The Oxygen Therapy Market size in Latin America was worth USD 0.30 billion in 2022 and is estimated to be growing at a CAGR of 6.93% to reach USD 0.42 billion by 2027. Oxygen therapy involves administering oxygen through an external device.
The growth of the Latin American oxygen therapy market is mainly driven by the rise in different respiratory diseases and the increasing awareness among the general population regarding personal health. The Latin America region is expected to offer a lucrative market in the future due to the increasing elderly population who require home-based oxygen therapy.
Furthermore, increasing the application of oxygen supply is expected to boost the growth of the market further. Be that as it may, poor compensation and the high cost of equipment prevent the growth of the market. Although the Latin American oxygen therapy devices market expects hindrances due to a couple of restrictions, it will discover new development opportunities in growing economies.
This research report on the Latin America Oxygen Therapy Market has been segmented & sub-segmented into the following categories:
By Product Type:
Regionally, Latin America is expected to be a promising region for oxygen therapy devices and witness rapid growth in the coming years. Factors such as a large elderly population, increasing economic growth, rapidly increasing awareness among individuals regarding personal wellbeing, government-based initiatives promoting oxygen therapy devices, and better health care facilities are the key reasons boosting the market in Brazil and Mexico.
Prominent companies leading the LATAM Oxygen Therapy Market are Chart Industries Inc., Invacare Corporation, Becton, Dickinson and Company, Smiths Medical, Teleflex Incorporated, Inogen, Inc., DeVilbiss Healthcare, Essex Industries, Inc., Allied Healthcare Products Inc., and Respan Products Inc.
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