Oxygen Conservers - Market Insights, Competitive Landscape, and Market Forecast - 2030

Published Date : 2024

Pages : 150

Region : Global,

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Oxygen Conservers Market

Oxygen Conservers Market By Product Type (Pneumatic Oxygen Conserver, Electronic Oxygen Conserver, And Liquid Oxygen Conserving Devices), End-User (Hospitals, Clinics, Nursing Homes, Homecare, And Others), and geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of respiratory disorders such as chronic obstructive pulmonary disorder (copd), asthma, sleep apnea, and others

The global Oxygen Conservers market is estimated to grow at a CAGR of 5.78% during the forecast period from 2024 to 2030. The demand for Oxygen Conservers is primarily being boosted by the rising prevalence of respiratory disorders, such as chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, and others. Additionally, the rising geriatric population and increasing technological advancement leading to the development of portable and convenient oxygen conserver devices are some of the key factors contributing to the growth of the Oxygen Conservers market during the forecast period from 2024-2030.

Oxygen Conservers Market Dynamics:

According to the data provided by a study “Global, regional, and national prevalence of, and risk factors for, chronic obstructive pulmonary disease (COPD) in 2019: a systematic review and modeling analysis” in 2022 it was estimated that the prevalence of chronic obstructive pulmonary disease was 10.3% in the year 2019, which accounted for around 391.9 million cases, globally. Additionally, the World Health Organization 2023, stated that chronic obstructive pulmonary disease became the third leading cause of death as it led to 3.23 million deaths in the year 2019, across the globe. Further, as per the data provided by the World Health Organization 2022, it was estimated that there were around 2.21 million new cases of lung cancer in 2020, globally. Thus the rising prevalence of respiratory disorders due to various factors including increasing air pollution, tobacco smoking, and occupational risks, will create a need for the management and treatment of respiratory disorders, thus resulting in the positive growth of the Oxygen Conserver market.

Another driver for the oxygen conserver market is the rising technological advancements leading to the development of portable and convenient oxygen conserver devices. With increased portability, oxygen conserver devices allow individuals requiring oxygen therapy to maintain their mobility and independence. This is especially crucial for patients who need continuous oxygen therapy, however, they don't want to be confined to their homes or limited in their activities. Therefore, rising technological advancement will positively influence the growth of the Oxygen Conservers market during the forecast period.

However, strict regulatory approval processes by regulatory authorities and high cost associated with the device leading to low accessibility in developing nations are some of the key constraints that may limit the growth of the Oxygen Conservers market.

Oxygen Conservers Market Segment Analysis:

Oxygen Conservers Market by Product Type (Pneumatic Oxygen Conserver, Electronic Oxygen conserver, and Liquid Oxygen Conserving Devices), End-User (Hospitals, Clinics, Nursing Homes, Homecare, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the Oxygen Conservers market, the Electronic Oxygen Conserver category is estimated to amass a significant revenue share in the Oxygen Conservers market in 2023. This can be attributed to the various advantages provided by Electronic Oxygen Conservers. Electronic oxygen conservers utilize advanced sensors and algorithms to deliver oxygen precisely according to the user's breathing patterns. This ensures efficient oxygen utilization and optimal therapeutic effect. Additionally, many electronic conservers allow customization of oxygen delivery settings, such as flow rate and sensitivity. This flexibility enables healthcare providers to optimize the device to the specific needs of each patient. Further, electronic conservers are typically powered by rechargeable or replaceable batteries. This eliminates the need for external power sources or continuous connection to an electrical outlet, providing greater mobility and convenience for users.

Therefore, owing to the above-mentioned factors, the Electronic Oxygen Conserver category is expected to register significant growth, thereby driving the growth of the overall Oxygen Conservers market during the forecast period.

North America Is Expected To Dominate The Overall Oxygen Conservers Market:

North America is expected to account for the highest proportion of the Oxygen Conservers Market in 2023, out of all regions. This can be attributed to the rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, and others. Additionally, increasing technological advancements, a growing geriatric population, and the presence of a highly viable market in terms of product launches and approvals are some of the contributing factors to the growth of the Oxygen Conservers market in North America.

