North America Oxygen Therapy Devices Market was worth USD 0.84 billion in 2016 and estimated to be growing at a CAGR of 5.51%, to reach USD 1.1 billion by 2021.
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. Furthermore, oxygen therapy is applicable to numerous diseases, for example, asthma, respiratory distress syndrome, and obstructive sleep apnoea.
Long-term oxygen treatments in patients suffering from chronic lung disease are believed to enhance the length and the quality of life.
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The growth of the North-American oxygen therapy market is mainly driven by the wide range of respiratory diseases and disorders caused by the high level of air pollution and poor lifestyle choices. These are primarily characterized by low oxygen levels in the body, which is also known as hypoxemia which eventually leads to damage to tissue cells, causing shortness of breath, poor quality of life, and strain on the heart.
Increasing number of government initiatives to raise awareness about the diseases and the treatments available for it has further aided the cause for the North American oxygen therapy market. Initiatives such as National Asthma Education and Prevention Program (NAEPP), National Asthma Control Initiative (NACI) are aimed at offering result-oriented solutions for ensuring asthma control in the U.S.
The North America oxygen therapy devices market is segmented into product type, application and end user. On the basis of product, it is segmented into Oxygen Source Equipment, Cylinders, Concentrators, Liquid Oxygen Devices, PAP, Oxygen Delivery Device, Masks, Nasal Cannula, Venturi Mask, Non-Rebreather Mask, Bag Valve and CPAP.
Oxygen source equipment are expected to grow at 11% CAGR It is attributed to the consolidation of this equipment in the extensive variety of uses as the first line of treatment. On the basis of application, it is segmented into Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnoea, Respiratory Distress Syndrome, Cystic Fibrosis, Pneumonia.
Chronic obstructive pulmonary disease holds the largest share of the application segment and it is anticipated to grow lucratively at a CAGR of over 10.5% over the next five years. This is due to increasing popularity of supplemental administration in conjunction with first line treatments available for COPD.
Moreover, this treatment includes faster response rates, reliability and portability, and above all improves chances of survival. On the basis of end use it is segmented into Home Healthcare and Hospitals.
Home health care dominates the end-use segment, owing to the rise in elderly population coupled with increasing number of patients with low mobility and long-term care requirement in conditions such as Alzheimer’s disease.
The North America region is geographically segmented into U.S. and Canada. The U.S. is expected to lead the regional market due to rising instances of COPD among its citizens.
Technological advances and high awareness about the availability of treatment for a number of chronic respiratory diseases are expected to drive the market in the coming years.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the oxygen therapy devices market in this region are Chart Industries Inc., Invacare Corporation, Becton, Dickinson and Company, Smiths Medical, Teleflex Incorporated, Inogen, Inc., DeVilbiss Healthcare, Essex Industries, Inc., Allied Healthcare Products Inc.
and Respan Products Inc.
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