Venturi mask market size is set to grow by USD 1,947.69 million from 2022 to 2027; The increasing adoption of home care will boost the market- Technavio
NEW YORK, March 27, 2023 /PRNewswire/ -- The global venturi mask market size is estimated to grow by USD 1,947.69 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of about 13.12% during the forecast period. Moreover, the growth momentum will accelerate. The increasing adoption of home care is notably driving the market growth, although factors such as unfavorable reimbursement scenarios are the market growth. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
Global Venturi Mask Market – Market Dynamics Key factor driving market growth
The increasing adoption of home care is a key factor driving the growth of the market.
Technological advances and improved healthcare services are encouraging many people to receive home-based medical care.
Patients are choosing home care more frequently to avoid the burden of high expenditures and long hospital stays.
Venturi masks are simple to use, combining comfort and efficiency.
Such factors are expected to increase the demand for venturi masks and drive market growth during the forecast period.
Major challenges hindering market growth
An unfavorable reimbursement scenario is a major challenge to the growth of the global venturi mask market.
Declining reimbursement rates and unfavorable changes in payer demographics are having a major impact on the treatment of chronic diseases.
Chronic respiratory diseases such as COPD, asthma, and pneumonia require long-term oxygen therapy.
In the US, the Deficit Reduction Act of 2005 (DRA) limits Medicare reimbursement for home oxygen therapy to 36 months. This will prevent oxygen providers from getting reimbursement for more than his 36 months of treatment.
Such factors will hinder the market growth during the forecast period.
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Global competitiveness and key competitor positions
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Global Venturi Mask Market - Segmentation Assessment Segment Overview
Technavio has segmented the market based on application (COPD, asthma, and others), and end-user (hospitals and clinics, homecare, and ASCs).
The COPD segment will account for a significant share of the market growth during the forecast period. The rising prevalence of COPD is driven by increasing risk factors such as smoking and pollution. Long-term oxygen therapy is the first-line therapy for improving prognosis in COPD patients with chronic respiratory failure. According to the Centers for Disease Control and Prevention (CDC), in 2020, the global prevalence of COPD was approximately 12.2%. It is estimated that 600,000 to one million patients receive long-term oxygen therapy, incurring an annual cost of approximately USD 2 billion. This is expected to drive the demand for venturi masks in the treatment of COPD.
By geography, the global venturi mask market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global venturi mask market.
North America is estimated to contribute 41% to the growth of the global market during the forecast period. North America will hold the largest market share in the global venturi mask market in 2022, with the US being the largest contributor. During the forecast period, the rising prevalence of chronic respiratory diseases, increasing product approvals, availability of advanced devices due to technological developments, heavy investment in R&D, and growing awareness of advanced people will drive the North American market. Also, the number of cases of chronic respiratory problems is increasing in North America due to the prevalence of smoking. Such factors will increase the market growth in this region during the forecast period.
Insights on the market contribution of various segments, including country- and region-wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report
Global Venturi Mask Market – Leading trends influencing the market
Increasing online marketing services is the primary trend in the global venturi mask market growth.
Vendors are focusing on the online marketing of their products to provide better access to customers and increase the volume of product sales.
Moreover, some vendors offer discounts and promotions on their online platforms that increase the number of online purchases.
Furthermore, these products also come with a warranty or guarantee from the manufacturers.
Hence, increasing online sales are expected to drive the growth of the global venturi mask market during the forecast period.
Insights on market drivers, trends, & challenges, historic period (2017 to 2021), and forecast period (2023 to 2027)- Request a sample report!
What are the key data covered in this Venturi Mask Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the venturi mask market between 2023 and 2027
Precise estimation of the venturi mask market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the venturi mask market across North America, Europe, Asia, and Rest of World (ROW)
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of venturi mask market vendors
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The disposable respiratory masks market is estimated to grow at a CAGR of 16.61% between 2022 and 2027. The size of the market is forecasted to increase by USD 5.38 billion. This report extensively covers market segmentation by product (Facemasks and LMA), and geography (North America, Europe, Asia, and Rest of World (ROW)).
The laryngeal airway mask market is estimated to grow at a CAGR of 5.61% between 2021 and 2026. The size of the market is forecasted to increase by USD 55.56 million. This report extensively covers market segmentation by product (disposal and reusable) and geography (North America, Europe, Asia, and Rest of World (ROW)).
Venturi Mask Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 13.12%
Market growth 2023-2027
USD 1,947.69 million
YoY growth 2022-2023 (%)
North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution
North America at 41%
US, Germany, UK, Japan, and China
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Airways surgical Pvt. Ltd., Amechotechnology.com, Becton Dickinson and Co., Braun and Co. Ltd., Chart Industries Inc., Fisher and Paykel Healthcare Corp. Ltd., Flexicare Group Ltd., For Care Enterprise Co. Ltd., GaleMed Corp., HSINER Co. Ltd., Intersurgical Ltd., Invacare Corp., JG Moriya, Medline Industries LP, pfm medical ag, PVS SpA, Smiths Group Plc, Sturdy Industrial Co. Ltd., SunMed, and SureCare Community Services Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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Table of contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global venturi mask Market 2017 - 2021
4.2 By Application Segment Analysis 2017 - 2021
4.3 By Application Segment Analysis 2017 - 2021
4.4 By End-users Segment Analysis 2017 - 2021
4.5 Geography Segment Analysis 2017 - 2021
4.6 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Application
6.1 Market segments
6.2 Comparison by Application
6.3 COPD - Market size and forecast 2022-2027
6.4 Asthma - Market size and forecast 2022-2027
6.5 Others - Market size and forecast 2022-2027
6.6 Market opportunity by Application
7 Market Segmentation by End-user
7.1 Market segments
7.2 Comparison by End-user
7.3 Hospitals and clinics - Market size and forecast 2022-2027
7.4 Homecare - Market size and forecast 2022-2027
7.5 ASCs - Market size and forecast 2022-2027
7.6 Market opportunity by End-user
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 Asia - Market size and forecast 2022-2027
9.6 Rest of World (ROW) - Market size and forecast 2022-2027
9.7 US - Market size and forecast 2022-2027
9.8 Germany - Market size and forecast 2022-2027
9.9 Japan - Market size and forecast 2022-2027
9.10 China - Market size and forecast 2022-2027
9.11 UK - Market size and forecast 2022-2027
9.12 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Airways surgical Pvt. Ltd.
12.5 Becton Dickinson and Co.
12.6 Braun and Co. Ltd.
12.7 For Care Enterprise Co. Ltd.
12.8 GaleMed Corp.
12.9 HSINER Co. Ltd.
12.10 Intersurgical Ltd.
12.11 JG Moriya
12.12 Medline Industries LP
12.13 pfm medical ag
12.14 PVS SpA
12.15 Smiths Group Plc
12.16 Sturdy Industrial Co. Ltd.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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