Oxygen Therapy Equipment is expected to reach USD 4.01 billion by 2022

Thursday, June 15, 2017 Medical Gadgets
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LONDON, June 14, 2017 /PRNewswire/ -- Highlights

·         The global oxygen therapy equipment market is expected

to reach USD 4.01 billion by 2022, at a CAGR of 8.7% from 2017 to 2022.

·         The major factors driving this market are the rising incidence of respiratory disorders, growing geriatric population, high proportion

of tobacco smoking, inclination towards home-based oxygen therapy, and technical innovations.

·         Oxygen source equipment to register the highest CAGR during the forecast period

·         The oxygen therapy equipment market is classified on the basis of products into oxygen source equipment and oxygen delivery devices.

·         The oxygen source equipment segment is expected to grow at a higher rate during the forecast period. This is attributed to the industry players developing innovative products which are small, quiet, and effective leading to higher acceptance from consumers.

·         Home care settings to dominate the oxygen therapy equipment market during the forecast period

·         The oxygen therapy equipment market is segmented based on end users into home care settings, hospitals, and ambulatory surgical centers (ASCs) & physician offices.

·         APAC is estimated to be the fastest growing regional segment in the global oxygen therapy market during the forecast period

The global oxygen therapy equipment market is expected to reach USD 4.01 billion by 2022, at a CAGR of 8.7% from 2017 to 2022.The major factors driving this market are the rising incidence of respiratory disorders, growing geriatric population, high proportion of tobacco smoking, inclination towards home-based oxygen therapy, and technical innovations. On the other hand, the growth of this market is hindered to some extent due to the accessibility of low-cost alternates by local manufacturers, strict regulatory guidelines causing delays in product approvals, and Medicare reimbursement rate cuts for home oxygen therapy in the U.S. Oxygen source equipment to register the highest CAGR during the forecast period The oxygen therapy equipment market is classified on the basis of products into oxygen source equipment and oxygen delivery devices. The oxygen source equipment segment is expected to grow at a higher rate during the forecast period. This is attributed to the industry players developing innovative products which are small, quiet, and effective leading to higher acceptance from consumers. Home care settings to dominate the oxygen therapy equipment market during the forecast period The oxygen therapy equipment market is segmented based on end users into home care settings, hospitals, and ambulatory surgical centers (ASCs) & physician offices. In 2017, home care settings segment is expected to command the largest share and is estimated to grow at the fastest rate as compared to the other segments. This can be attributed to technological developments to develop user-friendly devices and rising usage of home-based therapy, particularly in developed countries across North America and Europe. APAC is estimated to be the fastest growing regional segment in the global oxygen therapy market during the forecast period Geographically, the oxygen therapy equipment market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region is estimated to grow at the fastest rate which can be attributed to the large investments in healthcare, rising expenditure on healthcare along with increased coverage of health insurance, and rise in disposable incomes especially in countries like China, Japan, and India.

The key players in the market are 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.), Essex Industries, Inc. (U.S.), HERSILL, S.L. (Spain), Weinmann Emergency Medical Technology GmbH + Co. KG (Germany), Messer Medical Austria GmbH (Germany), TECNO-GAZ S.p.A (Italy), HUM - Gesellschaft für Homecare und Medizintechnik mbH (Germany), medicap homecare GmbH (Germany), GCE Holding AB (Sweden), Allied Healthcare Products Inc. (U.S.), Medicop D.O.O. (Slovenia), Andreas Fahl Medizintechnik-Vertriebs GmbH (Germany), and Respan Products Inc. (Canada).

Download the full report: https://www.reportbuyer.com/product/4936545/About ReportbuyerReportbuyer is a leading industry intelligence solution that provides all market research reports from top publishershttp://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: query@reportbuyer.com  Tel: +44 208 816 85 48 Website: www.reportbuyer.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/oxygen-therapy-equipment-is-expected-to-reach-usd-401-billion-by-2022-300474140.html

SOURCE ReportBuyer



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