Oxygen Therapy Market Size, Share, Growth And Forecasts To 2020: Grand View Research, Inc.
According to new report published by Grand View Research, global prevalence of chronic obstructive pulmonary disorder (COPD) will be the major driver for oxygen therapy market during the forecast period.
Global prevalence of chronic obstructive pulmonary disorder (COPD) is the major driver for oxygen therapy market. Oxygen therapy is one of the leading treatments for the patients suffering from various conditions resulting from oxygen deficiency including chronic obstructive pulmonary disorder. It is not restricted to the elderly but people above the age of 65 are at a greater risk to develop the disease. In addition, factors other than age also have immense role in the requirement of oxygen therapy such as environmental exposure, a severe asthma attack, cystic fibrosis, sleep apnea, late stage heart failure and smoking.
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Nasal cannula, transtracheal oxygen therapy and face mask are the major products of oxygen therapy market. Nasal cannula is expected to witness rapid growth during the forecast period due to the increasing cases of medical procedures and the requirement of oxygen therapy during the time of surgeries. Geographically, North America occupied the largest share of the oxygen therapy market, owing to the fact that COPD is one of the leading causes of deaths in the United States. Geriatric population in the U.S is growing at a faster rate than the overall population therefore increasing the number of cases of patients suffering from COPD. The Asia Pacific market is expected to witness a significant increase in demand for oxygen therapy during the forecast period owing to the increasing incidences of pulmonary disorder and heart failure.
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The key companies operating in the market for obesity surgical devices are AstraZeneca, CareFusion, Inc., Fisher&Paykel Healthcare Limited, Chart Industries Inc., GE Healthcare, Medical Systems, 3M, Merck&Company, Inc., Merck&Company, DeVilbiss Healthcare, and Philips/Respironics. In November 2014, Innova labs introduced portable oxygen concentrators with Activox 4L which reduces the uncomfortable side effects such as nose bleeding and dry nose associated with the traditional delivery method.
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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.
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