The oxygen therapy for chronic obstructive pulmonary disease disorders (COPD) market can grow by USD 5.63 billion during 2023 - 2030, and the market’s growth rate will accelerate at a CAGR of 5.68%.
Chronic Obstructive Pulmonary Disorder is a common, treatable, and preventable disease caused by the persistent respiratory system and restricted airflow due to airway and/or alveolar abnormalities generally caused by extended exposure to harmful particles or gases.
In the U.S. Chronic Obstructive Pulmonary Disorder encompasses two main conditions – Emphysema and Chronic Bronchitis. In Emphysema, the walls between the air sacs are damaged so they lose their shape and become floppy. This reduces the amount of air exchange in the lungs. The main cause of COPD is exposure to tobacco smoke, allergens such as pollen, ragweed, or animal dander, irritants in the air such as chemical fumes, or smoke, and severe weather conditions. Other factors such as indoor air pollution (such as fuel used for heating and cooking), outdoor air pollution, occupational dust and chemicals (such as irritants, vapors, and fumes), and frequent respiratory infections during childhood are also driving the global oxygen therapy for chronic obstructive pulmonary disorder market. Key players operating in the global market are aiming on introducing innovative and technologically enhanced products to create lucrative opportunity streams. A rise in the adoption of digital inhalers and triple oxygen therapy treatment options is estimated to create increasing opportunities for manufacturers in the market during the forecast period.
The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has stretched out around the globe at a very rapid pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-hit countries in terms of the number of positive cases and reported deaths. The COVID-19 outbreak has severely affected economies and industries in various countries due to lockdowns and business shutdowns. The global healthcare and pharmacy industry are the major industries that faced serious disruptions such as supply chain breaks, technology events, and office shutdowns as a result of this outbreak. It hampered the overall growth in three main ways: by affecting production and demand, its financial impact on the manufacturing industry, by supply-chain disruptions. The prevalence of chronic respiratory diseases, especially bronchial asthma and chronic obstructive pulmonary disease (COPD) worldwide has increased substantially over the past few years. Both are also categorized as risk factors for severity and poor outcome of COVID-19 disease. Also, due to shutdowns and the restrictive lifestyle that followed the lockdown, the body’s rhythm got disrupted by reduced physical activity, poor sleeping patterns, unhealthy eating habits, and stress. The overall market shutdown due to COVID-19 is also affecting the growth due to the shutting down of factories, disruptions in the supply chain, and a downturn in the world economy.
Growing awareness regarding respiratory and pulmonary diseases is augmenting the market growth:
Growing awareness and increase in literacy rates in several developing and under-developed countries impact the rural population to aim more on one’s health, cleanliness, lifestyle, and overall well-being. Additionally, the coronavirus crisis prompted the demand decisions of modern consumers fostering the market size for Oxygen therapy and other COPD-related therapies.
Increasing urbanization along with the disposable income among the middle-class population is bolstering the market growth:
With a rise in the population, rapidly increasing urbanization, improvement in standards of living, and growing disposable income among the middle-class population, people are understanding the importance of regular health check-ups which has led to an increase in the demand for various drugs, therapies, and diagnoses of COPD-related disorders. Owing to its high demand in the healthcare industry, it is widely available in different price ranges, making it highly affordable among consumers. Therefore, increasing health awareness and the affordable price range of these products together augment the market increasing the demand for Oxygen therapy for COPD across the world.
Surging investments in the healthcare industry are fostering the market:
The rising investments in the healthcare industry are helping in improving its infrastructure along with government organizations implementing several strategies and initiatives to improve the status of healthcare worldwide.
Growing demand for R&D and new technology in the Pharmaceutical Industry is boosting the market growth:
Private capital investment and spending on pharmaceutical R&D and the approval and launch of new therapies and drugs have both increased remarkably in recent years, renewing a decades-long trend that was disrupted in 2008 as the 2007–2009 recession occurred. Particularly, spending on Research and Development in the field elevated by nearly 65% between 2017 and 2020. Many of the drugs and therapies approved recently are high-priced for relatively small numbers of potential patients. Therefore, increased competition and constant innovations in the pharmacy industry are escalating the Oxygen Therapy for COPD market.
Government initiatives and collaborations with NGOs are promoting the demand for Oxygen Therapy in the market:
Governments across the world are progressively promoting health awareness campaigns in collaboration with different NGOs to extend the significance of regular check-ups and adoption of healthy lifestyle habits, specifically across rural populations, increasing the market size.
