The rising incidence of chronic obstructive pulmonary disease (COPD) is resulting in an increase in the number of people requiring oxygen therapy treatment, thereby leading to growth in the European oxygen therapy devices markets. These markets, which hold a very small share of the total medical devices market in the region, are experiencing continued growth.
Frost & Sullivan (medicaldevices.frost.com) finds that the European Markets for Oxygen Therapy Devices earned revenues of $232.7 million in 2006 and estimates this to reach $354.5 million in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Markets for Oxygen Therapy Devices, send an email to Radhika Menon Theodore, Corporate Communications, at rmtheodore[.]frost.com with your full name, company name, title, telephone number, email address, city, state, and country. We will send you the information through email upon receipt of the above information.
“There has been a steady increase in the incidence of COPD in the last decade, which has resulted in greater need for supplementary oxygen,” notes Frost & Sullivan Research Analyst Ms. Sowmya Rajagopalan. “Moreover, there have been several promotional programmes to increase awareness of COPD and showcase the differences between COPD and asthma, which have enabled quick and accurate diagnosis of COPD.” Consequently, the demand for oxygen therapy devices has witnessed an increase.
Moreover, with increasing pressure to reduce healthcare expenditure, the home care segment has been given preference and has become a huge revenue generator for the oxygen therapy devices markets. Improvements in the reimbursement system and development of a well-established network of distributors to provide service for the growing home care market are other favourable factors that are influencing market growth.
There has been significant emphasis on R&D to improve treatment through unique devices. Since the traditional use of oxygen stored in large-sized cylinders, the markets have grown due to the use of increasingly sophisticated portable devices. There has been a shift from stationary to portable devices, which has added value to the existing product line.
Several manufacturers have developed devices for different factions of people, such as the active patient population and those in home care settings. The development of new products to cater to all sections of the COPD population has helped the market grow steadily.
However, the oxygen therapy devices markets are niche markets, which lack sophisticated and technologically innovative products. While there has been focus on research to improve the performance of the existing product line, there has been no new addition to it.
“The markets are approaching the maturity stage and market participants will need to invest more in R&D in order to develop innovative products that have varied applications,” states Ms. Rajagopalan. “In these growing markets, manufacturing innovative products of high quality and marketing them strategically will help increase both, revenues and market share.” Moreover, as the markets lack associations between device providers and gas companies, mergers and acquisitions between the two will prove beneficial.
European Markets for Oxygen Therapy Devices is part of the Medical Devices Growth partnership Service, which also includes research in the following markets: compressed oxygen cylinders, oxygen concentrators, liquid oxygen systems, oxygen conserving devices and regulators. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.