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Oxygen Therapy Equipment Market

Oxygen Therapy Equipment Market

Oxygen Therapy Equipment Market Analysis By Product (Oxygen Source Equipment & Oxygen Delivery Devices) By Portability (Stationery & Portable) By Application, By End-User and By Region – Global Market Insights 2022 to 2027

Oxygen Therapy Equipment Market
FACT7678MR
  • Sep-2022
  • List of Tables : 80
  • List of Figures : 227
  • 170 Pages
  • Healthcare

Oxygen Therapy Equipment Market Outlook (2022-2027)

Expanding at a CAGR of 7.6%, the global oxygen therapy equipment market is projected to increase from a valuation of US$ 3.6 billion in 2022 to US$ 5.2 billion by the end of 2027.

Demand for oxygen source equipment is expected to rise at a CAGR of 8% through 2027. The market is anticipated to grow over the coming years with the introduction of technologically-advanced oxygen source equipment and delivery systems that enable effective patient care.

Report Attributes

Details

Oxygen Therapy Equipment Market Size (2022)

US$ 3.6 Billion

Projected Market Value (2027)

US$ 5.2 Billion

Global Market Growth Rate (2022-2027)

7.6% CAGR

Market Share of Oxygen Source Equipment

70%

Key Companies Profiled

  • Philips Healthcare
  • Smiths Medical
  • Teleflex Inc.
  • GE Healthcare
  • Invacare Corporation
  • Linde Healthcare
  • Chart Industries, Inc.
  • Dragerwerk AG & Co. KGaA
  • Fisher & Paykel Healthcare Ltd.
  • Inogen, Inc.
  • Taiyo Nippon Sanso Corporation

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Sales Analysis of Oxygen Therapy Equipment (2017-2021) Vs. Market Estimates (2022-2027)

“Rising Prevalence of Respiratory Disorders Driving Demand for Oxygen Therapy Equipment”

According to Fact.MR, a market research and competitive intelligence provider, sales of oxygen therapy equipment are projected to increase at a CAGR of 7.6% from 2022 to 2027.

Those who don't obtain enough oxygen in their bodies can receive treatment through oxygen therapy. Oxygen therapy is a medical intervention that makes use of oxygen to provide acute as well as chronic patient care.

An oxygen therapy machine is utilized to treat a variety of respiratory illnesses due to its supporting relief and supplementary elements. It is now an essential component of the proper care of several illnesses, including asthma, chronic obstructive pulmonary disease, and respiratory pain conditions. Increased strength, better breathing, and heart failure prevention are among the advantages of oxygen therapy.

  • The World Health Organization (WHO) estimates that COPD causes more than 3 million deaths annually.

A widely accepted trend in the market is the rising use of oxygen medical equipment in the management of conditions such as COPD, asthma, obstructive sleep apnea, and respiratory distress syndrome. Long-term oxygen therapy for people with chronic lung illness can help them live longer and with better quality of life, which in turn benefits the market.

Development of affordable, quick, and accurate medical oxygen systems as well as the growing desire for oxygen therapy among patients, doctors, and other healthcare professionals are the factors driving the market expansion. Additional factors, including expanding healthcare expenditure capacities and significant research and development activities, are expected to fuel market growth over the coming years.

Oxygen therapy equipment market forecast by Fact.MR

Which Factor is Majorly Augmenting Oxygen Therapy Equipment Market Growth?

“Continuous Innovation in Oxygen Therapy Devices”

The market for oxygen therapy equipment is being driven by factors such as rising urbanization, elevated levels of air pollution, rising per capita healthcare costs, and a large patient pool. Advancements in medical technology are expected to drive the growth of the worldwide oxygen therapy equipment market.

Increased use of telemonitoring and telemedicine is projected to present favorable opportunities for the expansion of the oxygen therapy equipment market over the coming years. The increasing attention that top industry players are paying to developing economies to boost the market for hyperbaric oxygen therapy devices.

It is projected that demand for oxygen therapy systems would rise as a result of recent medical advancements and process improvements. The market is projected to profit from these advances as the global healthcare industry has largely acknowledged and adopted them.

Growing adoption of portable oxygen concentrators in a variety of applications is driving the demand for oxygen therapy equipment. The growing popularity of portable technology among consumers and the clinical necessity of providing the older population with more mobility help are the factors driving market growth. Due to ongoing innovation, which produces more effective equipment and lower pricing, the business is expected to grow over the coming years.

An Adaptive Approach to Modern-day Research Needs

What Could Restrain Oxygen Therapy Equipment Sales?

“Availability of Affordable Substitutes & Stringent Regulations”

Obstacles impeding market expansion are the high cost of oxygen therapy equipment, its side effects, which include skin problems, and the stringent regulatory standards, which result in product approval delays.

Sales of oxygen therapy products are being restrained by the availability of reasonably priced alternatives and the lack of reimbursement policies.

How are Start-ups Sculpting Their Progress in the Oxygen Therapy Equipment Market?

“Emerging Market Players Investing in R&D for Development of Novel Solutions”

New companies are focusing on technological innovations in oxygen therapy devices. Emerging market participants are investing heavily in R&D as well as concentrating on the commercialization of O2 therapy equipment.

  • A start-up based in the U.S., Aires Medical, offers high-flow oxygen therapy equipment to enhance the quality of life for COPD patients. By decreasing their reliance on big, heavy equipment, the new portable device makes it easier for persons with chronic obstructive pulmonary disease (COPD) to leave their homes.

