Global oxygen therapy consumables market forecast
According to Technavio’s market research report, the global oxygen therapy consumables market will grow at a CAGR of more than 11% during the forecast period. The rising inclination towards home healthcare is one of the key drivers that will stimulate the oxygen therapy consumables market growth during the predicted period. The older population and people with chronic diseases highly prefer home healthcare over hospital care. These patients can easily access home-based medical care due to an increase in technological advancements and the improvement in healthcare services. Home health care improves the patient outcome by reducing the duration of hospital stays and healthcare expenditure. Home-based medical set-up will continue to gain popularity among patients due to the availability of oxygen therapy consumables with improved designs. As a result, the adoption of oxygen therapy consumables will also increase in the coming years.
Based on the oxygen therapy consumables market overview, the Americas contributed to the maximum market shares during 2016 due to the increasing product approvals and the availability of advanced devices. The rising awareness about advanced oxygen therapies will boost the adoption of oxygen therapy consumables among patients suffering from chronic respiratory diseases.
Competitive landscape and key vendors
The oxygen therapy consumables market is highly competitive and fragmented due to the presence of a large number of local and international companies. The growth opportunities of these vendors will increase with the rising prevalence of chronic respiratory diseases and the increasing demand for oxygen therapy consumables.
Key vendors in this market are
- BD
- Drive DeVilbiss Healthcare
- Allied Healthcare Products
- Philips Respironics
- Fisher & Paykel Healthcare
Other prominent vendors in the market include Ambu, Besmed Health Business, BLS Systems, Circadiance, Flexicare Medical, ResMed, Smiths Medical, and Teleflex Incorporated.
Segmentation by product and analysis of the oxygen therapy consumables market
- Venturi mask
- Nasal cannula
- CPAP mask
- Simple oxygen mask
A venturi mask can deliver oxygen concentrations ranging from 24%-60% with flow rates of 4-12 L/min. This mask is highly used during the treatment of acute respiratory failure. The increase in patients with chronic obstructive pulmonary disease (COPD) or acute respiratory failure will drive the demand for venturi masks during the estimated period.
Segmentation by end-user and analysis of the oxygen therapy consumables market
- Home care
- Hospitals and clinics
- Ambulatory surgical centers
Hospitals and clinics offer oxygen therapy for the treatment of medical and surgical emergencies and initial resuscitation. This segment accounted for the majority market share during 2016 because they procure oxygen therapy products in bulk. The segment will continue to be the largest end-user until the end of 2021 as they closely engage with many suppliers, government organizations, and reimbursement authorities.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global oxygen therapy consumables market?
- What are the key market trends impacting the growth of the global oxygen therapy consumables market?
- What are the challenges to market growth?
- Who are the key vendors in the global oxygen therapy consumables market?
- What are the market opportunities and threats faced by the vendors in the global oxygen therapy consumables market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global oxygen therapy consumables market?
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