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Global Oxygen Therapy Market to Reach US$ 25.5 Billion by 2027, Propelled by the Rising Prevalence of Numerous Respiratory Disorders

Published on Oct 21, 2022

 

The latest report by IMARC, titled “Oxygen Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global oxygen therapy market size reached US$ 16.4 Billion in 2021. Oxygen therapy, also known as supplemental oxygen, refers to a medical treatment involving an additional oxygen source to direct the blood oxygen levels and avoid carbon monoxide toxicity. It is generally used for medical conditions such as hypoxemia, hypoxia, pneumonia, and asthma. The oxygen is dispensed in gaseous or liquid form, which is transferred with the help of a cannula, hyperbaric oxygen chamber, or face mask. In recent years, oxygen therapy has gained momentum due to the extensive employment of novel portable tanks and oxygen concentrators to offer patients point-of-care (POC) and convenient oxygen therapy treatments.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will further e integrated into the report.

Global Oxygen Therapy Market Trends:

One of the primary factors driving the market is the rising prevalence of numerous respiratory disorders, including cystic fibrosis, pneumonia, asthma, dysplasia, and sleep apnea. Additionally, this procedure enhances the oxygen transfer from alveoli to cell metabolism, blood, and tissue oxygenation, thereby creating a positive market outlook. Besides this, the rising consumption of nicotine and tobacco products and the increasing geriatric population are positively influencing the market growth. Besides this, the sudden outbreak of the coronavirus disease (COVID-19) has led to the widespread use of oxygen therapy to treat patients critically ill with the disease. In line with this, the progress of economical, accurate, and rapid oxygen therapy devices is propelling market growth. Other growth-inducing factors include extensive investment in research and development (R&D) activities and increasing healthcare expenditure capacities. Looking forward, IMARC Group expects the market value to reach US$ 25.5 Billion by 2027, expanding at a CAGR of 8.1% during the forecast period (2022-2027).

Market Summary:

  • Based on the product, the market has been divided into oxygen source equipment (oxygen cylinders, oxygen concentrators, liquid oxygen devices, and PAP devices), oxygen delivery devices (oxygen masks, nasal cannula, venturi masks, non-rebreather masks, bag valve masks, CPAP masks, and others).
  • On the basis of the application, the market has been segregated into chronic obstructive pulmonary disease, asthma, obstructive sleep apnea, respiratory distress syndrome, cystic fibrosis, pneumonia, and others).
  • Based on the end use, the market has been bifurcated into home healthcare and hospitals.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being 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 Groups plc, Techno-Gaz S.p.A., and Teleflex Incorporated.
     

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