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

The market for oxygen therapy in chronic obstructive pulmonary disease (COPD) disorders is projected to witness an increase of USD 5.63 billion between 2023 and 2030, with an accelerated growth rate reaching a CAGR of 5.68%.

Market Overview:

Chronic Obstructive Pulmonary Disorder (COPD) is a prevalent, manageable, and preventable illness resulting from persistent respiratory limitations and constrained airflow due to airway or alveolar irregularities, commonly caused by prolonged exposure to harmful particles or gases.

Within the United States, Chronic Obstructive Pulmonary Disorder encompasses two primary conditions – Emphysema and Chronic Bronchitis. Emphysema is characterized by damaged walls between air sacs, leading them to lose shape and elasticity, thereby reducing lung air exchange. The primary cause of COPD includes exposure to tobacco smoke, allergens like pollen or animal dander, air irritants such as chemical fumes or smoke, and severe weather conditions. Other contributing factors to the global oxygen therapy market for COPD include indoor air pollution (e.g., heating and cooking fuel), outdoor air pollution, occupational exposure to dust and chemicals, and frequent childhood respiratory infections. Key market players are focused on introducing innovative, technologically advanced products to tap into lucrative opportunities. The rising adoption of digital inhalers and triple oxygen therapy treatments is expected to create significant avenues for manufacturers during the forecast period.

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

 The COVID-19 outbreak, originating in Wuhan (China) in December 2019, swiftly spread worldwide. Countries such as China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US witnessed high rates of positive cases and reported fatalities. The outbreak significantly impacted economies and industries globally through lockdowns and business closures. The healthcare and pharmaceutical sectors faced considerable disruptions, including supply chain interruptions, technology event cancellations, and office closures. This crisis impeded market growth by affecting production and demand, creating financial strains on manufacturing, and causing supply chain disruptions. The prevalence of chronic respiratory diseases like bronchial asthma and COPD has notably increased worldwide in recent years, both of which are recognized as risk factors for severe outcomes from COVID-19. Moreover, the pandemic-induced shutdowns and ensuing lifestyle changes disrupted normal bodily rhythms due to reduced physical activity, poor sleep patterns, unhealthy diets, and heightened stress levels. These overall market disturbances due to COVID-19, including factory closures, supply chain disruptions, and a global economic downturn, continue to impact market growth.

Market Drivers:

Increased Awareness of Respiratory Diseases:

Rising awareness and improving literacy rates in many developing and underdeveloped nations are encouraging rural populations to focus more on health, cleanliness, lifestyle, and overall well-being. Additionally, the COVID-19 crisis has prompted modern consumers to prioritize health-related decisions, thereby bolstering the market size for oxygen therapy and other COPD treatments.

Urbanization and Middle-Class Disposable Income:

Rapid urbanization, coupled with rising disposable incomes among the middle-class demographic, is driving market growth. With an increased population, urbanization rates, improved living standards, and greater disposable income, individuals are recognizing the importance of regular health check-ups, leading to higher demand for COPD-related drugs, therapies, and diagnoses. The availability of oxygen therapy in various price ranges makes it highly accessible to consumers, further fueling market growth.

Increased Healthcare Industry Investments:

Rising investments in the healthcare sector are enhancing infrastructure, with government organizations implementing strategies and initiatives to improve global healthcare standards.

Demand for Research and Technological Advancements in Pharmaceuticals:

Private capital investments and spending on pharmaceutical research and development have notably increased, leading to the approval and launch of new therapies and drugs. The pharmaceutical industry has witnessed a surge in R&D spending, which has resulted in constant innovations, thereby boosting the oxygen therapy market for COPD.

Government Initiatives and NGO Collaborations:

Governments worldwide are actively promoting health awareness campaigns in partnership with NGOs to emphasize the importance of regular check-ups and the adoption of healthy lifestyles, particularly in rural areas. This collaboration is expanding the market size for oxygen therapy.

