Oxygen Therapy Equipment Market Scope
Oxygen Therapy Equipment is used to provide oxygen as a form of medical treatment for both chronic and acute conditions. Oxygen therapy equipment technology has advanced to the point where most patients can receive oxygen therapy at home without having to disrupt their lifestyle. These types of equipment are used for the treatment of various diseases such as COPD, asthma, cystic fibrosis, respiratory distress syndrome, and others where there is a poor supply of oxygen to the patient.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Billion) |
Key Companies Profiled | Philips Healthcare (Netherlands), Linde Healthcare (Germany), Chart Industries, Inc. (United States), Invacare Corporation (United States), Becton, Dickinson, and Company (United States), Smiths Medical (United States), Drägerwerk AG & Co. KGaA (Germany), Teleflex Incorporated (United States), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Taiyo Nippon Sanso Corporation (Japan) and Inogen, Inc. (United States) |
CAGR | 20.7% |
In Oxygen Therapy Equipment Market, it has been observed that most of the companies are upgrading or introducing innovative products. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Oxygen Therapy Equipment market throughout the predicted period.
Philips Healthcare (Netherlands), Linde Healthcare (Germany), Chart Industries, Inc. (United States), Invacare Corporation (United States), Becton, Dickinson, and Company (United States), Smiths Medical (United States), Drägerwerk AG & Co. KGaA (Germany), Teleflex Incorporated (United States), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Taiyo Nippon Sanso Corporation (Japan) and Inogen, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Heinen + Löwenstein GmbH & Co. KG (Germany), DeVilbiss Healthcare (United States), Essex Industries, Inc. (United States), HERSILL, S.L. (Spain) and Messer Medical Austria GmbH (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Oxygen Therapy Equipment market by Type , by Application (COPD, Asthma, Cystic Fibrosis, Respiratory Distress Syndrome and Pneumonia) and Region with country level break-up. On the basis of Type, Oxygen Source Equipment are dominating the market in the year 2023 where as Oxygen Delivery Devices stood as second largest market share.
On the basis of application, COPD segment is dominating the market in the year 2023 where as Asthma segment stood as second largest market.
On the basis of geography, the market of Oxygen Therapy Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In March , 2023 ESAB Corporation , a world leader in fabrication and gas control technology, announced today that it has acquired Therapy Equipment Ltd. The acquisition strengthens the company’s leading global gas control equipment portfolio and represents the third acquisition for the corporation.
In September 2018, Caire, a Chart Industries firm launched a new wearable FreeStyle Comfort portable oxygen concentrator. This product offers wireless connectivity to CAIREview telehealth solution powered by SynsorMed. This oxygen therapy equipment used in the treatment of those individuals diagnosed with COPD.
Influencing Trend:
Growing Healthcare Expenditure in Asia Pacific Countries
Market Growth Drivers:
Increasing Demand for Oxygen Therapy Equipment: “Oxygen therapy is an incredibly important and life-changing type of therapy when a doctor deems it necessary. But with the right oxygen therapy equipment, patients can lead normal lives and continue to be as active as they were before.”, Shift from Traditional Cylinders to Portable Concentrators, Preference for Home-Based Oxygen Therapy and Increasing Prevalence of Respiratory Disorders
Restraints:
Availability of Low-Cost Substitutes by Local Manufacturers and Stringent Regulatory Guidelines Causing Delays in Product Approval
Opportunities:
Increasing Focus of Industry Players on Emerging Markets and Increasing Usage of Telemedicine and Telemonitoring
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Oxygen Therapy Equipment Providers, Raw Material Suppliers, Dealers, Suppliers, Traders and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Healthcare Institutions