Oxygen Therapy Equipment Market Worth $4.01 Billion | Growth Drivers, Segmentation & Geographical Analysis

PUNE, India, 2020-Oct-05 — /EPR Network/ —

According MarketsandMarkets Research – The Oxygen Therapy Equipment Market is expected to reach USD 4.01 Billion, at a CAGR of 8.7% during the forecast period.

Major Market Growth Drivers:

• Increasing Prevalence of Respiratory Disorders
• Shift From Traditional Cylinders to Portable Concentrators
• Preference Towards Home-Based Oxygen Therapy
• Technological Advancements

Market Growth Opportunities;

• Increasing Focus of Industry Players on Emerging Markets
• Increasing Usage of Telemedicine and Telemonitoring

Browse 148 market data tables and 46 figures spread through 175 pages and in-depth TOC | Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=118828572

Oxygen source equipment is expected to dominate the market.

On the basis of products, the oxygen therapy equipment market is segmented into oxygen source equipment and oxygen delivery devices. The oxygen source equipment segment is expected to dominate the global oxygen therapy equipment market in 2017. The increasing incidence of respiratory disorders and technological advancements to develop smaller, quieter and more effective equipment are key drivers increasing the demand for oxygen source equipment.

Stationary oxygen therapy devices are estimated to command the largest market share.

The oxygen therapy equipment market is segmented by portability into stationary devices and portable devices. In 2017, the stationary devices segment is expected to account for the largest share of the oxygen therapy equipment market, by portability. Severe complications in patients suffering from respiratory disorders and the increasing proportion of geriatric population across the globe are major drivers for the growth of this segment.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118828572

Based on region, the oxygen therapy equipment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to dominate the oxygen therapy equipment market in 2017 on account of the increasing proportion of the geriatric population, rising number of hospitals, and increasing awareness regarding oxygen therapy.

Key players in the oxygen therapy equipment market include Philips Healthcare (Netherlands), Linde Healthcare (Germany), Chart Industries, Inc. (U.S.), Invacare Corporation (U.S.), Becton, Dickinson and Company (U.S.), Smiths Medical (U.S.), Drägerwerk AG & Co. KGaA (Germany), Teleflex Incorporated (U.S.), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Taiyo Nippon Sanso Corporation (Japan), Inogen, Inc. (U.S.).

Philips Healthcare (Netherlands) dominated the oxygen therapy equipment market in 2017. The company provides oxygen therapy devices through its Sleep and Respiratory Care business area. Philips Healthcare derives a majority of its revenue from the North American market. The company focuses on providing sophisticated products like oxygen concentrators, liquid oxygen devices, and oxygen cylinders. It is also looking at broadening its product offerings in the market via product launches. In 2016, Philips Healthcare, a market leader providing oxygen therapy equipment, developed Respironics EverGo, a portable oxygen concentrator which does not require refill or tank replacement. This enhances patient comfort as the patient does not have to depend on external parties for consumables.