Oxygen Therapy Devices Market to Develop at 5.7% CAGR between 2014 and 2020

The Global oxygen therapy devices market that estimates the overall value of the market to be US$2.80 billion by 2020, expanding at a CAGR of 5.7% during the period from 2014 to 2020. The research study is titled “Oxygen Therapy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020” and reports that the global market for oxygen therapy devices had reached a value of US$1.90 billion in 2013.Based on product type, the report segments the global oxygen therapy devices market into the oxygen source equipment market and the oxygen delivery devices market. In the oxygen source equipment market, the oxygen concentrators segment held the leading position in 2013. However, the liquid oxygen devices segment is expected to surpass it during the forecast period. Similarly, in the oxygen delivery devices market, the venturi masks segment is expected to register the highest growth between 2014 and 2020.

 

The rise in the preference of patients for portable home oxygen therapy devices is stimulating the market for oxygen therapy devices across the globe. However, the report also predicts that the lack of proper regulatory settings relating to oxygen therapy devices, coupled with a poor reimbursement scenario, will restrict the industry.According to the application of oxygen therapy devices, COPD led the global market in 2013. This hierarchy is expected to be continued during the forecast period. The increasing prevalence of COPD in the global arena is accelerating the development of this market, the publication states.The report also analyzes the global oxygen therapy devices market on the basis of regional distribution. It states that the market in North America dominated the global market, holding 45% of the overall market in 2013.The availability of advanced healthcare infrastructure, coupled with regular technical developments in medical devices, is the primary growth driver of this regional market. Additionally, high incidence of respiratory disorders and rise in the awareness of citizens about oxygen therapy are also fueling market growth in this region.

Analysts at Transparency Market Research predict the oxygen therapy devices market in Asia Pacific to register the highest growth rate during the forecast period. South Korea, Japan, Malaysia, India, Australia, and China are expected to experience significant growth, and are hence likely to account for 6% of the oxygen therapy devices market in Asia Pacific. The ample availability of skilled workforce, together with a large population base and support from the government, is fuelling the market in the region.

 

Browse the full Oxygen Therapy Devices Market [Product Type: Oxygen Source Equipment & Oxygen Delivery Devices; Applications: Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, Pneumonia] - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/oxygen-therapy-market.html

 

Currently, the global industry for oxygen therapy devices is concentrated owing to the presence of very few established names in the market. However, the increasing number of entrants is expected to shape the future of this market. The company profiles of some of the major enterprises operating in the global oxygen therapy devices market, such as AirSep Corp., DeVilbiss Healthcare LLC, CareFusion Corp., Fisher and Paykel Healthcare Ltd., MAQUET Holding B.V. & Co. KG, Invacare Corp., ResMed, Smiths Medical, Philips Respironics Inc., and Teleflex Inc., are included in this report.

 

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