Oxygen Therapy Equipment Market Size, Share, Growth Drivers, Industry Analysis and Forecast
According to the new market research report “Oxygen Therapy Equipment Market by Product (Oxygen Source (Concentrator, Cylinder), Delivery Devices), Portability (Stationary, Portable), Application (COPD, Asthma, Cystic Fibrosis, Pneumonia), End User (Hospital, Home Care) – Global Forecast to 2022″, published by MarketsandMarkets™, The oxygen therapy equipment market is expected to reach USD 4.01 Billion, at a CAGR of 8.7%
Factors driving the growth of this market are the increasing prevalence of respiratory disorders, rapid growth in the geriatric population, prevalence of tobacco smoking, preference towards home-based oxygen therapy, and technological advancements to develop novel products delivering oxygen therapy.
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Oxygen source equipment is expected to dominate the market in 2017
On the basis of products, the oxygen therapy equipment market is segmented into oxygen source equipment and oxygen delivery devices. The oxygen source equipment segment is expected to dominate the global oxygen therapy equipment market in 2017. The increasing incidence of respiratory disorders and technological advancements to develop smaller, quieter and more effective equipment are key drivers increasing the demand for oxygen source equipment.
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Stationary oxygen therapy devices are estimated to command the largest market share in 2017
The oxygen therapy equipment market is segmented by portability into stationary devices and portable devices. In 2017, the stationary devices segment is expected to account for the largest share of the oxygen therapy equipment market, by portability. Severe complications in patients suffering from respiratory disorders and the increasing proportion of geriatric population across the globe are major drivers for the growth of this segment.
North America to account for the major market share in 2017
Based on region, the oxygen therapy equipment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to dominate the oxygen therapy equipment market in 2017 on account of the increasing proportion of the geriatric population, rising number of hospitals, and increasing awareness regarding oxygen therapy.
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Key players in the oxygen therapy equipment market include Philips Healthcare (Netherlands), Linde Healthcare (Germany), Chart Industries, Inc. (U.S.), Invacare Corporation (U.S.), Becton, Dickinson and Company (U.S.), Smiths Medical (U.S.), Drägerwerk AG & Co. KGaA (Germany), Teleflex Incorporated (U.S.), Fisher & Paykel Healthcare Corporation Limited (New Zealand), medicap homecare GmbH (Germany), GCE Holding AB (Sweden), Allied Healthcare Products Inc. (U.S.), Medicop D.O.O. (Slovenia), Andreas Fahl Medizintechnik-Vertriebs GmbH (Germany), and Respan Products Inc. (Canada).