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 segmentation. 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 treatment that involves administering oxygen at concentrations higher than that in ambient air to treat or prevent low blood oxygen levels. This therapy is crucial for individuals suffering from conditions that impair oxygen absorption, such as chronic obstructive pulmonary disease (COPD), pneumonia, asthma, and sleep apnea. The administered oxygen can come from various sources, including oxygen concentrators, compressed oxygen cylinders, or liquid oxygen devices. Oxygen therapy is characterized by its ability to rapidly increase the oxygen saturation in the blood, thereby alleviating symptoms of hypoxemia and improving patient outcomes. The effectiveness of oxygen therapy hinges on its capability to maintain adequate oxygen levels in the blood, which is essential for the proper functioning of body tissues and organs. This treatment is particularly advantageous in emergency medical situations and for long-term management of chronic respiratory diseases, offering benefits that include enhanced quality of life, increased stamina, and overall improved health status.
Oxygen Therapy Market Trends:
The global market is primarily driven by the rising prevalence of respiratory diseases such as COPD, asthma, and pneumonia worldwide. In line with this, the aging global population, which is more susceptible to such health issues, is also providing an impetus to the market. Moreover, the increasing incidence of sleep apnea among the general population acts as a significant growth-inducing factor for the market. In addition to this, the escalating pollution levels globally are resulting in a higher burden of respiratory ailments, thereby increasing the demand for oxygen therapy solutions. Besides this, technological advancements in oxygen therapy devices, making them more portable and efficient, are creating lucrative opportunities in the market.
Also, the growing healthcare expenditure in emerging economies is impacting the market positively. The market is further driven by the expansion of healthcare infrastructure and services across the world. Apart from this, the rising awareness among populations regarding the availability and benefits of advanced oxygen therapy solutions is propelling the market. Some of the other factors contributing to the market include the spread of infectious diseases affecting the respiratory system, ongoing medical research that underscores the benefits of oxygen therapy, and favorable government initiatives that support healthcare accessibility and affordability.
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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 (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, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, 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
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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