Patent expiration resulting in hindrance to the market growth:
Driven by an aging population and an increasing number of patent expirations, the global Oxygen Therapy for COPD market is facing declining profit margins. The key patents of multi-billion-dollar brands are set to expire within the next few years. The loss of over 300,000 pharmaceutical jobs over the past few years has been mainly driven by the predicted loss of revenue from drugs that will lose patent protection by 2025. Along the trends of the past several years, the next five years are likely to reflect a huge imbalance between new product introductions and patent losses. This is the major factor limiting global Oxygen Therapy for COPD market growth
GLOBAL OXYGEN THERAPY FOR CHRONIC OBSTRUCTIVE PULMONARY DISEASE DISORDERS MARKET REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 - 2030 |
|
Base Year |
2022 |
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Forecast Period |
2023 - 2030 |
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CAGR |
5.68 % |
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Segments Covered |
By Product, End User and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regional Scope |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Key Companies Profiled |
GE Healthcare , Invacare Corporation , Inogen , IUC Medical (Smiths Medical) , HERSILL S.L. , Fisher & Paykel Healthcare Limited , Philips Respironics, Inc. , DeVilbiss Healthcare , Tecno-Gaz Industries , Allied Healthcare Products, Inc. , Teleflex Incorporated , Chart Industries, ResMedDrägerwerk AG & Co. KGaALinde , CAIRE |
This research report on the Oxygen Therapy for COPD Market has been segmented and sub-segmented based on Product, Application, End-Use, Region, and Key Companies.
Oxygen Therapy for COPD Market – By Product.
Based on the products, Oxygen Therapy for the COPD market is segmented into 2 main categories – Oxygen Source Equipment and Oxygen Delivery Devices.
Oxygen source equipment accounts for the majority share of over 60.0% in 2021, due to its high availability and utilization of O2 concentrators, compressed systems and cylinders, and liquid oxygen. These devices are the primary source of Oxygen therapy and a key factor contributing to the overall growth of the industry. Oxygen concentrators in the oxygen source equipment segment are estimated to project a lucrative growth rate. The portable concentrators are also anticipated to present remarkable growth potential due to their applicability in various healthcare emergencies, and usage in ambulances, rails, and aircraft.
Additionally, the innovation of the technologically evolved oxygen source and delivery devices, which offer efficient patient care, is likely to boost the industry’s growth. The growing popularity and adoption of on-demand Portable Oxygen Concentrators (POC) in a range of applications such as emergency medicine are also predicted to propel the demand over the forecast years. This rise is attributed to global competitors entering the market, demand for technology by consumers, and the medical urgency for greater mobility support for the older population. The oxygen masks segment is anticipated to grow at a steady growth rate as a result of these masks being an integral part of the Oxygen delivery system, resulting in their increased consumption, thereby contributing to the market growth over the coming few years. In addition, these devices enable accurate Oxygen concentration delivery, maintained flow and pressure, and patient comfort, which is likely to increase the segment demand.
Home Healthcare
Hospitals and Clinics
Ambulatory and Surgical Centres
Based on their end-use, Oxygen Therapy for the COPD market is segmented into 3 main categories – Home Healthcare, Hospitals and Clinics, and Ambulatory and Surgical Centres.
The home healthcare segment holds the majority share of over 60.0% in 2021 and is anticipated to grow at a steady rate. The increasing incorporation of Oxygen Therapy devices in home settings is predicted to boost the market.
The hospitals and clinics segment is estimated to grow at a steady rate over the outlook period due to the usage of oxygen therapy equipment and other associated devices in hospitals and clinical healthcare facilities. Furthermore, hospital settings provide a wide range of facilities with a controlled environment, which is anticipated to fuel the preference of patients with severe disorders, thereby boosting the growth of this segment.
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
Based on the region, Oxygen Therapy for the COPD market is segmented into 5 main regions – North America, Europe, Asia-Pacific, South America, Middle-East, and Africa.
North America dominates the market in 2021 with a majority of the revenue share of over 30.0% due to the high R&D investments in the region. Also, the increasing popularity of various Oxygen Therapies in this region is contributing to the market demand. Moreover, the increase in urbanization and occupational hazards in this region also lead to a high risk of respiratory disorders, which is predicted to augment the market growth.
The Asia-Pacific is estimated to project exponential growth during the forecast period. The market is augmented by high R&D investment by the key global players and increasing commercialization of Oxygen therapy for COPD equipment. The constant technological advancements and innovations along with the rising collaboration of key players and their diversification of distribution networks are fuelling the growth of Oxygen therapy for COPD in this region.
GE Healthcare
Invacare Corporation
Inogen
IUC Medical (Smiths Medical)
HERSILL S.L.
Fisher & Paykel Healthcare Limited
Philips Respironics, Inc.
DeVilbiss Healthcare
Tecno-Gaz Industries
Allied Healthcare Products, Inc.
