The intense need for in-depth understanding of the “Oxygen Therapy Device Market -Forecast to 2023″ coupled with its high growth potential necessitated the development of this report by Market Research Future. The report specifically focuses on the key industry development trends and forces that shapes the market, but not limited to only commercial nature, but which encompasses a broad range such as social, technological and others. The global market of Oxygen therapy device is expected to grow at approximate 12% CAGR. The market is expected to reach USD 15 billion by 2023 as compared to 8 billion in 2016.
MarketResearchFuture.com adds “Oxygen Therapy Device Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.
Depending on geographic region, Oxygen therapy device market is segmented into four key regions: Americas, Europe, Asia Pacific, and Rest of the world. Where America is the largest market for the oxygen therapy devices because of the various development in the home based therapy. Another reason is the lifestyle of the people in developed countries. Europe is the second largest region where the home based oxygen therapy are adopted. Asia-Pacific is the fastest growing region for the oxygen therapy device market. The major reason can be countries like China and India are changing their trends towards the healthcare and are adopting to the advanced technology in the healthcare industries.
Further the oxygen therapy market is expected to be high in the Asia-Pacific region due to the increasing population, increasing number of the diseases due to the behavioural and lifestyle changes in the people. As well as the countries are spending more on the healthcare, which is leading to the adoption of the advanced technology.
Globally, America is the largest market for Oxygen therapy device market. America accounts for the major market of oxygen therapy device, it is nearly about 45%. Europe is the second largest regions which accounts for the maximum use of the oxygen therapy device. Asia-Pacific is the fastest upcoming and growing market and it is expected to grow by 8% CAGR in the coming years. The countries like India and China are accepting the oxygen therapy device as a home based solution.
There are various local and global players who manufacture devices for oxygen therapy. However we have profiled some of the major players which are Phillips healthcare, Devilbiss Healthcare, Cardinal Healthcare, Respironics, Salter Labs, Masimo Corporation, Carefusion, Teflex, Bio Med, Fisher & Paykel Healthcare Limited, Inogen, O2 Concepts, Smith medicals, Medtronic, 3B Medical, 3M Healthcare and many more.
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Global Oxygen Therapy Device Market – Overview:
Oxygen management is consistently used on the majority of patients admitted the emergency room or ICU with respiratory distress. Symptoms for oxygen administration comprise of, hypoxemia, amplified working of breathing, and hemodynamic insufficiency. The overall goal of oxygen therapy administration is to sustain adequate tissue oxygenation while minimizing cardiopulmonary work. Signs of insufficient oxygenation include tachypnea, accessory muscle work, dyspnea, cyanosis, tachycardia and hypertension. Oxygen administration can also be utilized for chronic administration for patients with advance cardiopulmonary disease and this therapy can be administered during diagnostic assessment.
Presently, there are a wide array of oxygen delivery devices accessible to the respiratory therapist to utilize for oxygen administration. The choice of oxygen delivery devices depends on the patient’s oxygen requirement, effectiveness of the device, dependability, ease of therapeutic application and patient reception. Although design plays a significant role in selection of these devices, clinical assessment and performance eventually regulates how and which device should be selected for a particular patient.
Oxygen delivery devices ranges from a very simple and economical designs to more complex and costly. Oxygen percentage supply can be unreliable or precise depending on the type of administration device selected. Oxygen administration can be provided through low-flow or high-flow systems, with humidity or not, and with a reservoir or not. Observing and monitoring of oxygen delivery efficiency includes arterial blood gas analyses, oxygen saturation monitoring, and clinical assessment. Oxygen can be quantified as a toxic if percentages are delivered in levels which are greater than 60 percent and in the chronic carbon dioxide retention patient population it may diminish the ventilator drive and yield life threatening hypercarbia. It can also cause absorption atelectasis by washing out nitrogen gas when provided through high concentrations.
Furthermore oxygen delivery devices have traditionally been categorized into three basic types based on their design: low-flow, reservoir, and high-flow. Regarding the FiO2 range, oxygen systems can be divided into those indicated for low oxygen delivery (<35%), moderate oxygen delivery (35%-60%) or high oxygen delivery (>60%). Some particular devices can deliver a comprehensive range of oxygen percentages
Moreover oxygen therapy can help to reduce the symptoms of the COPD and hypoxaemia. Some of the COPD cases are responsible for the long term asthma. COPD is more common in men who are exposed to more tobacco and smoking and industrial fumes and pollution this is generally seen in higher income countries, women from lower-middle income countries suffers from the pollution made in kitchen by the burning of charcoal, fuel, gas leakage and others. Hypoxaemia is more common in children below the age group of five. It mainly comes from pneumonia, which contributes the more numbers of deaths. According to WHO, it is estimated that globally three million deaths occurred due to COPD in 2015. This is nearly 5% deaths occurred across the globe in 2015.
The oxygen therapy device market is segmented by the types of products (Non-re-breather mask, Incubators, Continuous positive airway pressure, Liquid oxygen device, Hyperbaric oxygen chamber, Nassal cannula, Cylinder, Concentrators and Oximeter), application (Hypoxia, Heart diseases, Sleeping apnea, Lung diseases, Chronic obstructive pulmonary diseases, Respiratory issues and others) and by end users (Hospital, Clinics, Patients).
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