Global Oxygen Conservation Devices Market Size By Product (Reservoir Oxygen Delivery Devices, Electromechanical Pulsing Devices), By End-Use (Hospitals And Clinics, Long-Term Care Units), By Geographic Scope And Forecast

Oxygen Conservation Devices Market Size And Forecast

Oxygen Conservation Devices Market size was valued at USD 958.76 Million in 2021 and is projected to reach USD 2,267.95 Million by 2030, growing at a CAGR of 11.5% from 2022 to 2030.

The global Oxygen Conservation Devices Market is primarily influenced by several factors, such as rapid growth in the oxygen delivery tank consumption due to growing cases of chronic obstructive pulmonary disease (COPD). A growing number of asthma patients each year and an increasingly older population are among the key factors boosting the demand for oxygen delivery devices and subsequently propelling the need for oxygen conservation devices during the forecast period. The Global Oxygen Conservation Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Oxygen Conservation Devices Market Definition

Oxygen therapy is considered the most reliable and effective treatment for patients suffering from chronic obstructive pulmonary disease (COPD) and hypercapnic chronic respiratory diseases. Oxygen conservation devices are utilized for regulating the oxygen flow from the oxygen tank to patients while they are mobile and away from homecare settings. These devices are developed to keep oxygen flow minimal and extend the time of the oxygen tank. The two types of oxygen-conserving devices are demand pulse type and fixed pulse type.

Oxygen-conserving devices optimize the use of oxygen by adjusting the supply as per demand pulse or through fixed pulse type. All kinds of oxygen-conserving devices are initiated when the patient’s breathing triggers the delivery of the oxygen. Furthermore, these devices are helpful in comforting the patient by blocking the constant flow of oxygen in the nostrils of the patient. The fixed pulse oxygen-conserving device delivers a fixed volume of oxygen during breathing. The flow of oxygen is limited to the pre-set volume, and these kinds of devices have higher initial flow rates. Oxygen conservers are available in various types such as electronic, pneumatic, disposable, and liquid oxygen conservers.

Technological advancements have led to the development of portable and lightweight conservers that are available for pediatric and adult patients. The oxygen-conserving devices exhibit numerous advantageous benefits such as ease of use, greater comfort, controlled flow rate as required by the patient, enhanced patient response, reduced wastage of gas, and increased portability. OCD is helpful in treating chronic diseases and in the treatment of chronic bronchitis, emphysema, and other chronic respiratory diseases. These are predominately used in hospitals & clinics. Hospital settings have a wide range of facilities and can provide a controlled environment. The oxygen-conserving devices also find extensive applications in long-term care units and home care.

Global Oxygen Conservation Devices Market Overview

The rising incidence of respiratory diseases is expected to boost the demand for Oxygen Conservation Devices (OCD). The patient population has increased owing to an increase in the prevalence of chronic respiratory diseases, which has boosted the demand for these products. Moreover, the demand for technologically advanced products is growing because they deliver better patient outcomes. Some of the potential benefits of these products include greater comfort, ease of use, controlled flow rate as per requirements of patients, enhanced patient response, lower wastage of gas, and increased portability.

These benefits are expected to propel the demand for these products and, in turn, boost market potential. Furthermore, the presence of a supportive regulatory framework is fueling the overall growth of this industry. Increasing reimbursement policies are expected to boost the adoption of these products in home care settings. Additionally, favorable socio-economic and demographic factors such as urbanization, growing population, and rise in the standard of living coupled with the significant improvements in commercial aspects of OCD devices have positively anticipated driving the growth of the global Oxygen Conservation Devices Market.

There are certain restraints and challenges faced which will hinder the overall market growth. The factors such as lack of skilled workforces such as doctors, nurses, and medical experts, and the absence of standards and protocols are limiting the market growth. Also, high device costs is estimated to be sluggish growth during the forecast period. The complex regulatory framework and unawareness in rural areas are the potential restraints hampering the overall growth of the global Oxygen Conservation Devices Market. Nevertheless, the advancements in technologies such as pneumatic and electronic oxygen-conserving devices incorporated with features such as lightweight, battery-powered oxygen concentrators, and the new device do not require added humidification with untapped potential in emerging markets offer favorable growth opportunities.