Which Region are Spearheading Oxygen Therapy Equipment Demand?

“Recent Advances in Portable Oxygen Concentrators in North America”

North America is anticipated to dominate the global market for oxygen therapy equipment due to significant R&D expenditures, O2 therapy studies, growing usage of high-flow oxygen devices, an increase in the number of product approvals, and a growing elderly population,

In addition, there is a high risk of respiratory illnesses in the region due to growing urbanization, which is predicted to spur growth during the projection period.

The market is expanding as a result of advances in portable oxygen concentrators, rising demand for portable oxygen therapy devices, an increase in the number of untreated sleep apnea patients, and rising demand for oxygen-filling systems.

Country-wise Insights

What’s Boosting the United States Oxygen Therapy Equipment Market?

“Higher Public Awareness Regarding Oxygen Therapy Advantages in the U.S.”

Market growth in the U.S is attributed to the superior healthcare infrastructure, the presence of manufacturers of oxygen therapy machines, early accessibility of cutting-edge technology, and new product introductions. Drop in the unemployment rate has led to a rise in per capita health spending, which is expected to continue during the forecast period.

Due to the increasing adoption of home-based oxygen therapy devices, growing public awareness about the advantages of oxygen therapy, and an increase in investments in the enhancement of healthcare facilities, the U.S. is anticipated to hold a significant share of the global market for oxygen therapy equipment.

Will China Offer Lucrative Opportunities for Oxygen Therapy Equipment Suppliers?

“Supportive Government Initiatives for Respiratory Care in China”

The oxygen therapy equipment market in China is expected to increase at a CAGR of 11% from 2022 to 2027.

Market expansion in China is being driven by an increase in pollution, a rise in the demand for stationary oxygen therapy devices, an increase in the prevalence of asthma patients, and supportive government initiatives for respiratory care.

Aspects driving the market revenue in China include the increasing penetration of international companies, rising use of liquid oxygen devices, expanding research and development efforts, and an increase in the number of elderly people needing home-based oxygen therapy.

The urgent need for innovative systems and the replacement and modernization of medical infrastructure are the factors creating profitable growth prospects for oxygen therapy equipment suppliers over the forecast period.

Category-wise Insights

Why is the Popularity of Oxygen Source Equipment Rising Rapidly?

“Oxygen Source Equipment Gaining Traction Owing to High Accessibility & Consumption in Form of O2 Concentrators”

By product, the oxygen therapy equipment market is classified into oxygen delivery devices and oxygen source equipment.

Oxygen source equipment accounts for 70% share of the global market due to its high accessibility and consumption in the form of oxygen concentrators. Oxygen source equipment serves as the initial steps and main sources for O2 therapy, which greatly aids in the market growth.

Rising prevalence of respiratory illnesses and product innovations that have allowed for the development of smaller, quieter, and more active equipment are the factors anticipated to drive the demand for oxygen source equipment.

Portable concentrators are projected to have significant development potential due to their applications in a variety of medical circumstances as well as in ambulances & trains. This is expected to contribute to boosting the demand for oxygen source equipment.

O2 therapy is becoming more widely used as a result of its potential advantages, including regulated flow, effective dosing, quicker response times, and higher durability & reliability.

Which End User Drives High Demand for Oxygen Therapy Equipment?

“High Usage of Advanced Medical Technologies in Hospitals”

The oxygen therapy equipment market is segmented into home care, ambulatory surgical centers, physician offices, hospitals, and others on the basis of end user.

Hospitals make significant use of advanced medical technologies to enhance healthcare services. The segment growth is attributable to the growing usage of O2 therapy equipment and other solutions.

Patients with severe conditions are more likely to prefer hospital settings since they offer many facilities, which is projected to increase the need for oxygen therapy equipment in hospitals.

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Competitive Landscape

Top companies in the oxygen therapy equipment market put a strong emphasis on extending their global footprint through a variety of tactics, including alliances, collaborations, and partnerships. Market players are emphasizing the development of cutting-edge products that are more precise and efficient.

For instance :

  • In 2021, UNICEF collaborated with the U.K. government and Oxygen CoLab to enhance a reliable oxygen concentrator for use in low-resource settings. This project aims to meet the demand for oxygen in critical care facilities.

Segments of Oxygen Therapy Equipment Industry Research

  • By Product :

    • Oxygen Source Equipment
    • Oxygen Delivery Devices
  • By Portability :

    • Stationary
    • Portable
  • By Application :

    • COPD
    • Asthma
    • Cystic Fibrosis
    • Pneumonia
    • Others
  • By End User :

    • Hospitals
    • Home Care
    • Ambulatory Surgical Centers
    • Physician Offices
    • Others
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global oxygen therapy equipment market currently accounts for a valuation of US$ 3.6 billion.
The oxygen therapy equipment market in Germany is set to rise at 5% CAGR through 2027.
Demand for oxygen therapy equipment is set to increase at 7.6% CAGR from 2022 to 2027.
The global market for oxygen therapy equipment is projected to reach US$ 5.2 billion by 2027.
Smiths Medical, Teleflex Inc., and GE Healthcare are the top manufacturers of oxygen therapy devices.
Oxygen source equipment accounts for 70% share of the global market.

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