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The Venturi Mask Market size is estimated to grow at a CAGR of 13.12% between 2022 and 2027. The size of the market is forecast to increase by USD 1,947.69 million.
The growth of the venturi mask market share depends on several factors, including the increasing prevalence of chronic respiratory disorders, the increasing adoption of home care, and the marketing strategies of vendors. However, challenges such as unfavorable reimbursement scenarios may hinder market growth. But venturi mask market opportunities including increasing online marketing services and increasing healthcare expenditure will have a significant positive impact which will help the market grow exponentially.
This venturi mask market research report extensively covers market segmentation by application (COPD, asthma, and others), end-user (hospitals and clinics, homecare, and ASCs), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing adoption of homecare is a key factor driving the growth of the market. Over the past ten years, the healthcare sector has seen a paradigm shift from hospital treatment to home care. This trend is particularly noticeable among older adults and those who have chronic illnesses. In order to enhance patient outcomes and lower healthcare costs, technological advancements and improvements in healthcare services are encouraging many people to receive home-based medical care.
Patients are choosing homecare more frequently to avoid the burden of high expenditures, and protracted hospital stays as a result of the availability of venturi masks with better designs that are simple to use, combining comfort and efficiency. Such factors are expected to drive the demand for venturi masks, which, in turn, will propel the growth of the market during the forecast period.
Increasing online marketing services is the primary trend in the global venturi mask market growth. Vendors are focusing on the online marketing of their products to provide better access to customers and increase the volume of product sales. This strategy allows vendors to minimize sales mediators and operational costs. Many small-, medium-, and large-sized vendors sell venturi masks online, which improves the convenience of consumers.
Some vendors also provide discounts or promotional offers on online platforms, which increase the number of online purchases. Furthermore, the products that are offered online also include a warranty or guarantee from the manufacturers. Hence, increasing online sales are expected to drive the growth of the global venturi mask market during the forecast period.
An unfavorable reimbursement scenario is a major challenge to the growth of the global venturi mask market. Declining reimbursement and unfavorable shifts in the payer mix significantly impact the treatment of chronic disease conditions. Chronic respiratory disorders, such as COPD, asthma, and pneumonia, require long-term oxygen therapy. The Medicare reimbursement for home-based oxygen therapy in the US is limited to 36 months due to the Deficit Reduction Act of 2005 (DRA). It prevents oxygen providers from receiving reimbursement coverage for costs related to treatment beyond 36 months.
The average Medicare payment for home oxygen therapy is reduced to less than half compared with that of 1997. Medicare stopped payments for emergencies, other non-routine services, and necessary disposable supplies for patients on home oxygen therapy longer than 36 months. Hence, the current reimbursement process does not address the key services that are required for high-quality care for patients. This increases the burden on patients and manufacturers, which is expected to limit the market penetration of venturi masks. Such factors are expected to hamper the growth of the global venturi mask market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Venturi Mask Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Airwayssurgical - The company offers venturi masks such as Airo Multi Flow Venturi Mask. It also includes Airoprong Nasal Cannula, Airomask Oxygen Mask, Airo Multi Flow Venturi Mask, Airo Multi Single Dial Venturi Mask, and Airocon High Concentration Oxygen Mask.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the COPD segment will be significant during the forecast period. The use of venturi masks in the treatment of COPD accounted for a major market share in the global venturi mask market. These masks are the ideal choice for the treatment of COPD in patients with low-to-moderate oxygen requirements but have a risk of hypercarbia with uncontrolled oxygen therapy. Venturi masks are most useful in COPD patients, as they minimize the risk of carbon dioxide retention with partial pressure of oxygen (PO2) titration. Hence, the delivery of 24%-28% inspired oxygen via venturi masks is the suggested treatment for COPD. Such applications of venturi masks for COPD are expected to drive the growth of the segment in the global venturi mask market during the forecast period.
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The COPD segment shows a gradual increase in the market share of USD 670.55 million in 2017 and continue to grow by 2021. COPD is the most common respiratory disease in the world. It is the fourth leading cause of death in the world. The prevalence of COPD and the burden of the cost associated with this condition are expected to grow during the forecast period in both developed and developing countries. The growing prevalence of COPD is driven by the increase in risk factors such as smoking and environmental pollution. Long-term oxygen therapy is the first-line treatment to improve the prognosis of COPD patients with chronic respiratory failure. According to the Centers for Disease Control and Prevention (CDC), in 2020, the global prevalence of COPD was approximately 12.2%. It is estimated that 600,000 to one million patients are receiving long-term oxygen therapy, incurring an annual cost of approximately USD2 billion. This is expected to drive the demand for venturi masks in the treatment of COPD.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America accounted for the major market share of the global venturi mask market in 2022, with the US being the major contributor. North America is estimated to dominate the market during the forecast period owing to the rising prevalence of chronic respiratory diseases, increase in product approvals, availability of advanced devices due to technological developments, high investments in R and D, and rising awareness among people about advanced oxygen therapies. Also, the number of cases of chronic respiratory problems is increasing in North America due to the prevalence of smoking.
In 2020, the COVID-19 pandemic affected the economies of various countries, including the US, Canada, and Mexico, which negatively affected the growth of the North American venturi mask market. Though the demand for venturi masks returned to normalcy in 2021 owing to a successful vaccination drive in North America, patients with mild breathing problems and other patients with chronic and severe respiratory issues continued opting for oxygen therapy to avoid further co-infection from hospital visits. Such factors will drive the growth of the regional market during the forecast period.
The venturi mask market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Venturi Mask Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.12% |
Market growth 2023-2027 |
USD 1,947.69 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.27 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airways surgical Pvt. Ltd., Amechotechnology.com, Becton Dickinson and Co., Braun and Co. Ltd., Chart Industries Inc., Fisher and Paykel Healthcare Corp. Ltd., Flexicare Group Ltd., For Care Enterprise Co. Ltd., GaleMed Corp., HSINER Co. Ltd., Intersurgical Ltd., Invacare Corp., JG Moriya, Medline Industries LP, pfm medical ag, PVS SpA, Smiths Group Plc, Sturdy Industrial Co. Ltd., SunMed, and SureCare Community Services Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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