The oxygen therapy equipment market plays a vital role in modern healthcare by supporting patients suffering from respiratory disorders, chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, pneumonia, and other conditions that impair normal oxygen intake. Oxygen therapy is widely used across hospitals, homecare settings, emergency services, and long-term care facilities, making it a critical segment within the global medical devices industry.

The oxygen therapy equipment market size is expected to reach US$ 5.6 billion by 2031, expanding at a compound annual growth rate (CAGR) of 6.5% during the period 2025–2031. This steady growth is driven by the increasing prevalence of respiratory diseases, rising geriatric population, growing adoption of home healthcare services, and advancements in oxygen delivery technologies.

One of the key growth drivers of the market is the rising global burden of chronic respiratory disorders. COPD and asthma cases continue to increase due to aging populations, smoking habits, and exposure to air pollution. Oxygen therapy equipment, including oxygen concentrators, liquid oxygen systems, and compressed oxygen cylinders, is essential for managing these conditions and improving patient quality of life. Additionally, the growing awareness of early respiratory care and long-term oxygen therapy is fueling market demand.

Technological innovation is significantly shaping the oxygen therapy equipment market. Manufacturers are focusing on developing portable, lightweight, and energy-efficient oxygen concentrators to support patient mobility and home-based care. Portable oxygen concentrators have gained strong acceptance, especially among elderly patients and individuals requiring continuous oxygen support while maintaining an active lifestyle. Digital monitoring features, improved battery life, and noise reduction technologies are further enhancing product adoption.

The expansion of home healthcare is another major factor contributing to market growth. Healthcare systems worldwide are increasingly shifting toward cost-effective, patient-centric care models. Oxygen therapy devices designed for home use reduce hospital stays and healthcare costs while offering convenience and comfort to patients. This trend is particularly strong in developed regions, where healthcare infrastructure supports remote patient monitoring and home medical equipment reimbursement.

From a competitive standpoint, the oxygen therapy equipment market is moderately consolidated, with several global and regional players competing through product innovation, geographic expansion, and strategic partnerships. Koninklijke Philips N.V. is a prominent market leader, offering advanced respiratory care and oxygen therapy solutions integrated with digital health technologies. Fisher & Paykel Healthcare Limited is widely recognized for its high-quality respiratory humidification and oxygen delivery systems used in both acute and homecare settings.

Invacare Corporation and Inogen are key players in the home oxygen therapy segment, particularly known for portable oxygen concentrators that support long-term oxygen therapy. Teleflex Incorporated and Smiths Medical, a division of Smiths Group PLC, provide a broad range of respiratory and oxygen delivery products used in hospitals and emergency care environments. Linde Healthcare plays a critical role in supplying medical gases and integrated oxygen solutions, while Sunset Healthcare Solutions Inc. and Care Enterprise Co., Ltd. cater to diverse patient needs with affordable and reliable oxygen therapy accessories and systems.

Regionally, North America holds a significant share of the oxygen therapy equipment market due to high healthcare spending, advanced medical infrastructure, and strong adoption of home healthcare technologies. Europe follows closely, supported by aging populations and government-backed respiratory care programs. Meanwhile, the Asia-Pacific region is expected to witness the fastest growth during the forecast period, driven by rising healthcare awareness, expanding hospital networks, and increasing respiratory disease prevalence.

In conclusion, the oxygen therapy equipment market is poised for sustained growth through 2031. With a projected valuation of US$ 5.6 billion and a CAGR of 6.5%, the market offers strong opportunities for manufacturers focusing on innovation, portability, and homecare solutions. As respiratory health continues to gain global attention, oxygen therapy equipment will remain a cornerstone of effective patient care worldwide.

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