According to the current analysis of Reports and Data, the global Oxygen Therapy Devices market was valued at USD 2.54 billion in 2019 and is expected to reach USD 4.92 billion by the year 2027, at a CAGR of 8.6%. Oxygen Therapy Devices are used to provide an oxygen supplement to the patients experiencing deprivation of oxygen in their bodies.
Leading Players Profiled in the Report Include:
Dickinson and Company (U.S.), Philips Healthcare (Netherlands), Linde Chart Industries, Inc. (U.S.), Invacare Corporation (U.S.), Smiths Medical (U.S.), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Taiyo Nippon Sanso Corporation (Japan), Inogen, Inc. (U.S.), DeVilbiss Healthcare (U.S.), Essex Industries, Inc. (U.S.), HERSILL, S.L. (Spain), GCE Holding AB (Sweden), Allied Healthcare Products Inc. (U.S.), and Medicop D.O.O. (Slovenia).
Disease conditions like asthma, chronic obstructive pulmonary diseases, cystic fibrosis, and other respiratory agonies cause the patient to be deprived of oxygen. Oxygen therapy devices include a complete focus upon either providing oxygen supplements or liquid concentrates, which can be directly incorporated through nostrils. Prominent driver of oxygen therapy devices is the growing prevalence of lung disorders, an increase in the use of tobacco for smoking, hike in the rate of air pollution in the environment. According to the National Institutes of Health, nearly 12 million adults are diagnosed with COPD in the U.S., and 120,000 people die each year. Furthermore, according to the Global Asthma Network, asthma affects nearly 334 million people across the globe. Hence, oxygen therapy devices are found to obtain a steep rise in the regions, mainly in emerging economies where industrialization is observed during recent years.
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The athletes are also the target market for the therapy since the body uses the maximum level of oxygen at the time of running, exercising, and other physical heavy workouts. The endurance is observed to get improved when athletes are given oxygen therapy for the necessary time. The growing need for such activities is expected to propel the growth of the market in the near future. Also, increasing awareness for the oxygen therapy devices and product advancements are propelling the market growth during the forecast period. Some recent advancement includes, enhanced adjustment knobs for required oxygen concentrations modulation in the pediatric patients, reduced skin irritation issue through latex-free tubes. However, low-cost manufacturers, stringent government guidelines for the quality of oxygen therapy devices, and significant number of product recalls associated with it are expected to impede the growth of the industry.
The COVID-19 impact:
As the number of patients with coronavirus (COVID-19) infection requiring hospital care increases, there will be increases in the use of advanced respiratory support, such as assisted ventilation. Scientists around the world are engaged research about the transmission mechanisms, the clinical spectrum of disease, new diagnostics, and prevention and therapeutic strategies to support new therapies. At present, hyperbaric oxygen is added to the current comprehensive treatments, which is being performed at the hospital for COVID-19 affected patients. The rising application of oxygen therapy is expected to boost the market during the forecast period. It is mainly used for the treatment of patients with COVID-19 as well as at-Risk population to prevent or reduce the effects of COVID-19. Oxygen can be administered non-invasively through a nasal cannula or a simple mask. Moreover, this could be safely done outside a hospital setting. In European countries such as Italy, political and health authorities are making incredible efforts to contain a shock wave that is severely testing the health system. Many uncertainties remain concerning both the virus-host interaction and the evolution of the epidemic, with specific reference to the times when the outbreak will reach its peak. However, before deciding to apply noninvasive therapies such as HFOT or NIV, It is crucial to consider their benefits versus the risk of airborne diffusion. These therapies may result in the widespread dispersion of exhaled air and infectious aerosols.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data has segmented the Oxygen Therapy Devices market on the basis of product, portability, application, end-use and region:
Product Outlook (Revenue in Million USD; 2017–2027)
Portability Outlook (Revenue in Million USD; 2017–2027)
Application Outlook (Revenue in Million USD; 2017–2027)
End-Use Outlook (Revenue in Million USD; 2017–2027)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017-2027
Chapter 3. Indicative Metrics
3.1. Macro-Economic Indicators
3.1.1. High prevalence of tobacco smoking
3.1.2. Growing demand for home based oxygen therapy
3.1.3. Technological Advancements in oxygen therapy devices
Chapter 4. COVID 19 impact assessment
4.1. Coronavirus Industry Outlook
4.1.1.1. Q1 2020
4.1.1.2. Q2 2020
4.1.1.3. Q3 2020
4.2. Rising Demand for Oxygen Therapy Devices market due to COVID-19 pandemic
4.2.1. Scenario 1: Oxygen Therapy Devices market decreased by 4%
4.2.1.1. Scenario 1 timeline
4.2.1.2. Key indicators for scenario 1
4.2.1.3. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-1
4.2.2. Scenario-2: Oxygen Therapy Devices market grows by 2%
4.2.2.1. Scenario 2 timeline
4.2.2.2. Key indicators for scenario 2
4.2.2.3. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-2
4.2.3. Scenario-3: Oxygen Therapy Devices market grows by 4%
4.2.3.1. Scenario 3 timeline
4.2.3.2. Key indicators for scenario 3
4.2.3.3. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-3
4.2.4. Scenario-4: Oxygen Therapy Devices market grows by 5.5%
4.2.4.1. Scenario 4 timeline
4.2.4.2. Key indicators for scenario 4
4.2.4.3. Covid-19 virus impact on global Oxygen Therapy Devices market revenue, 2019–2027: scenario-4
4.3. Supply chain stabilization
4.3.1.1. Supply scenario
4.3.1.2. Demand scenario
4.4. Upcoming strategies required to combat the current situation
Continued……
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