Luton, Bedfordshire, United Kingdom, July 23, 2024 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Oxygen Therapy Equipment Market
The global oxygen therapy equipment market is projected to reach USD 7.75 billion by 2030, growing at a CAGR of 8.15% from 2022 to 2030.
Patients with respiratory disorders like COPD and asthma can receive oxygen therapy as a medical intervention to help them get enough oxygen. For the treatment of acute symptoms such as low blood oxygen levels, carbon monoxide poisoning, and cluster headaches, it is indispensable. In order to prevent problems later on, oxygen treatment can also be utilized to keep blood oxygen levels constant while under anesthesia. It is especially helpful for severe COPD or persistent hypoxemia associated with cystic fibrosis.
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Oxygen can also be administered in high pressure environments, such in a hyperbaric chamber or during endotracheal intubation. Face masks are frequently used in hospitals to control oxygen saturation levels. Considering how common acute and chronic diseases are becoming, oxygen treatment equipment has to be purchased right away.
Oxygen Therapy Equipment Market Analysis
Oxygen Source Equipment and Oxygen Delivery Devices make up the Oxygen Therapy Equipment Market. 2017 is predicted to be a dominant year for the oxygen source equipment market worldwide due to rising respiratory ailment rates and advances in technology. Large oxygen flows—typically more than 6 litres per minute—are handled with liquid oxygen. Transportable oxygen tanks are frequently found in emergency packs and carts.
The categories of oxygen delivery devices include bag-valve masks, non-rebreather masks, venturi masks, oxygen masks, and nasal cannulas. When a patient is experiencing acute respiratory distress, oxygen masks are frequently utilised in conjunction with non-invasive positive pressure ventilation (NIPPV). Technology advancements have led to an increase in the use of high-flow oxygen masks.
The market for oxygen treatment equipment is divided into segments based on medical conditions such as pneumonia, respiratory distress syndrome, cystic fibrosis, asthma, and COPD. Emphysema, another name for COPD, is a lung condition that also causes inflammation and stiffness in the muscles. All ages are affected by asthma, which can lead to tightness in the chest, coughing, and wheezing.
The hereditary disorder known as cystic fibrosis is characterised by a buildup of thick, sticky mucus that deteriorates the respiratory system and causes ongoing digestive problems. Babies with respiratory distress syndrome (RDS), a disorder marked by underdeveloped lungs at birth, need extra oxygen and help breathing. Sneezing, coughing, or talking can release respiratory droplets into the air, which can transmit pneumonia. Treating these disorders is the primary use of oxygen therapy equipment.
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The sector is experiencing exponential expansion due to the increasing need for Portable Oxygen Concentrators (POCs) on a global scale, especially in the field of emergency care. The world market for oxygen therapy equipment is positioned to expand in response to the increasing number of people suffering from chronic respiratory illnesses worldwide. This upsurge is ascribed to the entry of international rivals into the market, rising consumer desire for portable technology, and the clinical necessity of providing the elderly population with more mobility help. Continuous innovation is likely to result in more efficient units and lower prices, giving the sector a considerable boost.
The growth in chronic respiratory disorders and the need for at-home healthcare are driving the market for oxygen treatment equipment. This is brought on by an ageing population that needs oxygen treatment to manage chronic illnesses, increased air pollution, and young smoking rates. According to the National Institutes of Health, 120,000 persons in the US pass away from COPD each year, affecting 12 million Americans. Since 334 million people globally suffer from asthma, there is an even greater demand for efficient at-home healthcare options.
Oxygen Therapy Equipment Market Drivers
Rising Demand for Oxygen Treatment Equipment Driven by Chronic Respiratory Disorders and At-Home Healthcare Needs
The growth in chronic respiratory disorders and the need for at-home healthcare are driving the market for oxygen treatment equipment. This is caused by the ageing population's increasing need for oxygen treatment due to chronic illnesses, as well as increased air pollution and smoking rates among people, especially in the younger demographic. According to the National Institutes of Health, 130,000 persons in the US pass away from COPD each year, affecting 15 million Americans. 350 million people worldwide suffer from asthma.
Oxygen Therapy Equipment Market Challenges and Restraints
Governments Low-Cost Alternatives Follows Strict Regulatory Guidelines
The tight government regulations, low-cost substitutes made by regional producers, and the reduction in Medicare payment rates for home oxygen therapy are anticipated to impede the market expansion for oxygen therapy equipment.
Oxygen Therapy Equipment Market Trends
Increased Frequency of COPD
Over 1 billion individuals worldwide suffer from chronic respiratory disorders like COPD (Chronic Obstructive Pulmonary Disorder), which are mostly brought on by tobacco use. An estimated 3.2 persons worldwide passed away from COPD in 2015. If a patient has low blood oxygen levels from COPD, long-term oxygen treatment is needed. The market for oxygen treatment equipment is predicted to rise rapidly due to the increased incidence of COPD and the resulting increasing demand for oxygen therapy equipment. This is because individuals with COPD require effective treatment alternatives.
Oxygen Therapy Equipment Market
- Koninklijke Philips N.V.
- Linde Healthcare
- Chart Industries, Inc.
- In care Corporation
- Dickinson and Company
- Smiths Medical
- Dragerwerk AG & Co. KGaA
- Teleflex Incorporated
- Fisher & Paykel Healthcare Corporation Limited
- Taiyo Nippon Sanso Corporation
- Philips Healthcare
- Messer Medical Austria GmbH
- Chart Industries, Inc.
- Invacare Corporation
- Becton, Dickinson and Company
- Heinen + Löwenstein GmbH & Co. KG
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Oxygen Therapy Equipment Market Recent Developments:
- In July 2023, By adding Ohio Medical & Therapy Equipment to its portfolio of gas control equipment, ESAB Corporation improved its capacity to offer complete solutions from a single source.
- In November 2021, UNICEF and the UK government developed an advanced oxygen concentrator for low-resource settings during the COVID-19 campaign to meet oxygen requirements in critical care settings.
Major Highlights from the Oxygen Therapy Equipment Market Survey
- The Global Oxygen Therapy Equipment Industry was valued at US$ 3.0 million by the end of 2021.
- The US is projected to account for the highest market share, reaching US$ 2.2 billion in demand for Oxygen Therapy Equipment by 2031.
- From 2016 to 2023, the demand for Oxygen Therapy Equipment grew at a compound annual growth rate (CAGR) of 9.9%.
- By product type, the Oxygen Source Equipment category constitutes the majority of the Oxygen Therapy Equipment Market, with a CAGR of 8.5%.
- By portability, the Stationary Devices segment dominates the market, with a CAGR of 7.9%.
Oxygen Therapy Equipment Market Segmentation
By Product
- Oxygen Source Equipment
- Oxygen Concentrators
- Liquid Oxygen Devices
- Oxygen Cylinders
- Oxygen Delivery Devices
- Oxygen Masks
- Nasal Cannulas
- Venturi Masks
- Non-rebreather Masks
- Bag-valve Masks
By Portability
- Standalone Devices
- Portable Devices
By Application
- COPD
- Asthma
- Cystic Fibrosis
- Respiratory Distress Syndrome
- Pneumonia
- Other Diseases
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Quantitative Analysis
• Market size, estimates, and forecasts from 2023 - 2030
• Market size and revenue estimates for product up to 2030
• Market revenue estimates for application up to 2030
• Market revenue estimates for type up to 2030
• Regional market size and forecast up to 2030
• Company financial
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