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Global Oxygen Therapy Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Product, Application, End-use, and Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Forecast (2023 to 2028)

Published: March, 2023
ID: 3542
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Oxygen Therapy Market Size (2023 to 2028)

The global oxygen therapy market is expected to grow at a significant CAGR of 10.12% from 2023 to 2028 and be worth USD 20.41 billion by 2028 from USD 12.6 billion in 2023. 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.


Technological advancements in respiratory care services and a rise in patients' inclination for convenient home oxygen therapy devices are key driving factors for 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

2022 to 2028

Base Year


Forecast Period

2023 to 2028

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


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.

 Oxygen Therapy Market - 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    

The oxygen source equipment segment is expected to grow at 11% CAGR based on product type. It is attributed to the consolidation of this equipment in various uses as the first treatment line.

Oxygen Therapy Market - By Application:

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

The chronic obstructive pulmonary disease segment holds the largest share of the application segment based on the application. It is anticipated to grow lucratively at a CAGR of over 10.5% over the next five years due to the increasing popularity of supplemental administration in conjunction with first-line treatments available for COPD. Moreover, this treatment includes faster response rates, reliability, and portability, which improves the chances of survival.

Oxygen Therapy Market - By End-user:

  • Home Healthcare
  • Hospitals

Based on end-user, Home healthcare dominates the end-use segment, owing to the rise in the elderly population and an increasing number of patients with low mobility and long-term care requirements in conditions such as Alzheimer’s disease.

Oxygen Therapy Market - By Region:

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

Based on geography, the North American oxygen therapy market accounted for a staggering share of 40% of the worldwide market in 2022 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.

The Europe oxygen therapy market 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.

The Asia-Pacific oxygen therapy market 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.

The Latin American oxygen therapy market is estimated to grow at a healthy CAGR during the forecast period.

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


The most promising companies leading the Global Oxygen Therapy Market profiled in this report are 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.


  • In September 2019, CAIRE Inc., creator of oxygen therapy solutions, launched the Freestyle® Comfort® portable oxygen concentrator.

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What is the current size of the oxygen therapy market?

The worldwide oxygen therapy market size was valued at USD 11.45 billion in 2022.

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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