Increasing Patient’s Preference for Home Medical Therapy Equipment to Propel Oxygen Therapy Devices Market

Published By : 11 Mar 2016 | Published By : QYRESEARCH

Over the past few years, the oxygen therapy devices market has been one of the fastest growing markets in the global medical device sector. Increasing incidence of accidents and health issues have led to the increase in the use of various medical devices, oxygen therapy devices are amongst them. 

Factors such as an increase in the incidence of COPD and various other respiratory diseases have mainly resulted in the growth of the global oxygen therapy devices market in the past few years. Going forward, the global oxygen therapy devices market is expected to be propelled by the rising patient preference for handy home oxygen therapy equipment. It is also expected that the global oxygen therapy devices market will be affected by increasing concerns among patients regarding complications of long-term oxygen therapy. However, technological advancements in the medical devices will prove to be beneficial for the growth of the global oxygen therapy devices market in the next few years. 

Increasing funding and support from governments of various nations are predicted to further contribute towards the growth of the global oxygen therapy devices market in the next few years. 

What is Trending in Global Oxygen Therapy Devices Market?

  • Currently, oxygen therapy devices have emerged to be the most promising solution for treating various kinds of respiratory diseases.
  • Leading players are focusing on introducing innovative and effective oxygen therapy devices to treat diseases such as asthma, obstructive sleep apnea, chronic obstructive pulmonary disease, pneumonia, cystic fibrosis, and respiratory distress syndrome. 
  • Increasing applications are also expected to boost the global oxygen therapy devices market in the next few years.
  • Many new players are introducing new oxygen therapy devices in the global market to take care of various respiratory disorders.

The oxygen therapy devices market in North America is predicted to contribute largely in the years to come. Products such as the nasal cannula, simple oxygen masks, non-rebreather masks, venture masks, and bag valve masks are in more demand than ever before. The high risk due to pollution and occupational hazards are projected to boost the global oxygen therapy devices market in the next few years.

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