Oxygen Therapy Market
Global Oxygen Therapy Devices Market is anticipated to grow at a 5.90
Global Oxygen Therapy Devices Market is anticipated to grow at a 5.90
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<strong>Oxygen</strong> <strong>Therapy</strong> <strong>Market</strong> Outlook and Growth Analysis Covering <strong>Market</strong> Size<br />
during the Period 2017-2022<br />
Global <strong>Oxygen</strong> <strong>Therapy</strong> Devices <strong>Market</strong> is anticipated to grow at a 5.90% CAGR from 2016<br />
to 2021 and it is estimated that the global market was valued at USD 2.10 bn in 2016 and is<br />
relied upon to achieve USD 2.97 bn by 2021. Technological advancements in respiratory<br />
care services and a rise in the inclination of patients for convenient home oxygen therapy<br />
device are key driving factors for oxygen therapy devices market.<br />
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Different oxygen treatments are utilized to treat various respiratory infections due to their<br />
supplementary and definitive role. Advantages of oxygen therapy also include increased<br />
mental stamina, aversion of heart failure, and an enhanced breathing pattern. Global<br />
oxygen market is driven by increasing application of oxygen supply. The administration and<br />
supply of supplementary oxygen have turned into an indispensable part in the management<br />
of numerous diseases. <strong>Oxygen</strong> therapy is applicable to numerous diseases, for example,<br />
chronic obstructive pulmonary disease, asthma, respiratory distress syndrome, and<br />
obstructive sleep apnea. Long-term oxygen treatments in patients suffering from chronic<br />
lung disease are believed to enhance the length and the quality of life, in this way<br />
contributing towards the swift development of the global oxygen therapy devices market.<br />
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The growth in different respiratory diseases is expected to be the driving force in the<br />
development of the global oxygen therapy devices market in the coming years. Be that as it<br />
may, poor compensation and constantly changing regulations related to oxygen therapy<br />
devices are expected to hamper the growth of the global oxygen therapy devices market in<br />
near future. Despite the fact that the global oxygen therapy devices market is expecting<br />
hindrances due to a couple of restrictions, it will discover new development opportunities in<br />
growing economies. Furthermore, government's initiative towards improving respiratory<br />
care and an increase in government funding for the introduction of new medical devices are<br />
predicted to profit the global oxygen therapy devices market.<br />
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The global market for oxygen therapy devices market is segmented into product type,<br />
application and end user. On the basis of product, it is segmented into <strong>Oxygen</strong> Source<br />
Equipment, Cylinders, Concentrators, Liquid <strong>Oxygen</strong> Devices, PAP, <strong>Oxygen</strong> Delivery<br />
Device, Masks, Nasal Cannula, Venturi Mask, Non-Rebreather Mask, Bag Valve and<br />
CPAP. <strong>Oxygen</strong> source equipment are expected to grow at 11% CAGR It is attributed to the
consolidation of this equipment in the extensive variety of uses as the first line of treatment.<br />
On the basis of application, it is segmented into Chronic Obstructive Pulmonary Disease,<br />
Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis,<br />
Pneumonia. Chronic obstructive pulmonary disease holds the largest share of the<br />
application segment and it is anticipated to grow lucratively at a CAGR of over 10.5% over<br />
the next five years. This is due to increasing popularity of supplemental administration in<br />
conjunction with first line treatments available for COPD. Moreover, this treatment includes<br />
faster response rates, reliability and portability, and above all improves chances of survival.<br />
On the basis of end use it is segmented into Home Healthcare and Hospitals. Home health<br />
care dominates the end-use segment, owing to the rise in elderly population coupled with<br />
increasing number of patients with low mobility and long-term care requirement in<br />
conditions such as Alzheimer’s disease.<br />
On the basis of geography, the global market is analyzed under various regions namely<br />
North America, Europe, Asia-Pacific and Rest of the World. In 2016, the major share of<br />
oxygen therapy market’s revenue was held by North America at staggering 40.0%. High<br />
R&D investments and an increase in the number of product endorsements have been the<br />
key growth drivers responsible for the North America’s largest share of the market. It is<br />
followed by Europe in terms of revenue share owing to the presence of favorable<br />
government initiatives for improving respiratory care, such as European Committee for<br />
Hyperbaric Medicine (ECHM), involved in promoting awareness pertaining to the treatment.<br />
The Asia-Pacific region is expected to offer a lucrative market in the future due to the<br />
increasing elderly population who require home-based oxygen therapy. Furthermore, a rise<br />
in healthcare expenditure in emerging economies such as China and India will further fuel<br />
the market.<br />
Respironics Inc. (a Philips company), Teleflex Incorporated, AirSep Corporation, DeVilbiss<br />
Healthcare, ResMed Inc, Fisher & Paykel Healthcare Limited, Invacare Corporation are<br />
some of the leading companies in the global oxygen therapy devices market.<br />
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