The oxygen therapy global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Oxygen Therapy Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The oxygen therapy market size has grown strongly in recent years. It will grow from $25.83 billion in 2023 to $28.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased prevalence of respiratory diseases and disorders, growing geriatric population globally, government initiatives promoting healthcare infrastructure, expansion of home healthcare services, increased smoking-related health issues..
The oxygen therapy market size is expected to see strong growth in the next few years. It will grow to $41.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to innovative devices, personalized medicine, r&d investments, climate change impact, sports and fitness.. Major trends in the forecast period include value-based care models, regulatory advances, patient education initiatives, alternative oxygen delivery models, patient-centric design..
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Scope Of Oxygen Therapy Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Oxygen Therapy Market Overview
Market Drivers –
The increasing prevalence of tobacco smoking is expected to propel the growth of the oxygen therapy market going forward. Tobacco smoking refers to the practice of burning tobacco with the smoke inhaled to be tasted and absorbed into the bloodstream. Individuals with smoking-related respiratory diseases often experience difficulties in breathing and reduced oxygen levels in their blood. Oxygen therapy becomes a critical intervention to provide supplemental oxygen, aiding in alleviating breathing difficulties and improving oxygen saturation levels. For instance, according to the Centers for Disease Control and Prevention, a US-based government agency, as of 2021, nearly 11.5% of U.S. adults, an estimated 28.3 million people smoked cigarettes, with 13.1% of men and 10.1% of women being smokers. Therefore, the increasing prevalence of tobacco smoking is driving the growth of the oxygen therapy market.
Market Trends —
Major companies operating in the oxygen therapy market are developing innovative products such as portable oxygen concentrator to address the needs of individuals with breathing-related disorders. A portable oxygen concentrator is a compact, lightweight medical device that concentrates ambient air to provide a continuous and adjustable supply of oxygen for individuals with respiratory conditions. For instance, in October 2022, O2 Concepts, a US-based medical device manufacturer, launched Oxlife Liberty. The Oxlife Liberty is a portable oxygen concentrator offering both continuous flow and pulse dose oxygen delivery. The device offers pulse flow settings ranging from 1 to 9, providing a wide range of oxygen delivery options for various respiratory conditions. This allows for a more personalized oxygen therapy experience. It is equipped with O2 Concepts’ proprietary Dynamic Network Analysis (DNA) Technology, which facilitates the connection of Durable Medical Equipment (DME) with device data to enhance operational efficiency, asset management, and inventory control. Oxlife Liberty’s innovative features and advanced technology provide a new standard for portability, versatility, and clinical oxygen therapy, offering patients a reliable and effective solution for their oxygen therapy needs.
The oxygen therapy market covered in this report is segmented –
1) By Product: Oxygen Delivery Devices, Oxygen Source Equipment
2) By Portability: Stationary Devices, Portable Devices
3) By Application: Pneumonia, Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, Other Applications
4) By End User: Hospitals, Clinics, Home Care, Post Acute Care Settings
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Regional Insights —
North America was the largest region in the oxygen therapy market in 2023. The regions covered in the oxygen therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies —
Major companies operating in the oxygen therapy market report are Smiths Medical Inc., Hersill SL, Fisher & Paykel Healthcare Corporation Limited, Invacare Corporation, Teleflex Incorporated, Koninklijke Philips N.V., Drive Devilbiss International, Allied Healthcare Products Inc., Becton Dickinson and Company, General Electric Company, Getinge Group, Essex Industries Inc., Chart Industries Inc., Drägerwerk AG & Co. KGaA, Gas Control Equipment Group, Thermo Fisher Scientific Inc., OxyBand Technologies Inc., Nidek Medical Products Inc., Philips Healthcare, Linde Healthcare, Taiyo Nippon Sanso Corporation, Inogen Inc., Heinen + Löwenstein GmbH & Co. KG, Messer Medical Austria GmbH, TECNO-GAZ S.p.A, HUM — Gesellschaft für Homecare und Medizintechnik mbH, medicap homecare GmbH, GCE Holding AB, DeVilbiss Healthcare, Salter Labs, Vyaire Medical Inc., CAIRE Inc., Precision Medical Inc., O2 Concepts LLC, AirSep Corporation .
Table of Contents
1. Executive Summary
2. Oxygen Therapy Market Report Structure
3. Oxygen Therapy Market Trends And Strategies
4. Oxygen Therapy Market — Macro Economic Scenario
5. Oxygen Therapy Market Size And Growth
…..
27. Oxygen Therapy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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