According to SPER Market Research, the Oxygen Therapy Market Outlook is anticipated to increase as a result of several factors, such as the rising prevalence of respiratory illnesses, the rapidly aging population, the high prevalence of tobacco use, the demand for at-home oxygen therapy, and technological improvements.
Market growth is anticipated to be somewhat constrained by the availability of affordable substitutes made nearby, onerous regulatory requirements that delay product approvals, and Medicare payment rate reductions for home oxygen therapy in the United States.
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Market Overview (2022-2030)
- Forecast CAGR (2022-2030): 5.8%
- Forecast Market Size (2030): 55.59 Billion
The global increase in respiratory diseases such as pneumonia, cystic fibrosis, asthma, dysplasia, and sleep apnea is one of the primary factors supporting a positive outlook for market growth. Benefits of oxygen therapy include improved oxygen delivery from alveoli to blood, cell metabolism, and tissue oxygenation.
Impact of COVID-19 on the Global Oxygen Therapy Market:
Lockdown regulations and issues with supply chain management contributed to the COVID-19 pandemic’s substantial effects on the medical equipment sector. However, because oxygen therapy was the principal course of treatment for critically sick patients with coronavirus infections, oxygen therapy equipment remained in high demand throughout the crisis. The demand for oxygen concentrators surged as a result of a severe global ventilator shortage. Biomedical engineers and scientists have created temporary systems that use already-available technology, such as oxygen concentrators, PAP machines, anesthetic machines, and manual resuscitators, to imitate the essential elements of ventilators in order to get past this shortage.
Global Oxygen Therapy Market Insights, Size, and Growth Forecast To 2030
Industry Definition and Major Segments:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
Global Oxygen Therapy Market, By Product:
- Oxygen Source Equipment
- Oxygen Delivery Devices
- Other Oxygen Delivery Devices
Global Oxygen Therapy Market, By Portability:
- Stationary Devices
- Portable Devices
Global Oxygen Therapy Market, By Application:
- Chronic Obstructive Pulmonary Disease (COPD)
- Cystic Fibrosis
- Respiratory Distress Syndrome
- Other Diseases
Global Oxygen Therapy Market, By End Use:
- Home Healthcare
- Non-Home Healthcare
- Ambulatory Surgical Centers
- Physician Offices
The Market, By Region:
- North America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Key Market Players:
The Global Oxygen Therapy Market study provides market data by the competitive landscape, revenue analysis, market segments, and detailed analysis of key market players such as; Allied Healthcare Products, Inc., Andreas Fahl Medizintechnik-Vertriebs GmbH, Becton, Dickinson and Company, CAIRE, Chart Industries, Inc., DeVilbiss Healthcare Drägerwerk AG & Co. KGaA, Essex Industries, Inc., Fisher & Paykel Healthcare Corporation Limited, GCE Holding AB, GE Healthcare, Heinen + Löwenstein GmbH & Co. KG, HERSILL S.L., HUM – Gesellschaft für Homecare und Medizintechnik mbH, Inogen, Inc., Invacare Corporation, IUC Medical, Linde Healthcare, Medicap homecare GmbH, Medicop D.O.O., Messer Medical Austria GmbH, Philips Healthcare, Philips Respironics, Inc., ResMedDrägerwerk AG & Co. KGaALinde, Respan Products Inc., Smiths Medical, Taiyo Nippon Sanso Corporation, Tecno-Gaz IndustriesTeleflex Incorporated, Weinmann Emergency Medical Technology GmbH + Co. KG.
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