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Oxygen Therapy Equipment Market: Global Analytical Study, Growth Strategies, Size, Product Type, End User, Geography and Competitive Analysis to 2029

Data Bridge Market Research analyses that the oxygen therapy equipment market to be grow at a CAGR of 9.3% in the forecast period of 2022-2029 and is expected to reach the USD 3.34 billion by 2029.

Oxygen therapy is a treatment option for those who don’t get enough oxygen in their bodies. Because oxygen is required for various cell metabolisms and tissue oxygenation is crucial for proper physiological function, oxygen therapy is a medical intervention which utilizes oxygen gas to offer acute as well as chronic patient care. Because of its supportive relief and complimentary components, oxygen therapy equipment is used to treat a wide range of respiratory disorders. It has become a crucial part of the appropriate management of a variety of disorders, including respiratory pain condition, chronic obstructive pulmonary disease, asthma and others. Benefits of oxygen therapy include increased energy, improved breathing, and the prevention of heart failure.

The rise in the prevalence of respiratory diseases is the major driver accelerating the oxygen therapy equipment market’s growth rate. Another significant factor resulting in the expansion of market is the surging number of geriatric population. Furthermore, growing preference towards home-based oxygen therapy and technical innovations are the major drivers that will enhance the growth of market. Other significant factor such as increase in the shift from traditional cylinders to portable concentrators will cushion the market growth rate. Additionally, early diagnosis of respiratory disorders and growing incidences of tobacco smoking are the market drivers and will further influence the growth rate of oxygen therapy equipment market.

Moreover, the rise in utilization of telemonitoring and telemedicine will provide beneficial opportunities for the oxygen therapy equipment market growth. Also, the growing focus of leading industry players on emerging markets will expand the demand of oxygen therapy equipment market in the future.

However, high cost associated with oxygen concentrators and side effects involving nasal dryness and skin irritation lined with the therapeutic utilization of these devices are the factors that will obstruct the market growth. The strict regulatory guidelines leading delays in product approval will pose a challenge on the growth of oxygen therapy equipment market. Also, the presence of low-cost alternatives by local manufacturers and medicare reimbursement rate cuts for home oxygen therapy will act as market restraint and further impede the growth rate of market.

This oxygen therapy equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on oxygen therapy equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

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