Oxygen therapy is the use of oxygen as medical
intervention to maintain enough oxygen in conditions such as hypoxia,
hypoxemia, and other related conditions. Oxygen may be administered
through a nasal cannula, face mask, or through hyperbaric oxygen
chamber. This therapy helps maintain oxygen level in the blood for
treatment of acute and chronic diseases such as chronic obstructive
diseases (COPD), pneumonia, and asthma. Long-term therapy with oxygen
is often useful in people suffering from COPD. Certain other acute or
chronic disease conditions where oxygen therapy is effective include
cystic fibrosis, dysplasia, heart failure, sleep apnea, and lung
disorders.
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Oxygen therapy market taxonomy
The global oxygen therapy market is segmented on
basis of source equipment, application, delivery device, and end use.
By type of source equipment, the market in oxygen therapy is
segmented into oxygen cylinders, liquid oxygen devices, and oxygen
concentrators. On the basis of device type, the the oxygen therapy
industry is segmented into nasal cannula, face mask, bag valve mask,
venturi mask, oxygen mask, non-rebreather mask, and CPAP devices. On
the basis of application, the global oxygen therapy market is as
asthma, cystic fibrosis, COPD, pneumonia, respiratory distress
syndrome, and cardiovascular diseases.
Oxygen therapy is used in hospitals to cure
patients suffering from respiratory diseases such as COPD and
pneumonia, and also cardiovascular diseases fueling growth of the
oxygen therapy market. Oxygen therapy is also used in clinics,
rehabilitations centers and home care settings .
Increasing incidence of COPD and lung
disorders drive growth of the oxygen therapy market across the globe
Factors such as high prevalence of respiratory
related diseases, growing aging population, and increasing
vulnerability of the populace to respiratory conditions are fueling
growth of the oxygen therapy market in North America. According to
the Center for Diseases Control and Prevention (CDC), around 15.7
million people in the U.S. were diagnosed with COPD in 2013. Other
factors driving demand for oxygen therapy include innovation in
portable oxygen concentrators, rise in number of untreated sleep
apnea cases, favorable reimbursement scenario, growing demand for
oxygen filling devices, good medical facilities, and high investment
in research and development activities. The European market in oxygen
therapy is also gaining traction in recent times, mainly fueled by
increasing number of patients suffering from respiratory diseases and
favorable government initiatives to facilitate respiratory care.
According to the World Health Organization, over
90% of COPD deaths occur in low income and middle income countries.
Therefore, the oxygen therapy market is expected to grow
substantially in African, Asian, and Latin American countries due to
high prevalence of COPD and deaths due to the disease. Furthermore,
increasing awareness among medical facilities, increasing government
investment in healthcare facilities, and availability of low cost
treatment is projected to drive demand for oxygen therapy in emerging
economies.
Alarming increase in number of lung damage
cases increasing demand for oxygen therapy for effective treatment
According to World Health Organization (WHO) over
3 million people die each year due to COPD. Increasing use of oxygen
therapy in treatment of diseases such as COPD, asthma, obstructive
sleep apnea, and respiratory distress syndrome is a supportive
prevalent trend in the market. Long-term oxygen therapy for
patients suffering from chronic lung disease can help improve quality
and length of life, in turn creating a favorable environment for the
market. Increasing risk of lung damage due to tobacco consumption,
occupational hazards, and pollution would further augment market
growth over the following decade.
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Global players engaged in the oxygen
therapy market
There are several medical device companies, both
local player and global ones, engaged in manufacture of oxygen
therapy devices. Some of the prominent players are Respironics, Inc.
(a Philips company), Fisher & Paykel Healthcare Limited, Teleflex
Incorporated, Invacare Corporation, AirSep Corporation, CareFusion
Corporation, DeVilbiss Healthcare, MAQUET Holding B.V. & Co. KG,
and ResMed, Inc.
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