order to widen their distribution channels and enhance brand awareness in the dynamic health care market.

Challenges In Oxygen Therapy Equipment Market

The worldwide market for oxygen therapy equipment is confronted with numerous challenges, and one of them is the regulatory framework for the manufacture and marketing of medical devices, which is quite strict. There are challenging requirements that health regulators and other authorities put on manufacturers. This often results in the stalling of the product development process as well as the overall inflation of costs. Furthermore, masking oxygen therapy devices involves constant use and periodic breakdown maintenance, which are operational challenges for most healthcare providers, especially in developing countries. Another key challenge is the threat posed by complementary therapies as well as portable oxygen concentrators and home healthcare. With the changes in the market, it is expected that patients will seek out cheaper and more convenient options that do not require them to make hospital visits or receive treatment in their homes so often. These tensions are important for the oxygen therapy equipment consumers in a bid for vitality and growth for patients and health system reforms.

Risks & Prospects in Oxygen Therapy Equipment Market

The global oxygen therapy equipment market offers lucrative opportunities, fuelled by rising respiratory diseases and an increasing elderly population. With the rise in incidences of diseases such as chronic obstructive pulmonary disease (COPD), asthma, sleeping disorders such as sleep apnoea, and other related conditions, the demand for oxygen therapy solutions is on the rise. A need exists for the provision of portable or even home-based oxygen therapy, as most systems of healthcare delivery are adopting a more patient-centred approach, allowing treatment to be offered within the home environment. This is further driven by technology through the design of light and easy-to-use oxygen concentrators that are used by patients, therefore improving access and comfort. The global oxygen therapy equipment market growth is also attributed to the enhancement of consumer knowledge on the significance of oxygen therapy towards one’s health and well-being. The global oxygen therapy equipment market is expected to witness the increasing adoption of new concepts as healthcare providers and manufacturers join forces to meet the ever-changing needs of patients globally.

Key Target Audience

Healthcare providers such as hospitals and clinics as well as home healthcare agencies that seek reliable oxygen delivery systems for patients with respiratory problems are among the primary end users targeted by the global oxygen therapy equipment market. This group includes a wide assortment of medical experts, including doctors, nurses, respiratory therapists, and staff that provide oxygen therapy to patients suffering from ailments such as COPD, asthma, and pneumonia, among other airway obstructive diseases. Such providers invest in safe, effective, and equipment for oxygen therapy in order to optimise patient benefits’ and to provide adequate respiratory support.,, Furthermore, governments and health organisations are other vital stakeholders in the oxygen therapy equipment sector, as they help formulate policies and standards on the safety and effectiveness of these products. Thus, how to strategically address these different audiences becomes imperative for the manufacturers and suppliers within the oxygen therapy equipment market in order to expand and enhance innovations as well as satisfy the healthcare and patients’ demands at the same time.

Merger and acquisition

Mergers and acquisitions that took place recently in the global market for oxygen therapy equipment indicate that the industry is beginning to consolidate as firms forge alliances in a bid to increase their product range and compete effectively in the market. For example, it was reported that in December 2023, Fisher & Paykel Healthcare Limited Fund of New Zealand purchased SLE Limited, a manufacturer of medical equipment and devices used in the management of respiratory conditions and based in the United Kingdom, including oxygen therapy, among other devices. The purpose of this acquisition is to strengthen Fisher & Paykel’s core critical care business and also enable its wider reach in Europe. Such strategies help companies to minimise costs in terms of technology and distribution as well as taking into consideration the increasing demand for oxygen therapy due to more people suffering from respiratory disorders. Also, Philips Respironics announced a merger with Linde PLC, a global leader in industrial gases and medical oxygen, enhancing its potential to provide complete respiratory care management solutions. This arrangement allows Linde’s distribution and gas management capabilities to be incorporated with Philips’ range of advanced respiratory devices to increase the availability of oxygen therapy devices to the patients. In order for the operators in the market to sustain competition and be positioned in the growing demand for oxygen therapy, which is largely attributed to the boisterous global populations of elderly and sufferings of respiratory infections, such strategic partnerships are very critical.