According to the latest market research study by Technavio, the global oxygen therapy devices market is anticipated to grow at a CAGR of close to 11% during the forecast period 2017 to 2021.
This analysis by Technavio provides an exhaustive study of the global oxygen therapy devices market in terms of revenue and evolving market trends. The report also comprises an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-users
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Oxygen therapy devices market by hospitals and clinics: The rise in the number of hospitalizations for acute and chronic conditions such as respiratory disorders and cardiac diseases is driving the growth of this market segment. The hospitals are increasing their investments in oxygen therapy devices to improve their surgical procedure and offer better comfort to the patients. These devices are used in hospitals for both outpatients who come in for regular check-ups and in-patient care for people in the intensive care unit.
“The introduction of new portable oxygen therapy devices for emergency units in various hospitals will drive the growth of this market during the forecast period. The manufacturers are focusing on marketing initiatives that will help gain multi-year contracts with hospitals to supply these devices. Furthermore, the introduction of innovative products will help the vendors increase market share and revenues over the next few years,” says Barath Palada, a lead analyst at Technavio for research on orthopedics and medical devices.
Oxygen therapy devices market by homecare: The availability of online home healthcare services in various developed countries is fueling the growth of the homecare trend in the global market. Homecare is best suited for patients who require additional support at home or wish to avoid unnecessary hospitalization and hospital stay costs. The increasing demand for these services in the world market will boost the sale of oxygen therapy devices.
Oxygen therapy devices market by ASCs: The growth of quick setting healthcare services with advanced specialist surgeons, operating equipment, and operating and recovery rooms without complex administrative procedures will drive the growth in this segment. Furthermore, the implementation of The Affordable Care Act in the US will increase the adoption of oxygen therapy devices in this market segment. The availability of better patient care and low-cost healthcare services in ASCs will boost the demand for these devices in the global market.
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The top vendors operating in the global oxygen therapy devices market are:
- Chart Industries
- DeVilbiss Healthcare
- Fisher & Paykel Healthcare
- Invacare
- Philips Respironics
The other prominent vendors in the market include 3B Medical, Airing, Allied Healthcare Products, Apnex Medical, CareFusion, GCE Healthcare, GE Healthcare, Inogen, MAQUET Medical Systems, O2 Concepts, Oxus America, Precision Medical, ResMed, Smiths Medical, Techno-Gaz Industries, and Teleflex.
A more detailed report is available in the Technavio study titled, ‘Global Oxygen Therapy Devices Market 2017-2021’. Technavio also customizes reports by other counties and specific segments upon request.
Other related reports:
- Global Dissolved Oxygen Meter Market 2016-2020
- Global Negative Pressure Wound Therapy Market 2016-2020
- Global Hemodynamic Monitoring Market 2016-2020
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