Global Oxygen Therapy Market: Overview
“The global Oxygen Therapy Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Oxygen therapy is a treatment that provides an extra oxygen to the person suffering from asthma, and other chronic respiratory disorder.
Normally, lungs absorb oxygen from the air you breathe but some conditions can prevent you from getting enough oxygen. In acute lung conditions (without underlying chronic lung disease) like pulmonary embolism, pneumonia, tension pneumothorax, acute severe asthma, pulmonary oedema, or myocardial infarction, a higher concentration of oxygen can be given.
Global Oxygen Therapy Market: Dynamics
Rising geriatric population across the globe and increasing prevalence of respiratory disorder among old age people is resulting in preference for oxygen therapy which is a major factors expected to drive growth of the global market. In addition, rising preference for home healthcare, coupled with availability of advanced infrastructure supporting efficient patient care in developed countries is another factor expected to further support growth of the target market.
Moreover, increasing incidences of pneumonia and other lung diseases, rising percentage of newborn affected with respiratory problems is resulting in increasing adoption of oxygen therapy which is among other factor expected to support growth of the global market. According to WHO, Pneumonia is single largest cause of death among children worldwide, every year an estimated 1.4 Mn children under age of five years’ account for 18% of all deaths.
In addition, increasing government spending on development of healthcare infrastructures, coupled with favorable regulatory scenario is another factor expected to support growth of the market.
However, complex regulatory framework is a major factor expected to hamper growth of the global market. In addition, lack of developed infrastructure in developing countries supporting homecare treatment is another factor expected to challenge growth of the global market.
Increasing investment by major players for technological advancements and development of advanced oxygen delivery systems is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.
Global Oxygen Therapy Market: Segment
Among the product segments, the oxygen delivery devices segment is expected to dominate in the target market over the forecast period.
Among the application segments, the chronic obstructive pulmonary disease segment is expected to contribute significant revenue shares in the target market over the forecast period.
Global Oxygen Therapy Market: Region
The market in North America is expected to dominate in the global market and is expected to continue its dominance over the forecast period. This dominance can be attributed to rising preference for homecare among old age people, well-developed healthcare infrastructure supporting advanced healthcare facilities, and presence of major players operating in the countries in this region. In addition, increasing merger and acquisition activities is expected to further support growth of the market in this region to certain extent.
The market in Asia Pacific is expected to witness faster growth, owing to increasing government expenditure on development of healthcare infrastructure, developing regulatory scenario, and presence of prominent players operating in emerging economies in this region.
Global Oxygen Therapy Market Segmentation
Segmentation by product
- Oxygen Source Equipment
- Oxygen Delivery Devices
Segmentation by application
- Chronic Obstructive Pulmonary Disease
- Obstructive Sleep Apnea
- Respiratory Distress Syndrome
- Cystic Fibrosis
Segmentation by end-user
- Home Healthcare
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- CareFusion Corporation
- GE Healthcare
- Tecno-Gaz SpA
- Philips Respironics, Inc.
- DeVilbiss Healthcare LLC
- MAQUET Medical Systems
- Smiths Medical, Inc.
- Allied Healthcare Products, Inc.
- Fisher & Paykel Healthcare Limited
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