Published By : 18 Feb 2016 | Published By : QYRESEARCH
Oxygen therapy devices are used among patients suffering from chronic illness such as asthma, respiratory distress syndrome, and cystic fibrosis or for those requiring acute patient care. It involves the administration of oxygen to the patients as a medical intervention. Oxygen therapy benefits a patient by reducing their shortness of breath and strain on the heart.
U.S. to Hold the Largest Market of Oxygen Therapy Devices in terms of Revenue in the forthcoming years:
According to a report published by Transparency Market Research, the U.S. held the largest market shares for oxygen therapy devices and is expected to continue its dominance over the forecasted period of 2015 to 2023. The prevalence of chronic respiratory diseases, chronic obstructive pulmonary diseases, coupled with the demand for technically advanced devices, and growing health awareness led to the growth of the oxygen therapy devices market in the U.S. According to the report, chronic obstructive pulmonary diseases has been the third largest reason for death among the people in the U.S, which explains why the country holds the largest market shares for oxygen therapy devices.
Increasing Government Initiatives in the U.S to Propel the Market for Oxygen Therapy Devices:
Initiatives by the U.S. government such as the National Asthma Control Initiative (NACI), which primarily aims to produce solutions to bring asthma under control, has influenced the oxygen therapy devices market in the country. The NACI urges the health care professionals and patients to make use of oxygen therapy devices to curb the asthma related disparities, thus fueling the market for oxygen therapy devices in the U.S.
Growing Geriatric Population in Canada Driving the Market for Oxygen Therapy Devices:
An approximate of 5,780,900 people in Canada fall in the age group of 65 years and above, and are likely to face some form of respiratory disease, thus propelling the oxygen therapy devices market. Other factors that support the market for oxygen therapy devices in Canada, include high adoption of technically advanced premium devices, rising cases of respiratory diseases and COPD, which is the 4th leading cause of death in the country.