Global Oxygen Therapy Market Expected to Reach USD 34.4 Billion by 2033 - IMARC Group

Global Oxygen Therapy Market Statistics, Outlook and Regional Analysis 2025-2033

The global oxygen therapy market size was valued at USD 20.2 Billion in 2024, and it is expected to reach USD 34.4 Billion by 2033, exhibiting a growth rate (CAGR) of 6.05% from 2025 to 2033.

The major driving force of the market is the growing prevalence of respiratory diseases, including COPD, obstructive sleep apnea, and asthma. Increasing air pollution levels and smoking across the globe have worsened the condition of the respiratory system, thereby increasing the need for oxygen therapy solutions. A World Health Organization (WHO) estimate in 2024 has reported that chronic obstructive lung disease annually kills 3,000,000 and affects more than 380 million people globally. Another factor contributing to the market growth is the aging population, which is more susceptible to cardiovascular and respiratory conditions. An increased awareness of the benefits of the early intervention for chronic conditions has also supported the adoption of home oxygen therapy equipment. These factors are driving the oxygen therapy market growth further across the world.

Significant market trends are the innovations in technology, which have focused on improving patient comfort and the effectiveness of the treatment. The devices, for example, portable and lightweight oxygen concentrators with smart connectivity features, allow real-time monitoring and enhance user convenience. For example, Oxymed in September 2024 launched P2 Portable Oxygen Concentrator - the smallest and lightest in India, weighing only 1.98 KG. The device is designed specifically for people with breathing problems. It delivers oxygen purity of between 90 to 95% and can run on a battery for up to 10 hours. The market is also shifting toward non-invasive oxygen delivery systems primarily due to the increasing demand for less invasive solutions. The pandemic underlined the utmost importance of oxygen therapy hastening investments in infrastructure as well as advanced devices. The ecofriendly oxygen concentrators, specially designed to reduce energy consumption, are in line with global sustainability goals. The strengtheners scored the emerging landscape of oxygen therapy, fulfilling both clinical and lifestyle needs.

Global Oxygen Therapy Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share due to advanced healthcare infrastructure, high prevalence of respiratory diseases, increased adoption of innovative medical technologies, and strong investment in research and development initiatives.

North America Oxygen Therapy Market Trends:

In the North American region, the market is growing at a phenomenal rate mainly due to patient demand for mobility and convenience. In October 2024, Inogen launched the Rove 4 portable oxygen concentrator in the United States. The product weighs less than 3 lbs and contains an additional fourth flow setting and can run for five hours forty-five minutes. The device is particularly designed to improve the mobility of patients and to increase the efficiency of oxygen delivery. Technological advancements such as the advent of devices that have real-time monitoring and connectivity features are enhancing the outcomes of treatment.

Asia-Pacific Oxygen Therapy Market Trends:

In the Asia Pacific region, the market is driven by the rising respiratory disease cases along with the increase in healthcare investments and growing awareness of home-based treatments. Affordable portable oxygen concentrators and non-invasive devices are gaining popularity across the region. Rapid urbanization and air pollution are elevating the demand for respiratory care solutions. Governments and private sectors in Asia Pacific region are mainly focusing on improving access to oxygen therapy and rural areas. Technological advancements and local manufacturing initiatives are reducing costs and enhancing the overall market growth in Asia Pacific.

Europe Oxygen Therapy Market Trends:

In Europe, the oxygen therapy market is witnessing significant growth mainly due to rising chronic respiratory diseases and the growing senior population. Advancements in portable oxygen equipment are improving patient mobility and ease of use. The growing focus on home health care options and non-invasive treatments further enhances the adoption of oxygen therapy. Stringent regulatory standards and efforts to promote environmentally friendly medical devices are influencing the market environment thereby fostering sustainable and effective oxygen therapy technologies.

Latin America Oxygen Therapy Market Trends:

The rising cases of chronic respiratory diseases and enhanced awareness regarding advanced treatment technologies are accelerating the growth of the market in the Latin American region. The factors influencing market expansion include government policies for the advancement of medical infrastructure, increasing application of portable oxygen concentrators, and easy access to healthcare facilities in the under-served regions. Increasing investments in home healthcare and telemedicine are promoting the use of oxygen therapy as patients increasingly seek easily accessible and reasonably priced treatment options.

Middle East and Africa Oxygen Therapy Market Trends:

The oxygen therapy market is growing significantly in the Middle East and African region due to increased investments in healthcare, increased awareness of respiratory issues, and easier access to advanced medical equipment. Government efforts to improve health facilities and overcome oxygen shortages mainly after COVID-19 are also major growth drivers of the market. Utilization of affordable and portable oxygen concentrators with an emphasis on local production to meet regional needs is driving the market dynamics in the region.

Top Companies Leading in the Oxygen Therapy Industry

Some of the leading oxygen therapy market companies include Allied Healthcare Products Inc., Becton Dickinson and Company, DeVilbiss Healthcare LLC (Drive Medical Inc.), General Electric Company, Fisher & Paykel Healthcare Limited, Getinge AB, Hersill SL, Koninklijke Philips N.V, Smiths Group plc, Tecno-Gaz S.p.A., Teleflex Incorporated, and Invacare Corporation, among many others. For instance, in October 2024, Drive DeVilbiss Healthcare introduced the PulmO2 Oxygen Concentrator which aims to improve the availability of oxygen therapy in low- and middle-income nations.

Global Oxygen Therapy Market Segmentation Coverage

• Based on the product, the market has been segmented into oxygen source equipment (oxygen cylinders, oxygen concentrators, liquid oxygen devices, and PAP devices) and oxygen delivery devices (oxygen masks, nasal cannula, venturi masks, non-rebreather masks, bag valve masks, CPAP masks, and others), where oxygen source equipment is the leading segment. Oxygen source equipment has a major share in the oxygen therapy market because it provides a consistent supply of oxygen for therapeutic needs. The growing number of chronic respiratory conditions further strengthens the demand for these critical devices across the globe.
• The market is categorized into chronic obstructive pulmonary disease, asthma, obstructive sleep apnea, respiratory distress syndrome, cystic fibrosis, pneumonia, and others based on the application. Amongst these, chronic obstructive pulmonary disease dominates the market. Chronic obstructive pulmonary disease is the leading application segment in the oxygen therapy market because of the growing global burden of the disease. Patients suffering from COPD require oxygen therapy to reduce their symptoms, enhance lung functionality, and increase the overall quality of life. Rising air pollution, tobacco use, and an aging population are contributing to a higher incidence of COPD. For this reason, healthcare professionals are emphasizing oxygen therapy as a crucial treatment that drives market expansion in both clinic and homecare settings.
• The market has been divided into home healthcare and hospitals on the basis of end use. Among these, home healthcare accounts for the majority of the market share. Home healthcare leads the oxygen therapy market as patients increasingly prefer at home treatment for chronic respiratory illnesses. This trend is fueled by advancements in portable oxygen devices, which enable greater mobility and convenience. Cost-effectiveness and reduced dependency on hospital visits further enhance the appeal of home care. Supportive government policies and growing awareness about at-home therapy benefits are driving demand, making it the dominant segment in the market.