Oxygen Therapy Market Overview, Outlook, and Forecast 2024-2032
IMARC Group expects the market to reach US$ 33.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.
According to IMARC Group latest report titled “Oxygen Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on oxygen therapy market overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global oxygen therapy market size reached US$ 18.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 33.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.
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Oxygen therapy is a medical intervention that involves administering supplemental oxygen to individuals with respiratory conditions or low blood oxygen levels. It is a crucial medical treatment for various conditions such as chronic obstructive pulmonary disease (COPD), pneumonia, and respiratory distress. The primary goal of oxygen therapy is to ensure an adequate supply of oxygen to the body's tissues and organs, improving overall oxygen saturation levels in the blood. This therapy is delivered through various devices, including nasal cannulas, face masks, or ventilators, depending on the severity of the respiratory impairment. Oxygen therapy helps alleviate symptoms such as shortness of breath, fatigue, and confusion, enhancing the patient's overall well-being and supporting the body's healing process. Proper monitoring and adjustment of oxygen levels are essential to optimize its effectiveness while minimizing the risk of complications.
Market Trends:
The global market is majorly driven by the rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and pneumonia. As the elderly population increases, so does the incidence of respiratory conditions, necessitating the use of oxygen therapy to manage and improve patients' respiratory function. Besides, advancements in technology have led to the development of innovative and more efficient oxygen delivery devices, enhancing patient comfort and compliance. Portable oxygen concentrators, for instance, have gained popularity, allowing individuals greater mobility and flexibility in their daily activities. Moreover, the growing awareness and understanding of the benefits of oxygen therapy among healthcare professionals and patients contribute to increased adoption. The therapy's efficacy in alleviating symptoms, improving quality of life, and supporting overall health drive its acceptance in diverse medical settings. Additionally, the ongoing COVID-19 pandemic has heightened the demand for oxygen therapy as respiratory support for severely affected patients. Furthermore, the expanding home healthcare sector and the preference for non-invasive respiratory interventions foster market growth, as more patients opt for in-home oxygen therapy solutions.
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Competitive Landscape
Allied Healthcare Products Inc.
Becton Dickinson and Company
DeVilbiss Healthcare LLC (Drive Medical Inc.)
Fisher & Paykel Healthcare Limited
General Electric Company
Getinge AB
Hersill SL
Invacare Corporation
Koninklijke Philips N.V
Smiths Group plc
Tecno-Gaz S.p.A.
Teleflex Incorporated
Key Market Segmentation:
Our report has categorized the market based on region, product, application and end use.
Breakup by Product:
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
Breakup by Application:
Chronic Obstructive Pulmonary Disease
Asthma
Obstructive Sleep Apnea
Respiratory Distress Syndrome
Cystic Fibrosis
Pneumonia
Others
Breakup by End Use:
Home Healthcare
Hospitals
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
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