Respiratory Oxygen Delivery Devices Market: Size, Share and Forecast for 2028Posted by Kumar on December 13th, 2023 The TechSci Research report titled “Respiratory Oxygen Delivery Devices Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028” unveils the dynamic landscape of the Global Respiratory Oxygen Delivery Devices Market, which reached a value of USD 12.38 billion in 2022 and is poised to grow at a projected Compound Annual Growth Rate (CAGR) of 7.71% from 2024 to 2028. This growth is primarily attributed to the escalating healthcare expenditure globally. The augmented healthcare spending, particularly in emerging economies, has facilitated greater availability and affordability of advanced respiratory oxygen delivery devices. This financial commitment to healthcare infrastructure and technological advancements has significantly enhanced access to respiratory care, contributing to the market's expansion. Moreover, the global emphasis on sustainability has begun influencing the medical device industry, including respiratory oxygen delivery devices. Manufacturers are increasingly developing products with reduced environmental footprints, featuring attributes like low-energy consumption and recyclability. These sustainable devices not only benefit the environment but also appeal to eco-conscious patients and healthcare systems. Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Respiratory Oxygen Delivery Devices Market.” - https://www.techsciresearch.com/report/respiratory-oxygen-delivery-devices-market/21202.html The ongoing efforts to fortify healthcare infrastructure in developing regions, coupled with an increased awareness regarding the importance of timely and adequate respiratory care, are pivotal drivers for the market. The convergence of medical needs, technological progress, and the amplification of healthcare accessibility collectively act as catalysts for market growth. Notably, a CDC health advisory and media briefing from November 2022 underscored a concerning rise in respiratory syncytial virus (RSV) prevalence across eight out of ten public health regions in the United States. This surge was particularly alarming for young children, leading to approximately 100 annual respiratory-related deaths in children under the age of 1, surpassing the risks posed by influenza. RSV infections, while common among children up to the age of 2, also affect older children susceptible to severe infections. Yearly statistics in the U.S. reveal the extensive impact of RSV, including 2.1 million outpatient visits for children under 5 and 58,000 to 80,000 hospitalizations within the same age group. The unexpected early surge in RSV cases during the Fall 2022-Spring 2023 season compounded the challenges faced by healthcare institutions already dealing with increased influenza and COVID-19 cases. The CDC's report also highlighted a substantial rise in positive RSV antigen and PCR tests compared to the previous year. Additionally, it's crucial to note that RSV's impact extends to adults aged 65 and older, resulting in a range of 60,000 to 120,000 hospitalizations within this age group. The heightened hospitalizations, outpatient visits, and severity of RSV cases underline the escalating demand for efficient respiratory care and oxygen delivery devices. This demographic shift towards a globally increasing elderly population presents significant growth opportunities for the market, considering their elevated risk of respiratory issues and chronic conditions. For instance, data published by the United States Census Bureau in 2020 revealed that the Asian population exceeded 4.5 billion individuals, including major nations like China and India, each with populations exceeding one billion. This demographic accounted for more than half of the global populace. Among them, an estimated 414 million Asians were aged 65 or older, surpassing the entire U.S. population by approximately 20%. Projections indicate that by 2060, the number of Asians aged 65 and above would exceed 1.2 billion, suggesting a future where one in every 10 individuals globally will be a senior citizen in Asia. The seismic impact of the COVID-19 pandemic on the market cannot be understated. The virus's substantial respiratory impact surged severe cases necessitating oxygen therapy, driving the demand for devices like ventilators and oxygen concentrators in hospitals and ICUs. Extended oxygen therapy needs in patients with complications like acute respiratory distress syndrome (ARDS) and pneumonia further escalated this demand. The shift towards home-based care for mild cases also heightened interest in portable oxygen concentrators. The pandemic expedited research and innovation, leading to advanced respiratory care technologies. Overall, COVID-19 underscored the criticality of respiratory support, catalyzing market expansion and the development of more effective oxygen-delivery solutions, thus escalating the demand for respiratory oxygen-delivery devices. The Global Respiratory Oxygen Delivery Devices Market is segmented based on product, end-use, regional distribution, and company. In terms of products, Oxygen Masks held the market leader position in 2022, commanding the highest revenue share. These masks provide a simple and efficient method for administering oxygen in various clinical settings, accommodating both acute care situations and long-term oxygen therapy. Their user-friendly design makes them adaptable for patients needing low to moderate oxygen flow rates, with the flexibility to adjust to different oxygen concentrations. Additionally, their cost-effectiveness and healthcare professionals' familiarity further solidify their role in respiratory care protocols, fueling market expansion. On the contrary, the Venturi Masks segment is anticipated to witness rapid growth during the forecast period. These masks facilitate precise and controlled oxygen delivery by mixing oxygen with ambient air at specific ratios, ensuring accurate oxygen concentration delivery. This capability is crucial for managing patients with respiratory conditions necessitating precise oxygen levels, particularly beneficial for individuals with chronic obstructive pulmonary disease (COPD). Regarding end-use, hospitals emerged as the largest revenue contributor in 2022 and are projected to maintain this dominant position throughout the forecast period with the highest CAGR. Hospitals serve as pivotal centers for diagnosing and treating an array of respiratory conditions and diseases, such as acute respiratory infections and chronic obstructive pulmonary disease (COPD). The escalating prevalence of these respiratory ailments has led to increased demand for effective respiratory oxygen delivery devices, reinforcing the need for such devices within hospital settings. Moreover, hospitals cater to a diverse patient population, including individuals with weakened immune systems and respiratory vulnerabilities. Additionally, the ongoing efforts to manage and prevent respiratory infections, particularly in the aftermath of global health crises like COVID-19, have propelled hospitals to enhance their respiratory protection measures. This necessitates the widespread adoption of respiratory oxygen delivery devices to ensure optimal patient care and infection control. In summary, the Global Respiratory Oxygen Delivery Devices Market showcases promising growth prospects, driven by amplified healthcare spending, sustainability initiatives in device manufacturing, evolving healthcare infrastructure, and the growing awareness of the importance of timely and efficient respiratory care. The criticality of respiratory support, underscored by the impact of respiratory viruses like RSV and the monumental challenges posed by the COVID-19 pandemic, has accelerated market expansion and the development of more advanced and effective oxygen-delivery solutions. This in-depth analysis offers valuable insights for stakeholders navigating and capitalizing on the evolving trends within the Respiratory Oxygen Delivery Devices Market. Customers can also request for 10% free customization on this report. Major companies operating in Global Respiratory Oxygen Delivery Devices Market are:
“As the market continues to evolve, the focus is not just on improving the effectiveness of treatment but also on empowering patients to take charge of their health. The future of the global respiratory oxygen delivery devices market holds exciting opportunities for innovation, better patient outcomes, and a more patient-centered approach to respiratory care,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm. “Respiratory Oxygen Delivery Devices Market By Product (Oxygen Masks, Nasal Cannula, Venturi Masks, Non-rebreather Masks, Bag Valve Masks, CPAP Masks, Others), By End-use (Hospitals, Outpatient Facilities, Home Care, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Respiratory Oxygen Delivery Devices Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Respiratory Oxygen Delivery Devices Market. Download Free Sample Report - https://www.techsciresearch.com/sample-report.aspx?cid=21202
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