Global Oxygen Conservation Devices MarketSegmentation Analysis

The Global Oxygen Conservation Devices Market is Segmented on the basis of Product, End-Use, and Geography.

Oxygen Conservation Devices Market, By Product

• Reservoir Oxygen Delivery Devices
• Electromechanical Pulsing Devices
• Transtracheal Catheters
• Others

Based on Product, the market is bifurcated into Reservoir Oxygen Delivery Devices, Electromechanical Pulsing Devices, Transtracheal Catheters, and Others. The reservoir oxygen delivery devices segment holds the largest market share. They are also known as reservoir cannulas. The factors that can be attributed to the early introduction and high adoption. These devices improve the efficacy of O2 delivery, they are mostly recommended for patients with higher flow requirements. Some of the advantages of these products are that they are reliable, easy to use, inexpensive, and disposable.

Oxygen Conservation Devices Market, By End-Use

• Hospitals & Clinics
• Long-term Care Units
• Home Care

Based on End-Use, the market is bifurcated into Hospitals & Clinics, Long-term Care Units, and Home Care. The hospitals & clinics segment is estimated to witness the highest CAGR for the forecast period. The factors that can be attributed to the technologically advanced medical equipment being used extensively in hospitals to improve point-of-care. The hospital’s segment is anticipated to grow at a steady rate owing to the use of oxygen therapy equipment and other associated supplies in hospitals. Quick reimbursements are available for O2 therapy involving the use of oxygen-conserving devices under the Medicare program is fueling the demand for this segment.

Oxygen Conservation Devices Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Oxygen Conservation Devices Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America’s Oxygen Conservation Devices Market holds the largest market share. The high R&D investments & trials about O2 therapy and developed reimbursement framework, among others. Also, increasing the prevalence of chronic respiratory diseases, strong governmental initiatives, and ongoing projects will boost the market in this region.

Key Players

The “Global Oxygen Conservation Devices Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Inogen Inc., GCE Group, Precision Medical, Inc., Medline Industries, Inc., Inovo, Inc., Bostik, Drive DeVilbiss International, Graham-Field Health Products, Essex Industries, Krober Medizintechnik. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In August 2021, a new breathing device has been manufactured by the engineers, scientists, and doctors of the University of Leeds, The Leeds Teaching Hospitals NHS Trust, Medical Aid International, Bradford Teaching Hospitals NHS Foundation Trust, and the Mengo Hospital in Uganda. This new device provides a type of oxygen therapy that is called Continuous Positive Airway Pressure (CPAP) and was created for low- to middle-income countries.
• In April 2019, Inogen launched Inogen One G5 at only 4.7 pounds with 6 flow settings, it is the most balanced portable oxygen concentrator Inogen has ever created to meet the needs of oxygen therapy patients and home medical equipment providers – to be used at home, away and during traveling. The Inogen One G5 represents a step forward into innovation due to its highest oxygen output per pound of the weight of any of the portable oxygen concentrators currently available in the homecare market in the United States.
• In May 2021, Amidst the oxygen crisis brought upon during the unprecedented second wave of the coronavirus pandemic, oxygen concentrators have emerged as the most-touted medical devices for doing the appropriate oxygen therapy. This oxygen concentrator device is capable of providing a continuous supply of around 5-10 liters of oxygen.
• In August 2021, Medline took the responsibility to provide a safe workplace for their more than 300-strong workforce in Australia and New Zealand, many of the employees live and work in Western Sydney, and also responsible to ensure a safe supply of Medline products to the customers. That’s why Medline Australia is mandating the COVID-19 vaccine for all their employees across Australia by 1 December.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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