United States Oxygen Therapy Equipment Market to Grow With A Double Digit CAGR until 2026
Rising instances of chronic
heart conditions is driving the growth of United States Oxygen Therapy
Equipment Market, in the forecast period.
According to TechSci report on, “United States Oxygen Therapy Equipment Market By Product Type (Oxygen
Source Equipment v/s Oxygen Delivery Devices) By Mobility (Stationary v/s
Portable) By Application (COPD, Asthma, Obstructive Sleep Apnea, Respiratory
Distress Syndrome, Others) By End User (Hospitals & Clinics, Ambulatory
Care Centers, Homecare) By Region, Competition Forecast & Opportunities,
2026”, United States oxygen therapy equipment market has shown promising growth in historical years
until 2019 and is expected to continue its growth with a double digit CAGR in
upcoming forecast years 2021 to 2026. United States oxygen therapy equipment market
owes its growth to the factors like rising number of patients suffering from
diseases like chronic obstructive pulmonary disease (COPD), pneumonia, asthma
and others. Moreover, in the recent years, prevalence of respiratory system
failures and cardiac failures have been recorded in the country at alarming
numbers. To sustain lives suffering from these diseases, oxygen therapies are
required and thus it is anticipated to support the growth of the Untied States
oxygen therapy equipment market in the future five years. Furthermore, rising
healthcare expenditure, growing geriatric population and favorable
reimbursement policies for the oxygen therapy equipment is expected to boost
the market growth during the forecast period, 2022-2026.
Oxygen therapy
equipment are the medical devices and tools that are involved in the
collection, extraction, storage, as well as the delivery process of the oxygen.
The oxygen therapy is often given to the patients who are suffering from
pulmonary failure, lung diseases and heart issues, basically the patients who are
incapable to derive (or breathe in) the oxygen from the air and utilize it. The
equipment is often expensive and require proper handling. Though, the recent
pandemic scenario saw global population struggling with the availability of the
oxygen therapy equipment, mostly in the developing countries. United States has
played a vital role in providing with the equipment to the developing countries
like India, China and therefore the market growth is expected to rise in
upcoming years too.
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The United
States oxygen therapy equipment market segmentation is based on, product type,
application, mobility, end users, regional distribution, and competitional
landscape. Based on application, the market is further bifurcated into COPD,
asthma, obstructive sleep apnea, respiratory distress syndrome, and others. Applications
of oxygen therapy equipment in the treatment of COPD is anticipated to hold the
largest revenue shares of the market in the upcoming five years, on the grounds
of multiplying numbers of patient suffering from chronic obtrusive pulmonary
diseases. The disease is an inflammatory disease that affects the lungs of the
patient and obstructs the air pathway making it difficult for the patient to
breathe. Oxygen therapy devices aids the patient in the derivation of the
oxygen from the oxygen cylinders thus aiding the breathing. Moreover, recent
hit of pandemic caused respiratory distress syndrome in the patients affected
from the COVID-19. Therefore, the number of patient suffering from the
respiratory distress syndrome also increased. The sub-segment is expected to
register the fastest growing CAGR in the next five years due to the same
reason.
A
partial list of market player in the United States oxygen therapy equipment
market includes, Philips Healthcare (USA), Invacare Corporation, Inogen Inc., Fisher
& Paykel Healthcare, Inc., GE Healthcare, Allied Healthcare Products, Inc.,
Smith’s Medical, Inc., DeVilbiss Healthcare LLC, Dräger, Inc., Teleflex
Incorporated, among others. These market players hold larger shares of the
market than the new market players. With the advancement of the technology, it
is appropriate to say that the effective research and development of the
technologically advanced medical devices would support the market growth and
benefit the market players as well as the consumers. New market players may
focus on the research and development to provide devices that satisfies the
consumer demand as well as benefits the market players in building their brand
value. Other competitive strategies include mergers & acquisitions and new
product developments.
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“The United States oxygen therapy equipment market is segmented on the
basis of end users into hospitals & clinics, ambulatory care centers,
homecare. Hospitals & Clinics are the largest anticipated end users for the
future market. The devices as well as the equipment are highly in demand due to
the recent pandemic. Although rising number of patients demanding the homecare
facility are expected to support the fastest growing segment. Market players
can plan on latest addition to their product line making sure the portable and
easier functioning devices are far more in demand as compared to the stationary
equipment. Due to rapid increase in the number of temporary establishments of
the healthcare facilities, the demand of mobile equipment rose higher in the
last years and the trend is expected to continue in the future for aiding the market
growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“United States Oxygen
Therapy Equipment Market By Product Type (Oxygen Source Equipment v/s Oxygen
Delivery Devices) By Mobility (Stationary v/s Portable) By Application (COPD,
Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Others) By End
User (Hospitals & Clinics, Ambulatory Care Centers, Homecare) By Region,
Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of United
States oxygen therapy equipment market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in United States oxygen therapy equipment market.
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