Press Release

North America Medical Oxygen Market to Grow with a CAGR of 7.68% through 2029F

Increasing Prevalence of Respiratory Conditions and increase in the home healthcare trends is expected to drive the North America Medical Oxygen Market growth in the forecast period, 2025-2029.

According to TechSci Research report, “North America Medical Oxygen Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the North America Medical Oxygen Market stood at USD 3.66 billion in 2023 and is anticipated to grow with a CAGR of 7.68% in the forecast period, 2025-2029.
The increasing awareness about medical oxygen among individuals has created favorable market conditions for the North America Medical Oxygen market. Several factors are driving the growth of various medical oxygen products. The rising prevalence of respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea, combined with an aging population, is elevating the need for medical oxygen therapy. Additionally, advancements in oxygen delivery systems, including portable oxygen concentrators and sophisticated delivery methods, have expanded the applications for medical oxygen therapy. These innovations effectively address patient needs, thereby broadening the patient demographic. In countries like Canada, universal healthcare systems ensure that all citizens have access to essential medical services, including oxygen therapy, thus establishing a stable demand base.

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The North America Medical Oxygen Market is segmented into form, delivery mode, application, end-user, country distribution, and company.

In 2023, the therapeutics segment emerged as the dominant player in the North American market for medical oxygen, driven by several critical factors. The primary driver is the increasing prevalence of chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and interstitial lung diseases. These conditions necessitate long-term oxygen therapy (LTOT) to manage symptoms and improve patients' quality of life. As the incidence of these diseases rises, the demand for medical oxygen in therapeutic applications has surged. Advancements in medical technology have enhanced the delivery systems for oxygen therapy. Innovations in portable oxygen concentrators (POCs) and home oxygen systems have made oxygen therapy more accessible and convenient for patients. These devices offer better oxygen delivery, are more user-friendly, and have extended battery lives, enabling patients to maintain an active lifestyle while receiving therapy.

The aging population in North America also contributes significantly to the dominance of the therapeutics segment. Older adults are more prone to respiratory diseases and other chronic conditions that require oxygen therapy. As the demographic shift towards an older population continues, the demand for therapeutic oxygen is expected to grow correspondingly. The impact of the COVID-19 pandemic cannot be overlooked. The pandemic underscored the critical importance of medical oxygen in managing respiratory complications associated with severe COVID-19 cases. This increased awareness has led to greater investments in oxygen infrastructure and supply, further boosting the therapeutics segment.

In the North American market for medical oxygen, the homecare segment is poised for rapid growth during the forecast period, driven by several key factors. There is a growing trend towards home-based healthcare, especially in light of the COVID-19 pandemic. Patients are increasingly seeking alternatives to hospital-based care to reduce the risk of exposure to infectious diseases. Home oxygen therapy allows patients with chronic respiratory conditions to receive treatment in the comfort and safety of their own homes, promoting better adherence to therapy and improving overall patient outcomes.

Advancements in portable oxygen concentrator (POC) technology have made it easier for patients to manage their oxygen therapy outside of traditional healthcare settings. These devices are lightweight, portable, and offer long battery life, enabling patients to maintain an active lifestyle while receiving oxygen therapy. The convenience and flexibility provided by POCs have fueled the demand for home oxygen therapy among patients and healthcare providers alike. The aging population in North America is contributing to the growth of the homecare segment. Older adults are more likely to suffer from chronic respiratory conditions that require long-term oxygen therapy. As the baby boomer generation continues to age, the demand for home oxygen therapy is expected to increase significantly.

Healthcare policies and reimbursement schemes that promote home-based care are further driving the expansion of the homecare segment. Insurers and healthcare providers recognize the cost-effectiveness of home oxygen therapy compared to hospital-based care, leading to greater adoption and utilization of home oxygen services.

Based on country, Canada market is poised to be the fastest-growing market, offering lucrative growth opportunities for Medical Oxygen players during the forecast period. Factors such as Canada's universal healthcare system ensures that all citizens have access to medical services, including oxygen therapy. This stable demand provides a reliable market base. Similar to the United States, Canada is witnessing an aging population, leading to an increased prevalence of respiratory conditions. This demographic trend sustains the demand for medical oxygen. The Canadian government actively supports healthcare initiatives, including subsidies for medical oxygen equipment, ensuring accessibility for patients.

Major companies operating in North America Medical Oxygen Market are:

  • Linde PLC
  • Air Products and Chemicals Inc
  • Air Liquide SA
  • Messer SE & Co KGaA
  • Keen Compressed Gas Co
  • Atlas Copco AB
  • AGL Welding Supply Co., Inc.

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“Countries like Canada have universal healthcare systems that ensure access to essential medical services, including oxygen therapy, for all citizens. This stable demand is supported by government funding. In the United States, the presence of private healthcare providers and insurance companies has led to comprehensive coverage for medical oxygen therapy, reducing financial barriers for patients. Investment in Healthcare Infrastructure: Both public and private sectors continue to invest in healthcare infrastructure, expanding the reach of medical services and increasing the accessibility of medical oxygen therapy.,” said Mr. Karan Chechi, Research Director, TechSci Research, a research-based management consulting firm.

North America Medical Oxygen Market Segmented By Form (Liquid Oxygen, Compressed Oxygen, Oxygen Gas Mixture), By Delivery Mode (Tanks/Pipeline, Cylinder, Others), By Application (Therapeutic, Diagnostic), By End-User (Hospitals & Clinics, Ambulatory Care Centers, Homecare, Others), By Country, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated the future growth potential of North America  Medical Oxygen Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America Medical Oxygen Market.


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