Infinium Global Research has added a new report on Global Oxygen Therapy Devices Market. The report covers the analysis of global as well as regional markets of Oxygen Therapy Devices. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run. According to the report the global oxygen therapy devices market is projected to grow at a CAGR of 5.4% over the forecast period of 2018-2024.
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North America to influence the global Oxygen Therapy Devices Market through 2018-2024
The global oxygen therapy devices market was dominated by the North America region over the historic period 2015-16, followed by Europe. Increasing number of patients affected with obstructive pulmonary disease (emphysema), Neuromuscular and chest wall disorders, Cystic fibrosis, morbid obesity are the key factors for driving the growth of oxygen therapy devices market globally. Increasing incidence of respiratory, breathing, lung diseases due to continuously degrading and polluted environment, changing lifestyle and food consumption habits would led to rising demand for cost effective, rapid and accurate oxygen therapy device market in medium and long term.
Asia Pacific region is expected to be the fastest growing region on account of increasing demand of standardized world class medical facilities in Asian countries, growing healthcare infrastructure as hospitals/nursing homes/private clinics, increased spending on healthcare by working and middle class population in developing countries like India, China and other south East Asian countries are expected to work as catalyst for this market in near future.
Demand for portable and personalized device
In addition, increasing awareness levels and demand for personalized & portable devices for emergency oxygen delivery and different uses of oxygen therapy among doctors, physicians, surgeons and common persons can contribute towards the market growth for long term. In addition, a large number of population around the globe are vulnerable to different lung disease as Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Fibrosis and so on, and this number is expected to grow in the medium and long term. Thus, increasing presence of large patient pool with lung related disease and emergency cases are expected to fuel the oxygen therapy devices market.
New WHO Designation for Oxygen Could Save Thousands of Lives Globally
June 2017, World Health Organization (WHO) included a new indication for oxygen in its Model List of Essential Medicines (EML) and List of Essential Medicines for Children (EMLc), identifying oxygen as a medicine essential for the management of hypoxemia, this action could improve global health by making oxygen more accessible.
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Major Key Players mentioned in this Premium Report
The Leading companies in the oxygen therapy devices market are Teleflex Incorporated, Invacare Corporation, Chart Industries, Inc., Fisher &Paykel Healthcare Corporation Limited, Inogen, Inc., Philips Healthcare (A Division of Koninklijke Philips N.V.), Linde Healthcare (A Division of Linde Group), Becton, Dickinson and Company, Taiyo Nippon Sanso Corporation and Smiths Medical (A Division of Smiths Group PLC).