“The global oxygen therapy market will grow at a CAGR over 10.0% by 2030”, says Visiongain

23 January 2020
Pharma

Visiongain’s new report the Oxygen Therapy Market Report 2020-2030: Forecasts by Product (Oxygen Source Equipment, Oxygen Delivery Devices, Static, Dynamic), By Application, By End-use) plus analysis of leading companies indicates that the global oxygen therapy market will grow at a CAGR over 10.0% by 2030.

The main drivers of the industry were increased incidences of chronic respiratory diseases coupled with increased demand for home healthcare. Nearly 12 million adults have been diagnosed with COPD in the U.S., according to the National Institutes of Health (NIH), and 120,000 people die each year. Asthma affects nearly 334 million people worldwide, according to data published by the Global Asthma Network (GAN). It is expected that increased patient population will boost demand for these products. The resulting increase in demand is expected to drive the industry in the years to come. In turn, the introduction of technologically advanced oxygen source and delivery systems is expected to improve the market, providing effective patient care. Such developments include flow control systems, sensors, and the combination of pulse dose meter delivery tools. O2 therapy adoption is increasing due to potential benefits such as controlled flow, effective dosage.

Increasing popularity and usage of on-demand and continuous Portable Oxygen Concentrators (POCs) in a wide variety of applications such as emergency medicine is also expected to drive demand in the years to come. This rise is due to the entry into the market of international rivals, consumer demand for portable devices, and medical need for increased support for geriatric population mobility. Thanks to continuous innovation, the company is expected to increase and result in more productive units and lower prices. Oxygen concentrators are expected to grow at a lucrative pace in the segment of the oxygen source equipment. Because of their applicability in various medical emergencies, use in ambulances, trains and aircraft, the transportable concentrators are expected to present significant growth potential; thus contributing to the potential demand for this product.

Due to the availability of a wide range of delivery devices related to the inspiratory and physiological needs of different patients, the oxygen delivery devices segment is expected to show a lucrative growth. However, the associated potential benefits such as continuous O2 flow, removal of complicated masks, variable pressure demand, and flow dilution are expected to promote demand over the coming years. Due to the increasing prevalence of COPD, the category Chronic Obstructive Pulmonary Disorder (COPD) dominated the market with a large 38 % share. According to figures released by the WHO, COPD affects around 65 million people and is the fifth leading cause of death. COPD's increasing prevalence fuels the medical imperative for COPD care, thus leading to business expansion. Asthma held the industry's second-largest share based on application. It is expected that the emerging O2 treatment modalities such as high-flow nasal cannula delivery of O2 in emergency care and non-invasive asthma treatment ventilation would provide the industry with future growth opportunities in this segment during the study period.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Ophthalmic Devices Market Report 2022-2032

The number of people who are blind or have poor vision is expected to rise considerably in the coming years. The growing elderly population is one of the key drivers of the Ophthalmic Devices Market’s upward trend.

19 April 2022

Read

Visiongain Publishes Vaccine Contract Manufacturing Market Report 2022-2032

The growing global health system has made significant contributions to protecting and promoting human health. However, long-standing, developing, and reemerging infectious disease risks continue to plague the planet

13 April 2022

Read

Visiongain Publishes Pharmaceutical Contract Manufacturing Market Report 2022-2032

The major driving factor contributing towards the growth of pharmaceutical contract manufacturing market are increase in investments in pharmaceutical R&D, rise in number of patent expiry, rising demand of generic drugs, and investment in advanced manufacturing technologies. However, use of serialization can thwart the market growth.

13 April 2022

Read

Visiongain Publishes Vaccine Sales Market Report 2022-2032

Rising epidemic potential, a growing emphasis on therapeutic vaccines, and new markets are projected to provide considerable growth prospects for vaccine providers.

30 March 2022

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever