Oxygen Conservation Devices & Systems Market Size, Share, Growth, And Industry Analysis by Type (Reservoir Oxygen Delivery Devices, Electromechanical Pulsing Devices, Transtracheal Catheters & Others) by Application (Hospitals & Clinics, Long-term Care Units, Home Care & Others), Regional Forecast To 2031

Updated On: 15 April 2024

Oxygen Conservation Devices & Systems Market Report Overview

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The Oxygen Conservation Devices & Systems Market size is expected to grow USD 983.6 Million in 2022 to USD 1793.1 Million by 2031 at a Compound Annual Growth (CAGR) of 6.9% from 2022 to 2031.

Oxygen conservation devices and systems are used to help conserve and optimize the use of oxygen for patients who require supplemental oxygen therapy. These devices work by reducing the amount of oxygen that is wasted during inhalation, allowing patients to use less oxygen while still maintaining adequate oxygen saturation levels in their blood. There are several types of oxygen conservation devices and systems available, including demand oxygen delivery systems (DODS), pulse dose oxygen delivery systems (PODS), and continuous flow systems. Demand oxygen delivery systems (DODS) are designed to deliver oxygen only when the patient inhales. This helps to conserve oxygen by reducing the amount of oxygen that is wasted during exhalation. DODS devices are typically used for patients who require low to moderate levels of oxygen therapy.

The oxygen conservation devices & systems market size is growing due to several factors. Firstly, there is a growing aging population worldwide, with an increasing number of people requiring supplemental oxygen therapy for conditions such as chronic obstructive pulmonary disease (COPD), pneumonia, and other respiratory illnesses. As a result, there is a greater need for efficient and effective oxygen delivery systems that can help to improve patient outcomes while reducing the amount of oxygen needed. Secondly, there is an increasing awareness of the benefits of using oxygen conservation devices and systems among healthcare professionals, patients, and caregivers. These devices can help to reduce the risk of oxygen toxicity, which can occur when too much oxygen is delivered to the body. Additionally, oxygen conservation devices and systems can help to reduce the cost of supplemental oxygen therapy by reducing the amount of oxygen needed and increasing the lifespan of oxygen cylinders.

COVID-19 Impact: The Pandemic Had A Substantial Influence On The Market Increasing Demand For Portable Oxygen Delivery Devices And Driving Up Need For Oxygen Treatment

The COVID-19 pandemic has had a significant impact on the market for oxygen conservation devices and systems. With COVID-19 being primarily a respiratory illness, the demand for oxygen therapy has increased dramatically, particularly in severe cases where patients require hospitalization and mechanical ventilation. This has led to a surge in demand for oxygen conservation devices and systems to ensure that the limited supply of oxygen is used as efficiently as possible. The COVID-19 pandemic has also highlighted the importance of portable oxygen delivery systems, as many patients require oxygen therapy in their homes or in community settings rather than in a hospital setting. The use of portable oxygen concentrators has become increasingly common, as these devices are lightweight, portable, and can be used for extended periods without needing to be refilled.

Furthermore, the COVID-19 pandemic has led to disruptions in the global supply chain, causing shortages of raw materials and components needed to manufacture oxygen conservation devices and systems. This has led to increased production costs and delays in delivery, which has further fueled the demand for more efficient and cost-effective oxygen delivery systems. The COVID-19 pandemic has had a significant impact on the market for oxygen conservation devices and systems, driving up demand due to the increased need for oxygen therapy and highlighting the importance of portable oxygen delivery systems. However, the pandemic has also caused disruptions in the global supply chain, leading to production delays and increased costs.

Latest Trends

"The Creation Of Increasingly Sophisticated And User-Friendly Technologies, Such As Intelligent Oxygen Delivery Systems, Is One Trend In The Market "

Smart oxygen delivery systems are designed to monitor and adjust the amount of oxygen delivered based on a patient's individual needs. These devices use sensors and algorithms to detect changes in a patient's breathing patterns and adjust the oxygen flow rate accordingly, helping to conserve oxygen and improve patient outcomes. In addition to smart oxygen delivery systems, there has been a growing trend towards the development of more portable and lightweight oxygen concentrators. These devices are designed for use in homecare settings and allow patients to maintain their mobility and independence while receiving supplemental oxygen therapy.

Leading players in the market for oxygen conservation devices and systems are investing heavily in research and development to bring these new technologies to market. For example, Philips Healthcare has launched a new range of smart oxygen delivery systems that use advanced algorithms to adjust the oxygen flow rate based on a patient's individual needs. Similarly, ResMed has developed a portable oxygen concentrator that is lightweight and easy to use, allowing patients to maintain their quality of life while receiving supplemental oxygen therapy. Other leading players in the market, such as Invacare and Drive DeVilbiss Healthcare, are also investing in new product development and expanding their product portfolios to meet the growing demand for oxygen conservation devices and systems. 

Oxygen Conservation Devices & Systems Market SEGMENTATION

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• By type

Depending on oxygen conservation devices & systems market given are types: Reservoir Oxygen Delivery Devices, Electromechanical Pulsing Devices, Transtracheal Catheters & Others. The Reservoir Oxygen Delivery Devices type will capture the maximum market share through 2031.

• By Application

The market is divided in Hospitals & Clinics, Long-term Care Units, Home Care & Others based on application. The global oxygen conservation devices & systems market  players in cover segment like Hospitals & Clinics will dominate the market share during 2023-2031.

