Oxygen Therapy Equipment Market Set to Exceed $5.2 Billion by 2027 Amid Rising Prevalence of Chronic Diseases

Oxygen Therapy Equipment Market Set to Exceed .2 Billion by 2027 Amid Rising Prevalence of Chronic Diseases

Oxygen source equipment will account for 70% of global sales of oxygen therapy equipment

Fact.MR in its latest study highlights key growth factors, latest developments, opportunities and challenges, and market statistics to offer a better understanding in the global oxygen therapy equipment market. It also sheds light on the key trends influencing growth across segments including products, portability, applications and end users in 5 key regions.

NEW YORK, October 25, 2022 /PRNewswire/ — A Market research and competitive intelligence provider: The global oxygen therapy equipment market is expected to reach US$3.6 billion in 2022, registering 8% CAGR during the forecast period (2022-2027). The demand in the market is forecast to increase thanks to the increasing use of advanced oxygen source equipment, surpassing $5.2 billion by 2027.

The demand for oxygen therapy equipment is expected to grow supported by the increase in the frequency of respiratory diseases, the high prevalence of tobacco use, the demand for home oxygen therapy and technical improvements in the health sector. In addition, the increasing incidence of chronic respiratory diseases and the demand for home health care will drive the market.

In addition, the acceptance of continuous and on-demand portable oxygen concentrators (POCs) is increasing in a variety of applications, such as emergency medicine. Subsequently, consumer desire for wearable technology and clinical need for mobility support for the aging population will drive demand.

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North America it is expected to expand at the fastest rate during the forecast period due to increased penetration of international players and research and development initiatives in the area. Furthermore, the increasing incidence of asthma and other respiratory diseases coupled with the increasing number of sleep apnea patients in the US will drive demand in the market.

In terms of product type, the oxygen source equipment segment is expected to dominate the market during the evaluation period. Availability and use in the form of O2 concentrators, compressed gas systems, cylinders, and liquid oxygen are attributed to the growth. Furthermore, these devices serve as the primary source and initial step for O2 treatment, significantly contributing to the overall growth of the industry.

Key takeaways:

  • North America Expected to Dominate the Global Oxygen Therapy Equipment Market During the Forecast Period (2022-2032)
  • The US is expected to account for a sizeable share of the global market for oxygen therapy equipment.
  • China’s oxygen treatment equipment market is projected to grow at a CAGR of 11% between 2022 and 2027.
  • By products, the global oxygen source equipment market accounts for 70% of the total market share.
  • Pacific Asia The market for oxygen therapy equipment is anticipated to witness the fastest growth during the forecast period.

Growth controllers:

  • The demand for oxygen therapy equipment is being driven by the increasing prevalence of respiratory disorders.
  • Medical technological advances and the growing use of portable oxygen concentrators are anticipated to drive the global market for oxygen treatment equipment.

Restrictions:

  • The lack of affordable substitutes and strict regulations will hamper expansion.
  • Expansion will be hampered by the high price of oxygen concentrators and the side effects of nasal dryness.

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Competitive landscape:

Global oxygen therapy equipment market players are focusing on increasing their global presence through different tactics such as partnerships, collaborations, and partnerships. companies are also investing heavily in research and development to include innovations in their products, which will help them improve their position in the world market.

For example,

  • In july 2021, Belluscura (BELL) announced the signing of its third distribution agreement and first with a durable medical equipment supplier for its X-PLO2RTM portable oxygen concentrator portfolio. There are several outlets and an online store for durable medical equipment (“DME”). Meanwhile, the third distributor has placed its first purchase order, with the X-PLO2RTM portable oxygen concentrator scheduled to arrive in less than 90 days.
  • In june 2020, Armstrong Medical launched the FD140i, a second generation dual therapy flow controller with a smoother transition from CPAP to HFOT.
  • In August 2019, OxyGo LLC has announced the availability of its new Bluetooth enabled POC with six flow configurations. The OxyGo NEXT, at less than 4.7 pounds and with six flow settings, has the highest oxygen output per pound of weight of any portable oxygen concentrator currently on the market. Designed to meet the requirements of oxygen patients and home medical equipment providers, for use at home, away from home and on vacation. OxyGo NEXT, a new wireless connectivity platform based on Bluetooth technology, will enable healthcare professionals to improve patient outcomes.

Key Companies Profiled by Fact.MR

  • health philips
  • medical blacksmiths
  • teleflex inc.
  • GE Health
  • Invacare Corporation
  • Linde’s Health
  • Chart Industries, Inc.
  • Dragerwerk AG & Co. KGaA
  • Fisher & Paykel Healthcare Ltd.
  • Inogene, Inc.
  • Taiyo Nippon Sanso Corporation

More valuable information about Oxygen Therapy Equipment Market

In the latest study, Fact.MR offers a detailed study on the global oxygen therapy equipment market for the forecast period from 2022 to 2027. This study also highlights the key drivers promoting oxygen therapy equipment sales through a segmentation detailed as follows:

By product:

  • Oxygen source equipment
  • Oxygen supply devices

For portability:

By application:

  • COPD
  • Asthma
  • Cystic fibrosis
  • Pneumonia
  • Others

By end user:

  • hospitals
  • home care
  • Ambulatory Surgical Centers
  • medical consultants
  • Others

By region:

  • North America
  • Europe
  • Pacific Asia
  • Latin America
  • middle East & Africa

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Key Questions Covered in The Oxygen Therapy Equipment Market Report

  • What is the projected value of the oxygen therapy equipment market in 2022?
  • At what rate will the global oxygen therapy equipment market grow until 2027?
  • What are the factors hindering growth in the Oxygen Therapy Equipment market?
  • Which region is expected to lead the global oxygen therapy equipment market during 2022-2027?
  • – Which are the factors driving the Oxygen Therapy Equipment market during the forecast period?
  • What is the expected market value of the Oxygen Therapy Equipment market during the forecast period?

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About Fact.MR

Fact.MR is a market research and consulting agency with extensive experience in emerging market intelligence. Covering a wide range, from automotive and industry 4.0 to healthcare, technology, chemicals and materials, even the most specific categories. We are committed to providing information that helps companies gain a deeper understanding of their target markets. We understand that making sense of the vast maze of data can be overwhelming for businesses. That is why focus on offering information that can really make a difference in the final results.

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