Oxygen Conserving Devices Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product Type (Electronic Oxygen Conserver, Pneumatic Oxygen Conserver, Disposable Oxygen Conserver, Others), Indication (Chronic Bronchitis, Emphysema, Sleep Apnea, Others); End-User (Hospitals & Clinics, Home Care Settings, Others); and Region & Country.
Oxygen conserving devices are being extensively used by patients who are suffering from advanced lung disease and require oxygen for a prolonged time. These devices are mobile will be easily away from homecare settings. For instance, in December 2018, Inogen Inc. has launched Inogen Connect, a new wireless connectivity platform for the Inogen One G4, through its direct-to-consumer channel. It is a connectivity platform that consists of a front-end mobile application for use by oxygen therapy users and a back-end database portal for use by home care providers. These advancements in oxygen conserving devices will upsurge the market in the forecast period.
Moreover, the increasing cases of chronic respiratory diseases are adding pace to the growth of the oxygen conserving devices market. According to the Office of Disease Prevention and Health Promotion, more than 25 million people in the United States have asthma. And almost 14.8 million adults are diagnosed with COPD, and nearly 12 million people are not yet been diagnosed with respiratory diseases in 2020.
The covid-19 pandemic has impacted the oxygen conserving devices market positively. As the increasing cases of Covid-19 have increased the demand for oxygen conserving devices in some countries and for fulfilling it many developed countries has helped these countries in their crucial times. For instance, UNICEF supports 26 oxygen plants and sends over 4,000 oxygen concentrators, and other critical supplies to India as the country continues to grapple with COVID-19. Also, in May 2021, The Board of Control for Cricket in India (BCCI) has contributed 10-Litre 2000 Oxygen concentrators to boost India’s efforts in overcoming the COVID-19 pandemic. The nation has been hit by an unprecedented second wave of the coronavirus with demands for medical equipment and life-saving oxygen witnessing a major spike. These increasing cases of respiratory diseases across the world will boost the demand for oxygen conserving devices market in the future and many companies will launch new and advanced conserving devices in the forecast period.
Prevalence of COPD Among People aged 45+ in Australia, by Sex & Age-Group, 2017-18 (%)
Inogen Inc., Chad Therapeutics, GCE Group, Precision Medical, Inc, DeVilbiss Healthcare, Medline Industries, Inc., GF Health Products, Inovo, Inc, Essex Industries, and Krober Medizintechnik are some of the prominent players operating in the oxygen conserving devices market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, Electronic Oxygen Conserver segment holds the major share”
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. It improves the efficiency of O2 delivery and is mostly recommended for patients with higher flow requirements.
“Amongst Indication, Chronic Bronchitis segment is anticipated to grow at the highest CAGR during the analyzed period”
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 its high prevalence across the globe. Also, it is a very common COPD disease among the people of the U.S. according to the National Health Interview Survey 2019.
“Amongst End-user, hospitals & clinics segment holds the major share”
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 hospitals have every type of infrastructure and facilities to treat chronic respiratory diseases like COPD, Asthma, and also Covid-19. These diseases require oxygen conserving devices for the proper supply of oxygen to the patients.
“North America signifies one of the largest markets of Oxygen Conserving Devices market”
For a better understanding of the market dynamics of the Oxygen Conserving Devices market, a detailed analysis was conducted for different regions across the globe including 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. North America constitutes a major market for oxygen conserving devices and generated maximum revenue in 2020 owing to the increasing incidences of chronic respiratory diseases and the presence of key companies with robust infrastructures.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Oxygen Conserving Devices Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Oxygen Conserving Devices Market were the three major steps undertaken to create and analyze the adoption of oxygen conserving devices in different segments across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the oxygen conserving devices. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the oxygen conserving devices through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the oxygen conserving devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are product type, indication, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of oxygen conserving devices in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of oxygen conserving devices. Further, we conducted factor analysis using dependent and independent variables such as the increasing incidences of chronic respiratory diseases and the supportive and regulatory framework of these devices will upsurge the demand for oxygen conserving devices. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the oxygen-conserving devices industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the oxygen conserving devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (USD) and the adoption rate of oxygen conserving devices across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the oxygen conserving devices market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the oxygen conserving devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, indication, and end-user of the oxygen conserving devices market.
Main Objective of the Oxygen conserving devices market Study
The current & future market trends of oxygen conserving devices were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of oxygen conserving devices in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, indication, and end-user
- Define and analysis of the regulatory framework for the oxygen conserving devices industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the oxygen conserving devices market for the major region
- Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
- Company profiles of the oxygen conserving devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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