San Francisco, Sep 28 The
global oxygen
conserving devices market is expected to reach USD 2.21 billion by
2025, according to a new report by Grand View Research, Inc. Growing prevalence
of respiratory diseases is expected to boost the adoption of oxygen
conservation devices. According to the Global Asthma Network, nearly 334
million people are affected by asthma worldwide. This shows the potential
demand for these devices in the coming years.
According
to the WHO, rise in the incidence of COPD and other respiratory disorders is
anticipated to boost the demand for oxygen therapy and consequentially increase
the adoption of these products. Furthermore, factors such as increasing indoor
& outdoor pollution and changing lifestyle contribute to the rising
incidence of asthma, thereby fueling demand over the forecast period.
Growing
demand for technologically advanced products with potential benefits such as
less O2 wastage, ease of use, increased portability, and
enhanced patient response are among factors expected to generate lucrative
growth opportunities. In addition, well-developed reimbursement structure and
supportive regulatory framework are propelling the market. For instance,
Medicare policies in the U.S. offer reimbursement for oxygen therapy equipment
when it is prescribed by a healthcare professional.
Browse full research report on Oxygen Conserving Devices Market:
www.grandviewresearch.com/industry-analysis/oxygen-conservation-devices-systems-market
Further Key Findings From the Study Suggest:
- Owing to
early introduction, the reservoir oxygen delivery devices segment held the
dominant share of 34.52%
- Electromechanical
pulsing devices are anticipated to grow at a lucrative rate of 12.5% as
they exhibit higher O2conserving efficiency compared to other
products
- The home care
segment held the largest share of the global oxygen conserving systems
market on the basis of end use owing to the rising incorporation of oxygen
therapy devices in home care settings
- Long-term
care units segment is expected to exhibit lucrative growth over the
forecast period owing to an increase in the number of such units in
developed countries
- North America
dominated the global oxygen conserving devices market owing to the
presence of better reimbursement policies, growing patient population, and
the local presence of a large number of key players
- Asia Pacific
is anticipated to grow at a lucrative rate of 13.6% owing to developments
in the healthcare market and increase in the disposable income of the
masses
- Major players
are involved in various strategies such as mergers & acquisitions to
sustain their market position. For instance, in September 2017, Air
Liquide acquired Sogo Sangyo Kabushiki Kaisha, thereby increasing its home
healthcare and medical gases business in Japan
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/medical-devices
Grand
View Research has segmented the oxygen conservation devices market report on
the basis of product, end-use, and region:
Oxygen
Conservation Devices, Product Outlook (Revenue, USD Million, 2014 - 2025)
- Reservoir
Oxygen Delivery Devices
- Electromechanical
Pulsing Devices
- Transtracheal
catheters
- Others
Oxygen
Conservation Devices, End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Hospitals
& Clinics
- Long-term
Care Units
- Home Care
Oxygen
Conservation Devices, Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-oxygen-conservation-devices-systems-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
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