North America Oxygen Therapy Devices Market: Snapshot
Oxygen therapy devices are being largely acknowledged for the treatment of several respiratory diseases due to its supplementary, definitive, or palliative role. The growing prevalence of respiratory diseases such as respiratory distress syndrome, COPD, asthma, and obstructive sleep apnea is by far the leading factor augmenting the oxygen therapy devices market in North America. Moreover, the rising preference for home healthcare coupled with the rapid advancements in technology is providing a significant boost to the growth of the market.
However, the growing consumer inclination towards refurbished equipment and the high cost of oxygen therapy devices along with the lack of favorable reimbursement policies are adversely affecting the overall revenue generation of the market. Owing to these factors, the North America oxygen therapy devices market is poised to reach a valuation of US$1.58 bn by 2023, progressing at a CAGR of 5.5% between 2015 and 2023.
Soaring Demand for Venturi Masks Fuels Growth of Oxygen Delivery Devices Segment
Based on product, the North America oxygen therapy devices market is classified into oxygen delivery devices and oxygen source equipment. The oxygen delivery devices market is further categorized into bag valve masks, nasal cannula, simple oxygen masks, non-rebreather masks, venturi masks, and CPAP (continuous positive airway pressure) masks. The venturi masks segment is estimated to register a CAGR of more than 7.0% during the same period. High accuracy along with minimum discomfort are stirring up the demand for these masks.
Similarly, oxygen source equipment is further segmented into oxygen concentrators, oxygen cylinders, and liquid oxygen devices. The oxygen concentrators segment dominates the market in terms of revenue. However, liquid oxygen devices will post a CAGR higher than any other segment during the forecast period. Low per unit cost, maximum mobility, and power saving nature of liquid oxygen systems are propelling their demand in the region. Moreover, features such as easy-to-use, easy-to-carry, and better storage capacity is leading to their greater preference to other oxygen source equipment.
U.S. to Retain Dominance Owing to High Prevalence of COPD
On the basis of geography, the oxygen therapy devices market in North America is divided into the U.S. and Canada. The U.S. will continue to account for the lion’s share until 2023. The growing prevalence of COPD among the populace is one of the primary factors contributing to the dominance of the country. The American Lung Association ranks COPD third in the causes of death in the U.S., with 11 million people diagnosed with this disease in 2013. The rising awareness regarding the availability of treatment for several chronic respiratory disorders and increasing demand for technologically advanced devices are also fuelling the growth of the market in the U.S.
Moreover, government initiatives play a vital role in the growth of the country. A case in point is the National Asthma Control Initiative (NACI), an initiative by the National Asthma Education and Prevention Program (NAEPP), aims to produce high-impact, reliable solutions in asthma control in the U.S.
The oxygen therapy devices market in Canada is likely to exhibit a noteworthy CAGR during the review period. The widening base of geriatric population along with the rising incidence of respiratory disorders is supplementing the growth of the Canada market. As per the Statistics Canada, 16.1% or approximately 5,780,900 people in Canada, who are 65 years and older, are susceptible to respiratory diseases. The increasing adoption of premium-priced devices and the growing prevalence of COPD are providing a fillip to the growth of the country. COPD is predicted to become the third largest cause of death by 2020 from the fourth largest in 2013.
Some of the prominent players in the North America market for oxygen therapy devices are MAQUET Holding B.V. & Co. KG, Fisher & Paykel Healthcare Limited, Teleflex Incorporated, CareFusion Corporation, Smiths Medical, Philips Respironics Inc., DeVilbiss Healthcare LLC, Invacare Corporation, and AirSep Corporation.
1.1. Report Description
1.2. Market Segmentation
1.3. Research Methodology
2. Executive Summary
2.1. North America Oxygen Therapy Devices: Market Snapshot
2.2. Market Share, by Application, 2014 (US$ Mn)
2.3. Market Share, by Product Type, 2014 (US$ Mn)
3. Industry Analysis : North America Oxygen Therapy Devices
3.1. Introduction and Market Definition
3.2.1. Rise in incidence of COPD and other respiratory diseases
3.2.2. Increasing patient preference for portable home oxygen therapy equipment
3.3.1. Patient concerns associated with complication of long-term oxygen therapy
3.4.1. Technological advancements in the field of respiratory care to spur market growth
3.4.2. Increasing government initiatives toward improving respiratory care
3.5. Porter’s Five Forces Analysis
3.6. Market Attractiveness Analysis
3.6.1. North America Oxygen Therapy Devices Market, by Product Type
3.6.2. Market, by Country
3.7. Prescription Analysis
3.8. Competitive Landscape
3.8.1. Market Share, by Key Players, 2014
3.8.2. Brand Positioning Maps: North America Oxygen Delivery Devices
3.8.3. Brand Positioning Maps: North America Oxygen Source Equipment
3.9. Economic Outlook & Geopolitical Analysis
3.10. Reimbursement Policies
4. Market Segmentation – By Product Type
4.2. Market Revenue, by Product Type, 2013–2023 (US$ Mn)
4.3. North America Oxygen Source Equipment, By Type, 2013–2023 (US$ Mn)
