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What Are the Latest Market Insights for the Oxygen Source Equipment Industry?

The market size of oxygen source equipment has seen a rapid surge of late. The market is projected to swell from $3.59 billion in 2024 to $3.97 billion in 2025, with a compound annual growth rate (CAGR) of 10.6%. Several factors have contributed to the historical growth, including the escalating cases of chronic obstructive pulmonary disease (COPD), a rise in the elderly population, an increased recognition of respiratory disorders, greater awareness about the advantages of oxygen therapy, and a rise in emergency and trauma situations.

Rapid expansion is anticipated in the oxygen source equipment market size over the next few years, with a projected growth to $5.87 billion in 2029, suggesting a compound annual growth rate (CAGR) of 10.3%. The surge in the forecast period can be ascribed to the escalating demand for portable oxygen concentrators, further enhancement of telehealth-based respiratory care, increasing levels of air pollution, rise in the number of long-term oxygen therapy patients, as well as an expansion in home-based palliative care. Key trends for the projected period encompass the initiation of wearable oxygen delivery devices, the amalgamation of IoT-enabled oxygen monitors, the reduction in size of oxygen concentrators, oxygen generation systems that are energy-efficient, AI-facilitated oxygen flow modification, and live data monitoring for oxygen consumption.

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What Forces Are Driving The Growth Of The Oxygen Source Equipment Industry?

The oxygen source equipment market is set to be propelled forward by the escalating incidence of respiratory diseases. These are medical conditions that impact the lungs and other areas of the respiratory system, causing difficulties in breathing. Increased air pollution and exposure to environmental toxins, which harms lung tissue, diminishes respiratory performance and triggers or worsens conditions like asthma, chronic obstructive pulmonary disease (COPD), and lung cancer, primarily contribute to the growing prevalence of respiratory diseases. Oxygen source equipment finds usage in these issues to supply supplemental oxygen, ensuring sufficient blood oxygen levels when the lungs can’t adequately perform this role. Evidence to this was seen in February 2024 when the UK Health Security Agency, a UK-based government body, stated that England witnessed a 10.7% annual rise in tuberculosis (TB) cases in 2023, with reported cases jumping from 4,380 in 2022 to 4,850. Consequently, the escalating incidence of respiratory diseases is stimulating the growth of the oxygen source equipment market.

What Is The Overview Of Market Segmentation In The Oxygen Source Equipment Industry?

The oxygen source equipment market covered in this report is segmented –

1) By Product Type: Oxygen Cylinders, Oxygen Concentrators, Liquid Oxygen Equipment, Oxygen Systems For Industrial Use, Portable Oxygen Systems

2) By Delivery Mode: Gas Delivery Systems, Cryogenic Liquid Delivery Systems, Portable Delivery Systems, Pipeline Delivery Systems, Bulk Oxygen Supply Systems

3) By Application: Hospital, Clinic, Other Applications

4) By End-User: Healthcare And Medical, Aerospace And Aviation, Industrial Manufacturing, Water Treatment Plants, Energy And Power Generation

Subsegments:

1) By Oxygen Cylinders: Steel Oxygen Cylinders, Aluminum Oxygen Cylinders, Composite Oxygen Cylinders, High-Pressure Oxygen Cylinders, Low-Pressure Oxygen Cylinders

2) By Oxygen Concentrators: Portable Oxygen Concentrators, Stationary Oxygen Concentrators, Continuous Flow Concentrators, Pulse Dose Concentrators

3) By Liquid Oxygen Equipment: Portable Liquid Oxygen Units, Home-Based Reservoir Systems, Hospital-Based Bulk Liquid Oxygen Systems, Mobile Cryogenic Containers

4) By Oxygen Systems For Industrial Use: Pressure Swing Adsorption (PSA) Oxygen Plants, Vacuum Pressure Swing Adsorption (VPSA) Plants, Cryogenic Air Separation Units (ASUs), Membrane-Based Oxygen Generators

5) By Portable Oxygen Systems: Wearable Oxygen Devices, Lightweight Cylindrical Kits, Portable Oxygen Concentrator Kits, Backpack Oxygen Delivery Systems

Which Trends Are Expected To Shape The Future Of The Oxygen Source Equipment Market?

Major corporations that are actively involved in the oxygen source equipment market are shifting their focus towards the creation of novel products like portable oxygen concentrators. These products are designed to increase the mobility of patients, improve their overall quality of life, and satisfy the rising need for respiratory care solutions that can be used at home or during travel. Portable Oxygen concentrators are small medical gadgets that concentrate oxygen from surrounding air, enabling patients with respiratory ailments to receive oxygen therapy on the go. For instance, a US-based medical technology firm, Inogen, introduced a lightweight portable oxygen concentrator known as the Rove 4 in October 2024. Weighing less than 3 lbs, the device features four flow settings, and can deliver up to 840 ml/min of medical-grade oxygen. The Rove 4 comes with three battery options, offering an runtime of up to 5 hours and 45 minutes. Its design facilitates patient mobility and everyday tasks.

Who Are The Primary Players Operating Across The Global Oxygen Source Equipment Market?

Major companies operating in the oxygen source equipment market are Medtronic plc, Air Liquide Healthcare, Koninklijke Philips N.V., GCE Healthcare, Teijin Limited, ResMed Inc., Fisher & Paykel Healthcare, Invacare Corporation, Contec Medical Systems, Inogen Inc., Drive DeVilbiss Healthcare, CAIRE Inc. (Chart Industries), Precision Medical Inc., OxyGo LLC, O2 Concepts LLC, Longfian Scitech Co. Ltd., Nidek Medical Products, Besco Medical Limited, Scaleo Medical SAS, Oxus Inc.

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Which Region Offers The Most Growth Potential For The Oxygen Source Equipment Market Through 2029?

North America was the largest region in the oxygen source equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oxygen source equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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