Oxygen therapy is the use of oxygen as a medical intervention to maintain enough oxygen in conditions such as hypoxia, hypoxemia, and other related conditions. Oxygen is administered through a nasal cannula, face mask, or through a hyperbaric oxygen chamber. This therapy helps maintain the oxygen level in the blood for the treatment of acute and chronic diseases such as chronic obstructive diseases (COPD), pneumonia, and asthma.
Certain other acute or chronic disease conditions where oxygen therapy is effective include cystic fibrosis, dysplasia, heart failure, sleep apnea, and lung disorders. The administration of supplemental oxygen has become an essential element for the appropriate management of these several disease conditions. Various benefits of oxygen therapy include increased mental stamina, improved breathing pattern, and prevention of heart failure in people with severe respiratory diseases. Long-term oxygen therapy in patients with chronic lung disease is believed to improve the quality and length of life.
According to the World Health Organization (WHO), over 3 million people die each year due to COPD. Increasing the use of oxygen therapy in the treatment of diseases such as COPD, asthma, obstructive sleep apnea, and respiratory distress syndrome is a supportive prevalent trend in the market. Long-term oxygen therapy for patients suffering from chronic lung disease can help improve the quality and length of life, in turn creating a favorable environment for the market. Increasing the risk of lung damage due to tobacco consumption, occupational hazards, and pollution would further augment market growth over the following decade. Over 90% of COPD deaths occur in low income and middle-income countries.
There are several medical device companies, both local and global ones, engaged in the manufacture of oxygen therapy devices. Some of the prominent players are Inogen, Inc. Respironics Inc. (a Philips company), ResMed, Inc. AirSep Corporation, Fisher & Paykel Healthcare Limited, DeVilbiss Healthcare, Teleflex Incorporated, Invacare Corporation, CareFusion Corporation, MAQUET Holding B.V. & Co. KG.
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