Oxygen Therapy Equipment Market Analysis, Size, Share, Trends, Demand, Overview and Segment Forecast To 2029

Oxygen Therapy Equipment Market Overview:

The global oxygen therapy equipment market is projected to grow at a CAGR of approximately 6–7% over the next five years. Market expansion is primarily driven by the rising prevalence of respiratory disorders, continuous technological advancements in oxygen therapy devices, a rapidly growing geriatric population, increasing preference for home-based healthcare, and improved awareness and diagnostic capabilities for early detection and treatment of respiratory conditions. However, market growth may be constrained by the high cost of advanced oxygen therapy equipment, stringent regulatory and compliance requirements, limited reimbursement coverage, and technical complications associated with oxygen therapy devices.

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Oxygen therapy equipment comprises medical devices used to deliver supplemental oxygen to patients with respiratory disorders or low blood oxygen levels. These include oxygen source equipment such as oxygen cylinders, oxygen concentrators, liquid oxygen systems, positive airway pressure (PAP) devices, and related accessories including nasal cannulas and oxygen masks. The selection of equipment depends on the patient’s clinical condition, lifestyle, and activity level, with proper patient education and monitoring being essential for effective therapy outcomes.

Rising Prevalence of Respiratory Diseases Driving Market Growth

The increasing incidence of respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, and pulmonary fibrosis is a major driver of market growth. Factors including air pollution, smoking, and aging populations have contributed significantly to the rising burden of these diseases. Patients suffering from chronic respiratory disorders often require long-term oxygen therapy to maintain adequate blood oxygen saturation. According to the World Health Organization (WHO), COPD is the third leading cause of death globally, accounting for 3.23 million deaths in 2019. In the same year, cardiovascular diseases caused approximately 17.9 million deaths worldwide, representing 32% of total global mortality. As the prevalence of respiratory illnesses continues to rise due to demographic and environmental factors, demand for oxygen therapy equipment is expected to increase steadily.

As noted by a pulmonologist from a leading academic medical center in the United States, “Oxygen therapy has expanded beyond inpatient care into outpatient settings, with patients suffering from chronic pulmonary diseases and hypoxemia requiring continuous oxygen support. Conditions such as COPD, pulmonary fibrosis, and cystic fibrosis frequently necessitate supplemental oxygen to maintain normal organ function.”

Growing Geriatric Population Supporting Market Expansion

The expanding global geriatric population is another key factor fueling market growth. Aging is often associated with declining lung function, making older adults more vulnerable to chronic respiratory conditions such as COPD, asthma, and pneumonia. These conditions frequently require long-term oxygen therapy for symptom management and oxygen level stabilization. Elderly individuals also tend to develop multiple comorbidities that exacerbate respiratory dysfunction, further increasing reliance on oxygen therapy equipment.

This demographic trend is especially prominent in developed economies, where increased life expectancy and advanced healthcare systems have led to a growing elderly population. Moreover, older adults increasingly prefer home-based care solutions that allow them to maintain independence and quality of life. Portable oxygen concentrators and home oxygen therapy systems address this need by offering reliable and convenient oxygen delivery, while also reducing hospital admissions and healthcare costs. The convergence of aging populations and rising respiratory disease prevalence is expected to sustain long-term demand for oxygen therapy equipment.

Technological Advancements Driving Market Innovation

The oxygen therapy equipment market is highly technology-driven, with continuous innovation shaping product development. Manufacturers are increasingly focusing on portability, efficiency, and patient comfort. Recent product launches highlight this trend:

• In July 2023, VARON introduced the VP-2 portable oxygen concentrator, featuring advanced technology designed to deliver efficient and reliable oxygen therapy for mobile patients.
• In July 2022, OMRON Healthcare launched the OxyHome 5L stationary oxygen concentrator, capable of delivering continuous oxygen flow of up to 5 liters per minute for home use.
• In April 2019, Inogen, Inc. launched the Inogen One G5, a lightweight portable oxygen concentrator offering high oxygen output, extended battery life, quiet operation, and patient-centric design.

United States as a Key Growth Market

The United States is expected to remain a major growth engine for the oxygen therapy equipment market. The country benefits from a robust healthcare infrastructure and a high adoption rate of advanced medical technologies. A significant prevalence of chronic respiratory conditions, including COPD and asthma, further supports market growth. According to the Centers for Disease Control and Prevention (CDC), approximately 14.2 million U.S. adults (6.5%) were diagnosed with COPD in 2021. In addition, increasing demand for home-based oxygen therapy, rising adoption of portable oxygen concentrators, favorable reimbursement frameworks, and high healthcare expenditure are collectively driving market expansion in the U.S.

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Product Type Segment Analysis

In 2022, the oxygen source equipment segment dominated the market due to extensive use of oxygen concentrators, compressed gas systems, cylinders, and liquid oxygen solutions. Portable oxygen concentrators are anticipated to witness significant growth owing to their widespread use in emergency medical services, ambulances, and home healthcare. Technological improvements in oxygen flow regulators, sensors, and delivery mechanisms are further enhancing product adoption. Growing mobility requirements among geriatric patients and emergency care providers are also contributing to the increased demand for portable oxygen systems.

The oxygen delivery devices segment is expected to grow steadily, supported by the availability of a wide range of delivery options tailored to diverse patient needs. Oxygen masks, in particular, are projected to experience consistent demand due to their essential role in effective oxygen administration.

Application Segment Analysis

Based on application, the market includes COPD, asthma, obstructive sleep apnea, respiratory distress syndrome, and other indications. The COPD segment is expected to dominate the market due to the high and increasing global prevalence of the disease, which affects approximately 65 million individuals worldwide and remains a leading cause of mortality. Asthma is projected to hold the second-largest market share, supported by evolving oxygen treatment approaches. The obstructive sleep apnea segment is anticipated to grow rapidly, driven by the use of nocturnal oxygen therapy and supplemental oxygen in conjunction with CPAP devices. Meanwhile, the respiratory distress syndrome segment is expected to register moderate growth due to rising incidence in premature births and the need for effective therapeutic interventions.

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Market Strategies and Competitive Landscape

Market participants are increasingly adopting both organic and inorganic growth strategies, including product launches, partnerships, and acquisitions, to strengthen their market presence. Notable developments include:

• In March 2024, Drive DeVilbiss Healthcare Sanrai International launched PulmO2 10L, a next-generation oxygen concentrator designed to deliver life-saving oxygen, particularly in low-resource settings.
• In July 2023, Inogen, Inc. acquired Physio-Assist SAS to expand its respiratory care portfolio with the Simeox airway clearance device.
• In January 2023, CAIRE Inc. acquired MGC Diagnostics Holdings, Inc. to enhance its diagnostic capabilities and strengthen its pulmonary disease portfolio.

The competitive landscape features established players such as Koninklijke Philips N.V., GE Healthcare, Fisher & Paykel Healthcare, Invacare Corporation, ResMed, Teleflex Incorporated, Linde plc, Drägerwerk AG & Co. KGaA, Hersill, and Inogen, Inc.

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