Oxygen Therapy Market Growth Accelerated by Elevated demand for Chronic Respiratory Disease Management

Oxygen Therapy Market


Oxygen therapy products allow healthcare providers to provide supplemental oxygen therapy to patients with respiratory diseases and help improve breathing. Portable oxygen concentrators are lightweight, portable oxygen supply devices that provide continuous flow of enriched oxygen to patients on the go.

The global Oxygen Therapy Market is estimated to be valued at US$ 36.75 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The elevated demand for oxygen therapy products is driven by the rising prevalence of chronic respiratory diseases like COPD and asthma. As per the latest Global Burden of Disease Study, chronic respiratory diseases affected over 338 million people globally in 2017. Portable oxygen concentrators are seeing growing preference over liquid oxygen tanks as they offer independence to the patients and are more convenient. Manufacturers are also focusing on developing innovative portable oxygen concentrators with advanced features like integrated oxygen sensors and longer battery life to increase accessibility to oxygen therapy.

Segment Analysis
The global oxygen therapy market is segmented by oxygen source equipment and application. Based on oxygen source equipment, the market is dominated by oxygen concentrators sub segment owing to their higher efficiency and lack of requirement for storage tanks compared to liquid oxygen systems. Oxygen concentrators accounted for around 70% of total oxygen therapy market share in 2023 due to their portability, ease of use and lower costs compared to other oxygen source equipment.

Key Takeaways
Global Oxygen Therapy Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis shows that the Asia Pacific region is expected to be the fastest growing and dominating region in the oxygen therapy market owing to rising geriatric population, increased prevalence of respiratory diseases and growing adoption of home healthcare in countries like China and India.

Key players operating in the oxygen therapy market are Ottobock, Össur hf, Teh Lin Pros. & Ortho. Inc., Shijiazhuang Wonderfu Rehabilitation Device Technology Co., Ltd., Hebei Baisite Prosthetic Orthotic Technology Co., Ltd., Beijing Jingbo Prosthetics & Orthotics Technical Co., Ltd., Nobel China Limited, Shijiazhuang Aofeite Import & Export Co., Ltd., e-Life International Co., Ltd., Rehan International Co., Ltd., and Xiamen Huakang Orthopedic Co., Ltd.

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