Global Medical Oxygen Systems Market to Reach $1.07 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Ongoing research, and development is expected to open up several unexplored avenues for the application of oxygen therapies. Outcome of research studies indicate greater potential in the home market for medical oxygen equipments. Global market for medical oxygen systems is projected to reach $1.07 billion by the year 2010.
San Jose, California (PRWEB) April 24, 2008
Worldwide medical oxygen systems market for home healthcare setting is reckoned to witness growth in the coming years. The buoyant growth expectations stem from demographic factors such as, the rapidly aging world population, a factor, which implies greater need for oxygen therapy. Another factor aiding growth includes the rising incidence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and chronic hypoxemia. These factors provide a strong business case for manufacturers of oxygen delivery equipments. Rapid technological advancements are also boosting the market and are beginning to yield greater reliability and convenience to the patient community.
Technology-led innovations are setting the growth momentum for medical oxygen equipments, as manufacturers continue to leverage cutting-edge technological advancements to innovate oxygen equipments, which are reliable and convenient. As stated by Global Industry Analysts Inc, Medical Oxygen Systems Market (http://www. strategyr. com/Medical_Oxygen_Systems_Market_Report. asp) in Europe is forecasted to grow at a CAGR of 8.71% over the years 2011 through 2015. Oxygen Concentrators (http://www. strategyr. com/Medical_Oxygen_Systems_Market_Report. asp) in the United States are projected to reach $451.06 million by the year 2012, while world Oxygen Conserving Devices (http://www. strategyr. com/Medical_Oxygen_Systems_Market_Report. asp) are forecast to reach $136.70 million by the year 2015.
Reimbursement cuts regime saw the exit of smaller players from the market. Large manufacturers on the other hand are engaged in mergers and acquisition activity, driving the home respiratory market towards consolidation. Consumer tendencies have tilted towards systems that are light, compact and that offer greater patient mobility. The market witnessed breakthrough technology in the form of home fill concentrator, which dramatically cuts down the frequency of refills thereby decreasing the number of service trips to patient homes and reducing delivery costs for the service provider. Oxygen concentrators, which were hitherto predominantly stationary, are currently becoming lightweight, compact, and portable, offering greater mobility and cost reductions.
Key players dominating the global medical oxygen systems market include AirSep Corporation, DeVilbiss Healthcare, Inovo Inc, Invacare Corporation, Mallinckrodt Inc and Respironics Inc.
The report titled "Medical Oxygen Systems: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, key factors affecting the industry, product overview, competition, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in value sales for regions such as United States, Canada, Japan, Europe, and Rest of World by the following product segments - Oxygen Concentrators, Liquid Oxygen Systems, Oxygen Cylinders & Regulators and Oxygen Conserving Devices.
For more details about this research report, please visit http://www. strategyr. com/Medical_Oxygen_Systems_Market_Report. asp (http://www. strategyr. com/Medical_Oxygen_Systems_Market_Report. asp)
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www. strategyr. com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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