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    Oxygen Therapy Device Market Report

    Oxygen Therapy Device Market Report
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    Global Oxygen Therapy Device Market, Trends, and Market Analysis
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    Market Insights

    The Global Oxygen Therapy Device Market is expected to grow from USD 3.5 billion in 2020 to USD 5.6 billion by 2026 at a CAGR of over 8.3% during the forecast period.                         

    Figure: Global Oxygen Therapy Device Market Size, 2020-2026 (USD Billion)

    Cytomegalovirus-Infection-Market-Forecast

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    What are Oxygen Therapy Devices?

    Oxygen therapy device is designed to provide oxygen to people who are not able to get oxygen on their own due to the prevalence of various diseases such as pneumonia, chronic obstructive pulmonary disease (COPD), bronchopulmonary dysplasia (underdeveloped lungs in new-borns), sleep apnea, asthma, heart failure, cystic fibrosis, and lung disease among others.

    Key Players

    Key players operating in the global Oxygen Therapy Device Market are-

    • Koninklijke Philips N.V. (Netherlands),
    • Becton, Dickinson and Company (The U.S.),
    • Linde Group (Ireland),
    • Smiths Group PLC (UK),
    • Taiyo Nippon Sanso Corporation (Japan),
    • Teleflex Incorporated (The U.S.),
    • Drägerwerk AG & Co. KGaA (Germany),
    • Invacare Corporation (The U.S.),
    • Fisher & Paykel Healthcare Corporation Limited (New Zealand),
    • Chart Industries, Inc. (The U.S.), and
    • Inogen, Inc. (The U.S.).

    Market Dynamics

    The growth of the global oxygen therapy device market is primarily driven by the increasing use of oxygen therapy devices for people suffering from chronic lung-related diseases. An increasing number of people facing difficulty in breathing due to the degrading environment, food consumption habits, and changing lifestyle are likely to drive the market growth at a significant rate during the review period. Growing emphasis on the development of cost-effective and rapid oxygen therapy devices is witnessed to create lucrative opportunities for the players in the global market.

    Segment Analysis

    Product Trends

    Based on product, the market has been segmented into oxygen source equipment and oxygen delivery devices.

    • The oxygen source equipment segment accounted for the largest market share in 2020.
    • The segment growth can be attributed to the increasing number of people suffering from respiratory disorders.
    • The oxygen source equipment segment has further been sub-segmented into oxygen concentrators, liquid oxygen devices, and oxygen cylinders.

    Regional Trends

    Geographically, the market in North America accounted for the largest market share in 2020 owing to the increasing prevalence of respiratory diseases particularly asthma and COPD.

    • For instance, around 14.8 million adults in the US have been diagnosed with COPD and more than 25 million people have asthma.
    • Additionally, increased spending on R&D activities to develop advanced solutions is likely to propel the market growth at a significant rate in the region.
    • The market in Asia-Pacific is expected to register the fastest growth during the review period on account of the rapidly expanding healthcare industry in developing countries.

    COVID-19 Impact on Global Oxygen Therapy Device Market

    The covid-19 outbreak impacted the growth of the oxygen therapy devices positively. The significant surge in COVID-19 cases resulted in breathing issues among various people which in turn increased demand for oxygen therapy devices. Additionally, the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) recommended the use of oxygen therapy as the first?line therapy for treating COVID?19?induced respiratory distress and hypoxia.

    Critical Questions Answered in the Report

    • What are the key trends in the global oxygen therapy device market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global oxygen therapy device market?
    • What are the key strategies adopted by the major vendors to lead in the global oxygen therapy device market?
    • What is the market share of the top vendors?

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    Target Audience

    The following is a list of the customers that the Oxygen Therapy Devices market aims to convert the most:

    • Oxygen therapy device manufacturers
    • Oxygen therapy device suppliers
    • Oxygen therapy device distributors
    • Organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    The oxygen therapy devices market is expected to grow at an impressive CAGR of 8.3% CAGR in the foreseeable future.

    Koninklijke Philips N.V. (Netherlands), Becton, Dickinson and Company (The U.S.), Linde Group (Ireland), Smiths Group PLC (UK), Taiyo Nippon Sanso Corporation (Japan), Teleflex Incorporated (The U.S.), Drgerwerk AG & Co. KGaA (Germany), Invacare Corporation (The U.S.), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Chart Industries, Inc. (The U.S.), and Inogen, Inc. (The U.S.) are among the key players in the oxygen therapy devices market.

    The oxygen therapy devices market size is expected to reach USD 5.6 billion in the coming years.

    North America accounted for the largest share of oxygen therapy devices market in 2020 owing to the increasing prevalence of respiratory diseases particularly asthma and COPD.

    Asia-pacific is expected to register the fastest growth in the oxygen therapy devices market during the forecast period.

    The oxygen source equipment segment accounted for the largest share of oxygen therapy devices market in 2020.

    Oxygen therapy device manufacturers, Oxygen therapy device suppliers, Oxygen therapy device distributors, Organizations, Government bodies are the target audience in the oxygen therapy devices market.

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