Oxygen Therapy is big business and growing

September 12, 2024 by Robert

The global oxygen therapy market has been trending upward for several years. And it is showing no indication of slowing down.

Below is an excerpt of an article showing how this market is going to increase over the next decade:

The global oxygen therapy market is expected to reach USD 18.2 billion by 2024, according to a new study by Grand View Research, Inc. The increasing prevalence of major respiratory diseases, such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and obstructive sleep apnea, is a high impact rendering driver of oxygen therapy market.

As per the estimates of the WHO, a consequential global rise in the prevalence of asthma and other respiratory disorders, is expected to heightened clinical urgency to treat the aforementioned disorders and is expected to boost the demand for oxygen therapy as the first line treatment and as a supplement in various applications.

Technology Advancements

Moreover, technological advancements are anticipated to provide growth platforms in a wide range of new applications such as cancer and diabetes; for instance, incorporation of flow sensors in delivery devices to conserve and regulate the flow enabling greater patient comfort and outcomes.

Furthermore, the increasing focus on home healthcare solutions coupled with the development of portable delivery devices has a major impact on the oxygen therapy market. These aforementioned factors are expected to serve as key contributing factors towards the growth of the oxygen therapy market over the forecast period.

— PRNewswire

More Reports

Finally, another report, Oxygen Therapy Market Size, Share & Trends Analysis Report. It has this to say about the growth of this market.

The global oxygen therapy market size was valued at USD 16.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.4% from 2022 to 2030. The increasing incidence of chronic respiratory diseases and the rising demand for home healthcare are among the major growth drivers. According to the National Institutes of Health (NIH), nearly 12 million adults have been diagnosed with COPD in the U.S. and 120,000 people die each year. According to the data published by the Global Asthma Network (GAN), asthma affects nearly 334 million people worldwide. The increasing patient population is expected to boost the demand for these products, thereby driving the industry in the coming years.

Yes, the therapy market is on the rise. And also, sales of therapy equipment are also increasing.

Oxygen Therapy Device Market to Reach USD 18 Billion by 2028
North America held the largest market share in 2021 owing to increased research and development trials in the region coupled with the growing prevalence of various types of respiratory disorders amidst the region. However, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. Recently, certain Asian countries, such as India and Japan-China, are seeing positive changes in the OTD market after the COVID-19 pandemic, which is a major driving force in the growth of the market.

OxygenSuperCharger™ is an inexpensive way to supplement the available oxygen in the bloodstream. OxygenSuperCharger™ can also boost oxygen to your red blood cells when used as directed. Used as a supplement, it is a complementary addition to the health routine of many. Our product is not a replacement for hyperbaric oxygen therapy treatment.

Summary