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

Q: What is the global market size of Oxygen Therapy Equipment Market?

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).

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

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.

Oxygen Therapy Equipment Market Report Snapshots

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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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Oxygen Therapy Equipment Market Regional Insights

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