NEW YORK, United States, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Oxygen Therapy Market Size, Share, Growth Analysis Report By Product (Oxygen Source Equipment, Oxygen Delivery Devices), By Application (Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, Pneumonia), By End-use (Hospitals, Home Healthcare), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Oxygen Therapy Market size & share was valued at approximately USD 16,294.10 million in 2021. The market is expected to grow above a CAGR of 9.80% and is anticipated to reach over USD 28,552.51 million by 2028.”
The report analyses the Oxygen Therapy market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Oxygen Therapy market.
What is Oxygen Therapy? How big is the Oxygen Therapy Industry?
- Market Overview:
The intervention used to assist a patient with a medical condition in acquiring adequate oxygen is called oxygen therapy. When a patient's oxygen supply is inadequate, such as with asthma, COPD, or other disorders, oxygen therapy is utilized to treat the condition. An increased requirement for oxygen treatment is brought on by an increase in acute and chronic illnesses. Depending on their specific requirements, patients can choose from a variety of oxygen therapy options, including oxygen concentrators, liquid oxygen, and hyperbaric oxygen therapy. Since oxygen is required for a variety of cell metabolisms and tissue oxygenation is crucial for proper physiological function, oxygen therapy employs oxygen gas to treat acute or chronic patients.
Oxygen treatment is done when the blood's oxygen levels are low. It may be administered in some ways, from nasal spray to hyperbaric oxygen in a sealed space. A group of organs and tissues is known as the respiratory system supporting breathing. The lungs, nasal passages, and windpipe comprise the respiratory system. Air enters the body through the mouth or nose and is carried by the bronchi through the windpipe to the lungs.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 237+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Industry Major Players, Historical and Forecast Growth, Porter's 5 Forces Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Key Insights from Primary Research
- As per the analysis, the Oxygen Therapy market is likely to grow above a CAGR of around 9.80% between 2022 and 2028.
- The Oxygen Therapy market size was worth around US$ 16,294.10 million in 2021 and is estimated to hit approximately US$ 28,552.51 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on application, the chronic obstructive pulmonary disease (COPD) segment will continue to dominate the oxygen treatment equipment market from 2022 to 2028.
- Due to its advanced infrastructure, specialized medical staff, and increased admission of patients with chronic respiratory diseases, the hospital's sector dominates the market.
- The most significant demand for oxygen treatment equipment worldwide is in North America.
Competitive Players
The report contains qualitative and quantitative research on the global oxygen therapy market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Oxygen Therapy market include;
- GE Healthcare
- Invacare Corporation
- CareFusion Corporation
- Smiths Medical
- HERSILL S.L.
- Fisher & Paykel Healthcare Limited
- Philips Respironics Inc.
- DeVilbiss Healthcare
- Tecno-Gaz Industries
- Allied Healthcare Products Inc.
- Teleflex Incorporated
- Chart Industries
- MAQUET Medical Systems
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Oxygen Therapy Industry Dynamics
Growth Drivers
- Technological progress is increasing the market for oxygen therapy devices worldwide
Due to the rising number of patients with respiratory disorders who require OTD practically constantly, the market for oxygen treatment devices (OTD) is booming. The demand for such devices is fueled by the pressure on healthcare facilities to manage patients who require OTD all the time. Additionally, the market for oxygen treatment equipment is expanding due to rising pollution and cigarette use. The development of many significant market participants on a global scale and the appearance of novel products are projected to assist the global oxygen treatment market during the forecast period.
Restraints
- Oxygen concentrators are pricey and have frequent adverse effects on the global market
The obstacles limiting market growth include, however, the high price of oxygen concentrators and their adverse effects, which include skin irritation and nasal dryness when used therapeutically. The market for oxygen treatment equipment will have difficulties due to the tight regulatory requirements that cause delays in product approval. Additionally, the availability of affordable substitutes made by regional manufacturers and Medicare reimbursement rate reductions for home oxygen treatment will serve as market restraints and slow the industry's development pace.
