European Markets For Oxygen Therapy
Rising Incidence of COPD Promotes Growth in the European Markets for Oxygen
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 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.
"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.
For more details , send an e-mail to Radhika Menon Theodore, Corporate
Communications, at email@example.com