Oxygen Therapy Devices Market Size, Share & Trends Analysis Report By Product (Oxygen source devices, Oxygen delivery devices), By Application (Chronic obstructive pulmonary disease, Asthma, Obstructive sleep apnea, Respiratory distress syndrome, Cystic fibrosis, Pneumonia), By End-Use (Home healthcare, Hospitals and clinics) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Oxygen Therapy Devices Market Size & Trends

The global oxygen therapy devices market size was valued at USD 37.49 billion in 2023 and is projected to from USD 39.52 billion to USD 60.08 billion by 2032, registering a CAGR of 5.38% during the forecast period (2024-2032). The increase in oxygen therapy devices market share during the forecast period is related to the rising prevalence of chronic respiratory diseases like asthma, COPD, pneumonia, and obstructive sleep apnea, which drive the demand for oxygen therapy devices.

Supplemental oxygen is given via oxygen treatment devices to people with low blood oxygen levels due to respiratory disorders such as COPD, COVID-19, emphysema, sleep apnea, and others. These gadgets aid in supplying the body with the oxygen it requires to operate and maintain health. They can be found in many different forms, such as oxygen-conserving gadgets, big, fixed oxygen systems for use at home, and compact, portable systems for use while traveling. Oxygen-conserving devices are made to last longer since they only release oxygen when a person inhales. These units are frequently utilized with oxygen-evaporating tanks. They may be helpful for people who need oxygen therapy on a long-term basis.

A concentrator or reservoir supplies oxygen to a person while they are at home, and most home oxygen systems are extensive and fixed. These systems can be utilized with various delivery devices, including masks, nasal cannulas, and reservoir tubing. They are connected to the patient via tubing. People who are traveling can receive oxygen therapy thanks to portable oxygen systems, which are made to be lightweight and portable. These systems include refillable tanks, transportable oxygen concentrators, and compact aluminum cylinders with oxygen-saving components. The quantity of oxygen delivered and the flow rates needed by oxygen delivery systems differ. Nasal cannulas and other low-flow delivery devices provide less than 20 L/min flows, whereas high-flow delivery devices give rates of more than 20 L/min. The particular needs of the user and the available resources determine the device of choice. 

Highlights

• Oxygen delivery devices lead the market by product.
• Chronic obstructive pulmonary disease dominates the market by application.
• Hospitals and clinics hold a significant share of the market by end-use.

Oxygen Therapy Devices Market Growth

Rising Prevalence of Respiratory Diseases and Chronic Conditions

The increased frequency of respiratory disorders and chronic ailments, such as chronic obstructive pulmonary disease (COPD), asthma, pneumonia, and cystic fibrosis, is a significant factor driving global demand for oxygen therapy equipment. According to the World Health Organization (WHO), in 2023, chronic obstructive pulmonary disease (COPD) affected 384 million people globally. The American Lung Association stated that in 2023, lung cancer was the leading cause of cancer deaths, accounting for 25% of all cancer fatalities in the United States. Air pollution, tobacco smoking, aging populations, and lifestyle changes all contribute to an increase in the burden of respiratory disorders. These disorders frequently cause reduced lung function, hypoxemia (low blood oxygen levels), and respiratory failure, prompting supplementary oxygen therapy to increase patients' oxygenation and relieve symptoms. As the world population ages and lifestyles change, the frequency and prevalence of respiratory illnesses are predicted to rise, increasing demand for oxygen therapy devices in healthcare settings such as hospitals, clinics, and at home.

Technological Advancement and Product Innovation

Technological improvements and continuous innovation in oxygen therapy devices are critical to driving market growth and improving patient outcomes. The FDA approved 15 new portable oxygen concentrators between 2020 and 2024, expanding options for mobile oxygen therapy. In 2023, the global market for smart oxygen concentrators grew by 25%, driven by IoT integration and remote monitoring capabilities. Manufacturers are constantly investing in R&D to introduce better oxygen delivery systems, portable oxygen concentrators, and oxygen-saving devices with improved features, functionality, and patient comfort. For example, developing lightweight and wearable oxygen therapy equipment gives patients more mobility and flexibility, allowing them to continue their everyday activities while getting oxygen therapy. 

Furthermore, improvements in oxygen delivery modes, such as high-flow nasal cannula (HFNC) therapy and non-invasive ventilation (NIV), provide alternatives to traditional oxygen administration methods, enhancing patient compliance and treatment outcomes. Furthermore, incorporating intelligent technologies such as wireless connectivity, remote monitoring, and data analytics into oxygen therapy devices makes remote patient management more accessible, improves therapy adherence, and allows healthcare providers to optimize treatment protocols for better patient outcomes.

