“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 Dermatological Drugs Market Report 2021-2031

The global market for dermatological drugs is ascending and has made significant gains in skin treatments. The players in the dermatological drugs market are striving to tap the opportunities that this market offers.

18 January 2021

Read

Visiongain Publishes Antigen Skin Test Market Report to 2031

The study covers detailed and insightful chapters on market overview, market segments, new developments, competitive landscape, strategic recommendations, key company analysis, market opportunities, pricing analysis, gap analysis, porter’s 5 forces model, company profiling, geographical analysis, and analytical overview of the market. Increasing health concerns among population and growing incidences of fungal & bacterial infection are some of the factors driving the growth of Antigen Skin Test market.

12 January 2021

Read

Visiongain Publishes Top 50 Pharmaceutical Contract Manufacturing Organisations (CMOs) Market Report 2021

Fierce competition, stringent regulations, diminishing research and development, shrinking margins, strong price pressures and patent cliffs encompass today’s drug industry. It is a well-known fact that future of the pharmaceutical/biopharmaceutical industry depends on innovation, and innovation comes from collaborations or partnerships.

11 January 2021

Read

Visiongain Publishes Anti-Infective Vaccines Market Report Report to 2031

The study covers detailed and insightful chapters on market overview, market segments, new developments, competitive landscape, strategic recommendations, key company analysis, market opportunities, pricing analysis, gap analysis, porter’s 5 forces model, company profiling, geographical analysis, and analytical overview of the market.

11 January 2021

Read

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