According to the current analysis of Reports and Data, the global Oxygen Therapy Devices market was valued at USD 2.54 billion in 2019 and is expected to reach USD 4.92 billion by the year 2027, at a CAGR of 8.6%. Oxygen Therapy Devices are used to provide an oxygen supplement to the patients experiencing deprivation of oxygen in their bodies.
Leading Players Profiled in the Report Include:
Dickinson and Company (U.S.), Philips Healthcare (Netherlands), Linde Chart Industries, Inc. (U.S.), Invacare Corporation (U.S.), Smiths Medical (U.S.), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Taiyo Nippon Sanso Corporation (Japan), Inogen, Inc. (U.S.), DeVilbiss Healthcare (U.S.), Essex Industries, Inc. (U.S.), HERSILL, S.L. (Spain), GCE Holding AB (Sweden), Allied Healthcare Products Inc. (U.S.), and Medicop D.O.O. (Slovenia).
Disease conditions like asthma, chronic obstructive pulmonary diseases, cystic fibrosis, and other respiratory agonies cause the patient to be deprived of oxygen. Oxygen therapy devices include a complete focus upon either providing oxygen supplements or liquid concentrates, which can be directly incorporated through nostrils. Prominent driver of oxygen therapy devices is the growing prevalence of lung disorders, an increase in the use of tobacco for smoking, hike in the rate of air pollution in the environment. According to the National Institutes of Health, nearly 12 million adults are diagnosed with COPD in the U.S., and 120,000 people die each year. Furthermore, according to the Global Asthma Network, asthma affects nearly 334 million people across the globe. Hence, oxygen therapy devices are found to obtain a steep rise in the regions, mainly in emerging economies where industrialization is observed during recent years.
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The athletes are also the target market for the therapy since the body uses the maximum level of oxygen at the time of running, exercising, and other physical heavy workouts. The endurance is observed to get improved when athletes are given oxygen therapy for the necessary time. The growing need for such activities is expected to propel the growth of the market in the near future. Also, increasing awareness for the oxygen therapy devices and product advancements are propelling the market growth during the forecast period. Some recent advancement includes, enhanced adjustment knobs for required oxygen concentrations modulation in the pediatric patients, reduced skin irritation issue through latex-free tubes. However, low-cost manufacturers, stringent government guidelines for the quality of oxygen therapy devices, and significant number of product recalls associated with it are expected to impede the growth of the industry.
The COVID-19 impact:
As the number of patients with coronavirus (COVID-19) infection requiring hospital care increases, there will be increases in the use of advanced respiratory support, such as assisted ventilation. Scientists around the world are engaged research about the transmission mechanisms, the clinical spectrum of disease, new diagnostics, and prevention and therapeutic strategies to support new therapies. At present, hyperbaric oxygen is added to the current comprehensive treatments, which is being performed at the hospital for COVID-19 affected patients. The rising application of oxygen therapy is expected to boost the market during the forecast period. It is mainly used for the treatment of patients with COVID-19 as well as at-Risk population to prevent or reduce the effects of COVID-19. Oxygen can be administered non-invasively through a nasal cannula or a simple mask. Moreover, this could be safely done outside a hospital setting. In European countries such as Italy, political and health authorities are making incredible efforts to contain a shock wave that is severely testing the health system. Many uncertainties remain concerning both the virus-host interaction and the evolution of the epidemic, with specific reference to the times when the outbreak will reach its peak. However, before deciding to apply noninvasive therapies such as HFOT or NIV, It is crucial to consider their benefits versus the risk of airborne diffusion. These therapies may result in the widespread dispersion of exhaled air and infectious aerosols.
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Further key findings from the report suggest
- According to the National Institutes of Health, it is estimated that each year in the United States, about 12 million adults have been diagnosed, and also approximately 120,000 people die due to extreme Chronic Obstructive Pulmonary Diseases’ symptoms. Furthermore, the growth in the demand for portable oxygen therapy devices would drive the market.
- According to the Global Asthma Network (GAN), it is estimated that asthma affects nearly 334 million people globally. As the need for therapy for asthma is rising, the demand for Oxygen Therapy Devices is expected to grow in the coming years.
- Use of OxyMask face mask for oxygen delivery includes a small ‘diffuser’ to concentrate and direct oxygen toward the mouth and nose. Its market is expect to rise owing it to its increasing use by the Patients with severe lung disease often require supplemental oxygen.
- According to the World Health Organization, more than 8.9 million Americans were diagnosed with chronic bronchitis, and majority of cases in elderly. The growing incidence of chronic bronchitis is expected to increase the demand for the devices.
- Canned oxygen containers are also brought up in the market as a recent advancement due to the growing need for portable devices and even hike in demand for Home Care Settings for patients suffering from chronic lung disorders. This is expected to fuel market growth in the near future.
- The use of the tubes which are inserted into the nostrils for oxygen pumping directly into the nose causes irritation on the skin area, which is unacceptable. The growing need to ensure that the patient is compatible with the current therapy given would propel the growth of such innovations.
For the purpose of this report, Reports and Data has segmented the Oxygen Therapy Devices market on the basis of product, portability, application, end-use and region:
Product Outlook (Revenue in Million USD; 2017–2027)
- Oxygen Source Equipments
- Oxygen Concentrators
- Oxygen Cylinders
- Liquid Oxygen Containers
- Hyperbaric Oxygen Chambers
- Oxygen Delivery Devices
- Nasal Cannulas
- Oxygen Masks
- Bag-valve masks
- Face masks
- Venturi Masks
- Non- breather masks(adjustable)
Portability Outlook (Revenue in Million USD; 2017–2027)
Application Outlook (Revenue in Million USD; 2017–2027)
- Cystic fibrosis
- Respiratory Distress Syndrome
- Sleep apnea
- Dysplasia Pacific
End-Use Outlook (Revenue in Million USD; 2017–2027)
- Rehabilitation Centers
- Home Health Care
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pcific
- Middle East & Africa
- Latin America
Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017-2027
Chapter 3. Indicative Metrics
3.1. Macro-Economic Indicators
3.1.1. High prevalence of tobacco smoking
3.1.2. Growing demand for home based oxygen therapy
3.1.3. Technological Advancements in oxygen therapy devices
Chapter 4. COVID 19 impact assessment
4.1. Coronavirus Industry Outlook
126.96.36.199. Q1 2020
188.8.131.52. Q2 2020
184.108.40.206. Q3 2020
4.2. Rising Demand for Oxygen Therapy Devices market due to COVID-19 pandemic
4.2.1. Scenario 1: Oxygen Therapy Devices market decreased by 4%
220.127.116.11. Scenario 1 timeline
18.104.22.168. Key indicators for scenario 1
22.214.171.124. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-1
4.2.2. Scenario-2: Oxygen Therapy Devices market grows by 2%
126.96.36.199. Scenario 2 timeline
188.8.131.52. Key indicators for scenario 2
184.108.40.206. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-2
4.2.3. Scenario-3: Oxygen Therapy Devices market grows by 4%
220.127.116.11. Scenario 3 timeline
18.104.22.168. Key indicators for scenario 3
22.214.171.124. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-3
4.2.4. Scenario-4: Oxygen Therapy Devices market grows by 5.5%
126.96.36.199. Scenario 4 timeline
188.8.131.52. Key indicators for scenario 4
184.108.40.206. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-4
4.3. Supply chain stabilization
220.127.116.11. Supply scenario
18.104.22.168. Demand scenario
4.4. Upcoming strategies required to combat the current situation
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