The
increasing prevalence of major respiratory diseases, such as Chronic
Obstructive Pulmonary Disease (COPD), asthma, and obstructive sleep
apnea, is a high impact rendering driver of oxygen therapy market.
As per the estimates of the WHO, a consequential global rise in the
prevalence of asthma and other respiratory disorders, is expected to
heightened clinical urgency to treat the aforementioned disorders and is
expected to boost the demand for oxygen therapy as the first line
treatment and as a supplement in various applications.
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Moreover, technological advancements are anticipated to provide
growth platforms in a wide range of new applications such as cancer and
diabetes; for instance, incorporation of flow sensors in delivery
devices to conserve and regulate the flow enabling greater patient
comfort and outcomes.
Furthermore, the increasing focus on home healthcare solutions
coupled with the development of portable delivery devices has a major
impact on the oxygen therapy market. These aforementioned factors are
expected to serve as key contributing factors towards the growth of the
oxygen therapy market over the forecast period.
Further key findings from the study suggest:
The oxygen source equipment segment dominated the product segment in
terms of revenue share in 2015owing toits high usage rate and wide scale
availability in various forms such as liquid compressed gas, and
concentrators. On the other hand, oxygen delivery devices are expected
to grow at a lucrative rate being an indispensable part of the oxygen
therapy set-ups, thereby contributing towards the overall oxygen therapy
market growth during the forecast period.
Oxygen concentrator spear headed the source equipment market segment
owing to rising popularity and adoption of Portable Concentrators in
emergency medicine, ambulatory, and home settings.
Oxygen masks dominated delivery device market segment at over USD
800.0 million in 2015, as a consequence of being the indispensable unit
of the delivery system and greater availability of specialty masks as
per the patient's physiological needs
Chronic Obstructive Pulmonary Disease (COPD) held a substantial
market share of application segment and constituted for over 37.0%of the
overall revenue share, owing to presence of unmet needs pertinent to
COPD treatment, thereby propelling the demand for oxygen therapy market
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Home Healthcare is anticipated to grow lucratively at CAGR of 11.8%
owing to associated benefits such as long-term cost efficiency and
increased mobility, propelling the demand over the forecast period.
Moreover, presence of organizations such American Association for
Homecare to promote awareness and strengthen home healthcare are
expected to provide growth platform in future to oxygen therapy market
The key players in this industry include CareFusion, Corp., Tecno-Gaz
Industries, GE Healthcare, Hersill, DeVilbiss Healthcare, Philips
Respironics, Inc., MAQUET Medical Systems, Allied Healthcare Products,
Smiths Medical, Fisher & Paykel Healthcare Limited, Invacare
Corporation and Teleflex Incorporated
These industry players are adopting strategies such as new product
development, technological innovation, and strategic collaborations,
such as mergers &acquisitions, to capitalize their industry share.
For instance, in May 2015, Fisher & Paykel Healthcare launched AIRVO
nasal high-flow system to expand its product portfolio and capture
greater share of oxygen therapy market.
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