The global oxygen therapy market exhibited strong growth during 2015-2020.
Oxygen therapy, or supplemental oxygen, refers to a medical treatment that involves using an additional oxygen source to manage the blood oxygen levels and prevent carbon monoxide toxicity. It is commonly used for conditions, such as hypoxia, hypoxemia, pneumonia and asthma. Oxygen is administered in liquid or gaseous form, which is transferred through a cannula, face mask or hyperbaric oxygen chamber. They are also attached to other medical devices, such as ventilators and continuous positive airway pressure machines, to improve the efficiency of the treatment. Healthcare centers are also using novel portable tanks and oxygen concentrators to provide point-of-care (POC) and convenient oxygen therapy treatments to the patients.
The increasing prevalence of various respiratory disorders, such as pneumonia, cystic fibrosis, asthma, dysplasia and sleep apnea, across the globe is one of the key factors creating a positive outlook for the market growth. Oxygen therapy is used to improve the transfer of oxygen from alveoli to the blood, cell metabolism and tissue oxygenation, which are essential for normal physiological functioning. Furthermore, increasing consumption of nicotine and tobacco products, along with the rising geriatric population, which is more susceptible to such ailments, is providing a thrust to the growth of the market. Additionally, the development of cost-effective, rapid and accurate oxygen therapy devices and the increasing preference for oxygen therapy among doctors, physicians, surgeons and patients are also creating a positive outlook for the market. Other factors, including rising healthcare expenditure capacities, along with extensive research and development (R&D) activities, are anticipated to drive the market further. Looking forward, the analyst expects the global oxygen therapy market to grow at a CAGR of around 10% during the forecast period (2021-2026).
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global oxygen therapy market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, application and end use.
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being Allied Healthcare Products Inc., Becton Dickinson and Company, DeVilbiss Healthcare LLC (Drive Medical Inc.), Fisher & Paykel Healthcare Limited, General Electric Company, Getinge AB, Hersill SL, Invacare Corporation, Koninklijke Philips N.V, Smiths Group plc, Tecno-Gaz S.p.A., and Teleflex Incorporated.
Key Questions Answered in This Report: How has the global oxygen therapy market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global oxygen therapy market? What are the key regional markets? What is the breakup of the market based on the product? What is the breakup of the market based on the application? What is the breakup of the market based on the end use? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global oxygen therapy market and who are the key players? What is the degree of competition in the industry?
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