Report ID :10336403 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
North America & Europe Oxygen Therapy Market Analysis Throughout 2021-2028
Oxygen therapy market comprises of products that are used to contain and deliver specific concentration of oxygen to the respiratory system of a patient with compromised respiratory function or to help with wound healing and other applications that require additional supply of oxygen. The North America & Europe oxygen therapy market is anticipated to achieve a CAGR of 7.60% during the forecast period, i.e. 2021-2028. Factors such as the development of technologically advanced oxygen therapy devices, rising awareness among the medical community regarding development of products for early treatment, technological innovations, changing government initiatives to improve the availability and access to medical resources, growing demand for various respiratory care medical devices across the region, and the increasing collaboration between the manufacturers and healthcare providers are anticipated to promote towards the growth of the North America & Europe oxygen therapy market. Additionally, factors such as the increasing global concern for the risk of respiratory diseases, such as pneumonia, Chronic Obstructive Pulmonary Disease (COPD), asthma, and others, that has raised the need for oxygen therapy treatments, is anticipated to drive the growth of the North America & Europe oxygen therapy market.
The North America & Europe oxygen therapy market consists of various segments that are segmented by product, indication, portability, distribution channel, end-user, and by countries. The indication segment is further sub-segmented into chronic obstructive pulmonary disease, asthma, cystic fibrosis, pneumonia, respiratory distress syndrome, obstructive sleep apnea and others. Out of these, the asthma segment, which registered a value of around USD 894 million in the year 2018 is anticipated to grow at a CAGR of around 8% during the forecast period. Asthma is considered as the most common respiratory disease among children. As per the American Academy of Allergy Asthma & Immunology, an estimated 8.3% of children were suffering from Asthma in United States in the year 2016. This factor is projected to raise the demand for oxygen therapy equipment from the end users in the upcoming years.
Some of the prominent industry leaders in the North America & Europe oxygen therapy market are Koninklijke Philips, Becton, Dickinson & Company, Smiths Medical, Teleflex Incorporated, GE Healthcare, Allied Healthcare Products, Fisher & Paykel Healthcare Limited, Hersill S.L, and Devilbiss Healthcare LLC.
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