(Health-NewsWire.Net, June 06, 2020 ) [175 Pages Report] The Oxygen Therapy Equipment Market is expected to reach USD 4.01 Billion, at a CAGR of 8.7% during the forecast period.
Factors driving the growth of this market are the increasing prevalence of respiratory disorders, rapid growth in the geriatric population, prevalence of tobacco smoking, preference towards home-based oxygen therapy, and technological advancements to develop novel products delivering oxygen therapy.
Top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent submarkets. The overall market size was used in the top-down approach to estimate the sizes of other individual markets (mentioned in the market segmentation by product, portability, application, end user, and region) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.
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Market Segmentation in Detailed:
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.
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.
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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.
Major industry players in Oxygen Therapy Equipment Market launched innovative products in the recent past and have plans to launch new products and expand across geographies via partnerships and acquisitions in the future. Philips Healthcare, Linde Healthcare and Chart Industries have been identified as the top players in this market.
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.), Heinen + Löwenstein GmbH & Co. KG (Germany), DeVilbiss Healthcare (U.S.)
Mr. Aashish Mehra