Industry Background:
Oxygen therapy is the administration of oxygen to the patient. Oxygen can be given in a number of ways such as a nasal cannula, inside a hyperbaric chamber, and face mask. It is mostly given in acute conditions, in which tissues such as heart and brain are at risk of oxygen deprivation, and for chronic diseases, which are characterized by sustained low blood oxygen levels. The therapy is given to the patient with breathing disorders and for those who can’t get enough oxygen naturally. The people who receive oxygen therapy often see improved energy levels and sleep, as well as a better quality of life.According to AMA, the market for Oxygen Therapy is expected to register a CAGR of 11.3% during the forecast period to 2026. This growth is primarily driven by Increase in the Prevalence of Breathing Disorders, Favorable Reimbursement Policies around the Globe, The Rising Geriatric Population Worldwide and The Growing Numbers of Hospitals & Clinics Worldwide.
Globally, a noticeable market trend is evident Increasing Use of Oxygen Therapy in Treatment of Diseases Such As COPD, Asthma, Obstructive Sleep Apnea, and Respiratory Distress Syndrome. The Medical Devices sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as 3M (United States), General Electric Company (United States), Koninklijke Philips N.V. (Netherlands), DeVilbiss Healthcare (United States), Essex Industries, Inc. (United States), Fisher & Paykel Healthcare Limited (New Zealand), Inotec AMD Limited (United Kingdom), Invacare Corporation (United States), VitalAire S.A. (South Africa), O2 CONCEPTS, LLC (United States) and Inogen (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 29 Aug 2018, Philips has expanded its Monitoring & Analytics business with the acquisition of Xhale Assurance Inc. The acquisition is expected to broaden and differentiate Philips’ current portfolio of oxygen saturation monitoring solutions and allow the company to expand into a currently underserved clinical segment.
On 18 Dec 2018, Inogen, Inc. has announced the commercial launch of Inogen Connect. Inogen Connect is a connectivity platform that comprises of a front-end mobile application for use by oxygen therapy users and a back-end database portal for use by home care providers.
Market Drivers
- Increase in the Prevalence of Breathing Disorders
- Favorable Reimbursement Policies around the Globe
- The Rising Geriatric Population Worldwide
- The Growing Numbers of Hospitals & Clinics Worldwide
Market Trend
- Increasing Use of Oxygen Therapy in Treatment of Diseases Such As COPD, Asthma, Obstructive Sleep Apnea, and Respiratory Distress Syndrome
Restraints
- The High Developmental Cost of Advanced Oxygen Therapy Devices
- Constantly Changing Regulations and Stringent Policies
Opportunities
Increasing Geriatric Population Requiring Home-Based Oxygen Therapy in APAC Region, Rising Healthcare Expenditure of Individuals among Developing Regions and Technological Advancements Made In the Existing Oxygen Delivery Systems
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Oxygen Therapy Study Sheds Light on
The Oxygen Therapy Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Oxygen Therapy industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Oxygen Therapy industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.