Oxygen Therapy Market: COVID-19 Impact Analysis
Oxygen therapy is beneficial for COVID-19 patients whose respiratory function has been compromised. The overall shift from standalone to portable concentrators intensified in 2020 when health care providers spent more money on the less expensive stationary equipment. However, because of widespread lockdown restrictions, fewer consumers need mobility. Despite the slowdown, it is estimated that the mobile OTD industry would grow and have significant expansion throughout the projected time.
The prevalence of COPD, which is known to increase the risk of developing a severe disease from COVID-19, has also inspired the development of treatments that offer a greater flow of oxygen, such as high-flow nasal therapy. Therefore, over the projected period, the aforementioned causes will drive the expansion of oxygen conserving technologies.
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Oxygen Therapy Market: Segmentation Analysis
The global oxygen therapy market is segregated based on product, application, end-user, and region.
Based on product, the market is divided into oxygen source equipment and oxygen delivery devices. In 2021, oxygen source equipment dominated the market. On the basis of application, the market is classified into COPD (chronic obstructive pulmonary disease), asthma, obstructive sleep apnea, RDS, cystic fibrosis, pneumonia, and others. COPD (chronic obstructive pulmonary disease) segment led the market in 2021 and is expected to maintain its dominance during the forecast period. Based on end-user, the market is classified into hospitals, home care, and other end-users. In 2021, the market was dominated by the hospital category.
Regional Dominance:
- North America dominated the global market
Due to significant expenditures and O2 treatment trials taking place in North America, this region led the market. This is because there are more end users in this area, and more people are aware of the advantages of oxygen treatment in hospitals. On the other hand, Asia-Pacific is anticipated to see the greatest growth rate throughout the projection period because of the region's expanding penetration of foreign players and rising R&D activity. For instance, research was done to determine the effectiveness of long-term O2 therapy by the British Medical Research Council and North American Nocturnal Oxygen Therapy.
Additionally, the rising use of topical wound oxygen (TWO) therapy and hyperbaric oxygen therapy in this area is boosting market demand. In addition, this area has a significant risk of respiratory illnesses due to urbanization and occupational dangers, which is predicted to spur growth throughout the projection period. During the projected period, it's expected that the Asia Pacific region will experience exponential development.
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Recent Industry Development:
- October 2021: In the US, Movair unveiled a cutting-edge ventilator. Patients with COVID-19, COPD, chronic bronchitis, or bronchiectasis may transition to home settings more quickly with the Movair Luisa ventilator, authorized for emergency use by the FDA.
Key questions answered in this report:
- What is the market size and growth rate forecast for Oxygen Therapy industry?
- What are the main driving factors propelling the Oxygen Therapy Market forward?
- What are the leading companies in the Oxygen Therapy Industry?
- What segments does the Oxygen Therapy Market cover?
- How can I receive a free copy of the Oxygen Therapy Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 16,294.10 Million |
| Projected Market Size in 2028 | USD 28,552.51 Million |
| CAGR Growth Rate | 9.80% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | GE Healthcare, Invacare Corporation, CareFusion Corporation, Smiths Medical, HERSILL S.L., Fisher & Paykel Healthcare Limited, Philips Respironics Inc., DeVilbiss Healthcare, Tecno-Gaz Industries, Allied Healthcare Products Inc., Teleflex Incorporated, Chart Industries, MAQUET Medical Systems, and Others |
| Key Segment | By Product, Application, End-Use, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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The global oxygen therapy market is segmented as follows:
By Product
- Oxygen Source Equipment
- Oxygen Delivery Devices
By Application
- Chronic Obstructive Pulmonary Disease
- Asthma
- Obstructive Sleep Apnea
- Respiratory Distress Syndrome
- Cystic Fibrosis
- Pneumonia
By End-Use
- Hospitals
- Home Healthcare
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Product, Application, End-Use, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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