Oxygen Therapy Device Market Poised to Reach USD 15 Billion by 2023

Market Overview:

The Global Oxygen Therapy Device Market has been evaluated as rapidly growing market in the coming future and will have high demand globally. The global oxygen therapy device market is experiencing a rapid change. The changes are majorly seen due to the people living in the developing countries. The changing environment is leading to the high prevalence of the COPD and the children suffering from hypoxaemia is also increasing rapidly. The COPD is not a curable disease but it can be prevented. The oxygen therapy can help to reduce the symptoms of the COPD and hypoxaemia. Some of the COPD cases are responsible for the long term asthma. COPD is more common in men who are exposed to more tobacco and smoking and industrial fumes and pollution. This is generally seen in higher income countries. The women from lower-middle income countries suffers from the pollution made in kitchen by the burning of charcoal, fuel, gas leakage and others. The hypoxaemia is more common in children below the age group of five. It mainly comes from pneumonia, which contributes the more numbers of deaths. According to WHO, it is estimated that globally three million deaths occurred due to COPD in 2015. This is nearly 5% deaths occurred across the globe in 2015.

Global Oxygen Therapy Device Market Players:

There are various major players in the market which have global products for the oxygen therapy market, and are consistently working for the development of the technology are Phillips healthcare, Devilbiss Healthacre, Cardinal Healthcare, Respironics, Salter Labs, Masimo Corporation, Carefusion, Teflex, Bio Med, Fisher & Paykel Healthcare Limited, Inogen, O2 Concepts, Smith medicals, Medtronic, 3B Medical, 3M Healthcare and many more.

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Market Forecast:

Market Research Future has a Half Cooked Research Report on Oxygen Therapy Device Market. The Global Market for Oxygen Therapy Device is growing at a rapid pace and expected to reach around USD 15 billion by the end of the forecasted period 2017-2023.

Therefore, if the current trends in COPD prevalence continues over the coming years, the number of COPD patients would be increasing. With increasing COPD cases and hypoxaemia and other disease cases, the demand of oxygen therapy devices is expected to increase, which will result in the increasing demand for devices and products to monitor the oxygen levels in the body. This eventually will lead to increasing consumption of oxygen therapy devices.

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Regional Analysis:

Depending on geographic region, Oxygen therapy device market is segmented into four key regions: Americas, Europe, Asia Pacific, Rest of the world. Where America is the largest market for the oxygen therapy devices because of the various development in the home based therapy. Another reason is the lifestyle of the people in developed countries. Europe is the second largest region where the home based oxygen therapy are adopted. Asia-Pacific is the fastest growing region for the oxygen therapy device market. The major reason can be countries like China and India are changing their trends towards the healthcare and are adopting to the advanced technology in the healthcare industries.

Further the oxygen therapy device market is expected to be high in the Asia-Pacific region due to the increasing population, increasing number of the diseases due to the behavioral and lifestyle changes in the people. As well as the countries are spending more on the healthcare, which is leading to the adoption of the advanced technology.

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