Oxygen therapy market taxonomy
The global Oxygen
Therapy Market is segmented on basis of source equipment, application,
delivery device, and end use. By type of source equipment, the market in oxygen
therapy is segmented into oxygen cylinders, liquid oxygen devices, and oxygen
concentrators. On the basis of device type, the the oxygen therapy industry is
segmented into nasal cannula, face mask, bag valve mask, venturi mask, oxygen
mask, non-rebreather mask, and CPAP devices. On the basis of application, the
global oxygen therapy market is as asthma, cystic fibrosis, COPD, pneumonia,
respiratory distress syndrome, and cardiovascular diseases.
Oxygen therapy is used in
hospitals to cure patients suffering from respiratory diseases such as COPD and
pneumonia, and also cardiovascular diseases fueling growth of the oxygen therapy
market. Oxygen therapy is also used in clinics, rehabilitations centers and
home care settings .
Oxygen therapy is the use of
oxygen as medical intervention to maintain enough oxygen in conditions such as
hypoxia, hypoxemia, and other related conditions. Oxygen may be administered
through a nasal cannula, face mask, or through hyperbaric oxygen chamber. This
therapy helps maintain oxygen level in the blood for treatment of acute and
chronic diseases such as chronic obstructive diseases (COPD), pneumonia, and
asthma. Long-term therapy with oxygen is often useful in people suffering from
COPD. Certain other acute or chronic disease conditions where oxygen therapy is
effective include cystic fibrosis, dysplasia, heart failure, sleep apnea, and
lung disorders.
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Increasing incidence of COPD and
lung disorders drive growth of the oxygen therapy market across the globe
Factors such as high prevalence
of respiratory related diseases, growing aging population, and increasing
vulnerability of the populace to respiratory conditions are fueling growth of
the oxygen therapy market in North America. According to the Center for
Diseases Control and Prevention (CDC), around 15.7 million people in the U.S.
were diagnosed with COPD in 2013. Other factors driving demand for oxygen
therapy include innovation in portable oxygen concentrators, rise in number of
untreated sleep apnea cases, favorable reimbursement scenario, growing demand
for oxygen filling devices, good medical facilities, and high investment in
research and development activities. The European market in oxygen therapy is
also gaining traction in recent times, mainly fueled by increasing number of
patients suffering from respiratory diseases and favorable government
initiatives to facilitate respiratory care.
According to the World Health
Organization, over 90% of COPD deaths occur in low income and middle income
countries. Therefore, the oxygen therapy market is expected to grow
substantially in African, Asian, and Latin American countries due to high
prevalence of COPD and deaths due to the disease. Furthermore, increasing
awareness among medical facilities, increasing government investment in
healthcare facilities, and availability of low cost treatment is projected to
drive demand for oxygen therapy in emerging economies.
Alarming increase in number of
lung damage cases increasing demand for oxygen therapy for effective treatment
According to World Health
Organization (WHO) over 3 million people die each year due to COPD. Increasing
use of oxygen therapy in treatment of diseases such as COPD, asthma,
obstructive sleep apnea, and respiratory distress syndrome is a supportive
prevalent trend in the market. Long-term oxygen therapy for patients suffering from
chronic lung disease can help improve quality and length of life, in turn
creating a favorable environment for the market. Increasing risk of lung damage
due to tobacco consumption, occupational hazards, and pollution would further
augment market growth over the following decade.
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Global players engaged in the
oxygen therapy market
There are several medical device
companies, both local player and global ones, engaged in manufacture of oxygen
therapy devices. Some of the prominent players are Respironics, Inc. (a Philips
company), Fisher & Paykel Healthcare Limited, Teleflex Incorporated,
Invacare Corporation, AirSep Corporation, CareFusion Corporation, DeVilbiss
Healthcare, MAQUET Holding B.V. & Co. KG, and ResMed, Inc.
Key Developments
Major companies in the market are
focused on different business strategies such as product launches, in order to
expand product portfolio and gain competitive edge in the market. For instance,
in September 2018, CAIRE, Inc., a manufacturer of oxygen therapy solutions,
launched Freestyle Comfort, a portable oxygen concentrator. This novel device
will feature five pulse settings and innovative comfort curves.
Various leading hospitals are
focused on different business strategies such as product and treatment
launches, in order to offer effective oxygen therapy solutions to patients. For
instance, in April 2018, Amandeep Hospital, Amritsar, India launched a novel
treatment therapy called Hyerbaric Oxygen Therapy (HBOT). This therapy will be
used in wound healing, especially for diabetic foot and non-healing wounds.
Key players in the market are
focused on different business strategies such as product launches, in order to
expand their product portfolio. For instance, in April 2019, Inogen, Inc., a
U.S.-based medical technology company, launched Innovative Inogen One G5, which
is a portable oxygen concentrator. This novel respiratory product can be used
for home settings and will meet the needs of oxygen therapy patients.
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