Oxygen Therapy Equipment Market Size, Share, Growth Analysis, By Product(Oxygen Source Equipment, Oxygen Delivery Devices), By End User(Hospitals, Home Care, Ambulatory Surgical Centers, Physician Offices), By Application(COPD, Asthma, Cystic Fibrosis, Pneumonia), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35B2195 | Region: Global | Published Date: April, 2024
Pages: 218 |Tables: 93 |Figures: 73

Oxygen Therapy Equipment Market Insights

Global Oxygen Therapy Equipment Market size was valued at USD 3.6 billion in 2022 and is poised to grow from USD 3.89 billion in 2023 to USD 7.26 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).

Oxygen therapy equipment refers to the devices used to supply and manage oxygen to humans in healthcare and medical settings. Increasing incidence of respiratory disorders and growing popularity of oxygen therapy for treatment of various diseases are key factors driving the demand for oxygen therapy equipment. Advancements in medical device technology and growing investments in medical R&D are also estimated to create new opportunities for oxygen therapy equipment suppliers going forward. However, high costs of oxygen therapy equipment and lack of favorable reimbursement policies are forecasted to hamper oxygen therapy equipment market development in the future. North America is slated to account for a major chunk of the global oxygen therapy equipment demand outlook owing to the presence of a developed healthcare infrastructure in countries such as the United States and Canada. Surging popularity of home healthcare is slated to boost the demand for home-based oxygen therapy equipment in the long run. Use of non-invasive ventilation techniques is also a key area that oxygen therapy equipment manufacturers can invest in and focus on going forward.

Market Snapshot - 2024-2031

Global Market Size

USD 3.6 billion

Largest Segment

Oxygen Source Equipment

Fastest Growth

Oxygen Delivery Devices

Growth Rate

8.1% CAGR

Global Oxygen Therapy Equipment Market ($ Bn)
Country Share for North America Region (%)

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Oxygen Therapy Equipment Market Segmental Analysis

The global oxygen therapy equipment market is segmented based on product, application, end user, and region. In terms of product, the market is segmented into oxygen source equipment and oxygen delivery devices. In terms of end user, the market is segmented into hospitals, home care, ambulatory surgical centers, physician offices, and others. On the basis of application, the market is bifurcated into COPD, asthma, cystic fibrosis, pneumonia, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.

Analysis by Product

Oxygen source equipment accounts for a dominant share of the global oxygen therapy equipment marketplace. High use of oxygen concentrators around the world is a key factor contributing to the high market share of this segment. Increasing number of people opting for O2 therapies is also a key factor helping oxygen source equipment to hold a dominant stance in the global oxygen therapy equipment market at present.

Meanwhile, the demand for oxygen delivery devices is slated to increase at a robust pace across the forecast period and beyond. Growing need for emergency services and high requirement of oxygen supplementation in emergency care are creating attractive growth opportunities for oxygen therapy equipment providers in this segment.

Analysis by End User

Hospitals are projected to emerge as the dominant end users of oxygen therapy equipment across the forecast period. Use of advanced oxygen equipment and the growing number of people requiring oxygen support in hospitals allows this segment to hold prominence over other end users. Rising rate of hospitalization of patients is also slated to favor growth of this segment.

Sales of oxygen therapy equipment in ambulatory surgical centers are slated to rise at a robust CAGR over the coming years. Growing investments in healthcare infrastructure development and surging focus on improving emergency healthcare assistance around the world are factors that could benefit growth of this segment.

Global Oxygen Therapy Equipment Market By Product, 2022 (%)

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Oxygen Therapy Equipment Market Regional Insights

Surging awareness regarding benefits of oxygen therapy is slated to be the key factor allowing North America to account for a dominant share of the global oxygen therapy equipment market. High healthcare expenditure and the presence of favorable reimbursement policies for oxygen therapies in this region are also slated to benefit sales of oxygen therapy equipment going forward. The United States and Canada are slated to be the top markets for oxygen therapy equipment companies looking to make a mark in the North American region over the coming years. High investments in medical R&D and the presence of key oxygen therapy equipment manufacturers also contribute to the dominant market share.

Growing focus on improving respiratory care services in healthcare institutions and supportive government initiatives to boost healthcare service adoption are key factors that allow Asia Pacific to become the fastest-expanding regional market in the world. Rising geriatric population and increasing awareness regarding benefits of oxygen therapy are other factors that could bolster sales of oxygen therapy equipment in countries such as China, India, and Japan across the forecast period and beyond.

Global Oxygen Therapy Equipment Market By Region, 2024-2031
  • Largest
  • Fastest

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Oxygen Therapy Equipment Market Dynamics

Drivers

Advancements in Oxygen Therapy Device Development

  • Investments in medical device technology R&D are rapidly increasing around the world and fostering innovation. These continual investments in R&D are creating new opportunities for oxygen therapy equipment companies.

High Incidence of Respiratory Disorders

  • People suffering from respiratory diseases have increased rapidly in recent years and this can directly be linked to increased levels of pollution around the world. Oxygen therapy equipment plays a crucial role in the treatment of these disorders and hence it drives market growth as well.

Restraints

High Costs

  • Oxygen therapy equipment is quite expensive to procure and use since it utilizes advanced technologies. These high costs are a barrier to oxygen therapy equipment adoption in hospitals with limited budget and therefore could slow down market development in the future.

Reimbursement Issues

  • Therapies or medical procedures involving the use of oxygen therapy equipment don’t have the best reimbursement or medical insurance coverage and this means patient’s have to pay the price out of their own pockets. This limited reimbursement could hamper oxygen therapy equipment market growth in the long run.

