Oxygen Conservation Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Oxygen Conservation Devices market size is expected to be worth around US$ xx billion by 2030, according to a new report by Vision Research Reports.

The global Oxygen Conservation Devices market size was valued at US$ 876.80 Million in 2020 and is anticipated to grow at a CAGR of 22.2% during forecast period 2021 to 2030.

Growth Factors

According to the National Institutes of Health (NIH), nearly 12 million adults have been diagnosed with COPD in the U.S. and 120,000 people die each year. Also, 12 million adults suffer from undiagnosed COPD. According to the data published by the Global Asthma Network, asthma is likely to affect nearly 334 million people worldwide. The patient population has increased owing to an increase in the prevalence of chronic respiratory diseases, which has boosted the demand for these products. This consequent increase in demand is expected to drive the market in the future.

Also, 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. 

Moreover, 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. For instance, Medicare Part B covers all the rental O2 therapy equipment and accessories by including them under the category of durable medical equipment. The abovementioned factors are responsible for boosting the overall growth of the oxygen conserving devices market. 

Report Highlights

Reservoir oxygen delivery devices, also known as reservoir cannulas, held the largest share of the market in 2016 owing to early introduction and high adoption. As these devices improve the efficacy of O2 delivery, they are 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. Owing to the aforementioned factors, the demand for these products is anticipated to remain steady during the future period.

Electromechanical pulsing devices are expected to grow at a lucrative rate of 12.5% throughout the study period. These products were developed to improve patient mobility and conserve O2 flow. They deliver a pulse of O2 to the patient only during the initial part of inhalation. Their ability to provide a rapid early-inspiratory O2 pulse helps in extending the tank life. The overall demand for these products is expected to grow lucratively owing to their high efficiency as compared to other devices.

The transtracheal catheters segment is anticipated to grow at a steady rate during the forecast period. The efficiency of these products is similar to that of reservoir oxygen delivery systems. The advantage of transtracheal catheters is that they are effective in patients with obstructive & restrictive lung diseases and their flow can be adjusted depending upon the rate & depth of respiration as per different diseases. The disadvantage associated with these devices is that they get plugged with mucus and thick secretions owing to which they need to be cleaned daily. As a result, the growth of this segment is expected to remain steady during the future period.

The other segment includes O2 conserving regulators, portable O2 cylinders, O2 concentrators, and liquid O2 systems, which involve the use of either reservoir cannulas or pulsing devices. The integration of the abovementioned devices is carried out to develop better and more efficient conservation systems. The overall growth of the oxygen conserving systems market is expected to be consistent over the forecast period.

The hospitals & clinics segment is expected to grow at a steady rate. Technologically advanced medical equipment is 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.

Moreover, hospital settings have a wide range of facilities and can provide a controlled environment. Thus, patients with severe disorders prefer to be treated in hospitals, and this is boosting the growth of this segment. Furthermore, the presence of government agencies, such as the NHS National Patient Safety Agency to improve O2 management in hospital settings, is also anticipated to fuel the market growth during the forecast period.

Home healthcare held a substantial share of the end-user segment in terms of revenue in 2016. Rising incorporation of long-term oxygen therapy equipment in home settings is anticipated to boost the demand for these products during the forecast period.

Large-scale availability of a wide range of home oxygen therapy equipment is also expected to propel the market during the forecast period. Furthermore, an increasing number of initiatives for enhancing home oxygen therapy services by organizations such as the American Association for Homecare is anticipated to create potential growth opportunities.

North America's oxygen conserving systems market is dominated the overall market and was valued at USD 314.3 million in 2016 owing to high R&D investments & trials about O2 therapy and developed reimbursement framework, among others. Also, increasing the prevalence of chronic respiratory diseases is expected to increase the usage of these products, thereby boosting growth in this region.

Moreover, an increasing number of FDA approvals for the incorporation of oxygen therapy for applications such as cancer, autism, and diabetes is anticipated to drive the market across this region during the forecast period. Furthermore, the presence of organizations such as the Canadian Society of Respiratory Therapy and the Canadian Thoracic Society, which promotes awareness about oxygen therapy, is also contributing to market growth.

The Asia Pacific is anticipated to grow at an exponential rate owing to the increasing geriatric population that requires home-based oxygen therapy. The urgent need to develop new systems and replace them as well as upgrade medical infrastructure is among the factors anticipated to present lucrative growth opportunities.

Rising disposable income, the presence of high untapped opportunities, and continuous R&D activities by key players to develop innovative products are among the factors expected to propel the market to great extent. Furthermore, the establishment of supportive nongovernment organizations, such as the Asia Pacific Association of Allergy, Asthma, and Clinical Immunology, is anticipated to increase awareness about the treatment of respiratory disorders among patients, thereby increasing the adoption of oxygen therapy.

Key Players

Responsive Respiratory, Inc.; Invacare Corporation; Medline Industries, Inc.; Air Liquide; HERSILL, S.L.; Precision Medical, Inc.; Medical Depot, Inc. (Drive DeVilbiss Healthcare); GCE Group; and Essex Industries, Inc. 

Market Segmentation

  • Product Outlook 

    • Reservoir Oxygen Delivery Devices

    • Electromechanical Pulsing Devices

    • Transtracheal Catheters

    • Others

  • End-use Outlook 

    • Hospitals & Clinics

    • Long-term Care Units

    • Home Care

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • The Middle East and Africa

      • South Africa

The Oxygen Conservation Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Oxygen Conservation Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Oxygen Conservation Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Oxygen Conservation Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Oxygen Conservation Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Oxygen Conservation Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Oxygen Conservation Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Oxygen Conservation Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Oxygen Conservation Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Oxygen Conservation Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Oxygen Conservation Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Oxygen Conservation Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Oxygen Conservation Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Oxygen Conservation Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Oxygen Conservation Devices market. These factors have benefited the growth of the global market for Oxygen Conservation Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Oxygen Conservation Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Oxygen Conservation Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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