Venturi Mask Market size is poised to reach USD 8 Billion by the end of 2035, growing at a CAGR of 10% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of venturi mask was USD 3 Billion. The reason behind the growth is impelled by the growing air pollution across the globe. The biggest environmental risk to human health is air pollution, which can lead to breathing problems such as shortness of breath and difficulty breathing. This may necessitate the use of venturi masks as they are low-flow masks that are used to give regulated oxygen concentrations.
According to estimates, global air pollution, results in over 5 million preventable deaths each year.
The rising technological advancements are believed to fuel the market growth. This has led to the development of more effective and user-friendly venturi masks. The improvement in design and materials have made them more comfortable and have allowed for remote monitoring of patients. Moreover, this would significantly increase the adoption rate of these devices.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~10% |
|
Base Year Market Size (2022) |
~ USD 3 Billion |
|
Forecast Year Market Size (2035) |
~ USD 8 Billion |
|
Regional Scope |
|
Application (COPD, Asthma, Pneumonia, Myocardial Infarction, Respiratory Distress Syndrome)
The COPD segment is estimated to hold around 40% share of the global Venturi Mask Market in the coming years owing to the growing consumption of cigarettes. The fifth leading cause of death globally is COPD which is typically brought on by cigarette smoking, since it contains a lot of hazardous compounds, and can lead to several abnormalities in the trachea, lung tissue, and pulmonary blood vessels. For a patient with COPD, where it's crucial to avoid over-oxygenating the patient, the Venturi mask is considered an ideal option since they reduce the risk of carbon dioxide retention with the partial pressure of oxygen (PO2) titration.
For instance, the annual consumption of cigarettes is over 4 trillion, which results in more than 6 million deaths and about US 1 trillion in economic losses.
End-User (Hospitals and clinics, Homecare, ASCs)
The homecare segment is set to garner a notable share of 39% shortly. After being released from the hospital, oxygen therapy is frequently still required for patients with chronic pulmonary disorders, and to deliver a controlled oxygen flow venturi masks are used which is set by healthcare professional to ensure correct oxygen delivery and avoid other complications.
Our in-depth analysis of the global market includes the following segments:
|
End-User |
|
|
Type |
|
|
Application |
|
North American Market Forecast
Venturi mask market in North America is predicted to account for the largest share of 40% by 2035 impelled by the rising spending in healthcare. The yearly GDP growth rate in the United States is currently over 1% slower than healthcare costs, and the amount spent on healthcare in the US will amount to more than USD 6 trillion by 2028. As a result, this would improve access to medical facilities in the region, leading to more patients seeking treatment for respiratory conditions. This may lead to an increase in demand for venturi masks. The cost of healthcare in the United States in 2021 was over USD 4 trillion, or roughly USD 12,800 per person on average.
APAC Market Statistics
The APAC venturi mask market is estimated to be the second largest, during the forecast timeframe led by increasing awareness among patients regarding respiratory conditions. As a result, people in the region would not ignore their respiratory health and seek timely diagnoses of their conditions. Eventually, this would create more demand for venturi masks in the area.
Author Credits: Radhika Gupta, Shivam Bhutani
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?