A new report on the oxygen therapy devices market estimates it will be worth $2.8 billion in 2020.
Oxygen therapy is a form of respiratory care that involves administration of supplemental oxygen in order to prevent any damage to tissue cells as a result of hypoxemia. The prime purpose of oxygen therapy is to increase oxygen saturation levels in the damaged tissues. Oxygen therapy results in reduction in shortness of breath, lesser strain on the heart and better quality of life. Increasing incidences of various respiratory illnesses and growing need for better disease management is driving the growth of the global oxygen therapy devices market. Due to its wide application in the treatment of a number of diseases including chronic obstructive pulmonary disease, asthma, obstructive sleep apnea, pneumonia, respiratory distress syndrome and cystic fibrosis, the oxygen therapy devices market is estimated to propel during the forecast period of 2014 to 2020.