Research report by Transparency Market
Research (TMR) states that the competitive landscape present in the North
America oxygen therapy devices market is extremely competitive. The competition
is expected to intensify in the coming years due to presence of several large
players in the global market. Players are expected to compete on the basis of
pricing, and product. The regional overall market is also expected to draw
heavy investments in the coming years, resulting in technological advancements
and upgrades. Some of the key players operating in the market are DeVilbiss
Healthcare LLC, Philips Respironics Inc., AirSep Corporation, and Invacare
Corporation.
According to the research report, the
North America oxygen therapy devices market is expected to be worth US$1.58 bn
by the end of 2023 from US$1.0 bn in 2014. During the forecast period of 2015
and 2023, the North America oxygen therapy devices market is projected to surge
at a CAGR of 5.5%. The global will be primary factor responsible for driving the
overall market will be the high prevalence of cardiovascular diseases in the
region.
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The U.S. to Lead Regional Market with
Better Acceptance of Technology
On the basis of product, the North
America oxygen therapy devices market is segmented into oxygen source equipment
and oxygen delivery devices. The oxygen delivery devices market is further
divided into nasal cannula, bag valve masks, non-rebreather masks, simple
oxygen masks, CPAP (continuous positive airway pressure) masks, and venturi
masks. Of these, the venturi masks segment is projected to lead the pack as it
can be used with minimum discomfort and offer improved accuracy. This sub-segment
is projected to register a CAGR of about 7.0% during the forecast period of
2015 to 2023.
Geographically, the U.S. is expected to
lead the North America oxygen therapy devices market due to a high prevalence
of COPD diseases. The high awareness about the availability of treatment for a
wide range of chronic respiratory diseases in the region and high adoption rate
of technology are expected to drive the regional market in the coming years.
Growing Prevalence of Respiratory
Disorders Fuels Market Growth
The high levels of air pollution and
poor lifestyle choices have resulted in wide range of respiratory diseases and
disorders. These are primarily characterized by low oxygen levels in the body,
which is also known as hypoxemia. This eventually leads to damage to tissue
cells, causing shortness of breath, poor quality of life, and strain on the
heart. Oxygen therapy devices refers to a type of respiratory care that
provides supplemental oxygen to improve oxygen levels to avoid the
aforementioned conditions. Increasing uptake of these therapies has resulted in
better disease management for those suffering from chronic obstructive
pulmonary disease, obstructive sleep apnea, pneumonia, asthma, respiratory
distress syndrome, and cystic fibrosis.
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The growth of the North America oxygen
therapy devices market is also be aided by increasing number of government
initiatives to raise awareness about the diseases and the treatments available
for it. For example, an initiative by the National Asthma Education and
Prevention Program (NAEPP), National Asthma Control Initiative (NACI) is aimed
at offering result-oriented solutions for ensuring asthma control in the U.S.
On the flip side, the North America
oxygen therapy devices market is being challenged by changing consumer
dynamics. The growing inclination toward refurbished equipment and expensive
nature of oxygen therapy devices are expected to restrain the overall market.
The market is also being hampered due to the unfavorable reimbursement
policies, states the research report.
This review is based on Transparency
Market Research’s report, titled “Oxygen Therapy Devices Market (Product Type:
Oxygen Source Equipment & Oxygen Delivery Devices; Applications: Chronic
Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory
Distress Syndrome, Cystic Fibrosis, Pneumonia) - North America Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
The North America oxygen therapy devices
market is segmented as follows:
North America Oxygen Therapy Devices
Market, by Product Type
·
Oxygen Source Equipment
·
Oxygen Cylinders
·
Oxygen Concentrators
·
Liquid Oxygen Devices
·
Oxygen Delivery Devices
·
Simple Oxygen Mask
·
Nasal Cannula
·
Venturi Mask
·
Non-rebreather Mask
·
Bag Valve mask
·
CPAP Mask
North America Oxygen Therapy Devices
Market, by Applications
·
Chronic Obstructive Pulmonary Disease
(COPD)
·
Asthma
·
Obstructive Sleep Apnea
·
Respiratory Distress Syndrome (RDS)
·
Cystic Fibrosis
·
Pneumonia
Oxygen Therapy Devices Market, by
Geography
·
United States
·
Canada
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