Global Oxygen Therapy Devices Market Outlook
Revenue, 2024
$5.3B
Forecast, 2034
$10.5B
CAGR, 2025 - 2034
7.1%
The Oxygen Therapy Devices industry revenue is expected to be around $5.7 billion in 2025 and expected to showcase growth with 7.1% CAGR between 2025 and 2034. The extensive influence of these medical devices is widespread in public health services and plays a crucial role, in managing a variety of long term and short term health conditions.
Medical professionals use Oxygen Therapy Devices to deliver oxygen to patients with issues like chronic obstructive pulmonary disease (COPD) asthma or pneumonia as well as during surgeries when oxygen levels may be low. A growing trend, in this field is the creation of Oxygen Therapy Devices that provide both convenience and enhanced treatment outcomes.
Market Key Insights
- The Oxygen Therapy Devices market is projected to grow from $5.3 billion in 2024 to $10.5 billion in 2034. This represents a CAGR of 7.1%, reflecting rising demand across Home Healthcare Equipment, Emergency Medical Services and Clinical.
- Philips Healthcare, Invacare Corporation, Drive DeVilbiss Healthcare are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Oxygen Therapy Devices market and are expected to observe the growth CAGR of 4.6% to 6.8% between 2024 and 2030.
- Emerging markets including India, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 8.2% to 9.8%.
- Transition like Transition - Shift towards Portable Oxygen Therapy Devices has greater influence in United States and Germany market's value chain; and is expected to add $254 million of additional value to Oxygen Therapy Devices industry revenue by 2030.
- The Oxygen Therapy Devices market is set to add $5.2 billion between 2024 and 2034, with manufacturer targeting Asthma & Sleep Apnea Application projected to gain a larger market share.
- With Rise in chronic respiratory diseases, and Technological advancements in oxygen therapy devices, Oxygen Therapy Devices market to expand 99% between 2024 and 2034.
Opportunities in the Oxygen Therapy Devices
Opportunities for expanding the market for oxygen therapy devices also exist in developing countries where there is a focus on enhancing healthcare infrastructure and addressing the increasing rates of illnesses alongside raising awareness, about respiratory health care needs.
Growth Opportunities in North America and Europe
North America currently holds the spot in the worldwide market for Oxygen Therapy Devices due to the significant occurrence of chronic obstructive pulmonary disease advancements in respiratory care technology and strong healthcare facilities infrastructure driving its growth trajectory. A rising awareness regarding the advantages of Oxygen Therapy Devices is also playing a part in boosting market expansion within the region. The competitive scenario here features players, like Invacare Corporation and Philips Healthcare who are introducing cutting edge solutions tailored to meet the needs of both healthcare professionals and patients. In addition to that point, about the regions potential lies in advancing and marketing oxygen concentrators. These devices are becoming more popular because of their convenience and user friendly nature.
Europe represents a market for Oxygen Therapy Devices due to an increase in respiratory disorders and an aging population with well established healthcare systems driving the demand in the regions market landscape where competition is intensifying among various local and international companies, like Linde Healthcare and ResMed striving to enhance their product offerings and solidify their market presence. In Europe's market expansion opportunities lie in the rising demand for home healthcare gadgets. This growth is fueled by the populations growing favor, towards home based oxygen therapy.
Market Dynamics and Supply Chain
01
Driver: Rise in Chronic Respiratory Diseases, and Surge in Aging Population and Lifestyle Disorders
The global market for oxygen therapy devices is also experiencing growth due to the rising number of people affected by chronic obstructive pulmonary disease asthma and other respiratory illnesses that require the use of such devices for treatment purposes. Additionally increased awareness, about the advantages of these devices is also expected to contribute to market expansion. The increasing number of individuals worldwide alongside a rise in health issues related to lifestyle choices like obesity and sleep disorders plays a key role in driving the market forward significantly. As people age and face lifestyle related conditions that impact lung health and may also result in respiratory illnesses developing over time the need for oxygen therapy tools is also anticipated to skyrocket. This trend is also predicted to boost the expansion of the market, for oxygen therapy devices.
The market is also experiencing growth due to progress like incorporating smart technologies and creating portable oxygen therapy gadgets that improve the effectiveness and convenience of treatment, for patients.
02
Restraint: Regulatory Hurdles
In the medical equipment sector specifically strict regulations and adherence requirements pose a challenge. Manufacturers of Oxygen Therapy Devices must adhere to regulations and norms which may hinder the rapid introduction of new and creative products into the market. They must guarantee that their products meet safety standards, efficacy requirements and quality criteria. This frequently leads to prolonged development phases before these products are ready, for market release and revenue generation. The obstacles posed by regulations can greatly hinder the expansion of the market, for Oxygen Therapy Devices.
03
Opportunity: Expanding Applications in Sleep Studies and Untapped Potential of Telemedicine
Sleep problems like sleep apnea can lead to lower oxygen levels, in the body making it difficult to breathe well during sleep time Oxygen therapy devices have great potential in this area They can aid in better sleep quality and duration reduce daytime tiredness and promote overall health of the patient
Advancements in healthcare technology and the growing embrace of telemedicine create an opportunity to combine oxygen therapy devices with patient monitoring systems for improved patient care outcomes and enhanced disease management through real time data collection, on oxygen usage and patient condition.
