Oxygen Therapy Market Size To Grow USD 18.2 Billion By 2024 | The Key Players in This Industry Include CareFusion, Corp., Tecno-Gaz Industries, GE Healthcare, & Hersill: Grand View Research, Inc.

Oxygen Therapy Market Size To Grow USD 18.2 Billion By 2024 | The Key Players in This Industry Include CareFusion, Corp., Tecno-Gaz Industries, GE Healthcare, & Hersill: Grand View Research, Inc.

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According to a new report by Grand View Research, Inc the global oxygen therapy market size was estimated at USD 7.09 billion in 2015 and is anticipated to grow at a CAGR of 11.1% over the forecast period. Increasing incidences of chronic respiratory diseases coupled with rising demand for home healthcare are the major drivers of the market.

The global oxygen therapy market is expected to reach USD 18.2 billion by 2024, according to a new study by Grand View Research, Inc. The increasing prevalence of major respiratory diseases, such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and obstructive sleep apnea, is a high impact rendering driver of oxygen therapy market.

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U.S. oxygen therapy market

As per the estimates of the WHO, a consequential global rise in the prevalence of asthma and other respiratory disorders, is expected to heightened clinical urgency to treat the aforementioned disorders and is expected to boost the demand for oxygen therapy as the first-line treatment and as a supplement in various applications. 

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Moreover, technological advancements are anticipated to provide growth platforms in a wide range of new applications such as cancer and diabetes; for instance, incorporation of flow sensors in delivery devices to conserve and regulate the flow enabling greater patient comfort and outcomes. 

Further key findings from the study suggest:

  • The oxygen source equipment segment dominated the product segment in terms of revenue share in 2015owing toits high usage rate and wide scale availability in various forms such as liquid compressed gas, and concentrators. On the other hand, oxygen delivery devices are expected to grow at a lucrative rate being an indispensable part of the oxygen therapy set-ups, thereby contributing towards the overall oxygen therapy market growth during the forecast period.

  • Oxygen concentrator spear headed the source equipment market segment owing to rising popularity and adoption of Portable Concentrators in emergency medicine, ambulatory, and home settings.

  • Oxygen masks dominated delivery device market segment at over USD 800.0 million in 2015, as a consequence of being the indispensable unit of the delivery system and greater availability of specialty masks as per the patient’s physiological needs

  • Chronic Obstructive Pulmonary Disease (COPD) held a substantial market share of application segment and constituted for over 37.0%of the overall revenue share, owing to presence of unmet needs pertinent to COPD treatment, thereby propelling the demand for oxygen therapy market

  • Home Healthcare is anticipated to grow lucratively at CAGR of 11.8% owing to associated benefits such as long-term cost efficiency and increased mobility, propelling the demand over the forecast period. Moreover, presence of organizations such American Association for Homecare to promote awareness and strengthen home healthcare are expected to provide growth platform in future to oxygen therapy market

  • The key players in this industry include CareFusion, Corp., Tecno-Gaz Industries, GE Healthcare, Hersill, DeVilbiss Healthcare, Philips Respironics, Inc., MAQUET Medical Systems, Allied Healthcare Products, Smiths Medical, Fisher & Paykel Healthcare Limited, Invacare Corporation and Teleflex Incorporated

  • These industry players are adopting strategies such as new product development, technological innovation, and strategic collaborations, such as mergers &acquisitions, to capitalize their industry share. For instance, in May 2015, Fisher & Paykel Healthcare launched AIRVO nasal high-flow system to expand its product portfolio and capture greater share of oxygen therapy market.

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Global oxygen therapy market


Furthermore, the increasing focus on home healthcare solutions coupled with the development of portable delivery devices has a major impact on the oxygen therapy market. These aforementioned factors are expected to serve as key contributing factors towards the growth of the oxygen therapy market over the forecast period.

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Grand View Research has segmented the oxygen therapy market on the basis of product, application, end-use, and region: 

Global Oxygen Therapy Product Outlook (Revenue, USD Million, 2012 – 2022)

  • Oxygen Source Equipment

    • Oxygen Cylinders

    • Oxygen Concentrators

    • Liquid Oxygen Devices

    • PAP Devices

  • Oxygen Delivery Device

    • Oxygen Masks

    • Nasal Cannula

    • Venturi Masks

    • Non-rebreather Masks

    • Bag Valve Masks

    • CPAP Masks

    • Others

Global Oxygen Therapy Application Outlook (Revenue, USD Million, 2014 – 2024)

  • Chronic Obstructive Pulmonary Disease

  • Asthma

  • Obstructive Sleep Apnea

  • Respiratory Distress Syndrome

  • Cystic Fibrosis

  • Pneumonia

  • Others

Global Oxygen Therapy End-Use Outlook (Revenue, USD Million, 2014 – 2024)

  • Home Healthcare

  • Hospital

Oxygen Therapy Regional Outlook (Revenue, USD Million, 2014 – 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa

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About Grand View Research


Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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