Oxygen Therapy Market Global Analysis by 2019 to 2026 | By Industry Growth Rate, Size, Share, Current & Future Business Opportunities
Oxygen therapy, also referred as supplemental oxygen, is the medical treatment where oxygen is used. It is typically used for conditions such as hypoxia, hypoxemia, and other related conditions. Oxygen may be administered through a nasal cannula, face mask, or through hyperbaric oxygen chamber. This therapy helps maintain oxygen level in the blood for treatment of acute and chronic diseases such as chronic obstructive diseases (COPD), pneumonia, and asthma. Long-term therapy with oxygen is often useful in people suffering from COPD. Certain other acute or chronic disease conditions where oxygen therapy is effective include cystic fibrosis, dysplasia, heart failure, sleep apnea, and lung disorders.
Request for the trending sample of this report: https://www.coherentmarketinsights.com/insight/request-sample/97
Global Oxygen therapy market taxonomy
The global oxygen therapy market is segmented on basis of source equipment, application, delivery device, and end use. By type of source equipment, the market in oxygen therapy is segmented into oxygen cylinders, liquid oxygen devices, and oxygen concentrators. On the basis of device type, the oxygen therapy industry is segmented into nasal cannula, face mask, bag valve mask, venturi mask, oxygen mask, non-rebreather mask, and CPAP devices. On the basis of application, the global oxygen therapy market is as asthma, cystic fibrosis, COPD, pneumonia, respiratory distress syndrome, and cardiovascular diseases.
Oxygen therapy is used in hospitals to cure patients suffering from respiratory diseases such as COPD and pneumonia, and also cardiovascular diseases fueling growth of the oxygen therapy market. Oxygen therapy is also used in clinics, rehabilitations centers and home care settings.
Tailored Information as per niche requirement:
LIMITED TIME OFFER – Hurry Up!
Get Discount For Buyers UPTO 30% OFF On Any Research Report
Apply Promo Code “CMIFIRST1000” And Get Instant Discount Of USD 1000
Buy Now This Premium Report to Grow your Business @ https://www.coherentmarketinsights.com/insight/buy-now/97
Market Dynamics- Drivers
Increasing incidence of COPD and lung disorders drive growth of the oxygen therapy market across the globe
Growing prevalence of respiratory diseases, growing geriatric population, and increasing vulnerability of the populace to respiratory conditions are expected to drive growth of the global oxygen therapy market during the forecast period. According to the Center for Diseases Control and Prevention (CDC), around 15.7 million people in the U.S. were diagnosed with COPD in 2013. Moreover, innovation in portable oxygen concentrators, rise in number of untreated sleep apnea cases, favorable reimbursement scenario, growing demand for oxygen filling devices, good medical facilities, and high investment in research and development activities are expected to drive the market growth.
Among regions, North America holds the dominant position in the market, owing growing geriatric population in the region. Moreover, Europe is expected to witness significant growth during the forecast period, owing increasing number of patients suffering from respiratory diseases and favorable government initiatives to facilitate respiratory care.
According to the World Health Organization, over 90% of COPD deaths occur in low income and middle income countries. Therefore, the oxygen therapy market is expected to grow substantially in African, Asian, and Latin American countries due to high prevalence of COPD and deaths due to the disease. Furthermore, increasing awareness among medical facilities, increasing government investment in healthcare facilities, and availability of low cost treatment is projected to drive demand for oxygen therapy in emerging economies.
Alarming increase in number of lung damage cases increasing demand for oxygen therapy for effective treatment
According to World Health Organization (WHO) over 3 million people die each year due to COPD. Increasing use of oxygen therapy in treatment of diseases such as COPD, asthma, obstructive sleep apnea, and respiratory distress syndrome is a supportive prevalent trend in the market. Long-term oxygen therapy for patients suffering from chronic lung disease can help improve quality and length of life, in turn creating a favorable environment for the market. Increasing risk of lung damage due to tobacco consumption, occupational hazards, and pollution would further augment market growth over the following decade.
Major companies operating in the global oxygen therapy market are Respironics, Inc. (a Philips company), Fisher & Paykel Healthcare Limited, Teleflex Incorporated, Invacare Corporation, AirSep Corporation, CareFusion Corporation, DeVilbiss Healthcare, MAQUET Holding B.V. & Co. KG, and ResMed, Inc.
To understand Research Methodology, please click https://www.coherentmarketinsights.com/ongoing-insight/oxygen-therapy-market-97
- Major companies in the market are focused on different business strategies such as product launches, in order to expand product portfolio and gain competitive edge in the market. For instance, in September 2018, CAIRE, Inc., a manufacturer of oxygen therapy solutions, launched Freestyle Comfort, a portable oxygen concentrator. This novel device will feature five pulse settings and innovative comfort curves.
- Various leading hospitals are focused on different business strategies such as product and treatment launches, in order to offer effective oxygen therapy solutions to patients. For instance, in April 2018, Amandeep Hospital, Amritsar, India launched a novel treatment therapy called Hyerbaric Oxygen Therapy (HBOT). This therapy will be used in wound healing, especially for diabetic foot and non-healing wounds.
- Key players in the market are focused on different business strategies such as product launches, in order to expand their product portfolio. For instance, in April 2019, Inogen, Inc., a U.S.-based medical technology company, launched Innovative Inogen One G5, which is a portable oxygen concentrator. This novel respiratory product can be used for home settings and will meet the needs of oxygen therapy patients.
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
- CDN Newswire