Respiratory Oxygen Delivery Devices Market Size, Share & Trends Analysis Report By Product (Oxygen Masks, Nasal Cannula), By End-use (Hospitals, Outpatient Facilities, Home Care), By Region, And Segment Forecasts, 2023 - 2030

Respiratory Oxygen Delivery Devices Market Size, Share & Trends Analysis Report By Product (Oxygen Masks, Nasal Cannula), By End-use (Hospitals, Outpatient Facilities, Home Care), By Region, And Segment Forecasts, 2023 - 2030

Respiratory Oxygen Delivery Devices Market Growth & Trends

The global respiratory oxygen delivery devices market size is expected to reach USD 21.73 billion by 2030, registering a CAGR of 7.9% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market encompasses diverse medical equipment designed to administer oxygen therapy and aid in respiratory support. These devices are crucial for individuals with various respiratory conditions, ranging from chronic obstructive pulmonary disease (COPD) and asthma to acute situations like COVID-19. The market’s growth is primarily driven by factors, such as the increasing prevalence of respiratory disorders, the growing aging global population, technological advancements leading to more efficient & user-friendly devices, rising awareness about respiratory health, and increasing government funding, which highlighted the importance of adequate respiratory care and oxygen therapy.

For instance, in June 2022, The U.S. Agency for International Development (USAID) progressed with its previously announced USD 50 million initiative to enhance worldwide access to medical oxygen. The agency's efforts included commitments to enhance healthcare infrastructure, particularly establishing and upgrading facilities capable of supporting bulk liquid oxygen in 50 locations globally. USAID's estimates indicated that this investment would provide medical oxygen across more than 20,000 beds, potentially saving the lives of hundreds of thousands of patients annually. The investment addresses a crucial aspect of respiratory care, particularly in regions with limited resources and healthcare infrastructure. Improved access to medical oxygen can increase demand for oxygen delivery devices. As healthcare facilities in these regions are reinforced and equipped to provide life-saving oxygen therapy, the product demand is likely to increase, thereby positively impacting the market growth.

Respiratory Oxygen Delivery Devices Market Report Highlights

• The market growth is attributed to the increasing prevalence of respiratory diseases, such as asthma, COPD, etc., and the rising global geriatric population are major factors driving the market’s growth
• The oxygen masks segment accounted for the largest revenue share of 35.96% in 2022
• The hospitals segment dominated the market with a revenue share of 51.76% in 2022 and is expected to continue its dominance with the fastest CAGR of 8.0% from 2023 to 2030
• Asia Pacific dominated the market with a revenue share of 42.40% in 2022 and is expected to continue its dominance over the forecast period
• The market growth in this region can be attributed to the presence of highly populated countries, such as China and India, the availability of the latest technologies, and product launches

Please note The report will be delivered in 2-3 business days upon order notification.