Topical Oxygen Therapy Market To Grow with CAGR of 3.5% By 2029
The latest market report published by Acute Market Reports “Topical Oxygen Therapy Market- Growth, Future Prospects & Competitive Analysis, 2019 – 2029” Topical oxygen therapy market expected to reach a CAGR of 3.5% during the forecast period from 2021 to 2029.
Key factors driving this market include growing incidence of chronic wounds, increasing patient pool of diabetics, and high incidence of wound site infections. Some of the major trends responsible for market growth are increased number of surgical procedures, and technological advancement in advanced wound care. Additionally, evolution of advanced wound management products, introduction of products at subsidized prices and greater number of initiatives undertaken by governments and healthcare organizations will open new opportunities for topical oxygen therapy market during the forecast period from 2018 to 2026. As per the International Diabetes Federation, in 2017, 425 Mn individuals had diabetes, which will ascend to 629 Mn by 2045.
Browse the full report Topical Oxygen Therapy Market – Growth, Future Prospects and Competitive Analysis, 2021–2029 report at https://www.acutemarketreports.com/report/topical-oxygen-therapy-market
North America is leading stake holder in this market and Asia pacific is fastest growing market. Huge patient pool of non-healing and chronic wounds combined with boosted healthcare facilities and imposed financial burden remain key factors impacting the topical oxygen therapy market. Because of less immunity and slower healing process the threat of microbial infections is high in chronic disease and geriatric patients post surgeries. This will surge the demand for topical oxygen therapy, and hence it will drive the market during the forecast period from 2019 to 2029. The ascendancy of North America will be clearly challenged by the Europe. Owing to the strong government support there are huge chances for market diffusion in nations like India, China, and Mexico to the market players at present having a strong hold in developed countries. The need for topical oxygen therapy systems has become prominent in Asia Pacific owing to the continuous rise in the population, high incidence of chronic wounds, and growing diabetic patient pool in the region which will boost the market during the forecast period from 2021 to 2029.
Single-use topical oxygen systems are the largest product type by value and estimated to retain its prominence, while single use adhesive patch systems expected to record highest CAGR throughout the forecast period from 2021 to 2029. These systems are easy to use across various healthcare sites such as wound care clinics, home settings, hospitals and nursing homes. These devices are easy to set up and being single use, prevent the occurrence of contamination. Reusable topical oxygen systems are a preferred choice among end users with lower cost requirements.
Key Market Movements:
• Global topical oxygen therapy market will experience steady growth with a CAGR of 3.5% during the forecast period from 2021 to 2029
• Rising incidence of chronic wounds and growing diabetic population
• Advancement in the technology of oxygen therapy devices and evolution of advanced wound management products
The Global Topical Oxygen Therapy Market is Segmented into:
|Segmentation||By Product Type Segment (2019-2029; US$ Mn)|
|By Application Type Segment (2019-2029; US$ Mn)|
|By Geography Segment (2019-2029; US$ Mn)|
*Complete segmentation list is on report page
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