Oxygen Therapy Devices Market Restraining Factors

High Cost of Oxygen Therapy Devices and Maintenance

The high cost of oxygen therapy devices, including initial purchase pricing and continuing maintenance expenses, is a substantial barrier to market growth. These advanced devices deliver high-flow, heated, and humidified oxygen, typically costing between INR 200,000 and 350,000. Oxygen concentrators, portable oxygen cylinders, and other oxygen delivery systems need a significant upfront investment from healthcare facilities, clinicians, and patients. Furthermore, the ongoing expenditures of consumables such as oxygen cylinders, tubing, filters, and accessories increase the overall financial burden. In resource-constrained healthcare settings and locations with limited access to healthcare services, pricing becomes a significant obstacle to adopting oxygen therapy equipment, preventing patients from receiving life-saving treatment. 

Additionally, maintenance and service requirements for oxygen treatment equipment incur extra expenditures, such as routine inspections, repairs, and part replacement, contributing to the total ownership cost. These cost limits limit the ability of healthcare providers and patients to invest in oxygen therapy equipment, particularly in low- and middle-income countries with limited healthcare budgets, hindering market expansion.

Distributed Infrastructure

The worldwide oxygen therapy devices market faces significant challenges regarding oxygen delivery and distribution infrastructure. In many places, particularly in low-resource and rural areas, more infrastructure for oxygen generation, storage, and distribution is needed to administer oxygen therapy to needy patients effectively. Limited access to reliable electricity, limited medical gas supply systems, and logistical issues in delivering oxygen cylinders or concentrators to remote sites make providing prompt and consistent oxygen treatment services challenging. 

Furthermore, differences in healthcare infrastructure and uneven distribution of healthcare resources exacerbate access concerns, resulting in inequities in oxygen treatment delivery to underprivileged people. Addressing these infrastructure challenges will necessitate coordinated efforts from governments, healthcare organizations, and international agencies to invest in strengthening healthcare systems, improving oxygen supply chains, and increasing access to essential medical gases and oxygen therapy equipment, thereby overcoming market growth barriers and improving patient outcomes.    

Oxygen Therapy Devices Market Opportunities

Expanding Applications of Oxygen Therapy in Non-Respiratory Conditions

The growing use of oxygen therapy for non-respiratory illnesses represents a substantial opportunity in the worldwide oxygen therapy devices market. The American Society of Clinical Oncology reported 2023 that 25% of radiation therapy centers used hyperbaric oxygen therapy to enhance treatment efficacy. A 2024 meta-analysis in the Journal of Cancer Research showed that combining chemotherapy with hyperbaric oxygen therapy increased tumor response rates by 18%. While oxygen therapy has long been used to treat respiratory diseases such as COPD and pneumonia, new research reveals that it may also be effective in treating non-respiratory problems such as cardiovascular disease, neurological disorders, and wound healing. 

Additionally, oxygen therapy is increasingly being investigated as a complementary treatment for cardiovascular disorders such as myocardial infarction (heart attack), congestive heart failure (CHF), and pulmonary hypertension. Supplemental oxygen therapy can improve tissue oxygenation, reduce myocardial ischemia, and lower cardiac workload, improving cardiovascular function and patient outcomes. Oxygen therapy has shown potential in the treatment of neurological illnesses such as stroke, traumatic brain injury (TBI), and neurodegenerative diseases. Supplemental oxygen therapy can alleviate cerebral hypoxia, reduce brain tissue damage, and increase neuroplasticity and neuronal repair processes after acute brain traumas or ischemic events. 

Oxygen Therapy Devices Market Regional Analysis

The global oxygen therapy devices market share is bifurcated into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America : Dominant Region with 4.15% Growth Rate (CAGR)

North America is the most significant market shareholder and is estimated to grow at a CAGR of 4.15% over the forecast period. North America, led by the United States, is the global leader in the Oxygen Therapy Devices market. According to the American Lung Association, roughly 16 million adults in the United States will be diagnosed with COPD in 2023, indicating the need for oxygen therapy. According to the United States Centers for Medicare and Medicaid Services, 75% of Medicare enrollees with severe COPD will be administered oxygen treatment equipment by 2024. Its superior healthcare infrastructure and substantial healthcare spending strengthen the region's dominance. 

Additionally, according to the Canadian Thoracic Society, 60% of Canadian patients with chronic respiratory disorders used home oxygen therapy in 2023. In addition, the United States Food and Drug Administration approved five new portable oxygen concentrators in 2024, expanding patients' treatment options. North America's elderly population, high frequency of respiratory disorders, and emphasis on home healthcare have all contributed to the broad use of oxygen treatment devices. Industry bodies such as the American Association for Respiratory Care have played an essential role in promoting best practices and standards for oxygen therapy, which has fueled the market expansion in the region.

Europe is the most rapidly growing market

Europe is estimated to grow at a CAGR of 3.90% over the forecast period. According to the European Respiratory Society, chronic respiratory disorders will impact more than 65 million individuals in the EU by 2023, with 20% requiring long-term oxygen therapy. In 2024, prescriptions for home oxygen therapy increased by 15% over the previous year, according to data from the UK's National Health Service. The German Federal Statistical Office reported that respiratory disorders will be the country's third most significant cause of death in 2023, fuelling demand for oxygen therapy devices. According to France's National Authority for Health, by 2024, 70% of hospitals will have integrated high-flow oxygen therapy systems into their standard care protocols for acute respiratory failure.

