LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global oxygen therapy consumables market is expected to reach USD 5407.55 million by 2021, growing at a CAGR of more than 11%.
This research report titled ‘Global Oxygen Therapy Consumables Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global oxygen therapy consumables market is anticipated to grow at a lucrative rate during the forecast period. The prevalence of chronic respiratory diseases and growing inclination toward home healthcare will drive the global oxygen therapy consumables market. Home oxygen therapy consumable devices are suitable for people with chronic respiratory disorders like COPD and asthma, whereas PAP oxygen therapy consumable devices are used to treat OSA.
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Technavio’s healthcare and life science research analysts categorize the global oxygen therapy consumables market into the following segments by product. They are:
- Venturi mask
- Nasal cannula
- CPAP mask
- Simple oxygen mask
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The top three product segments for the global oxygen therapy consumables market are discussed below:
A venturi mask is most often used for patients who require a specific concentration of oxygen. The mask can deliver oxygen concentrations ranging 24%-60% with flow rates of 4-12 L/min. A 28% venturi mask is used mostly for the treatment of acute respiratory failure. Venturi masks accounted for the largest revenue share in 2016 and will continue to dominate the market during the forecast period.
According to Ramakrishna Edupulapati, a lead orthopedics and medical devices research analyst from Technavio, “Ventura masks are frequently used for people who are critically ill, have COPD or acute respiratory failure, or require specific concentration of oxygen. Their relatively high comfort, high device cost, and availability of advanced masks with appropriate flow control are estimated to drive the growth of the venturi mask segment.”
The nasal cannula segment accounts for the second-largest share after the venturi mask segment. Nasal cannula consists of 7-14 feet long tubing, with two small prongs to insert into a patient’s nostrils. Nasal cannulas are mostly used in people with conditions like asthma, COPD, cystic fibrosis, pneumonia, OSA, or bronchopulmonary dysplasia.
Nasal cannulas are commonly used for people who are in a stable state and require low-flow, low to medium concentration of oxygen. The adoption rate of single-use cannula is high in developed and emerging countries. The availability of advanced and soft nasal cannulas that are free of latex and di(2-ethylhexyl) phthalate (DEHP) material, which provides safety and comfort to the patient, will propel the growth of the global nasal cannula market in the next five years.
CPAP masks are the standard, non-surgical treatment for people with moderate to severe OSA. CPAP masks are estimated to overtake the nasal cannula segment during the forecast period due to the increasing incidence and diagnosis of OSA, the emergence of compact, comfortable, and easy-to-use CPAP masks, and high device price.
“Due to the development of new technologies for CPAP masks, customized products that are designed specifically for men or women are available. Improved CPAP masks with cushions made of gel, silicone, foam, and fabrics are available in the market. The increased patient preference for these products is estimated to drive the growth of the CPAP mask segment in the coming years,” says Ramakrishna.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Drive DeVilbiss Healthcare
- Allied Healthcare Products
- Philips Respironics
- Fisher & Paykel Healthcare
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