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A recent report published by Infinium Global Research on oxygen therapy devices market provides an in-depth analysis of segments and sub-segments in global as well as regional oxygen therapy devices market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional oxygen therapy devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global oxygen therapy devices market. According to the report the global oxygen therapy devices market is projected to grow at a CAGR of 5.4% over the forecast period of 2018-2024.
Room air contains approximately 21% oxygen. This is normally enough for an individual to maintain adequate blood oxygen levels through normal respiration. However, some medical conditions result in lower oxygen saturation levels in the tissues of the body (hypoxia). In many cases, this can be overcome by supplying oxygen to the patient at a higher concentration than the ambient air contains. In addition, oxygen is often used during several surgical procedures. Oxygen can be delivered to the patient through tubing attached to a nasal cannula (prong), face mask, a face tent or a tracheostomy mask.
Increasing incidence of respiratory, breathing, lung diseases due to changing environment, lifestyle and food consumption habits would lead to increasing demand for cost-effective, rapid and accurate oxygen therapy devices. In addition, increasing awareness levels and demand for personalized & portable devices for emergency oxygen delivery is contributing to market growth. Also, improved reimbursement policies in many countries have propelled the market growth. Furthermore, rising chronic obstructive pulmonary disease (emphysema), Neuromuscular and chest wall disorders, Cystic fibrosis, morbid obesity are expected to widen the consumer base and work as a driver for oxygen therapy device market in the future. However, stringent safety regulations are the restraining factor of this market.
North America accounted for the highest market share in the oxygen therapy devices market. Asia-Pacific region is expected to be the fastest growing CAGR region during the forecast period. The presence of a large population base and rising incidence of chronic diseases of respiration and lung diseases in these countries. Also, increasing demand for global medical facilities, raising awareness about the use of oxygen therapy device among physicians or doctors, and growth in the demand for diagnostics are some major factors driving the growth in this region.
The report on global oxygen therapy devices market covers segments such as product types, applications, and end user. On the basis of product types the global oxygen therapy devices market is categorized into oxygen source equipment and oxygen delivery devices. On the basis of applications the global oxygen therapy devices market is categorized into the chronic obstructive pulmonary disease (COPD), asthma, obstructive sleep apnea, respiratory distress syndrome (RDS), cystic fibrosis and pneumonia. On the basis of end user the global oxygen therapy devices market is categorized into home care settings, hospitals, and ambulatory surgical centers & physician offices.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China.
The report provides profiles of the companies in the global oxygen therapy devices market such as, Teleflex Incorporated, Invacare Corporation, Chart Industries, Inc., Fisher & Paykel Healthcare Corporation Limited, Inogen, Inc., Philips Healthcare (A Division of Koninklijke Philips N.V.), Linde Healthcare (A Division of Linde Group), Becton, Dickinson and Company, Taiyo Nippon Sanso Corporation and Smiths Medical (A Division of Smiths Group PLC).
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global oxygen therapy devices market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of oxygen therapy devices market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the oxygen therapy devices market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the oxygen therapy devices market to understand the present and future trends in this market and formulate their strategies accordingly.
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