Furthermore, the region's emphasis on universal healthcare coverage and patient-centered care has helped to increase the availability of oxygen therapy devices. Moreover, the European Medical Device Regulation's adoption in 2021 has raised oxygen therapy devices' safety and efficacy standards. The region's focus on decreasing hospital readmissions through effective home care techniques has increased the usage of portable and home-based oxygen therapy systems across Europe.

Oxygen Therapy Devices Market Segmental Analysis

The global oxygen therapy devices market is segmented based on product, application, and end-use.

By Product

The oxygen therapy devices market is further segmented by product into oxygen source devices and oxygen delivery devices.

Oxygen delivery devices are the market leader. This dominance is due to these devices' critical function in delivering oxygen to those requiring supplementary oxygen therapy. Oxygen delivery equipment, such as nasal cannulas, masks, and ventilators, provide oxygen directly to the patient's airways, guaranteeing proper oxygenation of the body.  These devices are essential in a variety of medical disorders, including COPD, asthma, sleep apnea, and respiratory distress syndromes, where patients require precise and controlled oxygen delivery to improve their breathing and general health. Oxygen delivery systems are designed to accommodate various patient needs, ranging from low-flow devices such as nasal cannulas to high-flow devices such as non-rebreather masks, giving healthcare providers a variety of alternatives for meeting particular patient needs.

Furthermore, the importance of oxygen delivery devices in the oxygen therapy market is reinforced by ongoing technical improvements to improve efficiency, comfort, and effectiveness. As a result, demand for oxygen delivery equipment remains high, ensuring their dominance in the Oxygen Therapy equipment market segment.

By Application

The oxygen therapy devices market is further segmented by application into chronic obstructive pulmonary disease, asthma, obstructive sleep apnea, respiratory distress syndrome, cystic fibrosis, and pneumonia.

Chronic Obstructive Pulmonary Disease (COPD) is the dominant application in the Oxygen Therapy Devices market. This is because COPD is a chronic respiratory disease that affects millions of individuals globally and is a significant cause of morbidity and mortality. The condition is characterized by progressive airflow restriction, which can cause shortness of breath, coughing, and wheezing. Oxygen therapy is a typical treatment for COPD since it improves oxygenation and relieves symptoms. Several factors contribute to the COPD segment's dominance in the market for oxygen therapy equipment. To begin, smoking, air pollution, and aging populations are all contributing to an increase in the global prevalence of COPD. Second, COPD is a chronic ailment that necessitates long-term treatment, increasing the demand for oxygen therapy devices. Third, there is a rising awareness of the benefits of oxygen treatment for COPD patients, which has resulted in increased use of these devices. 

In conclusion, the COPD sector dominates the oxygen treatment devices market due to the rising prevalence of COPD, the requirement for long-term management, and increased awareness of the benefits of oxygen therapy for COPD patients. 

By End-Use

The oxygen therapy devices market is further segmented by end-use into home healthcare, hospitals, and clinics.

Hospitals and clinics dominate the Oxygen Therapy Devices market by end-use. Hospitals and clinics provide primary healthcare for people with acute and chronic respiratory problems. Oxygen therapy devices are critical in these situations because they give immediate and continuing respiratory assistance to patients with illnesses such as COPD, asthma, pneumonia, and respiratory distress syndrome. Hospitals and clinics treat a vast spectrum of patients with varied degrees of respiratory problems, necessitating a diversified selection of oxygen treatment devices to fulfill their requirements. These clinics frequently have the infrastructure and experience to deal with complex respiratory illnesses, making them the principal consumers of oxygen therapy equipment.

Furthermore, hospitals and clinics are prepared to manage medical crises, particularly those requiring emergency oxygen therapy. The availability of various oxygen therapy devices in multiple settings guarantees that patients receive timely and suitable treatment for their respiratory diseases. Hospitals and clinics are subject to stringent healthcare rules that require the availability of critical medical equipment, such as oxygen treatment devices, to ensure patient safety and quality care. This regulatory requirement increases the demand for oxygen therapy devices in specific healthcare settings. 

Impact of covid-19

Oxygen therapy is the ideal treatment intervention for patients suffering from COVID-19. Disruption in the supply chain has compelled the leading players to develop efficient oxygen source and oxygen delivery devices. For instance, ResMed is actively working to develop oxygen therapy devices such as oxygen concentrators, liquid oxygen devices, and CPAP devices. Thus, the rising prevalence of the COVID-19 is subsequently prompting the dire need for effective oxygen therapy devices. 

Recent Development

• Philips Respironics continued to innovate in respiratory care, particularly focusing on enhancing its portable oxygen concentrators. They improved user interface designs and enhanced battery life for more extended use in portable devices.
• Fisher & Paykel Healthcare, known for its advanced respiratory solutions, expanded its product line to include more sophisticated oxygen therapy devices designed for home care. The company is also investing in research to improve patient outcomes through new humidification technologies in oxygen therapy.