Top 4 Reasons the O2 Therapy Market Continues to Expand
Top 4 Reasons the O2 Therapy Market Continues to Expand
Oxygen concentrators and cylinders are in demand more now than ever. In the global O2 marketplace, more than $7 billion was spent on oxygen therapy each year. The top 4 reasons the O2 therapy market continues to expand will soon be discussed.
A big reason for the demand increase is the rising number of people who are developing respiratory disorders and chronic pulmonary diseases, conditions that require oxygen therapy as treatment.
For example, roughly 300 million individuals throughout the world have received an asthma diagnosis of some kind, and 250,000 of these people succumb to the ailment each year.
By the year 2026, it is predicted that more than 100 million people will need oxygen cylinders because of their asthma condition. When you consider all the other conditions which affect the respiratory system, the demand is even higher.
Ageing Population
People are living longer now than ever before in history. Greater numbers of elderly who need treatment for their medical problems and conditions, particularly relating to their breathing, equate to a greater demand for oxygen cylinders.
With all the different models of oxygen concentrators and cylinders available, these older people are now seeing new opportunities for more affordable medical treatments without having to see their doctor all the time to get oxygen.
Public Health Awareness
People in countries around the globe are starting to take note of the serious health issues aided by oxygen.
Aside from diseases that limit respiratory function in people, there are also environmental toxins and pollutants which makes the quality of the natural oxygen we breathe very poor. It’s no coincidence that oxygen bars have become so popular in big cities.
More people are interested in using oxygen concentrators to breathe quality oxygen if they are in an environment with a lot of pollution.
Then, of course, there are those who are suffering from respiratory issues and are now just learning about the options for purchasing oxygen concentrators for their homes at affordable prices.
Disposable Income
There is now, more disposable income in the developing nations of the world. The rise in global telecommunications allows people from developing nations to find jobs on the internet and earn income.
This access provides them more disposable income to spend on products they really need, such as oxygen concentrators and cylinders to provide them with clean oxygen.
Technological Advancements
In the old days, oxygen concentrators were only available in hospitals and medical facilities. Now there are stationary oxygen concentrators placed in homes for people to have home oxygen therapy through tubing.
Aside from that, there are portable oxygen concentrators constructed with wheels so that people can roll them around as they’re going about their daily lives.
As a result, people no longer need to be confined to a bed in their home or hospital if they have respiratory issues. They can perform everyday activities without any assistance while still getting oxygen from their portable oxygen concentrator.
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