04
Challenge: High Costs
The market growth of Oxygen Therapy Devices faces an obstacle due to the expensive nature of these devices. The use of technology and high quality materials in their production tends to drive up the overall cost of the product. This ultimately results in prices, for end users. Not all consumers or healthcare facilities have the means to purchase these devices specially in developing and underdeveloped nations.
Supply Chain Landscape
1
Raw Material Procurement
Acrylic master Co.Umicore Group
2
Component Manufacturing
Phillips RespironicsResMed
3
Device Assembly
Fisher & Paykel HealthcareInogen
4
Distribution & Sales
Invacare CorporationDeVilbiss Healthcare. Extraction and Refining Processes are significantly influencing the production of Oxygen Therapy Devices. Companies that dominate this sector include renowned manufacturers like Acrylic Master Co. and Umicore Group. In the Component Manufacturing stageinnovative advancements are being made by industry giants such as Phillips Respironics and ResMed. They are key players instrumental
1
Raw Material Procurement
Acrylic master Co.Umicore Group
2
Component Manufacturing
Phillips RespironicsResMed
3
Device Assembly
Fisher & Paykel HealthcareInogen
4
Distribution & Sales
Invacare CorporationDeVilbiss Healthcare. Extraction and Refining Processes are significantly influencing the production of Oxygen Therapy Devices. Companies that dominate this sector include renowned manufacturers like Acrylic Master Co. and Umicore Group. In the Component Manufacturing stageinnovative advancements are being made by industry giants such as Phillips Respironics and ResMed. They are key players instrumental
Use Cases of Oxygen Therapy Devices in Home Healthcare Equipment & Emergency Medical Services
Home Healthcare Equipment : Oxygen therapy devices are often used in home healthcare settings. Portable oxygen concentrators and oxygen cylinders are usually preferred for their convenience, being easy to use and transport. These devices help patients with chronic respiratory diseases maintain adequate oxygen levels, thereby improving their quality of life. Major players in this segment include Philips Respironics and Invacare.
Emergency Medical Services : Emergency medical services rely heavily upon oxygen therapy equipment with high flow oxygen devices and ventilators being utilized tools in such situations for reviving patients and supporting individuals experiencing significant respiratory challenges. The primary players in this field are known companies, like ResMed and Fisher & Paykel Healthcare.
Clinical : In environments like hospitals and rehabilitation facilities oxygen therapy equipment is vital for patients recovering from surgeries dealing with respiratory illnesses or taking part in physical therapy. Used stationary oxygen concentrators help maintain oxygen levels. Leading suppliers of devices, for clinical use are DeVilbliss Healthcare and AirSep Corporation.
Recent Developments
The demand for Oxygen Therapy Devices worldwide has been on the rise in response to the changing healthcare landscape due to factors like an aging population and the increasing incidence of conditions globally. The impact of the COVID 19 outbreak has further underscored the importance of these devices, in acute care environments.
December 2024 : ResMed Corporation has introduced its line of cutting edge portable Oxygen Therapy Devices that integrate IoT technology to enable smooth monitoring of patients.
November 2024 : Philips Healthcare has introduced a portable oxygen concentrator with a longer lasting rechargeable power source that demonstrates their commitment to advancing innovation, in Oxygen Therapy Devices.
October 2024 : Medtronic has revealed a collaboration with Invacare to enhance the manufacturing and distribution of Oxygen Therapy Devices. This partnership showcases a synergy, in the market.
Impact of Industry Transitions on the Oxygen Therapy Devices Market
As a core segment of the Medical Device industry,
the Oxygen Therapy Devices market develops in line with broader industry shifts.
Over recent years, transitions such as Transition - Shift towards Portable Oxygen Therapy Devices and Transition - Increasing Emphasis on Advanced Technology have redefined priorities
across the Medical Device sector,
influencing how the Oxygen Therapy Devices market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Transition - Shift towards Portable Oxygen Therapy Devices
The global Oxygen Therapy Devices market is changing rapidly as more people are opting for devices that are lightweight and easy to use for oxygen therapy on the go. They offer flexibility and freedom to move around while receiving oxygen therapy. Have become popular in homecare settings for patients, with chronic respiratory conditions. This progress showcases theindustry'semphasis on enhancing the convenience and accessibility of therapy for patients to stimulate market expansion. This trend towards portability is evident, in the consumer electronics sector well; laptops and smartphones have largely supplanted conventional desktop computers. This industry transition is expected to add $254 million in the industry revenue between 2024 and 2030.
02
Transition - Increasing Emphasis on Advanced Technology
One significant change shaping the Oxygen Therapy Devices industry is the increased emphasis placed upon incorporating cutting edge technology into the devices. Manufacturers are continuously striving to utilize the recent technological advancements in order to create Oxygen Therapy Devices that ensure better functionality, effectiveness and dependability. For instance the rollout of devices equipped with built in sensors enables prompt and precise adjustments, to oxygen supply levels