The need of the hour is to obtain a relief therapy for the lungs related diseases, Government awareness and initiatives for improving quality of life, increase in incidences of diseases are key factors contributing to high CAGR in the forecast period.
Market Size – USD 3,016.8 Million in 2024, Market Growth – CAGR of 8.3%, Market Trends– Advancements in Oxygen Therapy Devices platform and improved regulations for therapy.
According to the current analysis of Reports and Data, the global Oxygen Therapy Devices market was valued at USD 3,016.8 Million in 2024 and is expected to reach USD 5,746.7 Million by the year 2028, at a CAGR of 8.3%. Oxygen Therapy Devices are used to provide an oxygen supplement to the patients experiencing deprivation of oxygen in their bodies.
Disease conditions like asthma, chronic obstructive pulmonary diseases, cystic fibrosis, and other respiratory agonies cause the patient to be deprived of oxygen. Oxygen therapy devices include a complete focus upon either providing oxygen supplements or liquid concentrates, which can be directly incorporated through nostrils. Prominent driver of oxygen therapy devices is the growing prevalence of lung disorders, an increase in the use of tobacco for smoking, hike in the rate of air pollution in the environment. According to the National Institutes of Health, nearly 12 million adults are diagnosed with COPD in the U.S., and 120,000 people die each year. Furthermore, according to the Global Asthma Network, asthma affects nearly 334 million people across the globe. Hence, oxygen therapy devices are found to obtain a steep rise in the regions, mainly in emerging economies where industrialization is observed during recent years.
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The global Oxygen Therapy Devices market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.
The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.
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Competitive Landscape:
The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.
Leading companies operating in the global Oxygen Therapy Devices market
Dickinson and Company (U.S.), Philips Healthcare (Netherlands), Linde Chart Industries, Inc. (U.S.), Invacare Corporation (U.S.), Smiths Medical (U.S.), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Taiyo Nippon Sanso Corporation (Japan), Inogen, Inc. (U.S.), DeVilbiss Healthcare (U.S.), Essex Industries, Inc. (U.S.), HERSILL, S.L. (Spain), GCE Holding AB (Sweden), Allied Healthcare Products Inc. (U.S.), and Medicop D.O.O. (Slovenia).
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The report further sheds light on market segmentation and regional bifurcation.
Oxygen Therapy Devices Market Segmentation:
Product Outlook (Revenue in Million USD; 2017–2028)
- Oxygen Source Equipments
- Oxygen Concentrators
- Oxygen Cylinders
- Liquid Oxygen Containers
- Hyperbaric Oxygen Chambers
- Oxygen Delivery Devices
- Nasal Cannulas
- Oxygen Masks
- Bag-valve masks
- Face masks
- Venturi Masks
- Non- breather masks(adjustable)
- Others
Portability Outlook (Revenue in Million USD; 2017–2028)
- Standalone/Table-top
- Portable
Application Outlook (Revenue in Million USD; 2017–2028)
- Asthma
- COPD
- Pneumonia
- Cystic fibrosis
- Respiratory Distress Syndrome
- Sleep apnea
- Dysplasia Pacific
- Others
End-Use Outlook (Revenue in Million USD; 2017–2028)
- Hospitals
- Clinics
- Rehabilitation Centers
- Home Health Care
- Others
Key Regional Markets:
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pcific
- Middle East & Africa
- Latin America
- Brazil
Key findings in the report:
- Information about key trends, technological developments, growing focus on drug discovery and investments in research and development activities
- Detailed insights about manufactures, product portfolios, pricing analysis and financial pricing
- Technological developments and detailed analysis in the volatile competitive landscape.
- New strategies adopted by new and emerging market players
- Estimation about manufactures, sales and import and export dynamics
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