Oxygen Conserving Devices Market: Current Analysis and Forecast (2021-2027)

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.
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.
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