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Oxygen Therapy Equipment Market Competitive Landscape

Oxygen therapy equipment market players focus on increasing their reimbursement coverage by partnering and collaborating with medical insurance providers. Oxygen therapy equipment companies also leverage collaborations, mergers, and acquisitions to enhance their global market presence and share. Oxygen therapy equipment providers try to make their products as affordable as possible to penetrate the developing and underdeveloped economies.

Top Player’s Company Profiles

  • Philips Healthcare
  • Smiths Medical
  • Heinen + Löwenstein GmbH & Co. KG
  • Teleflex Inc.
  • GE Healthcare
  • Messer Medical Austria GmbH
  • Invacare Corporation
  • Linde Healthcare
  • Essex Industries Inc.
  • Chart Industries Inc.
  • Becton, Dickinson and Company
  • Dragerwerk AG & Co. KGaA
  • Fisher & Paykel Healthcare Ltd.
  • Inogen Inc.
  • HERSILL S.L.
  • Taiyo Nippon Sanso Corporation
  • Weinmann Emergency Medical Technology GmbH + Co. KG

Recent Developments

  • In July 2022, OMRON, a leading name in the healthcare equipment business, announced the launch of a new oxygen concentrator device. The product is completely portable and capable of providing 5L oxygen per minute.
  • In April 2022, CAIRE, a renowned supplier of oxygen therapy equipment based in the United States, celebrated the 20th anniversary of the launch of its first portable oxygen concentrator.
  • In July 2023, Emerson, a renowned technology company, announced the launch of a new manifold solution to optimize respiratory therapy device performance and development.

Oxygen Therapy Equipment Key Market Trends

  • Use of Non-invasive Ventilation: Oxygen therapy equipment manufacturers can focus on utilizing non-invasive ventilation techniques as preference for minimally invasive procedures increases among patients around the world. Companies should invest heavily in R&D to develop products that can supply oxygen without invading the body of the patient.

Oxygen Therapy Equipment Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per Skyquest analysis, rapid surge in respiratory disorders and growing advancements in medical device technology are projected to bolster the demand for oxygen therapy equipment over the coming years. Oxygen therapy equipment companies can focus on non-invasive ventilation and home care to create new business opportunities for themselves in the long run. However, high costs of oxygen therapy equipment is projected to be a key restraint for market growth across the forecast period and beyond. North America is estimated to hold sway over global oxygen therapy equipment sales which can be attributed to high healthcare expenditure and high awareness regarding benefits of oxygen therapy.

Report Metric Details
Market size value in 2022 USD 3.6 billion
Market size value in 2031 USD 7.26 billion
Growth Rate 8.1%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Oxygen Source Equipment, Oxygen Delivery Devices
  • End User
    • Hospitals, Home Care, Ambulatory Surgical Centers, Physician Offices, Others
  • Application
    • COPD, Asthma, Cystic Fibrosis, Pneumonia, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Philips Healthcare
  • Smiths Medical
  • Heinen + Löwenstein GmbH & Co. KG
  • Teleflex Inc.
  • GE Healthcare
  • Messer Medical Austria GmbH
  • Invacare Corporation
  • Linde Healthcare
  • Essex Industries Inc.
  • Chart Industries Inc.
  • Becton, Dickinson and Company
  • Dragerwerk AG & Co. KGaA
  • Fisher & Paykel Healthcare Ltd.
  • Inogen Inc.
  • HERSILL S.L.
  • Taiyo Nippon Sanso Corporation
  • Weinmann Emergency Medical Technology GmbH + Co. KG
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Oxygen Therapy Equipment Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Oxygen Therapy Equipment Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Oxygen Therapy Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Oxygen Therapy Equipment Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Oxygen Therapy Equipment Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Oxygen Therapy Equipment Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Oxygen Therapy Equipment Market size was valued at USD 3.6 billion in 2022 and is poised to grow from USD 3.89 billion in 2023 to USD 7.26 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).

Oxygen therapy equipment market players focus on increasing their reimbursement coverage by partnering and collaborating with medical insurance providers. Oxygen therapy equipment companies also leverage collaborations, mergers, and acquisitions to enhance their market presence and share. Oxygen therapy equipment providers try to make their products as affordable as possible to penetrate the developing and underdeveloped economies. 'Philips Healthcare', 'Smiths Medical', 'Heinen + Löwenstein GmbH & Co. KG', 'Teleflex Inc.', 'GE Healthcare', 'Messer Medical Austria GmbH', 'Invacare Corporation', 'Linde Healthcare', 'Essex Industries Inc.', 'Chart Industries Inc.', 'Becton, Dickinson and Company', 'Dragerwerk AG & Co. KGaA', 'Fisher & Paykel Healthcare Ltd.', 'Inogen Inc.', 'HERSILL S.L.', 'Taiyo Nippon Sanso Corporation', 'Weinmann Emergency Medical Technology GmbH + Co. KG'

Investments in medical device technology R&D are rapidly increasing around the world and fostering innovation. These continual investments in R&D are creating new opportunities for oxygen therapy equipment companies.

Use of Non-invasive Ventilation: Oxygen therapy equipment manufacturers can focus on utilizing non-invasive ventilation techniques as preference for minimally invasive procedures increases among patients around the world. Companies should invest heavily in R&D to develop products that can supply oxygen without invading the body of the patient.

Surging awareness regarding benefits of oxygen therapy is slated to be the key factor allowing North America to account for a dominant share of the oxygen therapy equipment market. High healthcare expenditure and the presence of favorable reimbursement policies for oxygen therapies in this region are also slated to benefit sales of oxygen therapy equipment going forward. The United States and Canada are slated to be the top markets for oxygen therapy equipment companies looking to make a mark in the North American region over the coming years. High investments in medical R&D and the presence of key oxygen therapy equipment manufacturers also contribute to the dominant market share.

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