Facts & Factors has published a new report titled “Oxygen Therapy Market By Oxygen Source Equipment (Oxygen Concentrators, Liquid Oxygen Systems, and Compressed Oxygen Cylinders), By Oxygen Delivery Devices (Hospitals & Clinics, Retail Outlets, Banks & Financial Institutions, Government Offices, Telecom Service Center, Self Service Restaurants, and Airline Check-in Counters), By End Users (Hospitals & Clinics, Rehabilitation Centers, and Home Healthcare), and By Application (COPD, Pneumonia, Asthma, Respiratory Distress Syndrome (RDS), Sleep Apnea, and Cystic Fibrosis): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global oxygen therapy market is predicted to be valued at approximately USD million in 2018 and is expected to reach a value of around USD million by 2027, at a CAGR of around % between 2019 and 2027.
Oxygen therapy is utilized for those subjects who are not able to get enough amount of oxygen in a natural way owing to myriad rebuking ailments like COPD, sleep apnea, asthma, and others. Breathing diseases adversely impacts the energy level and normal body operations. Moreover, the reduced levels of oxygen led to low energy levels and many other conditions. In order to improve the breathing activity of a patient having breathing ailments, it is necessary to get additional oxygen via an oxygen face mask and nasal cannula.
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Growing incidences of breathing disorders to steer the market trends
The rise in the number of respiratory disorders including COPD and asthma is predicted to steer the expansion of the oxygen therapy industry during the forecast period. According to the data statistics offered by WHO in 2017 nearly 235 million persons across the globe were impacted due to Asthma.
In addition to this, the rise in the aging population susceptible to respiratory disorders as well as low immunity will proliferate the market demand over the forecast timeline.
Furthermore, technological breakthroughs, favorable compensation policies, and massive funding of research & development activities are predicted to boost the market growth prospects over the forecast timeline. Nonetheless, huge development charges of new equipment are a key factor that is likely to hinder the expansion of the oxygen therapy industry over the forecast timeline. Apart from this, consistently altering rules and strict policies are also anticipated to obstruct the expansion of the oxygen therapy industry during the period from 2019 to 2027. However, strategic alliances made by the major participants are anticipated to produce new growth avenues for the industry over the forecast timespan. In addition to this, new product introductions are expected to help market scape up new heights over the forecast period.
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Oxygen concentrators to lead the oxygen source equipment segment by 2027
The growth of the oxygen concentrators segment is credited to the massive usage of the product over the forecast timeline.
Home healthcare segment to record the highest CAGR over the forecast period
The home healthcare segment is predicted to register the highest CAGR of over 12% during the period from 2019 to 2027. The growth of the segment is attributed to the massive use of the product in the home healthcare sector during the forecast timeline.
North America to dominate the overall market growth in terms of revenue
The growth of the market in North America during the forecast timeline is owing to massive research & development activities pertaining to oxygen therapy across countries like the U.S.
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Some of the key players in the market include 3M, DeVilbiss Healthcare, Fisher & Paykel Healthcare Limited, OxyBand Technologies, Koninklijke Philips N.V., Invacare Corporation, MAQUET Holding B.V. & Co. KG., General Electric Company, Inotec AMD Limited, Teleflex Incorporated, Nidek Medical Products Inc., O2 CONCEPTS, LLC, Essex Industries, Inc., VitalAire, Inogen, ResMed, and Chart.
This report segments the Oxygen Therapy market as follows:
Oxygen Therapy Market: By Oxygen Source Equipment Segment Analysis
- Oxygen Concentrators
- Liquid Oxygen Systems
- Compressed Oxygen Cylinders
Oxygen Therapy Market: By Oxygen Delivery Devices Segment Analysis
- Hospitals & Clinics
- Retail Outlets
- Banks & Financial Institutions
- Government Offices
- Telecom Service Center
- Self Service Restaurants
- Airline Check-in Counters
Oxygen Therapy Market: By End Users Segment Analysis
- Hospitals & Clinics
- Rehabilitation Centers
- Home Healthcare
Oxygen Therapy Market: By Application Segment Analysis
- Respiratory Distress Syndrome (RDS)
- Sleep Apnea
- Cystic Fibrosis
Oxygen Therapy Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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