Market scenario-
The Oxygen Therapy Equipment Market is witnessing a significant
surge in demand, driven primarily by the growing prevalence of respiratory
diseases and advancements in healthcare infrastructure. Market Research Future
(MRFR's) latest report on the global oxygen therapy
equipment market size projected to grow at a CAGR of 5.8%
over the forecast period of 2023-2032. Among the various
segments within this market, oxygen therapy delivery devices stand out as
crucial components. These devices, including oxygen masks, nasal cannulas, and
oxygen concentrators, play a pivotal role in delivering supplemental oxygen to
patients with respiratory ailments. The increasing adoption of portable and
user-friendly oxygen therapy delivery devices is reshaping the market
landscape, catering to the needs of patients requiring oxygen therapy both in
clinical settings and at home. Technological innovations, such as lightweight
and compact designs, enhanced battery life, and improved oxygen delivery
efficiency, are further propelling the growth of this segment.
Moreover, the rising geriatric population, coupled with the
prevalence of chronic obstructive pulmonary disease (COPD) and other
respiratory disorders, is fueling the demand for oxygen therapy
delivery devices. Healthcare providers are
increasingly recognizing the benefits of these devices in managing respiratory
conditions effectively, thereby driving market expansion. Additionally, the
advent of telemedicine and home healthcare services has bolstered the adoption
of oxygen therapy delivery devices, enabling remote monitoring and management
of patients' oxygen therapy needs. However, challenges related to reimbursement
policies and stringent regulatory frameworks may pose obstacles to market
growth. Nonetheless, with continuous research and development efforts aimed at
improving device efficacy and patient comfort, the oxygen therapy equipment
market, particularly the segment of oxygen therapy delivery devices, is poised
for sustained expansion in the coming years.
Segmentation
The oxygen therapy equipment market has been segmented based on
product, portability, application, and end-users.
By product, the oxygen therapy equipment market has been segmented
into oxygen source equipment, oxygen delivery devices. The oxygen source
equipment segment has been further segmented into oxygen concentrators, liquid
oxygen devices, and oxygen cylinders. The oxygen concentrators sub-segment has
been further segmented into portable oxygen concentrators and fixed oxygen
concentrators. The oxygen delivery devices segment has been further segmented
into bag valve masks, venturi masks, oxygen masks, non-rebreather masks, nasal
cannulas, and other devices.
By portability, the oxygen therapy equipment market has been
segmented into stationary oxygen therapy devices and portable oxygen therapy
devices.
By application, the oxygen therapy equipment market has been
segmented into cystic fibrosis, asthma, COPD, pneumonia, respiratory distress
syndrome, and other diseases.
By end-user, the oxygen therapy equipment market has been
segmented into home care settings, hospitals, ambulatory surgical centers &
physician offices, and others.
Competitive Landscape
Messer Medical Austria GmbH, Esex Industries, Inc., Linde
Healthcare (A Division of Linde Group), Allied Healthcare Products Inc., Fisher
& Paykel Healthcare Corporation Limited, Medicop D.O.O, Taiyo Nippon Sanso
Corporation, Teleflex Incorporated, Invacare Corporation, Becton Dickinson and
Company, Smiths Medical (A Division of Smiths Group PLC), Drägerwerk AG &
Co. KGaA, and Philips Healthcare (A Division of Koninklijke Philips N.V.) are
the oxygen therapy
equipment companies in the globe .
Regional Analysis
Region-wise, the oxygen therapy equipment market has been
segmented into the Americas, the Middle East & Africa (MEA), Asia Pacific
(APAC), and Europe.
The Americas is at the forefront of the global oxygen therapy
equipment market. The presence of a massive patient population suffering from
diseases such as COPD, pneumonia, and other respiratory disorders induce high
demand for oxygen therapy equipment in the region. High healthcare expenditure
in the developed economies of the region combined with favorable reimbursement
policies is spurring the growth of the market. The US and Canada are the key
contributors to the Americas market.
Europe is following the Americas' lead. Factors such as high
government support and increasing incidence rate of respiratory devices are
boosting the growth of the market.
The APAC oxygen therapy equipment market is likely to be driven by
factors such as the surging prevalence of respiratory disorders, rising
government support, high healthcare expenditure in the emerging economies,
increased adoption rate, and improving reimbursement landscape.
The MEA market accounts for the least share of the global oxygen
therapy equipment market. The majority of the market share is held by the
Middle East, where a developed sector and high healthcare expenditure by the
GCC countries is boosting the market growth. Concurrently, low healthcare
penetration, and poor economic condition hinder the growth of the market.
Related reports-
Saliva Collection and
Diagnostics
No comments:
Post a Comment