4.3.1. North America Oxygen Cylinders Market Revenue, by Country, 2013–2023, (US$ Mn)
4.3.2. North America Oxygen Concentrators Market Revenue, by Country, 2013–2023, (US$ Mn)
4.3.3. North America Liquid Oxygen Devices Market Revenue, by Country, 2013–2023, (US$ Mn)
4.4. North America Oxygen Delivery Devices, By Type, 2013–2023, (US$ Mn)
4.4.1. North America Simple Oxygen Mask Revenue, by Country, 2013–2023, (US$ Mn)
4.4.2. North America Venturi Mask Market Revenue, by Country, 2013–2023, (US$ Mn)
4.4.3. North America Nasal Cannula Market Revenue, by Country, 2013–2023 (US$ Mn)
4.4.4. North America Non-Rebreather Market Revenue, by Country, 2013–2023 (US$ Mn)
4.4.5. North America Bag Valve Mask Market Revenue, by Country, 2013–2023, (US$ Mn)
4.4.6. North America CPAP Mask Market Revenue, by Country, 2013–2023, (US$ Mn)
5. Market Segmentation – By Application
5.2. North America Oxygen Therapy Devices Market Revenue, by Application, 2013–2023 (US$ Mn)
5.2.1. Market Revenue in COPD, 2013–2023 (US$ Mn) and Analysis
5.2.2. Market Revenue in Asthma, 2013–2023 (US$ Mn) and Analysis
5.2.3. Market Revenue in Obstructive Sleep Apnea, 2013–2023 (US$ Mn) and Analysis
5.2.4. North America Oxygen Therapy Devices Market Revenue in Respiratory Distress Syndrome, 2013–2023 (US$ Mn) and Analysis
5.2.5. Market Revenue in Cystic Fibrosis, 2013–2023 (US$ Mn) and Analysis
5.2.6. North America Oxygen Therapy Devices Market Revenue in Pneumonia, 2013–2023 (US$ Mn) and Analysis
7. Company Profiles
7.1. Chart Industries (AirSep Corporation)
7.2. CareFusion Corporation
7.3. DeVilbiss Healthcare LLC
7.4. Fisher & Paykel Healthcare Limited
7.5. Invacare Corporation
7.6. MAQUET Holding B.V. & Co. KG.
7.7. Koninklijke Philips N.V.
7.9. Smiths Medical
7.10. Teleflex Incorporated
This report on the North America oxygen therapy devices market studies the current and future prospects of the market. The market is segmented on the basis of products and application. On the basis of products the oxygen therapy devices market is segmented into oxygen source equipment and oxygen delivery devices. Rise in COPD and asthma cases and significant technological advancements in the field of respiratory devices have triggered the growth of the oxygen therapy devices market. Additionally, high risk of lung damage due to tobacco consumption, pollution, and occupational hazards across the globe is anticipated to augment the market during the forecast period. Moreover, easy-to-use and portable devices are likely to boost the growth of the market.
The North America oxygen therapy devices market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the market with respect to market segments based on the product type, application and geographic analysis.
Based on product type, the North America oxygen therapy devices market has been segmented into two major categories: oxygen source equipment and oxygen delivery devices. The oxygen source equipment segment is further categorized into oxygen cylinders, oxygen concentrators and liquid oxygen devices. Moreover, the oxygen delivery devices segment has been sub-segmented into simple oxygen mask, nasal cannula, Venturi mask, non-rebreather mask, bag valve mask, and CPAP mask. On the basis of application, the market is segmented into chronic obstructive pulmonary disease, asthma, obstructive sleep apnea, respiratory distress syndrome, cystic fibrosis and pneumonia. Demand for oxygen delivery devices is likely to increase due to rising incidence of COPD among the geriatric population and advancement of novel therapeutic devices for oxygen therapy. The market segments have been extensively analyzed based on usefulness, efficacy, revenue, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment has been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023, considering 2014 as the base year.
Geographically, the market has been segmented into two countries: the United States and Canada. The market size and forecast for each of these countries has been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year. The research study also covers the competitive scenario in these regions. A detailed qualitative analysis of factors responsible for driving and restraining the growth of the market and future opportunities has been provided in the market overview section. This section of the report also provides market attractiveness analysis, Porter’s Five Forces analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the North America oxygen therapy devices market.
A list of recommendations has been provided for new entrants as well as existing market players to assist them in taking strategic initiatives to establish a strong presence in the market. The report also profiles major players in the North America oxygen therapy devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include CareFusion Corporation, DeVilbiss Healthcare, LLC, Fisher & Paykel Healthcare Limited, MAQUET Holding B.V. & Co. KG, Smiths Medical, Teleflex Incorporated, Invacare Corporation, Philips Respironics, Inc., and AirSep Corporation
North America oxygen therapy devices market is segmented as follows:
North America Oxygen Therapy Devices Market, by Product Type
- Oxygen Source Equipment
- Oxygen Cylinders
- Oxygen Concentrators
- Liquid Oxygen Devices
- Oxygen Delivery Devices
- Simple Oxygen Mask
- Nasal Cannula
- Venturi Mask
- Non-rebreather Mask
- Bag Valve mask
- CPAP Mask
North America Oxygen Therapy Devices Market, by Applications
- Chronic Obstructive Pulmonary Disease (COPD)
- Obstructive Sleep Apnea
- Respiratory Distress Syndrome (RDS)
- Cystic Fibrosis
North America Oxygen Therapy Devices Market, by Geography
- United States