Hyperbaric oxygen therapy devices market 2023, on a global basis, offering a forecast and statistic in terms of revenue during the forecast periodOxygen therapy devices are used in oxygen/ supplemental oxygen therapy used for the treatment of certain medical conditions. The primary goal of oxygen therapy device is to maintain targeted SpO2 levels through the provision of supplemental oxygen safely and effectively which infants and children too can tolerate.Oxygen is a vital element for living beings; however, some people cannot breathe enough amount of oxygen naturally due to certain medical conditions such as chronic respiratory disorders, chronic obstructive pulmonary disease (COPD), hypoxemia, heart diseases, and sleeping apnea among others. For them, oxygen therapy is a boon.Also Read https://www.medgadget.com/2020/06/covid-19-outbreak-impact-on-oxygen-therapy-equipment-market-growth-2020-global-industry-size-share-top-company-analysis-technology-developments-key-regions.htmlGrowing prevalence of respiratory diseases drives the market growth of oxygen therapy devices, creating a massive demand across the world. Moreover, the huge amount of benefits these oxygen therapy devices offer to the patients of asthma, heart diseases, and other respiratory issues are escalating the market on the global heights.Acknowledging the kind of traction, this market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global oxygen therapy device market is expected to reach USD 15 BN by 2023; registering approximately 12% CAGR throughout the review period (2017 to 2023). In the year 2016, the market had valued at USD 8 BN which means that the market will garner a growth of almost two-fold.Additional factors supporting the market growth include increasing focus on healthcare among individuals and the awareness about the healthy lifestyle. Moreover, the significant growth in home healthcare is pushing up the demand for these devices. Furthermore, the miniaturization of these devices is one of the major emerging trends contributing to the market growth, globally.The growing prevalence of lifestyle-related disorders such as obesity and chronic lung diseases are fuelling the demand for oxygen therapy devices. On the flip side, factors such as delayed regulatory approvals are obstructing the market growth of the global oxygen therapy devices market.Oxygen Therapy Device Market - SegmentsMRFR has segmented the analysis into four key dynamics; for better understanding: -By Types : Non-re-breather mask, Incubators, Continuous positive airway pressure, Liquid oxygen device, Hyperbaric oxygen chamber, Nasal cannula, Cylinder, Concentrators, and Oximeter among others.By Applications : Hypoxaemia, Heart diseases, Sleeping apnea, Lung diseases, Chronic obstructive pulmonary diseases (COPD), and Respiratory issues among others.By End-Users : Hospital, Clinics, and Patients among others.By Regions : Europe, North America, APAC and Rest-of-the-World.Oxygen Therapy Device Market - Regional AnalysisThe North American region dominates the global oxygen therapy device market accounting for the largest as in approximately 45% of the market share. Factors supporting the growth in the regional market include substantial advancements and the uptake of technologies and the growing prevalence of chronic diseases such as COPD and other heart-related disorders.The European region is another lucrative market for oxygen therapy device. Continuous improvement in medical technologies is a key driving factor responsible for the growth of the regional market. European countries such as the U.K. and Germany backed by the enormous investments made in the development of oxygen therapy devices and related technologies account for the major contributors to the growth in the regional market.The Asia Pacific region is rapidly emerging as a promising market for oxygen therapy device, witnessing huge funding from foreign investors. Availability of cost-competitive logistics such as the land, raw materials, and workforce encourage manufacturers to shift their production bases to countries such as China and India, which in turn, fosters the market growth in the region.Furthermore, heading with the substantial investments put in the development of these devices the oxygen therapy device market in the APAC region is expected to at 8% CAGR throughout the forecast period, creating a large revenue pocket in the global market.Key PlayersFervent players driving the market for the oxygen therapy device include Devilbiss Healthcare, Phillips healthcare, Cardinal Healthcare, Salter Labs, Masimo Corporation, Respironics, CareFusion, Fisher & Paykel Healthcare Limited, Teflex, Bio-Med, Inogen, Smith medicals, O2 Concepts, Medtronic, 3M Healthcare, and 3B Medical.Read More @ https://www.marketresearchfuture.com/reports/oxygen-therapy-device-market-2923About Market Research Future:At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.