Global Growth and Challenges in the Respiratory Oxygen Delivery Devices Market (2023-2030)

January 26, 2024

The global Respiratory Oxygen Delivery Devices market is projected to grow from US$12.78 billion in 2023 to US$21.06 billion by 2030, at a CAGR of 7.4%. This growth is driven by advancements in battery technology and miniaturization, leading to more portable oxygen concentrators that enhance patient mobility. Integration with telemedicine platforms allows remote monitoring, improving patient care. The market benefits from 3D printing for customized devices and smart inhalers with digital technology for better medication adherence and data transmission. Nanotechnology improves nebulizer efficiency by delivering drugs in nano-sized particles for better targeting and absorption. AI is integrated into ventilators for optimized respiratory support, while wearable technologies enable continuous respiratory monitoring. However, the market faces challenges like cost barriers, regulatory compliance, limited healthcare access in some regions, data security concerns, training needs, resistance to technological change, and global economic uncertainties. Opportunities lie in the aging population, rising respiratory disorders, technical advancements, focus on health and wellness, and remote patient monitoring. The market is segmented into products (oxygen masks, venturi masks), end-users (hospitals, outpatient facilities, home care), and regions, with Asia Pacific and North America as key markets. Key players include GE Healthcare, Koninklijke Philips N.V., and Medtronic.

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[Source: GlobeNewswire, January 25th, 2024]

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