GLOBAL OXYGEN THERAPY FOR CHRONIC OBSTRUCTIVE PULMONARY DISEASE DISORDERS MARKET SIZE (2023 - 2030)

The oxygen therapy for chronic obstructive pulmonary disease disorders (COPD) market can grow by USD 5.63 billion during 2023 - 2030, and the market’s growth rate will accelerate at a CAGR of 5.68%.  

Market Overview: 

Chronic Obstructive Pulmonary Disorder is a common, treatable, and preventable disease caused by the persistent respiratory system and restricted airflow due to airway and/or alveolar abnormalities generally caused by extended exposure to harmful particles or gases. 

In the U.S. Chronic Obstructive Pulmonary Disorder encompasses two main conditions – Emphysema and Chronic Bronchitis. In Emphysema, the walls between the air sacs are damaged so they lose their shape and become floppy. This reduces the amount of air exchange in the lungs. The main cause of COPD is exposure to tobacco smoke, allergens such as pollen, ragweed, or animal dander, irritants in the air such as chemical fumes, or smoke, and severe weather conditions. Other factors such as indoor air pollution (such as fuel used for heating and cooking), outdoor air pollution, occupational dust and chemicals (such as irritants, vapors, and fumes), and frequent respiratory infections during childhood are also driving the global oxygen therapy for chronic obstructive pulmonary disorder market. Key players operating in the global market are aiming on introducing innovative and technologically enhanced products to create lucrative opportunity streams. A rise in the adoption of digital inhalers and triple oxygen therapy treatment options is estimated to create increasing opportunities for manufacturers in the market during the forecast period. 

COVID-19 Impact on Oxygen Therapy for Chronic Obstructive Pulmonary Disorders Market: 

The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has stretched out around the globe at a very rapid pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-hit countries in terms of the number of positive cases and reported deaths. The COVID-19 outbreak has severely affected economies and industries in various countries due to lockdowns and business shutdowns. The global healthcare and pharmacy industry are the major industries that faced serious disruptions such as supply chain breaks, technology events, and office shutdowns as a result of this outbreak. It hampered the overall growth in three main ways: by affecting production and demand, its financial impact on the manufacturing industry, by supply-chain disruptions. The prevalence of chronic respiratory diseases, especially bronchial asthma and chronic obstructive pulmonary disease (COPD) worldwide has increased substantially over the past few years. Both are also categorized as risk factors for severity and poor outcome of COVID-19 disease. Also, due to shutdowns and the restrictive lifestyle that followed the lockdown, the body’s rhythm got disrupted by reduced physical activity, poor sleeping patterns, unhealthy eating habits, and stress. The overall market shutdown due to COVID-19 is also affecting the growth due to the shutting down of factories, disruptions in the supply chain, and a downturn in the world economy. 

Market Drivers: 

Growing awareness regarding respiratory and pulmonary diseases is augmenting the market growth: 

Growing awareness and increase in literacy rates in several developing and under-developed countries impact the rural population to aim more on one’s health, cleanliness, lifestyle, and overall well-being. Additionally, the coronavirus crisis prompted the demand decisions of modern consumers fostering the market size for Oxygen therapy and other COPD-related therapies. 

Increasing urbanization along with the disposable income among the middle-class population is bolstering the market growth: 

With a rise in the population, rapidly increasing urbanization, improvement in standards of living, and growing disposable income among the middle-class population, people are understanding the importance of regular health check-ups which has led to an increase in the demand for various drugs, therapies, and diagnoses of COPD-related disorders. Owing to its high demand in the healthcare industry, it is widely available in different price ranges, making it highly affordable among consumers. Therefore, increasing health awareness and the affordable price range of these products together augment the market increasing the demand for Oxygen therapy for COPD across the world. 

Surging investments in the healthcare industry are fostering the market: 

The rising investments in the healthcare industry are helping in improving its infrastructure along with government organizations implementing several strategies and initiatives to improve the status of healthcare worldwide. 

Growing demand for R&D and new technology in the Pharmaceutical Industry is boosting the market growth: 

Private capital investment and spending on pharmaceutical R&D and the approval and launch of new therapies and drugs have both increased remarkably in recent years, renewing a decades-long trend that was disrupted in 2008 as the 2007–2009 recession occurred. Particularly, spending on Research and Development in the field elevated by nearly 65% between 2017 and 2020. Many of the drugs and therapies approved recently are high-priced for relatively small numbers of potential patients. Therefore, increased competition and constant innovations in the pharmacy industry are escalating the Oxygen Therapy for COPD market. 

Government initiatives and collaborations with NGOs are promoting the demand for Oxygen Therapy in the market: 

Governments across the world are progressively promoting health awareness campaigns in collaboration with different NGOs to extend the significance of regular check-ups and adoption of healthy lifestyle habits, specifically across rural populations, increasing the market size. 

Market Restraints: 

Patent expiration resulting in hindrance to the market growth: 

Driven by an aging population and an increasing number of patent expirations, the global Oxygen Therapy for COPD market is facing declining profit margins. The key patents of multi-billion-dollar brands are set to expire within the next few years. The loss of over 300,000 pharmaceutical jobs over the past few years has been mainly driven by the predicted loss of revenue from drugs that will lose patent protection by 2025. Along the trends of the past several years, the next five years are likely to reflect a huge imbalance between new product introductions and patent losses. This is the major factor limiting global Oxygen Therapy for COPD market growth 

GLOBAL OXYGEN THERAPY FOR CHRONIC OBSTRUCTIVE PULMONARY DISEASE DISORDERS MARKET REPORT COVERAGE:

This research report on the Oxygen Therapy for COPD Market has been segmented and sub-segmented based on Product, Application, End-Use, Region, and Key Companies. 

