Oxygen Therapy Equipment Market Report To Observer Significant Development - Industry Opportunities To 2030
Oxygen Therapy Equipment Market is expected to portray promising scenarios, as it is estimated to reach $4.33 billion in 2030 which was initially valued at around $2.69 billion in 2021, thereby registering a CAGR of nearly 8.29% from 2022 to 2030.
During the
COVID-19 epidemic, the Oxygen Therapy Equipment Market has played a critical
role. To deal with the worldwide issue, traditional competitors teamed up to
speed up research and develop the world's quickest new vaccine. Governments,
health systems, payers, retail pharmacies, and charities are increasingly
collaborating with the pharmaceutical industry to offer extensive distribution
and management. Reinvented workplace settings, a shift in health-care delivery,
and new partnerships to achieve efficiency are just a few instances of how technology
breakthroughs are enabling this unprecedented transformation. While
pharmaceutical innovation is saving the globe, biopharma and medtech firms now
have a chance to keep up the trend.
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Market Dynamics and Factors:
The life
sciences business has seen exponential development in terms of breadth and
capabilities across the value chain. The need for significant collaboration
between life sciences and healthcare firms, not just on goods but also on
solutions, to assist solve the demand-supply mismatch is one of the sector's main
issues. The need of the hour is for product-push models to be supplemented by
service-oriented models that prioritise the needs of patients.
The current
COVID-19 epidemic is propelling the demand for life science analytics even
further, since healthcare infrastructures are already under strain. The
pandemic will likely increase demand for analytics in resource management, such
as vaccinations, medications, and other critical medical supplies. For example,
leveraging hybrid computing and sophisticated analytical tools, Moderna and IBM
are working on a vaccination management programme.
Furthermore,
throughout the projection period, the growing elderly population, rising
noncommunicable illness prevalence, and rising desire for enhanced patient
experience are expected to drive revenue. Universal health care systems are
vast, complicated, and expensive to run. Governments are concentrating on
preventative health and greater costefficiency, such as pricing restrictions on
medicines and medical technology equipment, to kerb expenditure increases.
Governments in both developed and emerging markets have made deliberate
decisions to confront producers and demand more access to lower-cost
medications. Health-care systems are exchanging information on the costs of the
items they purchase, aware that some countries pay more than others.
Market Segmentation:
Like several
other industries, the Oxygen Therapy Equipment market is also segmented in the
following way-
• On basis of Product - Oxygen Source
Equipment, Oxygen Delivery Devices
• On basis of Application - Asthma,
Pneumonia, Chronic Obstructive Pulmonary Disease (COPD), Respiratory Distress
Syndrome, Cystic Fibrosis, Others
• On basis of Portability - Portable,
Stationary
• On basis of End-use - Non-home
Healthcare, Home healthcare
• By
Geography – North America, Asia Pacific, Middle east and Africa, South America,
Europe.
Competitive Analysis:
Top players
profiled in Oxygen Therapy Equipment Market research report are:
·
GE Healthcare
·
Invacare Corporation
·
Inogen
·
IUC Medical (Smiths Medical)
·
HERSILL S.L.
·
Fisher & Paykel Healthcare
Limited
·
Philips Respironics, Inc.
·
DeVilbiss Healthcare
·
Tecno-Gaz Industries
·
Allied Healthcare Products,
Inc.
·
Teleflex Incorporated
·
Chart Industries
·
ResMedDrägerwerk AG & Co.
KGaALinde
·
CAIRE
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Geographic Analysis:
On a regional
basis, The North American Oxygen Therapy Equipment Market growth is attributed
to a rise in government funding for Oxygen Therapy Equipment Market, growth of
cell & gene therapies, increasing demand for biopharmaceuticals, and a rise
in competition among prominent market entities.The healthcare business,
benefits from the APAC region's strong economic growth, but it also faces
problems. Despite the increased number of hospitals, people in rural and
metropolitan regions continue to face access and affordability difficulties.
Digital
enablement challenges are being solved by technological innovation. Healthcare
services are supplied throughout Europe through a variety of distinct systems
that are administered at the national level. People want greater conveniences,
choices, and shorter wait times, thus the private sector is expanding in the
European healthcare business. Most European nations have a system in place where
residents can compete for government subsidies with commercial health insurance
firms for individuals who cannot afford coverage.
The European
Health Insurance Card (EHIC) is issued by the majority of European countries to
its residents. The rising prevalence of different health problems, particularly
chronic and infectious illnesses, is a major driving force for the Middle East
and Africa's healthcare industry to develop (MEA). The growing number of
patients with cardiovascular illnesses is driving the MEA home healthcare
market forwards.
The government's
increased assistance through expenditures to expand the scale of home
healthcare services, including in rural regions, is purely to spur market
growth prospects.Furthermore, rising disposable income in metropolitan regions
has a substantial impact on regional market demand.
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