Global Oxygen Therapy Equipment Market, By Product Type (Oxygen Source Equipment v/s Oxygen Delivery Devices), By Oxygen Source Equipment (Oxygen Cylinders, Oxygen Concentrators, Liquid Oxygen Devices, Others), By Oxygen Delivery Devices (Oxygen Masks, Nasal Cannula, Non-Rebreather Masks, Others), By Mobility (Stationary v/s Portable) By Application (COPD, Lung Cancer, Pneumonia, COVID-19, Others), By End User (Hospitals & Clinics, Ambulatory Care Centers, Homecare, Others), By Company, By Region, Competition Forecast & Opportunities, 2026
New York, July 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Oxygen Therapy Equipment Market, By Product Type, By Oxygen Source Equipment, By Oxygen Delivery Devices, By Mobility By Application, By End User, By Company, By Region, Competition Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06105537/?utm_source=GNW
The global oxygen therapy equipment market stood at USD8.87 billion in 2020 and is expected to grow at a CAGR of 6.63% during the forecast period. This can be ascribed to increasing geriatric population suffering from various kinds of chronic diseases in which oxygen therapy or oxygen support is required. Additionally, increasing levels of air pollution, smoking habits of population especially youth, among others have significantly contributed to an increase in the prevalence of respiratory diseases, thereby increasing the demand for oxygen therapy equipment. As per the National Institutes of Health (NIH), nearly 12 million adults have been diagnosed with Chronic Obstructive Pulmonary Disease (COPD) in the U.S. and 120,000 people die each year. According to the data published by the Global Asthma Network (GAN), asthma affects nearly 334 million people worldwide.
Besides, the sudden outbreak and spread of the pandemic COVID-19 in which significant reduction in blood oxygen level is witnessed among the patients has significantly increased the demand for different oxygen therapy equipment which can provide oxygen support.COVID-19 is a respiratory disorder in which the blood oxygen saturation reduces in patients, hence creating the need to provide oxygen support to the patient.
This in turn drives the growth of oxygen therapy equipment. The demand of oxygen therapy equipment has risen ever since the first wave of COVID-19 and during the second wave of pandemic, many countries in the South America and Asia Pacific region emerged out as the major demand creators for different oxygen therapy equipment, especially oxygen concentrators.
Global oxygen therapy equipment market is segmented by product type, mobility, application, end user, region and company.Based on product type, the market can be split into oxygen source equipment and oxygen delivery devices.
Oxygen source equipment segment dominated the market in 2020 with an overall market share of 66.68% on account of the rapid increase in the demand of oxygen concentrators and compressed oxygen gas cylinder due to the pandemic crisis worldwide. Furthermore, oxygen source equipment is further segmented into oxygen cylinders, oxygen concentrators, liquid oxygen devices and others. Oxygen concentrator segment is expected to register the highest growth during the forecast period owing to their widespread use in treatment of various respiratory conditions. Additionally, the demand for portable oxygen concentrator is expected to increase over the next few years owing to their compact size, light weight, ability to deliver continuous oxygen supply and affordability. This in turn is expected to support the growth of the oxygen concentrators segment.
Some of the major competitors in the market are Koninklijke Philips N.V., Invacare Corporation, Inogen Inc., NGK Spark Plug Co., Ltd., Fisher & Paykel Healthcare Limited, Allied Healthcare Products, Inc., Taiyo Nippon Sanso Corporation, Linde Healthcare, Smith’s Medical, Inc., Drägerwerk AG & Co. KGaA. among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships. For instance, leading the evolution of portable oxygen concentrators (POCs) in the market, Inogen has recently added a compact One G5 system to the family of Inogen’s portable and user-friendly oxygen concentrators. The next-gen device features advanced flow settings and extended battery life to accommodate the varying needs of the consumers. While the pioneer company had earlier focused on designing exclusive at-home oxygen concentrators, the latest medical oxygen system is small, lightweight, and convenient enough to be carried everywhere.
Years considered for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2026F
Objective of the Study:
• To analyze the historical growth in the market size of global oxygen therapy equipment market from 2016 to 2020.
• To estimate and forecast the market size of global oxygen therapy equipment market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global oxygen therapy equipment market based on product type, mobility, application end user, region and company.
• To identify dominant region or segment in the global oxygen therapy equipment market.
• To identify drivers and challenges for global oxygen therapy equipment market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global oxygen therapy equipment market.
• To identify and analyze the profile of leading players operating in global oxygen therapy equipment market.
• To identify key sustainable strategies adopted by market players in global oxygen therapy equipment market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers, suppliers, and distributors across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufactures which could not be identified due to the limitations of secondary research. The analyst examined the manufactures, distribution channels and presence of all major players across the country.
The analyst calculated the market size of global oxygen therapy equipment market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Manufacturers, distributors/suppliers, end users and other stakeholders
• Hospitals/Clinics, Ambulatory Care Centers and other stakeholders
• Organizations, forums, and alliances related to oxygen therapy equipment
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as vendors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global oxygen therapy equipment market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Oxygen Therapy Equipment Market, By Product Type:
o Oxygen Source Equipment
o Oxygen Delivery Devices
• Global Oxygen Therapy Equipment Market, By Oxygen Source Equipment:
o Oxygen Cylinders
o Oxygen Concentrators
o Liquid Oxygen Devices
• Global Oxygen Therapy Equipment Market, By Oxygen Delivery Devices:
o Oxygen Masks
o Nasal Cannula
o Non-Rebreather Masks
• Global Oxygen Therapy Equipment Market, By Mobility:
• Global Oxygen Therapy Equipment Market, By End Application:
o Lung Cancer
• Global Oxygen Therapy Equipment Market, By End Users:
o Hospitals & Clinics
o Ambulatory Care Centers
• Global Oxygen Therapy Equipment Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global oxygen therapy equipment market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06105537/?utm_source=GNW
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