Product Innovations Drive Growth in Medical Oxygen Systems Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) March 09, 2015 -- Follow us on LinkedIn – Medical oxygen systems are prescribed as a part of Oxygen Therapy to patients suffering from acute or chronic respiratory malfunction and disorders. Besides providing life support, these systems provide other benefits such as easing tightness of breath, improving sleeping patterns especially in sleep apnea cases, and reducing fatigue. Aging population, rising prevalence of respiratory diseases, and increase in number of LTOT (long-term oxygen therapy) patients are major factors driving the demand for medical oxygen systems. The market is also driven by other influences such as growing prominence of home healthcare concept, product innovations, and increasing awareness about chronic respiratory diseases among patients. Also, changing patient lifestyles and ambulation requirements are driving demand for portable oxygen systems.
Technological innovations in the oxygen therapy market are shaped by both economics and treatment therapy. Companies are focused on designing products that improve the quality of life of patients, are clinically efficacious and also fit the current reimbursement model. Innovative stationary and ambulatory oxygen systems have been introduced in recent years that enable patients to lead an active life. Over the decades, consumer preference has grown towards systems that are light, compact and that provide greater patient mobility. Portable Oxygen Concentrators (POCs) have gained increased adoption over the years with the incorporation of more user friendly options such as extra safety features and improved aesthetics. Another area gaining significance is supplemental oxygen systems such as home transfilling systems that provide patients the freedom to fill their cylinders according to their own schedule.
As stated by the new market research report on Medical Oxygen Systems, the United States represents the single largest market worldwide. Asia-Pacific emerges as the fastest growing market with a projected CAGR of 9.0% over the analysis period. Key factors driving growth in the region include increasing prevalence of respiratory disorders, improving healthcare system and preference for treatment at home.
Key players covered in the report include Chart Industries Inc., DeVilbiss Healthcare, Invacare Corporation, Inogen, 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. Product segments analyzed in the report include Oxygen Concentrators, Liquid Oxygen Systems, Oxygen Cylinders & Regulators, and Oxygen Conserving Devices.
For more details about this comprehensive market research report, please click here
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 1500+ 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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