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How has the oxygen therapy market grown over the years?

In recent times, the oxygen therapy market has expanded significantly. Its predicted growth will be from $28.42 billion in 2024 to $30.97 billion in 2025, marking a compound annual growth rate (CAGR) of 9.0%. The growth during the historic period was driven by factors such as the surge in cases of respiratory diseases and disorders, an aging worldwide population, governmental efforts to enhance healthcare infrastructure, increased focus on home healthcare services, and a rise in health issues associated with smoking.

What Is the forecasted market size and growth rate for the oxygen therapy market?

Expectations are high for swift expansion in the oxygen therapy market over the ensuing years, where it’s predicted to inflate to $46.4 billion by 2029, at a compound annual growth rate (CAGR) of 10.6%. The growth in the projected timeframe can be credited to innovative devices, personalized healthcare, R&D funding, effects of climate change, and the sports and fitness sectors. Key trends during the forecast period are also likely to include value-oriented care models, regulatory progress, educational programs for patients, alternative models for oxygen supply and patient-focused design.

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What are the major factors driving growth in the oxygen therapy market?

The oxygen therapy market is predicted to flourish due to the escalating incidence of tobacco consumption. Tobacco smoking involves the combustion of tobacco whose smoke is then inhaled, savored, and absorbed into the circulatory system. People who suffer from respiratory issues related to smoking often confront problems with breathing and lowered oxygen concentrations in their blood, necessitating the critical intervention of oxygen therapy. This therapy provides additional oxygen that aids in mitigating breathing complications and augmenting oxygen saturation levels. For example, the National Health Service, a government department in the UK, reported that projected hospital admissions attributed to smoking in 2022-23 escalated to 408,700, up from 389,800 in 2021-22, reflecting a 4.8% rise. Therefore, the escalating incidence of tobacco consumption fuels the rise of the oxygen therapy market.

What key areas define the segmentation of the global oxygen therapy Market?

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

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What are the top market players propelling the growth of the oxygen therapy industry?

Major companies operating in the oxygen therapy market include Smiths Medical Inc., Hersill SL, Fisher & Paykel Healthcare Corporation Limited, Invacare Corporation, Teleflex Incorporated, Koninklijke Philips N.V., Drive Devilbiss International, Allied Healthcare Products Inc., Becton Dickinson and Company, General Electric Company, Getinge Group, Essex Industries Inc., Chart Industries Inc., Drägerwerk AG & Co. KGaA, Gas Control Equipment Group, Thermo Fisher Scientific Inc., OxyBand Technologies Inc., Nidek Medical Products Inc., Linde Healthcare, Taiyo Nippon Sanso Corporation, Inogen Inc., Heinen + Löwenstein GmbH & Co. KG, Messer Medical Austria GmbH, TECNO-GAZ S.p.A, HUM – Gesellschaft für Homecare und Medizintechnik mbH, medicap homecare GmbH, GCE Holding AB, Salter Labs, Vyaire Medical Inc., CAIRE Inc., Precision Medical Inc., O2 Concepts LLC, AirSep Corporation

What are the key trends shaping the future of the oxygen therapy market?

Leading firms in the oxygen therapy market are introducing inventive products like portable oxygen concentrators to cater to the requirements of people with respiratory ailments. A portable oxygen concentrator, a compact and light medical device, concentrates the surrounding air and offers an adjustable, constant oxygen supply to those with breathing issues. As an illustration, in October 2022, O2 Concepts, a medical device producer from the US, presented Oxlife Liberty. Oxlife Liberty is a portable oxygen concentrator that provides both steady flow and pulse dose oxygen delivery. The equipment offers pulse flow settings from 1 to 9, providing a broad array of oxygen delivery alternatives for different respiratory issues. This facilitates a more customized oxygen therapy experience. The device integrates O2 Concepts’ unique Dynamic Network Analysis (DNA) Technology, which simplifies the linking of Durable Medical Equipment (DME) with device data to boost operational efficiency, asset administration, and inventory management. The cutting-edge features and sophisticated technology of Oxlife Liberty establish a new benchmark for portability, versatility, and clinical oxygen therapy, offering patients a trustworthy and efficient solution for their oxygen therapy demands.

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What regions are dominating the oxygen therapy market growth?

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

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