Product ID: SQMIG35B2195
Oxygen Therapy Equipment Market Size, Share, Growth Analysis, By Product(Oxygen Source Equipment, Oxygen Delivery Devices), By End User(Hospitals, Home Care), By Application(COPD, Asthma) - Industry Forecast 2024-2031
Report ID:
SQMIG35B2195 |
Region:
Global |
Published Date: April, 2024
Pages:
218
|
Tables:
93 |
Figures:
73
Oxygen Therapy Equipment Market Dynamics
Drivers
Advancements in Oxygen Therapy Device Development
- Investments in medical device technology R&D are rapidly increasing around the world and fostering innovation. These continual investments in R&D are creating new opportunities for oxygen therapy equipment companies.
High Incidence of Respiratory Disorders
- People suffering from respiratory diseases have increased rapidly in recent years and this can directly be linked to increased levels of pollution around the world. Oxygen therapy equipment plays a crucial role in the treatment of these disorders and hence it drives market growth as well.
Restraints
High Costs
- Oxygen therapy equipment is quite expensive to procure and use since it utilizes advanced technologies. These high costs are a barrier to oxygen therapy equipment adoption in hospitals with limited budget and therefore could slow down market development in the future.
Reimbursement Issues
- Therapies or medical procedures involving the use of oxygen therapy equipment don’t have the best reimbursement or medical insurance coverage and this means patient’s have to pay the price out of their own pockets. This limited reimbursement could hamper oxygen therapy equipment market growth in the long run.
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