Fisher & Paykel Healthcare Corporation Limited introduced the F&P Solo Nasal Mask in the United States in April 2024 as an alternate treatment for obstructive sleep apnea (OSA). F&P Solo Nasal Mask is the world's first AutoFit mask, with a transformation in the fit-up experience. As compared to traditional masks, AutoFit technology allows individuals to stretch and fit the mask with a touch, providing an individualized fit with minimal effort. This discovery makes mask fitting easier for patients with OSA, improving comfort and convenience.
This technology has a significant effect in that not only does it enhance the user experience but also reduce time healthcare providers have to spend setting it up, thus rendering treatment more effective and accessible. F&P Solo Nasal mask, with its softer and more specific approach, might lead to more compliance by the patients, as well as outcomes in therapy and an increased practice of CPAP therapy for controlling sleep apnea.
Canta Medical showcased a broad portfolio of oxygen solutions in FIME 2023, one of the world's largest international medical exhibitions for the US healthcare market, in July 2023.Over 10,000 healthcare professionals attended the show, which also hosted over 500 medical device distributors and manufacturers and acted as an important platform to showcase innovative healthcare products. Canta Medical's presence with its range of oxygen products at this high-profile show is an opportunity to market its respiratory care solutions to a broad base audience of distributors, medical professionals, and industry experts.
The introduction was highly successful in establishing Canta Medical as a leading company in the oxygen therapy sector. It helped to enhance the company's footprint in the US healthcare sector, with links forged with distributors and the path opened for new product adoption prospects. The launch also raised awareness of the company's high-quality oxygen products, which are critical for the treatment of patients suffering from respiratory ailments, and thus boosted the company's image in the healthcare sector.
Drive DeVilbiss International launched an energy-saving 10-liter oxygen concentrator in May 2023 to address the special needs of challenging situations. This new technology aims to deliver reliable oxygen therapy in rural and semiurban areas where medical services are not readily available.
This release has a major impact as it enhances access to healthcare in underserved communities. Drive DeVilbiss International bridges the gap in rural and semiurban healthcare systems, where oxygen is not readily available, by offering a low-cost and energy-efficient oxygen therapy solution. The technology enables healthcare professionals to provide valuable respiratory care to patients, enhancing their quality of life and reducing the demand for expensive, complicated oxygen delivery systems. It also promotes improved sustainability in healthcare services.
The oxygen therapy is growing at a fast pace due to the growing incidence of respiratory disorders, aging population, and increasing level of air pollution. The oxygen therapy industry is estimated to grow at a CAGR of 5.1% from 2024 to 2031 to reach USD 5.10 billion by 2031, as per report by Coherent Market Insights.
The oxygen therapy industry is growing strongly, fuelled by a number of factors. The increase in incidence of chronic respiratory diseases such as COPD, asthma, and COVID-19 is one of the main drivers of the increase in demand for oxygen therapy. Also, the aging population globally, which is more susceptible to respiratory diseases, also drives the growth of the market.
