Oxygen Conservation Devices Market Is Projected To Rise At A CAGR Of 12.7% During 2026 | Straits Research

Oxygen Conservation Devices Market:

Global Oxygen Conservation Devices Market was valued at USD 867.3 million in 2018 and is projected to grow at a CAGR of 12.7% during the forecast period.

Oxygen conservation devices are used for regulating the flow of oxygen from an oxygen tank to the patient. These devices are manufactured to keep oxygen flow minimal and subsequently extending the time oxygen tank lasts. Oxygen conservation helps in comforting the patient by partially blocking the continuous flow of oxygen in the patient’s nostril.

Constant growth in the consumption of oxygen tanks and other oxygen sources have ultimately increased the demand for oxygen conservation devices across the globe. Ongoing technological advancements in the oxygen conservation devices field are expected to fulfill the growing needs of the market. According to the Global Asthma Network, more than 339 million people are suffering from asthma across the globe, causing 1000 deaths every day. The increasing number of asthma patients every year is expected to stimulate the demand for oxygen conservation devices during the forecast period.

Chronic Obstructive Pulmonary Disease (COPD) is a generic term for progressive diseases related to lungs, including chronic bronchitis, refractory asthma, and emphysema. According to the World Health Organization (WHO), in 2015, more than 3.17 million deaths occurred due to COPD, accounting for 5% of the total deaths in 2015. Furthermore, 90% of all the deaths occurring due to COPD are registered in economically backward countries. Improper healthcare infrastructure and limited availability of medical facilities are the key factors for a high number of deaths occurring due to COPD. Moreover, the growing rate of pollution and low disposable income in underdeveloped and developing countries coupled with lack of reimbursement policies by the government and private entities are some of the other factors worsening the situation. These factors have created a pool of opportunities for key players in the global oxygen conservation devices market.

High reliability, disposable, inexpensive, and ease of use are some of the factors which have incited the demand for these products in the last few years. Electromechanical pulsing devices are capable of improving patient mobility and conserving oxygen flow by delivering oxygen pulse only during initial inhalation.
Electromechanical pulsing devices segment is expected to account for a significant share of the market as it extends oxygen tank life by providing early inspiratory oxygen pulse. Transtracheal catheters segment is anticipated to experience stagnant growth during the forecast period. It is used for patients suffering from restrictive and obstructive lung diseases; thus limited application area is the determinant for steady segment growth. Moreover, the possibility of transtracheal catheter getting blocked with mucus and other thick secretions is further slowing the segment’s growth. Other segments comprise of portable O2 cylinders, liquid O2 systems, and O2 concentrators. Growth of other segments is expected to be steady during the forecast period.

America comprises of North America and South America. Currently, North America is dominating the global oxygen conservation devices market on account of rapidly increasing prevalence of respiratory diseases, including asthma and chronic obstructive pulmonary disease (COPD). According to the Institute for Health Metrics and Evaluation, in the U.S., 6.7% of all the deaths registered in 2015 were due to chronic respiratory diseases. Institute further stated that during 1980-2014, the U.S. witnessed 30% growth in death rates caused by chronic respiratory diseases varying by type of chronic respiratory disease, sex, and county.

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The Major Prominent Players Covered in this Report:
Medline Industries, Inc., Responsive Respiratory, Inc., Precision Medical, Inc., Invacare Corporation, Air Liquide, GCE Group, HERSILL, S.L., Essex Industries, Inc., and Medical Depot, Inc. (Drive DeVilbiss Healthcare).

By Product, Electromechanical Pulsing Devices, Reservoir Oxygen Delivery Devices, Transtracheal Catheters, Others
By End Use, Hospitals & Clinics, Long-Term Care Units, Home Care

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Key Findings

Increasing prevalence of respiratory diseases including asthma, COPD, and lung cancer
Asia Pacific to witness growth at the fastest CAGR, owing to favorable initiatives taken by government and private associations
Reservoir oxygen delivery devices segment amongst product to gross highest share by value
Home care to be the fastest-growing segment due to heightening demand for long term home care settings

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Key Oxygen Conservation Devices Market Trends:
- The report identifies, determines, and forecasts the Global Oxygen Conservation Devices Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Oxygen Conservation Devices Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Oxygen Conservation Devices Market.

Key Questions Answered in The Report:
What will the Oxygen Conservation Devices market growth rate?
What are the key factors driving the global Oxygen Conservation Devices market?
Who are the key manufacturers in the Oxygen Conservation Devices market space?
What are the market opportunities, market risk, and market overview of the Oxygen Conservation Devices market?
What are sales, revenue, and price analysis of top manufacturers of the Oxygen Conservation Devices market?
Who are the distributors, traders, and dealers of the Oxygen Conservation Devices market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Oxygen Conservation Devices Industry?
What are sales, revenue, and price analysis by regions of Oxygen Conservation Devices industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Our Report Covers:
Historical Inferences, Findings & Analysis of the Market from 2016 to 2018
Projections and Performance Forecast Analysis for the Future from 2019 to 2026
Production and Consumption Point of View (POV) Analysis
Market Drivers, Restraint and Opportunity Analysis, to Define Market Dynamics Covering Industry, Regulatory, Innovation, Technological & Pricing Trends
Comprehensive Competitive Landscape Mapping with Recent Development Covering Market Leadership, Competency, Sustainability, and Prospects

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