The Global Market for Medical Oxygen Systems is Projected to Reach US$1.6 Billion by 2020

Product Innovations Drive Growth in Medical Oxygen Systems Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Medical Oxygen Systems. The global market for Medical Oxygen Systems is projected to reach US$1.6 billion by 2020, driven by rising incidence of respiratory diseases, growing preference for treatment at home, and product innovations.

Medical oxygen systems are prescribed as a part of Oxygen Therapy to patients suffering from acute or chronic respiratory malfunction and disorders. Besides providing life support, these systems provide other benefits such as easing tightness of breath, improving sleeping patterns especially in sleep apnea cases, and reducing fatigue. Aging population, rising prevalence of respiratory diseases, and increase in number of LTOT (long-term oxygen therapy) patients are major factors driving the demand for medical oxygen systems. The market is also driven by other influences such as growing prominence of home healthcare concept, product innovations, and increasing awareness about chronic respiratory diseases among patients. Also, changing patient lifestyles and ambulation requirements are driving demand for portable oxygen systems.

Technological innovations in the oxygen therapy market are shaped by both economics and treatment therapy. Companies are focused on designing products that improve the quality of life of patients, are clinically efficacious and also fit the current reimbursement model. Innovative stationary and ambulatory oxygen systems have been introduced in recent years that enable patients to lead an active life. Over the decades, consumer preference has grown towards systems that are light, compact and that provide greater patient mobility. Portable Oxygen Concentrators (POCs) have gained increased adoption over the years with the incorporation of more user friendly options such as extra safety features and improved aesthetics. Another area gaining significance is supplemental oxygen systems such as home transfilling systems that provide patients the freedom to fill their cylinders according to their own schedule.

As stated by the new market research report on Medical Oxygen Systems, the United States represents the single largest market worldwide. Asia-Pacific emerges as the fastest growing market with a projected CAGR of 9.0% over the analysis period. Key factors driving growth in the region include increasing prevalence of respiratory disorders, improving healthcare system and preference for treatment at home.

Key players covered in the report include Chart Industries Inc., DeVilbiss Healthcare, Invacare Corporation, Inogen, Philips Healthcare, Terumo Corporation, and Weinmann Geräte für Medizin GmbH + Co. KG., among others.   

The research report titled “Medical Oxygen Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analyzed in the report include Oxygen Concentrators, Liquid Oxygen Systems, Oxygen Cylinders & Regulators, and Oxygen Conserving Devices.

Comments

Post a Comment

Popular posts from this blog

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of surfing equipment makers, marketers and associations to make surfing much more accessible. Increased accessibility and affordability has drawn si
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system
Read more
Image
The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right ti
Read more