Increasing Incidence of Respiratory Diseases Drives Demand for Medical Oxygen Systems, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) July 22, 2013 -- Follow us on LinkedIn – Oxygen supplementation is a key requirement for people suffering with respiratory illnesses. Worldwide, incidence and prevalence of respiratory diseases is on the rise alongside aging population. Since most patients with chronic respiratory illnesses are compelled to carry oxygen devices while on the move, convenience is emerging as a critical factor in determining success of a device. As a result, manufacturers of oxygen devices are incorporating small yet significant design modifications in their products that enhance convenience to patients. These changes promise to provide smaller, lightweight, unobtrusive products to enable patients to continue with their regular activities, thereby facilitating higher compliance when compared to conventional systems.
The global oxygen market is expected to witness high levels of innovation in the coming years, especially in the area of Portable Oxygen Concentrators (POCs). Much of the development is expected to revolve around provision of clinically sound therapy and incorporation of substantial intelligence and software on the design front. Ongoing research efforts are expected to throw open several unexplored avenues for application of oxygen therapies. Research has proven the benefits of oxygen therapy for patients with congestive heart failure, and efforts are underway to discover the benefits of oxygen therapy in wound care and cluster headaches.
Portable oxygen concentrators (POCs) have essentially changed the domain of long-term oxygen therapy, forever changing the view of patients and physicians on the therapy as well as the potential benefits it offers. Patients are partaking in the decision making process and are increasingly demanding products that deliver superior convenience. As a result of these factors, demand for these products has surged over the years, fuelling a rise in number of manufacturers entering the market. With competition slated to rise in the years to come, manufacturers of POCs are increasingly focusing on technological innovation to retain their share in the market. Major areas of focus include higher device power that will help ensure provision of sufficient oxygen depending upon the needs of the patient, use of advanced molecular sieves, high-tech batteries and superior motor speed controls, among others.
As stated by the new market research report on Medical Oxygen Systems, the United States represents the single largest market worldwide. The country is witnessing a rise in prevalence of COPD. Since COPD and other oxygen deficiency conditions are mainly treated through oxygen therapy, rising prevalence is resulting in a significant growth in demand for oxygen therapy devices. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 9.4% over the analysis period. Oxygen Concentrators represents the largest as well as the fastest growing product market led by technology developments, increasing prominence of the home healthcare concept, cost benefits together with the comfort and convenience factors.
Major players covered in the report include Chart Industries Inc., AirSep Corporation, Chart SeQual Technologies Inc., DeVilbiss Healthcare, Invacare Corporation, Medical Gas Solutions, Philips Healthcare, Terumo Corporation, and Weinmann Geräte für Medizin GmbH + Co. KG., among others.
The research report titled “Medical Oxygen Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The global and regional markets for Medical Oxygen Systems are also analyzed, in value terms, by the following Product Segments: Oxygen Concentrators, Liquid Oxygen Systems, Oxygen Cylinders & Regulators and Oxygen Conserving Devices.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Medical_Oxygen_Systems_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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