The latest report by IMARC Group, titled “Oxygen Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the oxygen therapy market outlook. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
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 Market Overview:
Oxygen therapy is a medical intervention that provides supplemental oxygen to individuals who are unable to obtain adequate oxygen levels naturally due to respiratory disorders or acute medical conditions. This therapy utilizes various devices, including nasal cannulas, masks, and oxygen concentrators, to deliver oxygen at higher concentrations than ambient air contains. The primary characteristic of oxygen therapy is its ability to improve oxygen saturation in the bloodstream, thereby enhancing the patient's overall health and well-being.
It works by increasing the amount of oxygen that the lungs inhale and distribute to the body's tissues, which is crucial for metabolism and physical functioning. Properties of oxygen therapy equipment include portability, adjustable oxygen flow rates, and varying oxygen concentration levels, tailored to meet individual patient needs. The advantages of using oxygen therapy include improved breathing, relief from shortness of breath, and enhanced quality of life for those with chronic respiratory conditions.
Oxygen Therapy Market Trends:
The global oxygen therapy market is witnessing a robust expansion, primarily fueled by the growing prevalence of respiratory diseases such as COPD, asthma, and sleep apnea. In line with this, the aging global population, which is more susceptible to such conditions, is also providing a significant push to the market. Moreover, the recent pandemic has underscored the critical need for respiratory support among patients, further acting as a pivotal growth catalyst. In addition to this, technological advancements in oxygen therapy devices, making them more efficient and user-friendly, are attracting a larger patient demographic.
Also, the increasing healthcare expenditure globally is facilitating the accessibility and affordability of advanced oxygen therapy solutions. The market benefits additionally from the growing awareness about the importance of early diagnosis and treatment of respiratory conditions. Apart from this, strategic initiatives by key players, such as mergers, acquisitions, and the launch of innovative products, are propelling the market forward. Other contributing factors include the rise in pollution levels, leading to increased respiratory ailments, and the bolstering support from governments and healthcare organizations for respiratory care.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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.
Oxygen Therapy Market Segmentation:
Our report has categorized the market based on 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 (USA, Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia, others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
- Middle East/Africa
- Latin America (Brazil, Mexico, others)
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About US:
IMARC Group is a leading market research firm that provides management strategy and market research worldwide. We work with clients in every sector and geography to identify their most valuable opportunities, address their most important challenges and transform their businesses.
The IMARC Group's information offerings include key market trends, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high technology sectors. Market forecasts and industry analysis in biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and innovative processing methods are among the company's top areas of expertise.
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