Driving Factors

"The Rising Incidence Of Respiratory Infections And Other Respiratory Diseases Is One Reason Fueling The Market Growth"

One driving factor boosting the demand for oxygen conservation devices and systems is the increasing prevalence of respiratory illnesses, such as chronic obstructive pulmonary disease (COPD), asthma, pneumonia, and other respiratory conditions. These conditions can cause difficulty breathing, leading to a reduced level of oxygen in the bloodstream, which can have a significant impact on a person's quality of life and overall health. According to the World Health Organization (WHO), respiratory illnesses are the second leading cause of death globally, and their prevalence is expected to increase in the coming years. This is due to a range of factors, including air pollution, smoking, aging populations, and lifestyle factors. As the prevalence of respiratory illnesses continues to rise, the demand for oxygen therapy is also increasing, creating a need for more efficient and cost-effective oxygen conservation devices and systems. These devices can help to reduce the amount of oxygen needed, improve patient outcomes, and reduce the cost of supplemental oxygen therapy, making it more accessible to a wider range of patients. Overall, the increasing prevalence of respiratory illnesses is a driving factor boosting the oxygen conservation devices & systems market growth.

"The Growing Emphasis On Home Healthcare And Patient Mobility Is Another Factor Fueling The Need For Oxygen Conservation Devices And Systems"

Another driving factor boosting the oxygen conservation devices & systems market growth is the increasing focus on home healthcare and patient mobility. Many patients with respiratory illnesses require supplemental oxygen therapy, which was traditionally provided in a hospital setting. However, with advancements in technology and changes in healthcare policies, there is a growing trend towards providing oxygen therapy in homecare settings. This trend towards home healthcare is driven by several factors, including the desire to reduce healthcare costs, improve patient outcomes, and increase patient comfort and satisfaction. Homecare oxygen therapy allows patients to receive the care they need in the comfort of their own homes, reducing the need for hospitalization and improving patient quality of life. As a result, there is a growing demand for portable and lightweight oxygen conservation devices and systems that can be easily transported and used in a homecare setting. These devices allow patients to maintain their mobility and independence while receiving the oxygen therapy they need, improving their quality of life and reducing the burden on the healthcare system. Moreover, homecare oxygen therapy is increasingly being recognized as an effective alternative to hospitalization, particularly in the context of the COVID-19 pandemic. By providing oxygen therapy in a homecare setting, patients can avoid exposure to the virus in a hospital setting and receive the care they need in a safe and comfortable environment.

Restraining Factors

"The High Price Of These Devices Is One Issue Limiting The Market Growth For Oxygen Conservation Systems And Equipment"

One restraining factor affecting the oxygen conservation devices & systems market growth is the high cost of these devices. Oxygen conservation devices and systems are often more expensive than traditional oxygen therapy devices, due to the advanced technology and engineering required to conserve and deliver oxygen more efficiently. The high cost of these devices can make them inaccessible to many patients, particularly those who do not have adequate insurance coverage or live in regions with limited healthcare resources. This can limit the market for these devices and make it difficult for manufacturers to reach a wider customer base. In addition, the high cost of oxygen conservation devices and systems can also impact healthcare providers, who may be reluctant to invest in these devices due to budget constraints. This can limit the adoption of these devices in healthcare settings, further limiting the market for these products. Overall, the high cost of oxygen conservation devices and systems is a significant restraining factor affecting the market growth and the adoption of these products, which must be addressed through innovation and collaboration to increase accessibility and affordability for patients and healthcare providers.

Oxygen Conservation Devices & Systems Market Regional Insights

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"Asia-Pacific Region Is Expected To Be A Leading Market For Oxygen Conservation Devices And Systems, Driven By A Large And Growing Population And Rapid Economic Growth"

The Asia-Pacific region is expected to be the leading region for the oxygen conservation devices and systems market in terms of growth rate. The region is home to a large population and a growing geriatric population, which is particularly vulnerable to respiratory illnesses and may require supplemental oxygen therapy.  In addition, the region has been experiencing rapid economic growth, leading to increased healthcare spending and infrastructure development. This has created opportunities for manufacturers of oxygen conservation devices & systems market share holder to expand their market presence and reach a wider customer base. Moreover, the COVID-19 pandemic has highlighted the importance of oxygen therapy and the need for efficient and effective oxygen conservation devices and systems. This has led to increased demand for these products in the Asia-Pacific region, as healthcare systems work to ensure that they have adequate supplies of oxygen to treat COVID-19 patients. Furthermore, governments in the region are increasingly investing in healthcare infrastructure and policies to improve healthcare access and quality. This includes efforts to improve access to oxygen therapy and increase adoption of advanced technologies such as oxygen conservation devices and systems.

North America is the second-leading region for the oxygen conservation devices and systems market in terms of market share. The region has a well-established healthcare infrastructure and a large patient population that requires supplemental oxygen therapy. In addition, the region has a high prevalence of respiratory diseases, including chronic obstructive pulmonary disease (COPD), which is a major driver of the oxygen therapy market. The increasing prevalence of respiratory diseases in North America is expected to continue driving demand for oxygen conservation devices and systems. Furthermore, the region has a strong presence of leading players in the oxygen conservation devices and systems market, who are investing in research and development to improve product efficacy and expand their market presence. These players are also actively engaged in mergers and acquisitions to expand their market share and increase their product offerings. Moreover, the COVID-19 pandemic has had a significant impact on the oxygen therapy market in North America, leading to increased demand for oxygen therapy devices and systems, including oxygen conservation devices. This has further driven the growth of the oxygen conservation devices & systems market share in the region.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Responsive Respiratory, Inc. (U.S)
• Invacare Corporation (U.S)
• Medline Industries, Inc. (U.S)
• Air Liquide (France)
• HERSILL, S.L. (Spain)
• Precision Medical, Inc. (U.S)
• Medical Depot, Inc. (Drive DeVilbiss Healthcare) (U.S)
• GCE Group (Sweden)
• Essex Industries, Inc. (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.