Teleflex Incorporated
Chart Industries
ResMedDrägerwerk AG & Co. KGaALinde
CAIRE
The competition is exceptionally fierce among key players in the market owing to the rise in demand for oxygen therapy along with the growing prevalence of oxygen therapy for COPD. It is anticipated to favour the new entrants due to the rising awareness, technological enhancements, and acceptance of these therapies. Further, companies are enlarging their products and portfolios and scaling their reach in the form of mergers, acquisitions, and collaborations to increase their share in the market. These factors are estimated to help in creating a robust product portfolio and will help in gaining more lucrative opportunities in the market.
Global automotive lighting refers to all vehicle lighting systems, from headlamps that illuminate the road to taillights that communicate movements. They guarantee motorists and other road users alike safety, visibility, and style. While taillights frequently use LEDs for improved visibility, headlights are available in a variety of technologies, including LED and laser. Interior illumination, DRLs, and signal lights all have a role to play. This market, which was estimated to be worth $33.64 billion in 2022, is anticipated to rise to $67.39 billion by 2030 because of laws, luxury tastes, safety concerns, and technological developments like OLED taillights and adaptive headlights. Anticipate a future dominated by intelligent, connected, personalized, and sustainable lighting systems that enhance the safety, efficiency, and aesthetic appeal of automobiles.
Car lighting works its magic to provide safety, visibility, and style. Headlights cut through the night, taillights express intent, and interiors shine with comfort. The billion-dollar global business is expected to rise due to consumer demand for high-end experiences, safer roads, and cutting-edge technology. Imagine dynamic messages being painted by taillights, headlights that adjust to the road, and interiors that customize their atmosphere. Driven by technological advancements like linked systems and laser beams, this future is calling. Anticipate even more visually attractive, environmentally friendly, and intelligent lighting to illuminate the way ahead, making cars safer, more efficient, and unquestionably cooler.
In the market for automobile lighting, safety is the driving force behind demand from the public and laws. While automated high beams smoothly react to traffic, adaptive headlights modify their beams so as not to blind other people. With visually striking displays, dynamic taillights convey intentions for braking and turning. Beyond these developments, integrated pedestrian identification and lane departure alerts will soon make roads safer and brighter for everyone.
Luxurious automobile lighting creates a distinct visual identity that goes beyond simple illumination. Personalized interior lighting customizes the driving experience by setting the mood with a range of colours and intensities, while intricate designs and distinctive DRLs modify exteriors. As you approach your automobile at night, welcoming lights lead the way, resulting in an interior that is perfectly lit. Not only is this symphony of light aesthetically pleasing, but it also stands as a tribute to luxury. Upcoming developments like gesture-controlled lighting and holographic displays promise to further enhance the experience.
The worldwide automotive lighting market is undergoing a significant transition towards energy-efficient solutions, as environmental concerns gain prominence. LED technology is leading the way, providing a ray of hope for the environment and drivers alike. LED lights beam brighter and use a lot less energy than conventional halogen lamps. There are some tangible advantages to this. For drivers, this translates to increased fuel economy, which lowers petrol prices and lessens reliance on fossil fuels. Greater air quality and a reduction in the transport sector's contribution to climate change are the results of reduced overall emissions.
Although the global automotive lighting business is booming, there are still unknowns. Difficulties impede growth even as innovation propels it with eye catching features like laser beams and adaptable headlights. These technologies are luxury items due to their high cost and difficult integration, which puts producers' abilities to the test. The worldwide patchwork created by unclear legislation limits the potential of innovation. Durability issues persist, particularly when complex systems are subjected to challenging conditions. Ultimately, a lot of drivers still don't fully understand how these improvements can help them. Together, we can overcome these obstacles. The keys to reducing costs are improved production, more seamless integration, and unified regulations. Their full potential can be realized by educating customers about the safety, efficiency, and aesthetic value of these lighting wonders. By working together, we can pave the way for an even brighter and safer future for vehicle lighting.
It is made possible by advanced LED technology, which gives drivers the ability to customize their illumination for the highest level of comfort and flair. Consumers that care about the environment want greener products, and vehicle lighting complies. While solar- and self-powered lighting technologies offer a future powered by clean energy, energy-efficient LEDs lower pollution. The advent of connected lighting systems heralds a new age. Envision automobiles interacting with infrastructure and one another to minimize accidents and enhance traffic efficiency. Integrated headlights with pedestrian recognition provide unmatched safety, while dramatic taillights with eye-catching displays alert onlookers to your intentions. The possibilities are endless in the future. Gesture-controlled interior illumination, holographic displays projected onto the road, and even light fixtures with self-healing capabilities.
