Global Oxygen Therapy Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Product, Application(Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, Pneumonia), End-use, and Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Forecast (2024 to 2029)

Updated On: June, 2024
ID: 3542
Pages: 175

Global Oxygen Therapy Market Size (2024 to 2029)

The global oxygen therapy market is expected to grow at a significant CAGR of 10.12% from 2024 to 2029 and be worth USD 21.60 billion by 2029 from USD 13.78 billion in 2024.

Oxygen therapy applies to numerous diseases, for instance, chronic obstructive pulmonary disease, asthma, respiratory distress syndrome, and obstructive sleep apnea. In addition, long-term oxygen treatments in patients suffering from chronic lung disease are believed to enhance the length and quality of life, contributing to the swift development of the global oxygen therapy market.

Current Scenario of the Global Oxygen Therapy Market 

Oxygen therapy is a treatment that provides patients with extra oxygen to breathe in, which is known to be supplemental oxygen. Supplemental oxygen therapy helps people with COPD, COVID-19, sleep apnea, and other breathing problems get enough oxygen to function. The global oxygen therapy market has witnessed prominent growth in the past years and is projected to have a significant growth rate during the forecast period. The rising prevalence of COPD and asthma cases is enhancing the demand for oxygen therapies, contributing to the global market revenue. According to the data published by the Global Asthma Network (GAN), asthma affects nearly 334 million people worldwide. The pandemic had a highly positive impact on oxygen therapies as COVID-19 highly affected the respiratory system of the people. The increased patient pool worldwide will accelerate the growth opportunities in the coming years. 


Technological advancements in respiratory care services and Y-O-Y growth in the inclination of patients for convenient home oxygen therapy devices are propelling the global oxygen therapy market growth.

Different oxygen treatments are utilized to treat various respiratory infections due to their supplementary and definitive role. The advantages of oxygen therapy include increased mental stamina, aversion to heart failure, and an enhanced breathing pattern. The growth of the global oxygen therapy market is further predicted to be driven by expanding the application of oxygen supply. The administration and supply of supplementary oxygen have become an indispensable part of managing numerous diseases.

The adoption of oxygen therapy is accelerating worldwide due to the potential benefits of controlled flow rate, efficient dosing, faster response rates, and increased durability and reliability. The factors mentioned above are expected to stimulate the expansion of the market. In addition, the growing popularity and adoption of on-demand and continuous portable oxygen concentrators (POCs) in a wide range of applications, such as emergency medicine, are also expected to fuel demand for years to come. This increase is attributable to the entry of global competitors into the market, consumer demand for wearable technologies, and the clinical urgency of increased mobility support for the geriatric population.

The growing geriatric population worldwide and the increasing prevalence of respiratory disorders in the elderly result in a preference for oxygen therapy, one of the significant factors expected to drive the growth of the global market. Besides, the growing preference for home healthcare, coupled with the availability of state-of-the-art infrastructure that supports effective patient care in developed countries, is another factor that is expected to facilitate the growth of the target market.

Besides, the increase in the incidence of pneumonia and other lung diseases and the increase in the percentage of newborns with respiratory problems results in a greater uptake of oxygen therapy, which should, among other things, factors support the growth of the world market. According to the WHO, pneumonia is the leading cause of death in children worldwide; each year, around 1.6 million children under the age of five accounts for 19% of all deaths. Also, the increase in public spending for the development of health infrastructure, coupled with a favorable regulatory scenario, is another factor expected to support market growth. Furthermore, increased investments by significant players in technological advancement and the development of advanced oxygen delivery systems are expected to create new revenue opportunities for players operating in the target market during the forecast period.

The market is further expected to grow through continuous innovation, which will result in more efficient units and lower prices. In addition, the growing patient population is expected to drive demand for these products. This substantial increase in demand is expected to stimulate the market in future years. In addition, the advent of advanced oxygen sources and delivery devices that provide efficient patient care is expected to boost the market. These advances include flow control devices, sensors, and delivery devices with pulse dosimeters.