Oxygen Therapy for COPD Market – By Product. 

• Oxygen Source Equipment 

• Oxygen Cylinders 

• Fixed 
• Portable 

• Oxygen Fixed  

• Portable 

• Liquid Oxygen Devices 
• PAP Devices 

• CPAP 
• APAP 
• Bi-PAP 

• Oxygen Delivery Devices 

• Oxygen Masks 
• Nasal Cannula 
• Venturi Masks 
• Non-rebreather Masks 
• Bag Valve Masks 
• CPAP Masks 
• Others 

Based on the products, Oxygen Therapy for the COPD market is segmented into 2 main categories – Oxygen Source Equipment and Oxygen Delivery Devices.  

Oxygen source equipment accounts for the majority share of over 60.0% in 2021, due to its high availability and utilization of O2 concentrators, compressed systems and cylinders, and liquid oxygen. These devices are the primary source of Oxygen therapy and a key factor contributing to the overall growth of the industry. Oxygen concentrators in the oxygen source equipment segment are estimated to project a lucrative growth rate. The portable concentrators are also anticipated to present remarkable growth potential due to their applicability in various healthcare emergencies, and usage in ambulances, rails, and aircraft. 

Additionally, the innovation of the technologically evolved oxygen source and delivery devices, which offer efficient patient care, is likely to boost the industry’s growth. The growing popularity and adoption of on-demand Portable Oxygen Concentrators (POC) in a range of applications such as emergency medicine are also predicted to propel the demand over the forecast years. This rise is attributed to global competitors entering the market, demand for technology by consumers, and the medical urgency for greater mobility support for the older population. The oxygen masks segment is anticipated to grow at a steady growth rate as a result of these masks being an integral part of the Oxygen delivery system, resulting in their increased consumption, thereby contributing to the market growth over the coming few years. In addition, these devices enable accurate Oxygen concentration delivery, maintained flow and pressure, and patient comfort, which is likely to increase the segment demand. 

Oxygen Therapy for COPD Market – By End-Use. 

• Home Healthcare 

• Hospitals and Clinics 

• Ambulatory and Surgical Centres 

Based on their end-use, Oxygen Therapy for the COPD market is segmented into 3 main categories – Home Healthcare, Hospitals and Clinics, and Ambulatory and Surgical Centres.  

The home healthcare segment holds the majority share of over 60.0% in 2021 and is anticipated to grow at a steady rate. The increasing incorporation of Oxygen Therapy devices in home settings is predicted to boost the market.  

The hospitals and clinics segment is estimated to grow at a steady rate over the outlook period due to the usage of oxygen therapy equipment and other associated devices in hospitals and clinical healthcare facilities. Furthermore, hospital settings provide a wide range of facilities with a controlled environment, which is anticipated to fuel the preference of patients with severe disorders, thereby boosting the growth of this segment. 

Oxygen Therapy for COPD Market – By Region. 

• North America 

• Europe 

• Asia-Pacific 

• South America 

• Middle-East and Africa 

Based on the region, Oxygen Therapy for the COPD market is segmented into 5 main regions – North America, Europe, Asia-Pacific, South America, Middle-East, and Africa.  

North America dominates the market in 2021 with a majority of the revenue share of over 30.0% due to the high R&D investments in the region. Also, the increasing popularity of various Oxygen Therapies in this region is contributing to the market demand. Moreover, the increase in urbanization and occupational hazards in this region also lead to a high risk of respiratory disorders, which is predicted to augment the market growth. 

The Asia-Pacific is estimated to project exponential growth during the forecast period. The market is augmented by high R&D investment by the key global players and increasing commercialization of Oxygen therapy for COPD equipment. The constant technological advancements and innovations along with the rising collaboration of key players and their diversification of distribution networks are fuelling the growth of Oxygen therapy for COPD in this region. 

Oxygen Therapy for COPD Market – By Companies. 

1. GE Healthcare 

2. Invacare Corporation 

3. Inogen 

4. IUC Medical (Smiths Medical) 

5. HERSILL S.L. 

6. Fisher & Paykel Healthcare Limited 

7. Philips Respironics, Inc. 

8. DeVilbiss Healthcare 

9. Tecno-Gaz Industries 

10. Allied Healthcare Products, Inc. 

11. Teleflex Incorporated 

12. Chart Industries 

13. ResMedDrägerwerk AG & Co. KGaALinde 

14. CAIRE 

The competition is exceptionally fierce among key players in the market owing to the rise in demand for oxygen therapy along with the growing prevalence of oxygen therapy for COPD. It is anticipated to favour the new entrants due to the rising awareness, technological enhancements, and acceptance of these therapies. Further, companies are enlarging their products and portfolios and scaling their reach in the form of mergers, acquisitions, and collaborations to increase their share in the market. These factors are estimated to help in creating a robust product portfolio and will help in gaining more lucrative opportunities in the market.