The global oxygen conservation devices market size is expected to reach USD 3.95 billion by 2030, registering a CAGR of 12.1% from 2024 to 2030. Growing prevalence of respiratory diseases is expected to boost the adoption of oxygen conservation devices. According to the Global Asthma Network, nearly 334 million people are affected by asthma worldwide. This shows the potential demand for these devices in the coming years.
According to the WHO, rise in the incidence of COPD and other respiratory disorders is anticipated to boost the demand for oxygen therapy and consequentially increase the adoption of these products. Furthermore, factors such as increasing indoor & outdoor pollution and changing lifestyle contribute to the rising incidence of asthma, thereby fueling demand over the forecast period.
Growing demand for technologically advanced products with potential benefits such as less O2 wastage, ease of use, increased portability, and enhanced patient response are among factors expected to generate lucrative growth opportunities. In addition, well-developed reimbursement structure and supportive regulatory framework are propelling the market. For instance, Medicare policies in the U.S. offer reimbursement for oxygen therapy equipment when it is prescribed by a healthcare professional.
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According to the WHO, rise in the incidence of COPD and other respiratory disorders is anticipated to boost the demand for oxygen therapy and consequentially increase the adoption of these products. Furthermore, factors such as increasing indoor & outdoor pollution and changing lifestyle contribute to the rising incidence of asthma, thereby fueling demand over the forecast period.
Growing demand for technologically advanced products with potential benefits such as less O2 wastage, ease of use, increased portability, and enhanced patient response are among factors expected to generate lucrative growth opportunities. In addition, well-developed reimbursement structure and supportive regulatory framework are propelling the market. For instance, Medicare policies in the U.S. offer reimbursement for oxygen therapy equipment when it is prescribed by a healthcare professional.
Oxygen Conservation Devices Market Report Highlights
- Reservoir oxygen delivery devices accounted for a leading market share of 33.6% in 2023. The growth depends on their early introduction and high adoption rate among patients and hospitals.
- Electromechanical pulsing devices are expected to register the fastest CAGR of 12.2% over the forecast period. Due to their technological feasibility, these devices enhance patient mobility and preserve O2 flow.
- The home care segment dominated the market with a share of 41.7% in 2023. The increasing preference for home health care drives patient comfort, the need to reduce hospital-related costs, and the fear of infection accelerates the trend.
- The long-term care unit segment is projected to grow at the fastest CAGR of 12.2 % over the forecast period. The global demographic shift towards advanced life-saving devices drives the demand for long-term care facilities.
- North America dominated the global market and accounted for the largest revenue share, 34.5%, in 2023. The availability of well-developed primary, secondary, and tertiary hospitals supports market growth in the region.
- Asia Pacific oxygen conservation devices market is anticipated to witness significant growth due to the significantly increasing investments in healthcare expenditures.
- Major players are involved in various strategies such as mergers & acquisitions to sustain their market position. For instance, in September 2017, Air Liquide acquired Sogo Sangyo Kabushiki Kaisha, thereby increasing its home healthcare and medical gases business in Japan
The leading players in the Oxygen Conservation Devices market include:
- Invacare Corporation
- Philips Respironics
- Chart Industries
- GF Health Products, Inc.
- Drive DeVilbiss Healthcare
- Inogen, Inc.
- Precision Medical, Inc
- CAIRE Inc. (Chart Industries)
- Teleflex Incorporated
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Oxygen Conservation Devices Market Variables, Trends, & Scope
Chapter 4. Oxygen conservation devices Market: Product Estimates & Trend Analysis
Chapter 5. Oxygen Conservation Devices Market: End Use Estimates & Trend Analysis
Chapter 6. Oxygen Conservation Devices Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
The leading players in the Oxygen Conservation Devices market include:- Invacare Corporation
- Philips Respironics
- Chart Industries
- GF Health Products, Inc.
- Drive DeVilbiss Healthcare
- Inogen, Inc.
- Precision Medical, Inc
- CAIRE Inc. (Chart Industries)
- Teleflex Incorporated
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 1.79 Billion |
| Forecasted Market Value ( USD | $ 3.95 Billion |
| Compound Annual Growth Rate | 12.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
