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Global Oxygen Therapy Equipment Market it is anticipated to reach at market value of US$ 214.8 Mn by 2027
Bizizz Market Research has recently published a research report, “Oxygen Therapy Equipment Market By Application Type (COPD (Chronic Obstructive Pulmonary Disease), Asthma, Cystic Fibrosis, Respiratory Distress Syndrome, Pneumonia and Other Application), Payload (Stationary equipment and Portable equipment), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Oxygen Therapy Equipment Market was valued at US$ XX Mn in 2018 and it is anticipated to reach at market value of US$ 214.8 Mn by 2027, witnessing a CAGR of 7.7 % during the forecast period. Key drivers of the market are increased cases of respiratory diseases along with the rising awareness among the healthcare institutions in context of its advantages.
Globally there is a rise in the number of cases associated with respiratory diseases, that could be due to an increase of tobacco smoking and surge in old age population are important factors accelerating the market growth of oxygen therapy equipment globally. Through oxygen therapy there is a greater chance of survival of COPD patients and could reduce their complexities and symptoms are the contributing factors expected to drive market growth worldwide. Increasing preference for portable oxygen therapy devices are standalone equipment’s that are driving its market growth in the target market. The home based oxygen therapy with a growth in the utilization of tele-monitoring coupled with telemedicine propels the market growth for the oxygen therapy devices market during the forecast period.
The Oxygen Therapy Equipment market is anticipated to register a CAGR of over 7.7% during the forecast period.
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By Application, COPD segment held a prominent share in Global Oxygen Therapy Equipment Market in 2018.
The COPD application has a significant market share for the Oxygen Therapy Equipment that is expected for a highest growth globally that is contributed through rising rate of tobacco smoking with a rise in the occurrence of respiratory diseases contributed by the growth of geriatric population are important drivers this includes asthma and chronic obstructive pulmonary disease (COPD). Cystic fibrosis (CF) is a chronic inherited disease that increases the thick mucus generated in the lungs, pancreas, and other organs that are caused through respiratory diseases among the people.
North America is Anticipated to Dominate the Global Oxygen Therapy Equipment Market during the Forecast Period.
The North America market is projected to lead the global market for oxygen therapy devices contributed through increasing geriatric population in this region, rising clinics & hospitals, are increasing awareness with a rise in the demand of oxygen therapy devices. Moreover, a rise of investments in the healthcare and associated healthcare expenditures, with plunge air pollution levels in China and India are substantiating the market growth in the Asia-Pacific region.
Global Oxygen Therapy Equipment market was moderately consolidated with key players accounting for significant share in 2018. The companies are increasingly expanding their market presence through market diversification strategies contributing in market competency.
Prominent players operating in the Global Oxygen Therapy Equipment Market are: Linde Healthcare, Chart Industries, Inc., Essex Industries, Inc., Becton, Dickinson and Company, Smiths Medical, Invacare Corporation, Teleflex Incorporated, Fisher & Paykel Healthcare Corporation Limited, Respan Products Inc., DeVilbiss Healthcare, Inogen, Inc., Messer Medical Austria GmbH, Philips Healthcare, Allied Healthcare Products Inc., and Medicop D.O.O., among others.
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