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What Is the Estimated Market Size and CAGR of the Oxygen Source Equipment Market for the Period 2025–2029?
The oxygen source equipment market size has grown rapidly in recent years. It will grow from $3.59 billion in 2024 to $3.97 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to the rising incidence of chronic obstructive pulmonary disease (COPD), the increasing geriatric population, the growing prevalence of respiratory disorders, the increasing awareness of oxygen therapy benefits, and the rise in emergency and trauma cases.
The oxygen source equipment market size is expected to see rapid growth in the next few years. It will grow to $5.87 billion in 2029 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to growing demand for portable oxygen concentrators, expansion of telehealth-based respiratory care, rising air pollution levels, an increase in long-term oxygen therapy patients, and an increase in home-based palliative care. Major trends in the forecast period include the development of wearable oxygen delivery devices, the integration of IoT-enabled oxygen monitors, the miniaturization of oxygen concentrators, energy-efficient oxygen generation systems, AI-powered oxygen flow adjustment, and real-time data tracking for oxygen usage.
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Which Factors Are Contributing Most to the Expansion of the Oxygen Source Equipment Market?
The increasing prevalence of respiratory diseases is expected to propel the growth of the oxygen source equipment market going forward. Respiratory diseases refer to medical conditions that affect the lungs and other parts of the respiratory system, making breathing difficult. The rising prevalence of respiratory diseases is primarily due to increasing air pollution and exposure to environmental toxins which damage lung tissue, reduce respiratory function, and trigger or exacerbate conditions such as asthma, chronic obstructive pulmonary disease (COPD), and lung cancer. Oxygen source equipment is used in respiratory diseases to deliver supplemental oxygen, helping maintain adequate blood oxygen levels when the lungs are unable to do so effectively. For instance, in February 2024, according to the UK Health Security Agency, a UK-based government agency, in 2023, England recorded a 10.7% year-over-year increase in tuberculosis (TB) cases, with reported cases rising from 4,380 in 2022 to 4,850. Therefore, the increasing prevalence of respiratory diseases is driving the growth of the oxygen source equipment market.
What Are the Emerging Segments Driving Growth in the Oxygen Source Equipment Market?
The oxygen source equipment market covered in this report is segmented –
1) By Product Type: Oxygen Cylinders, Oxygen Concentrators, Liquid Oxygen Equipment, Oxygen Systems For Industrial Use, Portable Oxygen Systems
2) By Delivery Mode: Gas Delivery Systems, Cryogenic Liquid Delivery Systems, Portable Delivery Systems, Pipeline Delivery Systems, Bulk Oxygen Supply Systems
3) By Application: Hospital, Clinic, Other Applications
4) By End-User: Healthcare And Medical, Aerospace And Aviation, Industrial Manufacturing, Water Treatment Plants, Energy And Power Generation
Subsegments:
1) By Oxygen Cylinders: Steel Oxygen Cylinders, Aluminum Oxygen Cylinders, Composite Oxygen Cylinders, High-Pressure Oxygen Cylinders, Low-Pressure Oxygen Cylinders
2) By Oxygen Concentrators: Portable Oxygen Concentrators, Stationary Oxygen Concentrators, Continuous Flow Concentrators, Pulse Dose Concentrators
3) By Liquid Oxygen Equipment: Portable Liquid Oxygen Units, Home-Based Reservoir Systems, Hospital-Based Bulk Liquid Oxygen Systems, Mobile Cryogenic Containers
4) By Oxygen Systems For Industrial Use: Pressure Swing Adsorption (PSA) Oxygen Plants, Vacuum Pressure Swing Adsorption (VPSA) Plants, Cryogenic Air Separation Units (ASUs), Membrane-Based Oxygen Generators
5) By Portable Oxygen Systems: Wearable Oxygen Devices, Lightweight Cylindrical Kits, Portable Oxygen Concentrator Kits, Backpack Oxygen Delivery Systems
What Are the Key Industry Trends Driving Growth in the Oxygen Source Equipment Market?
Major companies operating in the oxygen source equipment market are focusing on innovative products such as portable oxygen concentrators to enhance patient mobility, improve quality of life, and meet the growing demand for home-based and travel-friendly respiratory care solutions. A portable oxygen concentrator is a compact medical device that extracts and delivers concentrated oxygen from ambient air, allowing patients with respiratory conditions to receive oxygen therapy while on the move. For instance, in October 2024, Inogen, a U.S.-based medical technology company, launched the Rove 4, a lightweight portable oxygen concentrator weighing under 3 lbs. It offers four flow settings, delivering up to 840 ml/min of medical-grade oxygen, and features three battery configurations providing up to 5 hours and 45 minutes of operation. The device is designed to support patient mobility and daily activities.
Which Companies Hold a Prominent Position in the Oxygen Source Equipment Market?
Major companies operating in the oxygen source equipment market are Medtronic plc, Air Liquide Healthcare, Koninklijke Philips N.V., GCE Healthcare, Teijin Limited, ResMed Inc., Fisher & Paykel Healthcare, Invacare Corporation, Contec Medical Systems, Inogen Inc., Drive DeVilbiss Healthcare, CAIRE Inc. (Chart Industries), Precision Medical Inc., OxyGo LLC, O2 Concepts LLC, Longfian Scitech Co. Ltd., Nidek Medical Products, Besco Medical Limited, Scaleo Medical SAS, Oxus Inc.
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What Are the Fastest-Growing Regions in the Oxygen Source Equipment Market?
North America was the largest region in the oxygen source equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oxygen source equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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