According to the data provided by the American Society of Cancer 2023, it was estimated that there were around 2,38,340 new cases of lung cancer in the United States in the year 2023.

Additionally, according to the data provided by the Centers for Disease Control and Prevention 2021, it was estimated that around 25 million people in the United States were suffering from asthma in the year 2021.

Thus, the rising prevalence of various respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD), Asthma, and Lung Cancer will create a need for the management and treatment of respiratory disorders, thus resulting in the positive growth of the oxygen conservers market in the United States, which will eventually propel the oxygen conservers market in North America.

Further, key players present in the region, such as Medline Industries, Invacare corporation, Precision Medical Inc., and Sunset Healthcare Inc. are currently driving a wide range of initiatives, such as enhancing market access and distribution, making investments in research and development and inking strategic collaborations and partnerships, which will further contribute for the growth of the Oxygen Conservers market in North America.

Therefore, according to the factors mentioned above, the overall market for Oxygen Conservers in North America will increase during the forecast period.

Oxygen Conservers Market Key Players:

Some of the key market players operating in the Oxygen Conservers market include Medicap Homecare GmbH, Invacare Corporation, GCE Group, Medline Industries, Inc., Precision Medical, CHAD Therapeutics, Sunset Healthcare Solution Inc., Essex Industries, Drive Medical, Drive DeVilbiss International, Roscoe Medical, HERSILL, Kröber Medizintechnik GmbH, and Others.

Recent Developmental Activities In The Oxygen Conservers Market:

In September 2022, Responsive Respiratory entered into a partnership agreement with Boost Oxygen. The main aim of the partnership was to distribute Boost Oxygen Products into the homecare market.
In February 2022, Control Devices acquired Essex Industries' medical gas regulator product line. The main objective of the acquisition was to expand Control Devices’ product portfolio in the medical gas regulator space.

Key Takeaways From The Oxygen Conservers Market Report Study

Market size analysis for current Oxygen Conservers Market size (2023), and market forecast for 6 years (2024-2030)
Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
Key companies dominating the Oxygen Conservers market.
Various opportunities available for the other competitors in the Oxygen Conservers Market space.
What are the top-performing segments in 2023? How these segments will perform in 2030?
Which are the top-performing regions and countries in the current Oxygen Conservers market scenario?
Which are the regions and countries where companies should have concentrated on opportunities for Oxygen Conservers market growth in the coming future?

Target Audience Who Can Be Benefited From This Oxygen Conservers Market Report Study

Oxygen Conservers product providers
Research organizations and consulting companies
Oxygen Conservers -related organizations, associations, forums, and other alliances
Government and corporate offices
Start-up companies, venture capitalists, and private equity firms
Distributors and Traders dealing in Oxygen Conservers
Various End-users who want to know more about the Oxygen Conservers Market and the latest technological developments in the Oxygen Conservers market.

Frequently Asked Questions For The Oxygen Conservers Market:

1. What is meant by Oxygen Conservers?

Oxygen conservers are medical devices that are specially designed to regulate and control the flow of oxygen from an oxygen cylinder or tank to a patient's airways. They are commonly used by individuals with respiratory conditions who require supplemental oxygen therapy.

2. What is the market for Oxygen Conservers?

The Oxygen Conservers market is estimated to grow at a CAGR of 5.78% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Oxygen Conservers market?

The Oxygen Conservers market is slated to witness prosperity owing to factors such as the rising prevalence of respiratory disorders, such as chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, and others. Additionally, the rising geriatric population and increasing technological advancement leading to the development of portable and convenient oxygen conserver devices are some of the key factors that are contributing to the growth of the Oxygen Conservers market during the forecast period from 2024-2030.

4. Who are the key players operating in the global Oxygen Conservers market?

5. Which region has the highest share in the global Oxygen Conservers market?

North America is expected to dominate the overall Oxygen Conservers market during the forecast period, 2024 to 2030. This can be attributed to the rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, and others. Additionally, increasing technological advancements, a growing geriatric population, and the presence of a highly viable market in terms of product launches and approvals are some of the contributing factors to the growth of the Oxygen Conservers market in North America.