Due to laws requiring safety features like headlights, taillights, and brake lights, exterior lighting presently holds the most market share in the vehicle lighting industry. The dominance of this market is partly attributed to advancements in safety-focused technologies such as adaptive headlights and daytime running lights. The market value of external lighting is increased by the quick adoption of technology like LED bulbs and laser lights, which improve performance and aesthetics. Conversely, the interior lighting market is expected to increase at the fastest rate in the upcoming years. Innovations like ambient lighting and technology breakthroughs like LED and OLED displays, driven by consumer demand for comfort and personalisation, open new possibilities. The spread of sophisticated interior lighting systems is further driven by the growing emphasis on safety and the expansion of the luxury car market.
The worldwide vehicle lighting market is currently dominated by halogen because of its more affordable price, advanced technology, and useful illumination. With its dependable supply chain and affordable option for manufacturers and cost-conscious customers, halogen holds the biggest market share. The fastest-growing market right now is LEDs, which are predicted to shortly overtake halogen. The rapid expansion of LEDs is driven by their higher efficiency, longer lifespan, flexibility in design, and technological breakthroughs including enhanced brightness. Because LEDs use less energy and produce fewer emissions and better fuel economy, they are becoming more and more popular in the changing automotive lighting market.
Passenger automobiles rule the worldwide automotive lighting market. The sheer number of passenger cars produced which surpasses that of business vehicles and fuels the need for lighting systems is the primary cause of this popularity. The growing demand for personal automobiles in developing nations is a result of rising disposable income, which in turn drives the rise of the passenger car market. The importance that consumers place on safety and aesthetics elements helps to drive market expansion. But in the upcoming years, the market for electric and hybrid cars is expected to develop at the quickest rate. The exponential rise of the worldwide electric car market, which is still expanding and shows no signs of slowing down, is what is driving this surge. Specialised lighting solutions are required since electric and hybrid vehicles have different lighting requirements because of their specific functionality and design aesthetics.
Most lighting systems sold nowadays are sold by OEMs (Original Equipment Manufacturers), primarily because manufacturers pre-install lighting systems in new cars. But in the next years, the aftermarket is expected to develop at the quickest rate. This spike in demand for replacement parts, especially lighting systems, can be linked to several variables, one of them being the average age of cars. The industry is expanding because of consumers' growing desire to personalise their cars with aftermarket lighting upgrades such LED upgrades and decorative lighting. The availability and affordability of technologies like adaptive headlights and laser lights in the aftermarket, together with other advancements in lighting technology, are driving demand even more. Moreover, the growing market for electric cars (EVs).
Throughout the forecast period, Asia Pacific is anticipated to be the automotive lighting market with the highest profitability. Over the past few years, Asia Pacific countries like China and India have seen notable increases in automotive manufacturing and sales, primarily in the medium-to premium luxury car segment. Asia Pacific is predicted to see an increase in the manufacturing of passenger cars, with India experiencing the strongest growth rate. Depending on the state of the national economy, the area offers a suitable selection of both high-end and cheap cars. For instance, there is a substantial demand for halogen, Xenon/HID, and LED since China and India produce more economy and mid-range automobiles. On the other hand, luxury car adoption rates are greater in South Korea and Japan, where LED lighting is the norm.
A brief shadow was thrown by COVID-19 over the worldwide automotive lighting market. Production was stopped by lockdowns and supply chain disruptions, while luxury lighting upgrades were shelved by consumers on a tight budget. Resources became scarce, and R&D stagnated. Still, the market is recovering thanks to resurgent demand and rearranged priorities. While energy-efficient LEDs are being pushed towards adoption by sustainability, safety concerns are driving interest in features like pedestrian detection and adaptive headlights. The digital push of the epidemic creates opportunities for intelligent, networked lighting systems that may interact with infrastructure and other cars. Ultimately, the industry is positioned to shine brighter, focused on safety, sustainability, and a connected future, even though the pandemic dimmed its brilliance.
A development collaboration between OSRAM Continental and REHAU aims to incorporate lighting into external components, providing automobile manufacturers with innovative lighting options that improve functionality and design flexibility. For rear combination lamps, Hella unveiled a revolutionary lighting innovation called Hella FlatLight technology. A Memorandum of Understanding (MoU) was signed by Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a division of Motherson Group, and Marelli Automotive Lighting to investigate a technology collaboration focused on intelligently lighted external body components. Valeo debuted their revolutionary 360° lighting system at the Shanghai Auto Show. This technology surrounds the car with a band of light, projecting instantaneous, clear signs that other drivers can see from a distance. Pedestrians, cyclists, and scooter riders are especially susceptible to these signals
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