(Australia-NewsWire.Com, April 14, 2018 ) Overview The Oxygen Therapy Market is showing potential for growth owing to the increasing technological advancements in the field and the rising demand for oxygen therapy devices, especially for in-home patients. Oxygen therapy is used for a variety of purposes ranging from treatment of respiratory infections to recovery from stroke. The benefits offered by it include an improvement in mental stamina and a better breathing pattern.
Market Underlying Factors The Oxygen Therapy Market is being driven by the increasing technological developments in the industry as well as the increasingly diversifying respiratory ailments. Government initiatives to improve the respiratory care in developed countries and the growing opportunities in the developing economies provide dual prospects for the growth of the oxygen therapy market all around the world. The swelling number of in-home patients who are inclined towards personalized care is also having a direct positive impact on the growth of the oxygen therapy market.
Geographical Segmentation On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific and the Middle-East and Africa. North America dominates the Global Oxygen Therapy market with a market share of more than 40 percent. The advanced healthcare system and supportive government policies are the reason for the dominating global market share of North America. North America is followed by the regions of Europe and Asia Pacific. The governmental agencies in Europe such as the European Committee for Hyperbaric Medicine are actively pursuing policies to improve respiratory care, which are expected to further boost the market in the region. Asia-Pacific is expected to be the fastest growing region due to increasing numbers of geriatric populace and the mounting healthcare expenditure in the developing economies in the region.
The major market contributors for the Global Oxygen Therapy market are Respironics Inc. (a Philips company), Teleflex Incorporated, AirSep Corporation, DeVilbiss Healthcare, ResMed Inc, Fisher & Paykel Healthcare Limited, and Invacare Corporation.
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