Oxygen Therapy devices are useful specially for people suffering from severe COPD or cystic fibrosis who suffer from chronically low oxygen levels in their body. Advantages of oxygen therapy also include increased mental stamina, aversion of heart failure, and an enhanced breathing pattern. The administration and supply of supplementary oxygen have turned into an indispensable part in the management of numerous diseases.
The Global Oxygen Therapy Devices Market is anticipated to grow at a 5.90% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 2.10 bn in 2016 and is relied upon to achieve USD 2.97 bn by 2021. Technological advancements in respiratory care services and a rise in the inclination of patients for convenient home oxygen therapy device are key driving factors for oxygen therapy devices market.
Different oxygen treatments are utilized to treat various respiratory infections due to their supplementary and definitive role. Advantages of oxygen therapy also include increased mental stamina, aversion of heart failure, and an enhanced breathing pattern.
Global oxygen market is driven by increasing application of oxygen supply. The administration and supply of supplementary oxygen have turned into an indispensable part in the management of numerous diseases.
Oxygen therapy is applicable to numerous diseases, for example, chronic obstructive pulmonary disease, asthma, respiratory distress syndrome, and obstructive sleep apnea. Long-term oxygen treatments in patients suffering from chronic lung disease are believed to enhance the length and the quality of life, in this way contributing towards the swift development of the global oxygen therapy devices market.
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The growth in different respiratory diseases is expected to be the driving force in the development of the global oxygen therapy devices market in the coming years. Be that as it may, poor compensation and constantly changing regulations related to oxygen therapy devices are expected to hamper the growth of the global oxygen therapy devices market in near future.
Despite the fact that the global oxygen therapy devices market is expecting hindrances due to a couple of restrictions, it will discover new development opportunities in growing economies. Furthermore, government's initiative towards improving respiratory care and an increase in government funding for the introduction of new medical devices are predicted to profit the global oxygen therapy devices market.
On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. In 2016, the major share of oxygen therapy market’s revenue was held by North America at staggering 40.0%.
High R&D investments and an increase in the number of product endorsements have been the key growth drivers responsible for the North America’s largest share of the market. It is followed by Europe in terms of revenue share owing to the presence of favorable government initiatives for improving respiratory care, such as European Committee for Hyperbaric Medicine (ECHM), involved in promoting awareness pertaining to the treatment.
The Asia-Pacific region is expected to offer a lucrative market in the future due to the increasing elderly population who require home-based oxygen therapy. Furthermore, a rise in healthcare expenditure in emerging economies such as China and India will further fuel the market.
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Scope of the report:-
- Global, regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges(DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensivePESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, usingPorter’s five forces analysis for analyzing the level of competition and business strategy development
- A comprehensive list ofkey market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Anexecutive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along withInvestment opportunities to provide both individuals and organizations a strong financial foothold in the market
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