As per surveys conducted, a high no. COPD cases are recorded which taken a lot lives every year. According to a study asthma affects nearly 350 million people worldwide and requires the use of oxygen therapy devices to carefully stabilize and support the patient until it get its natural strength to handle load and basic respiration. Oxygen therapy mainly are of two types, one being low flow oxygen therapy and the other is high flow oxygen therapy. High flow oxygen therapy is a form of respiratory support used in cases, often in combination with compressed air and controlled humidity. The rate of oxygen flow is higher in high flow oxygen therapy as compared to other traditional oxygen therapies. The high flow oxygen therapy procedure is majorly dependent on oxygen source equipment’s and oxygen delivery equipment’s which consists of various devices in order to provide regulated but high flow oxygen therapy. A type of venturi mask is placed in order to supply oxygen with mixed air, creating high flow oxygen enriched with desired concentration. A relatively new approach of a high flow nasal cannula is used in procedures needing direct nasal activity. Air blender provides quality delivery independent of the patient’s inspiratory demands. These are some of the major advanced devices associated with the high flow oxygen therapy.
High Flow Oxygen Therapy Devices Market: Market Dynamics
Direct costs related to the respiratory-related care is more which requires a more easy and approachable technique that helps in major breathing assistance. The cost of longer stay for respiratory problems in a hospital is a point which is opposing the point for devices less compatible to achieve that feat. The market is growing with the introduction of advanced high flow oxygen therapy devices which offers efficient patient care that is expected to boost the market. The high flow oxygen therapy device is intended to eliminate the work load related to the procedure involved. Main target clinical indication it is used for is COPD, Bronciectasis, Mucociliary Disfunction, Oxygen Therapy, Chronic cough, Tracheostomy, Obstructive Pulmonary Disease. The mentioned factors are expected to propel the high flow oxygen therapy devices and lead to further expansion in technology used. Increasing pollution is leading to a more unsafe environment to breathe in, causing more no. cases associated with respiratory problems which happens to be a major point for the high oxygen flow therapy devices market to grow.
High Flow Oxygen Therapy Devices Market: Segmentation
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The High Flow Oxygen Therapy Devices market is filled with novel devices claiming their properties to process treatment associated with respiration.
Geographically, the market for high flow oxygen therapy devices can be segmented into six regions - North America, Latin America, Europe, Asia Pacific exc. China, Middle East & Africa and China. North America dominates the global high flow oxygen therapy devices market owing to the advanced healthcare procedures in the region and favorable reimbursement scenario. Europe represents the next leading market with Germany, Italy, U.K. and France holding the major share of high flow oxygen therapy devices market because of the already present local and established market players. However, Asia-Pacific represents the high growth rate in the coming years due to the increasing public awareness, improving access to healthcare facilities and rising healthcare infrastructure with rise in population observed for respiratory cases. MEA represents the least market share globally in the high flow oxygen therapy devices market and projected to observe change due to healthcare advancements. China holds a major share of domestic players which restricts the market to grow globally but provides a fair forecast share in coming years with increase in number of patients with respiratory problems.
Some major key players of High Flow Oxygen Therapy Devices market include Invacare Corporation, CareFusion Corporation, Smiths Medical,., Fisher & Paykel Healthcare Limited, Philips Respironics Inc., DeVillbiss Healthcare, Tecno-Gaz Industries, Allied Healthcare Products, Inc., GE Healthcare, Teleflex Incorporated and MAQUET Medical Systems.
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