However, the complex regulatory framework is a significant factor that is expected to hamper the growth of the global market. Also, the lack of developed infrastructure in developing countries to support home treatment is another factor that is expected to challenge the development of the worldwide market. Be that as it may, inadequate compensation and continuously changing regulations related to oxygen therapy devices are expected to hamper the growth of the global oxygen therapy market soon. Even though the worldwide oxygen therapy market expects hindrances due to a couple of restrictions, it will discover new development opportunities in growing economies.

Impact of COVID-19 on the Global Oxygen Therapy Market

The global oxygen therapy market is estimated to undergo another notable growth spike due to the outbreak of the Covid-19 pandemic worldwide. Covid-19 is known to create respiratory problems in patients. It is creating a high demand for oxygen therapy and will provide a much-needed boost to the overall development of the oxygen therapy devices market. The market is also expected to grow due to the various benefits associated with oxygen therapy.

Some of the main benefits of oxygen therapy are better breathing patterns, better mental endurance, and a lower risk of heart failure. Naturally, this wide array of advantages will also contribute to developing the global oxygen therapy market during the forecast period. Furthermore, the demand for oxygen therapy devices is estimated to grow due to the latest evolution and progress of medical procedures. Since these developments are widely recognized and adopted by the global healthcare industry, the market should naturally benefit.

Furthermore, the government's initiative to improve respiratory care and increase government funding to introduce new medical devices will benefit the growth of the global oxygen therapy market.




Market Size Available

2023 to 2029

Base Year


Forecast Period

2024 to 2029

Segments Covered

By Product Type, Application, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

Market Leaders Profiled

Respironics Inc., Teleflex Incorporated, AirSep Corporation, DeVilbiss Healthcare, ResMed Inc., Fisher & Paykel Healthcare Limited, Invacare, Essex Industries Inc., HERSILL S.L., and Weinmann Emergency Medical Technology.



Global Oxygen Therapy Market Analysis By Product Type 

The oxygen source equipment dominated the global market revenue due to its high availability and utilization of O2 concentrators, cylinders, and liquid oxygen. The oxygen source equipment acts as the primary source and initiation step to the oxygen therapy, contributing to growth. The oxygen concentrators sub-segment in the oxygen source equipment segment is estimated to have lucrative growth in the coming years. Various transportable concentrators are highly beneficial in medical emergencies and usage in ambulances, rails, and aircraft, raising the demand for oxygen concentrators and leading to segment growth. 

The oxygen delivery devices segment is projected to grow significantly during the forecast period due to the availability of a wide range of delivery devices for different patients' inspiratory and physiological needs. The potential advantages regarding constant oxygen flow, elimination of complicated masks, pressure-demand, and flow dilution are estimated to enhance demand in the coming years, leading to segment growth. 

Global Oxygen Therapy Market Analysis By Application

The Chronic Obstructive Pulmonary Disease (COPD) segment dominated the global market revenue with a significant market share of 38.2% in 2023 due to the prevalence of COPD worldwide. According to the WHO report, approximately 65 million people suffer from COPD, which is the third leading cause of mortality. The rising prevalence of COPD is majorly driving the segment growth by accelerating the demand for oxygen therapy. 

The Asthma segment is estimated to grow prominently in the coming years due to evolving oxygen treatment procedures. Various oxygen therapies, such as high-flow nasal cannula delivery of O2 in emergency care and non-invasive ventilation for the treatment of asthma, are expected to accelerate segment growth, leading to market expansion during the forecast period. 

Global Oxygen Therapy Market Analysis By End-User

The home healthcare segment held the largest share of 65% of the global revenue in 2023 and is anticipated to grow steadily during the forecast period. The rising incorporation of Long-Term Oxygen Therapy (LTOT) devices in the home is expected to boost the global market growth opportunities. Compared to conventional devices, physicians increasingly prescribe these devices due to their advantages, like portability, ease of use, and low incidence of hospitalization, which will accelerate the growth opportunities in the coming years. 


North America accounted for a staggering share of 40% of the worldwide market in 2023 and is expected to continue the domination throughout the forecast period owing to the high R&D investments and an increase in the number of product endorsements have been the key growth drivers responsible for North America’s largest market share. As a result, the North American market is expected to dominate and maintain the global market during the forecast period. This dominance can be attributed to the growing preference for home care among the elderly, the well-developed healthcare infrastructure that supports advanced healthcare facilities, and the presence of major players operating in countries of the world. Also, increased M&A activity is expected to facilitate market development in this region.

