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What is the Predicted CAGR for the Oxygen Therapy Market Over the Forecast Period of 2025 to 2034?

In recent times, there has been considerable growth in the size of the oxygen therapy market. It’s projected to witness an escalation from $28.42 billion in 2024 to $30.97 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%. The significant growth observed in the historic period is due to factors such as the growing incidence of respiratory diseases and disorders, an increase in the global ageing population, government-led initiatives for enhancing healthcare infrastructure, the expansion of home healthcare services and the rise in health concerns related to smoking.

The market size of oxygen therapy is anticipated to experience a swift expansion in the upcoming years, reaching $46.4 billion in 2029, with a compound annual growth rate (CAGR) of 10.6%. This growth during the forecast period can be credited to the introduction of innovative devices, the growth of personalised medicine, investments in research and development, the influence of climate change, and the sectors of sports and fitness. Key trends that will shape the forecast period include models of care based on value, advances in regulation, initiatives to educate patients, alternative models for delivering oxygen, and design centred on the patient.

Which Macro and Microeconomic Factors Are Accelerating the Growth of the oxygen therapy Market?

The surge in tobacco smoking habits is anticipated to boost the oxygen therapy market’s expansion. The term tobacco smoking denotes the act of burning tobacco and inhaling the resultant smoke for taste and absorption into the bloodstream. Individuals with respiratory conditions linked to smoking frequently have breathing issues and decreased blood oxygen levels. Oxygen therapy serves as a vital treatment to supplement oxygen, helping to ease respiratory issues and increase oxygen saturation in the body. A case in point is in December 2023, when the UK government’s National Health Service identified an estimated 408,700 hospital admissions in 2022-23, up from 389,800 in 2021–22, marking a 4.8% increase; these admissions were primarily due to smoking. As a result, the growing trend of tobacco smoking is fueling the oxygen therapy market’s progression.

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Who Are the Top Companies Driving Innovation and Growth in the Oxygen Therapy Market?

Major companies operating in the oxygen therapy market include:

• Smiths Medical Inc._x000D_

• Hersill SL_x000D_

• Fisher & Paykel Healthcare Corporation Limited_x000D_

• Invacare Corporation_x000D_

• Teleflex Incorporated_x000D_

What Key Trends Are Currently Impacting the Oxygen Therapy Market’s Development?

Principal companies in the oxygen therapy industry are evolving by producing cutting-edge products such as portable oxygen concentrators to cater to the requirements of those suffering from respiratory problems. A portable oxygen concentrator is a medical device that is lightweight and compact, which concentrates ambient air to provide an adjustable and continuous oxygen supply for individuals with respiratory disorders. For example, in October 2022, O2 Concepts, a US-based medical device manufacturer, introduced Oxlife Liberty. The Oxlife Liberty is a portable oxygen concentrator that provides both continuous flow and pulse dose oxygen delivery. The appliance provides pulse flow settings between 1 and 9, offering a vast array of oxygen delivery choices for numerous respiratory conditions. This leads to a more individualized oxygen therapy experience. It consists of O2 Concepts’ unique Dynamic Network Analysis (DNA) Technology, which makes it possible to connect Durable Medical Equipment (DME) with the device data to increase operational efficiency, asset supervision, and stock control. The innovative functions and advanced technology of Oxlife Liberty sets a new benchmark for portable, versatile, and clinical oxygen therapy, providing patients with a dependable and effective answer for their oxygen therapy requirements.

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What Are the Main Segments of the Oxygen Therapy Market, and How Are They Evolving?

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

Subsegments:

1) By Oxygen Delivery Devices: Nasal Cannulas, Oxygen Masks, Venturi Masks, Non-Rebreather Masks

2) By Oxygen Source Equipment: Oxygen Concentrators, Compressed Oxygen Cylinders, Liquid Oxygen Systems, Portable Oxygen Systems

Which Geographical Regions Are Pioneering Growth in the Oxygen Therapy Market?

North America was the largest region in the oxygen therapy market in 2024. The regions covered in the oxygen therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Are the Defining Aspects of the Oxygen Therapy Market Landscape?

Oxygen therapy refers to using additional oxygen as part of sickness management in people suffering from respiratory problems who can’t naturally breathe in sufficient oxygen due to various diseases and ailments. Oxygen therapy provides persons with lung disorders or breathing difficulties with the oxygen their bodies require to operate.

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