Market Restraints:

Patent Expirations Impacting Market Growth:

The global oxygen therapy market for COPD is facing declining profit margins due to an aging population and upcoming patent expirations. Key patents of multi-billion-dollar brands are set to expire soon, leading to an imbalance between new product introductions and patent losses. The loss of hundreds of thousands of pharmaceutical jobs in recent years has been primarily attributed to the predicted revenue decline from expiring drug patents, indicating a significant constraint on market growth.

Oxygen Therapy for COPD Market – By Product.

The market for Oxygen Therapy in COPD, categorized by product, includes:

• Oxygen Source Equipment:
  • Oxygen Cylinders
    • 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

The Oxygen Therapy for COPD market is segmented into two main categories based on products: Oxygen Source Equipment and Oxygen Delivery Devices.

In 2021, Oxygen source equipment held a significant share of over 60.0%. This was attributed to the widespread availability and utilization of O2 concentrators, compressed systems, cylinders, and liquid oxygen, which serve as the primary sources of Oxygen therapy. Among these, oxygen concentrators are expected to demonstrate lucrative growth, with portable concentrators showing notable potential due to their use in various healthcare emergencies and transportation settings such as ambulances, rails, and aircraft.

The industry's growth is further bolstered by the introduction of technologically advanced oxygen source and delivery devices, enhancing patient care efficiency. The rising popularity of Portable Oxygen Concentrators (POC) for on-demand usage, especially in emergency medicine, is predicted to drive demand in the coming years. Global market entry of competitors, consumer demand for advanced technology, and the pressing medical need for increased mobility support among the elderly population are among the factors contributing to this growth.

The Oxygen masks segment is expected to exhibit steady growth as these masks play a crucial role in the Oxygen delivery system, leading to increased adoption and market expansion. These devices ensure precise Oxygen concentration delivery, consistent flow and pressure, and enhanced patient comfort, thereby driving demand within the segment.

Oxygen Therapy for COPD Market – By End-Use.

The market for Oxygen Therapy in COPD, categorized by end-use, includes:

• Home Healthcare
• Hospitals and Clinics
• Ambulatory and Surgical Centres

The Oxygen Therapy for COPD market is segmented into three main categories based on end-use: Home Healthcare, Hospitals and Clinics, and Ambulatory and Surgical Centres.

In 2021, the Home Healthcare segment held the majority share of over 60.0%, with a projected steady growth rate. The increasing integration of Oxygen Therapy devices in home settings is expected to drive market expansion.

The Hospitals and Clinics segment is also anticipated to grow steadily over the forecast period. This growth is attributed to the widespread use of oxygen therapy equipment and associated devices in hospital and clinical settings. Moreover, hospitals provide comprehensive facilities in controlled environments, which is likely to attract patients with severe disorders, thereby fueling segment growth.

Oxygen Therapy for COPD Market – By Region.

The market for Oxygen Therapy in COPD, segmented by region, includes:

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East and Africa

The Oxygen Therapy for COPD market is segmented into five main regions: North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.

As of 2021, North America led the market with a revenue share of over 30.0%, primarily due to substantial R&D investments in the region. The increasing adoption of various Oxygen Therapies and the prevalence of urbanization and occupational hazards contributing to respiratory disorders are driving market demand.

The Asia-Pacific region is expected to witness significant growth during the forecast period. This growth is fueled by substantial R&D investments by key global players and the expanding commercialization of Oxygen therapy equipment for COPD. Technological advancements, innovations, and the growing collaboration among key market players, along with diversification of distribution networks, are further propelling market growth in this region.

Oxygen Therapy for COPD Market – By Companies.

Major players in the Oxygen Therapy for COPD market include:

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

Intense competition characterizes the market among these key players due to the rising demand for oxygen therapy and the increasing prevalence of COPD. This scenario is expected to benefit new entrants, thanks to heightened awareness, technological advancements, and the acceptance of these therapies. Companies are expanding their product portfolios, reach, and market share through mergers, acquisitions, and collaborations, aiming to capitalize on lucrative opportunities within the market.