Europe follows the North American market due to favorable government initiatives for improving respiratory care, such as the European Committee for Hyperbaric Medicine (ECHM), to promote awareness about the treatment.

Asia-Pacific is expected to offer a lucrative market due to the increasing elderly population who require home-based oxygen therapy. Furthermore, the rising healthcare expenditure in emerging economies such as China and India will fuel the market further. The Asia-Pacific region market is expected to experience faster growth, owing to increased public spending on healthcare infrastructure development, the developing regulatory landscape, and leading players operating in this region's emerging economies.

Latin America is estimated to grow at a healthy CAGR during the forecast period.

The market in the Middle East and Africa is expected to grow at a moderate CAGR in the coming years.


Companies such as Respironics Inc., Teleflex Incorporated, AirSep Corporation, DeVilbiss Healthcare, ResMed Inc., Fisher & Paykel Healthcare Limited, Invacare, Essex Industries Inc., HERSILL S.L., and Weinmann Emergency Medical Technology are playing a leading role in the global oxygen therapy market.


  • In January 2024, Sechrist Industries launched two products: the eHEAL software system and the 3300HM Hyperbaric Chamber, which enhance hyperbaric oxygen therapy. The new offerings combine advanced technology with user-friendly features, aiming to improve the efficiency and safety of hyperbaric treatments. 
  • In July 2023, Emerson launched the ASCO Series 588 Stationary Oxygen Concentrator Manifold, the healthcare industry’s first turnkey manifold solution designed to optimize respiratory therapy device designs, accelerating product adoption in the market. 
  • In June 2022, Armstrong Medical announced the second-generation FD140i, a superior dual treatment flow driver that facilitates the transition from Continuous Positive Airway Pressure (CPAP) to high-glow oxygen therapy (HFOT). 
  • In November 2021, the United Nations Children’s Fund (UNICEF) and the UK government joined forces to develop a state-of-the-art oxygen concentrator specifically designed for low-resource environments. The oxygen concentrator is part of UNICEF’s COVID-19 campaign to fulfill the oxygen needs of critical care environments. 


This research report on the global oxygen therapy market has been segmented and sub-segmented based on the product type, application, end-user, and region.

By Product Type

  • Oxygen Source Equipment
    • Oxygen Concentrators 
      • Fixed Oxygen Concentrators
      • Portable Oxygen Concentrators
    • Liquid Oxygen Devices 
    • Oxygen Cylinders 
  • Oxygen Delivery Devices
    • Oxygen Masks 
    • Nasal Cannulas
    • Venturi Masks 
    • Non-Rebreather Masks 
    • Bag Valve Masks 
    • Other Devices

By Application

  • Chronic Obstructive Pulmonary Disease
  • Asthma
  • Obstructive Sleep Apnea
  • Respiratory Distress Syndrome
  • Cystic Fibrosis
  • Pneumonia

By End-user

  • Home Healthcare
  • Hospitals

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

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Frequently Asked Questions

What is the current size of the oxygen therapy market?

The worldwide oxygen therapy market size was valued at USD 12.6 billion in 2023.

What are the key drivers of the oxygen therapy market?

The growing aging population worldwide, increasing prevalence of respiratory diseases, growing awareness about the benefits of oxygen therapy, and advancements in technology are majorly driving the growth of the oxygen therapy market.

Who are the major players in the oxygen therapy market?

Philips Healthcare, Invacare Corporation, Chart Industries, Inogen, Inc., and Drive DeVilbiss Healthcare are some of the notable companies in the oxygen therapy market.

Which region is expected to dominate the oxygen therapy market in the coming years?

North America is predicted to capture the largest share of the worldwide market in the coming years.

What are the challenges faced by the oxygen therapy market?

The high cost of equipment and devices, increasing competition, and lack of awareness among patients about the benefits of oxygen therapy are some of the key challenges to the oxygen therapy market.

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