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  • Oxygen Therapy Device Market Forecast | 2023-28

    Oxygen Therapy Device Market Forecast | 2023-28

    Oxygen Therapy Device Market Forecast | 2023-28
    Report code - SRHL202 Delivery - 2 Weeks
    Oxygen Therapy Device Market, Trends, and Market Analysis | 2023-28
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    Market Insights

    The oxygen therapy device market is estimated to grow from USD 35.29 billion in 2022 to USD 49.44 billion by 2028 at a CAGR of 5.74% during the forecast period.

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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.

    Oxygen Therapy Device Market Report Overview

    Market Size in 2028

    USD 49.44 Billion

    Market Size in 2022

    USD 35.29 Billion

    Market Growth (2023-2028)

    CAGR of 5.74%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    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.
    • 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.

    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.).

    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 2021.
    • 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 2021 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.

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    COVID-19 Impact

    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.

    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

    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?

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Oxygen Therapy Device Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    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 to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    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.

    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.

    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. 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.

    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 therapy device market is estimated to grow from USD 35.29 billion in 2022 to USD 49.44 billion by 2028 at a CAGR of 5.74% during the forecast period.

    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.