The cultivation of Arthrospira platensis in tubular photobioreactors (tPBRs) presents a promising approach for the commercial production of nutraceuticals and food products as it can achieve high productivity and effective process control. In closed photobioreactors, however, high amounts of photosynthetically produced oxygen can accumulate. So far, there has been a wide range of discussion on how dissolved oxygen concentrations (DOCs) affect bioprocess kinetics, and the subject has mainly been assessed empirically. In this study, we used photorespirometry to quantify the impact of DOCs on the growth kinetics and phycocyanin content of the widely cultivated cyanobacterium A. platensis. The photorespirometric routine revealed that the illumination intensity and cell dry weight concentration are important interconnected process parameters behind the impact that DOCs have on the bioprocess kinetics. Unfavorable process conditions such as low biomass concentrations or high illumination intensities yielded significant growth inhibition and reduced the phycocyanin content of A. platensis by up to 35%. In order to predict the biomass productivity of the large-scale cultivation of A. platensis in tPBRs, a simple process model was extended to include photoautotrophic oxygen production and accumulation in the tPBR to evaluate the performance of two configurations of a 5000 L tPBR.