Global Oxygen Therapy Equipment Market, By Product Type (Bag-Valve Mask, Oxygen Source Equipment), Portability (Portable, Stationary), Application (Asthma, Pneumonia, Chronic Obstructive Pulmonary Disease (COPD), Respiratory Distress Syndrome, Cystic Fibrosis, Others), End User (Hospitals and Clinics, Ambulatory Surgical Center, Home Care Settings, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights : Global Oxygen Therapy Equipment Market
Data Bridge Market Research analyses that the oxygen therapy equipment market to be grow at a CAGR of 9.3% in the forecast period of 2022-2029 and is expected to reach the USD 3.34 billion by 2029.
Oxygen therapy is a treatment option for those who don't get enough oxygen in their bodies. Because oxygen is required for various cell metabolisms and tissue oxygenation is crucial for proper physiological function, oxygen therapy is a medical intervention which utilizes oxygen gas to offer acute as well as chronic patient care. Because of its supportive relief and complimentary components, oxygen therapy equipment is used to treat a wide range of respiratory disorders. It has become a crucial part of the appropriate management of a variety of disorders, including respiratory pain condition, chronic obstructive pulmonary disease, asthma and others. Benefits of oxygen therapy include increased energy, improved breathing, and the prevention of heart failure.
The rise in the prevalence of respiratory diseases is the major driver accelerating the oxygen therapy equipment market’s growth rate. Another significant factor resulting in the expansion of market is the surging number of geriatric population. Furthermore, growing preference towards home-based oxygen therapy and technical innovations are the major drivers that will enhance the growth of market. Other significant factor such as increase in the shift from traditional cylinders to portable concentrators will cushion the market growth rate. Additionally, early diagnosis of respiratory disorders and growing incidences of tobacco smoking are the market drivers and will further influence the growth rate of oxygen therapy equipment market.
Moreover, the rise in utilization of telemonitoring and telemedicine will provide beneficial opportunities for the oxygen therapy equipment market growth. Also, the growing focus of leading industry players on emerging markets will expand the demand of oxygen therapy equipment market in the future.
However, high cost associated with oxygen concentrators and side effects involving nasal dryness and skin irritation lined with the therapeutic utilization of these devices are the factors that will obstruct the market growth. The strict regulatory guidelines leading delays in product approval will pose a challenge on the growth of oxygen therapy equipment market. Also, the presence of low-cost alternatives by local manufacturers and medicare reimbursement rate cuts for home oxygen therapy will act as market restraint and further impede the growth rate of market.
This oxygen therapy equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on oxygen therapy equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Oxygen Therapy Equipment Market Scope and Market Size
The oxygen therapy equipment market is segmented on the basis of product type, probability application and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on the product type, the oxygen therapy equipment market is segmented into bag-valve mask and oxygen source equipment. Further on the basis of bag value mask the oxygen therapy equipment market is sub-segmented into nasal cannula, oxygen mask, venturi mask and non-rebreather mask. Oxygen source equipment is further sub-segmented into liquid oxygen device, oxygen concentrator and oxygen cylinder.
- Based on the portability, the oxygen therapy equipment market is segmented into portable and stationary.
- Based on the application, the oxygen therapy equipment market is segmented into asthma, pneumonia, chronic obstructive pulmonary disease (COPD), respiratory distress syndrome, cystic fibrosis and others. The chronic obstructive pulmonary disease (COPD) segment is dominating the oxygen therapy equipment market during the forecast period of 2022-2029 because of increasing number of patients suffering from the latter disease and rising demands for clinical urgency.
- Based on end user, the oxygen therapy equipment market is segmented into hospitals and clinics, ambulatory surgical center, home care settings and others. The hospitals and clinics segment dominates the market during the forecast period mentioned above due to introduction of technically advanced medical equipment present on-premises together with the addition of various range of facilities in controlled environment.
Oxygen Therapy Equipment Market Country Level Analysis
The oxygen therapy equipment market is analysed and market size insights and trends are provided by country, product type, probability, application and end user as referenced above.
The countries covered in the oxygen therapy equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the oxygen therapy equipment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing awareness about the benefits associated with oxygen therapy in hospitals and increasing number of end-users in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the growing penetration of international players and increasing research and development activities in this region.
The country section of the oxygen therapy equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The oxygen therapy equipment market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for oxygen therapy equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the oxygen therapy equipment market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Global Oxygen Therapy Equipment Market Share Analysis
The oxygen therapy equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to oxygen therapy equipment market.
Some of the major players operating in the oxygen therapy equipment market are Linde plc, Invacare Corporation, Chart Industries, Koninklijke Philips N.V., BD, Smiths Medical, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, Drägerwerk AG & Co. KGaA, Inogen, Inc., Messer Medical, HERSILL, GCE Group, Allied Healthcare Products, Inc., DeVilbiss Healthcare LLC, CAIRE Inc., Medicop, Essex Industries, Inc., and TAIYO NIPPON SANSO CORPORATION, among others.