Rising Prevalence Of Chronic Respiratory Diseases Like Copd, Asthma, Chronic Bronchitis Will Upsurge The Oxygen Conserving Devices Market. North America To Witness The Highest Growth
Global Oxygen Conserving Devices Market is expected to spread by 2027 expanding at a significant CAGR during the forecast period (2021-2027). The increasing cases of chronic respiratory decide due to the growing population and pollution have stimulated the demand for oxygen conserving devices across the world. These devices are utilized for regulating the oxygen flow from the oxygen tank to patients while they are mobile and away from homecare settings. The devices are developed for keeping oxygen flow minimal and extending the time of the oxygen tank. It signifies that the market for oxygen conserving devices will upsurge in the forecast period.
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The various factors driving the oxygen conserving devices market include the Increasing incidences of chronic respiratory diseases and the advancements in products as they are more comfortable, easy to use, and provide controlled flow rates as per requirements of patients which will upsurge the demand for oxygen conserving devices. Furthermore, the supportive and regulatory framework of these devices is also anticipated to drive the market. For instance, according to the World Health Organisation (WHO), Chronic Obstructive Pulmonary Disease (COPD) is the third leading cause of death worldwide, causing 3.23 million deaths in 2019. Moreover, For early identification and treatment of these diseases, including smoking cessation support, is needed to slow the progression of symptoms and reduce flare-ups.
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The COVID-19 pandemic has shown a considerable effect on oxygen conserving devices as in the second wave of the pandemic many middle-income countries faced sorting of oxygen supplies and increased the demand for oxygen conserving devices to treat Covid-19 patients. For instance, according to The Times of India, India airlifted 23 oxygen generation plants from Germany to meet its oxygen demand during the second wave of the pandemic. Moreover, the National Highways Authority of India (NHAI) has also helped to set up pressure swing oxygen generation plants in 142 government-run hospitals in the State to reduce the numbers of Covid-19 victims.
Based on product type, the market is bifurcated into electronic oxygen conserver, pneumatic oxygen conserver, disposable oxygen conserver, and others. The electronic oxygen conserver segment grabbed the major market in 2020 as these products are designed for better patient mobility and conserve O2 flow. They improve the efficiency of O2 delivery and are mostly recommended by physicians with higher flow requirements.
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Based on indication, the market is bifurcated into chronic bronchitis, emphysema, sleep apnea, and others. The chronic bronchitis segment is expected to record significant growth over the forecast period owing to high prevalence across the globe. According to the World Health Organization in June 2021, chronic bronchitis, or COPD results from long-term exposure to harmful gases and particles combined with individual factors, including events that influence lung growth in childhood and genetics.
Based on end-user, the market is bifurcated into hospitals & clinics, home care settings, and others. The hospitals & clinics segment grabbed the major market in 2020 as the hospitals & Clinics have the proper infrastructure and facilities to treat chronic respiratory diseases like COPD, Asthma, and also Covid-19. These diseases require oxygen conserving devices to provide proper oxygen supply to the patients.
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Additionally, the report provides detailed initiatives that are being taken in the field of oxygen conserving devices. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for oxygen conserving devices and generated maximum revenue in 2020 owing to the presence of key companies and advanced infrastructures.
Some of the major players operating in the market include Inogen Inc., Chad Therapeutics, GCE Group, Precision Medical, Inc, DeVilbiss Healthcare, Medline Industries, Inc., GF Health Products, Inovo, Inc, Essex Industries, Krober Medizintechnik, etc. Several M&As along with partnerships have been undertaken by these players to develop oxygen conserving devices in the market.
Global Oxygen Conservation Devices Market Segmentation
Market Insight, by Product Type
- Electronic Oxygen Conserver
- Pneumatic Oxygen Conserver
- Disposable Oxygen Conserver
Market Insight, by Indication
- Chronic Bronchitis
- Sleep Apnea
Market Insight, by End-user
- Hospitals & Clinics
- Home Care Settings
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Inogen Inc.
- Chad Therapeutics
- GCE Group
- Precision Medical, Inc
- DeVilbiss Healthcare
- Medline Industries, Inc.
- GF Health Products
- Inovo, Inc
- Essex Industries
- Krober Medizintechnik