Global Oxygen Therapy Device Market – Regional Analysis
Depending on geographic region, Oxygen therapy device market is segmented into four key regions: Americas, Europe, Asia Pacific, and Rest of the world. Where America is the largest market for the oxygen therapy devices because of the various development in the home based therapy. Another reason is the lifestyle of the people in developed countries. Europe is the second largest region where the home based oxygen therapy are adopted. Asia-Pacific is the fastest growing region for the oxygen therapy device market. The major reason can be countries like China and India are changing their trends towards the healthcare and are adopting to the advanced technology in the healthcare industries.
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Further the oxygen therapy market is expected to be high in the Asia-Pacific region due to the increasing population, increasing number of the diseases due to the behavioural and lifestyle changes in the people. As well as the countries are spending more on the healthcare, which is leading to the adoption of the advanced technology.
Global Oxygen Therapy Device Market – Latest Industry News
ResMed has released the data from two clinical studies which explore the combination of home oxygen therapy and non-invasive ventilation therapy for patients who suffer from persistent hypercapnia following chronic obstructive pulmonary disorder exacerbation. The studies found that combined therapy proved to be highly cost efficient and it was found that the exacerbation frequency reduced greatly.
Global Oxygen Therapy Device Market – Key Players
There are various local and global players who manufacture devices for oxygen therapy. However we have profiled some of the major players which are Phillips healthcare, Devilbiss Healthcare, Cardinal Healthcare, Respironics, Salter Labs, Masimo Corporation, Carefusion, Teflex, Bio Med, Fisher & Paykel Healthcare Limited, Inogen, O2 Concepts, Smith medicals, Medtronic, 3B Medical, 3M Healthcare and many more.
Global Oxygen Therapy Device Market – Segments
The oxygen therapy device market is segmented by the types of products (Non-re-breather mask, Incubators, Continuous positive airway pressure, Liquid oxygen device, Hyperbaric oxygen chamber, Nassal cannula, Cylinder, Concentrators and Oximeter), application (Hypoxia, Heart diseases, Sleeping apnea, Lung diseases, Chronic obstructive pulmonary diseases, Respiratory issues and others) and by end users (Hospital, Clinics, Patients).
Global Oxygen Therapy Device Market – Overview
The Global Oxygen Therapy Device Market is expected to grow at approximate 12% CAGR. The market is expected to reach USD 15 billion by 2023 as compared to 8 billion in 2016. The number is growing across the world because of the changing lifestyle.
Oxygen is critical to survival and for the efficient functioning of the body’s pulmonary system. Growing occurrences of respiratory disorders and the increase in incidences of chronic obstructive pulmonary diseases (COPD) have led to the growth of oxygen therapy devices as it is more cost efficient to use in the long term. Market Research Future has disclosed in its newest publication that the global oxygen therapy devices market is expected to value USD 15 billion by 2023 and grow at a notable CAGR of 12% during the forecast period of 2017 to 2023.
Increasingly favorable medical device regulations, growing occurrence of respiratory diseases and the rapidly growing incidences of diabetes which can cause COPD, are some principal factors affecting the positive growth of the market. Moreover, the change in trends is witnessing consumers shift preference for affordable home healthcare, this motivating market growth.
Advancements in oxygen therapy devices are ongoing and are expected to facilitate growth for the global market in the coming years.
Major Table of Content
1 Report Prologue
2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
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