Canada Oxygen Therapy Market Insights Forecasts to 2033

• The Canada Oxygen Therapy Market Size was valued at USD 1.8 Billion in 2023.
• The Market is Growing at a CAGR of 7.18% from 2023 to 2033
• The Canada Oxygen Therapy Market Size is expected to reach USD 3.6 Billion by 2033

The Canada Oxygen Therapy Market Size is anticipated to exceed USD 3.6 Billion by 2033, growing at a CAGR of 7.18% from 2023 to 2033. The increasing prevalence of respiratory diseases, launch of novel products, preference for home-based oxygen therapy, and initiatives are driving the growth of the oxygen therapy market in the Canada.     

Market Overview

Oxygen therapy is a treatment that provides patients with supplemental oxygen to breathe in. Oxygen treatment is extremely helpful in maintaining appropriate blood oxygen levels when treating chronic respiratory problems because respiratory diseases have detrimental effects and can only be treated with long-term care. Many patients prefer the convenience and comfort of receiving care at home over institutional settings like hospitals or nursing homes, especially those who are old or have chronic illnesses. Because there were fewer ventilators available during the COVID-19 pandemic, there was a greater need for oxygen concentrators. Using already-existing equipment, such as oxygen concentrators, positive airway pressure (PAP) devices, anesthetic machines, and manual resuscitators, biomedical engineers and scientists created improvised systems that mimic the fundamental operations of ventilators to alleviate this shortfall. Thus, oxygen therapy devices have experienced surging demand, driving market growth. The use of telemonitoring in home oxygen therapy, the development of a cloud-based analytical system, and the integration of remote patient monitoring are propelling the market growth opportunity.

Report Coverage

This research report categorizes the market for the Canada oxygen therapy market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada oxygen therapy market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada oxygen therapy market.

Driving Factors

It is estimated that one in five Canadians is suffering from serious respiratory diseases including asthma, COPD, lung cancer, tuberculosis, cystic fibrosis, and respiratory distress syndrome. The increased prevalence of respiratory diseases in the country is responsible for driving the market. The surging preference for home-based oxygen therapy for managing chronic obstructive pulmonary diseases and other cardiorespiratory conditions is significantly contributing to driving the market. Further, the initiatives for enhancing the accessibility of oxygen therapy are responsible for driving the market. For instance, in September 2022, Canada contributed Can$ 25 million to Unitaid to expand sustainable access to medical oxygen.

Restraining Factors

The increased cost of oxygen therapy equipment and treatment hamper its adoption, thereby restraining the oxygen therapy market. The rigorous regulatory guidelines for product approvals are responsible for restraining the market growth.

Market Segmentation

The Canada Oxygen Therapy Market share is classified into product, application, and end use.

• The oxygen source equipment segment dominated the market with the largest market share during the forecast period.

The Canada oxygen therapy market is segmented by product into oxygen source equipment and oxygen delivery devices. Among these, the oxygen source equipment segment dominated the market with the largest market share during the forecast period. Oxygen source equipment includes an air compressor or blower, dryer, filters, compressed air tank, and dual separation chambers. The adoption of this equipment in healthcare settings as well as advancements such as portability and lightweight design are positively influencing the market growth.

• The chronic obstructive pulmonary disease segment accounted for the largest market share in 2023.

The Canada oxygen therapy market is segmented by application into chronic obstructive pulmonary disease, asthma, obstructive sleep apnea, respiratory distress syndrome, cystic fibrosis, pneumonia, and others. Among these, the chronic obstructive pulmonary disease segment accounted for the largest market share in 2023. Long-term use of supplemental oxygen was demonstrated to improve survival in patients with COPD and severe hypoxemia. The increased prevalence of COPD in the country is significantly responsible for driving the market demand.

• The home healthcare segment dominated the Canada oxygen therapy market with the largest market share in 2023.       

Based on the end use, the Canada oxygen therapy market is divided into home healthcare and non-home healthcare. Among these, the home healthcare segment dominated the Canada oxygen therapy market with the largest market share in 2023. Home healthcare is less expensive than inpatient care, reducing healthcare costs, easing the strain on healthcare facilities, and doing away with the necessity for extended hospital stays. The increasing incidences of chronic respiratory diseases and the demand for home healthcare are responsible for driving the market demand in the home healthcare segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada oxygen therapy market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Koninklijke Philips N.V.
• Medtronic PLC
• Fisher & Paykel Healthcare Limited
• Respan Products Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Oxygen Therapy Market based on the below-mentioned segments:

Canada Oxygen Therapy Market, By Product

• Oxygen Source Equipment
• Oxygen Delivery Devices

Canada Oxygen Therapy Market, By Application

• Chronic Obstructive Pulmonary Disease
• Asthma
• Obstructive Sleep Apnea
• Respiratory Distress Syndrome
• Cystic Fibrosis
• Pneumonia
• Others

Canada Oxygen Therapy Market, By End use

• Home Healthcare
• Non-Home Healthcare