Oxygen Conservation Devices Market, By Product Type (Pneumatic Oxygen Conserver and Electronic Oxygen Conserver), By End User (Hospitals, Clinics, Nursing Home, Home Care Settings, and Others), and By Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jun 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Oxygen conserving device (OCD) is a pressure reducing device designed to control the flow of oxygen from the oxygen source to the patient. Oxygen conservation devices are used for the patients with severe lung diseases such as chronic obstructive pulmonary disease, diffuse interstitial lung disease, cystic fibrosis or hypoxia related symptoms, which requires long-term oxygen therapy to maintain a normal lifestyle. According to the global asthma report by Global Asthma Network, 2014, asthma has affected around 334 million people so far and prevalence is rising continuously. This suggests the occurrence of severe asthma cases in low and middle-income economies such as India and China. This device offers comfort and increased mobility to the patients. The main aim of manufacturers is to develop efficient, portable, and less intrusive oxygen conservation devices.

Oxygen conservation devices are mainly of two types – pneumatic oxygen conservation devices and electronic oxygen conservation devices. Pneumatic oxygen conservation devices use high pressure of oxygen gas and do not require any external power source such as battery, whereas electronic oxygen conservation devices are battery supported. For instance, Invacare’s Invacare Pneumatic Oxygen Conserver is a pneumatic oxygen conservation device, which has an on and off selector knob coupled with liter flow and continuous flow mode. CHAD therapeutics’ Evolution Electronic Oxygen Conserver requires two AA batteries for its functioning. The Invacare has consistent volume delivery whereas Evolution is featured with pulse ranging from 14 to 40 breathes per minute. The key driver propelling the oxygen conservation devices market is increasing population of patients with chronic lung disorder. Moreover, favorable rental policies and reimbursement policies are driving the present oxygen conservation devices market. However, as a medical device, oxygen conservation device market is expected to be restrained by the stringent regulatory policies employed by the regulatory bodies to monitor the efficacy to the device.

Oxygen Conservation Devices Market Drivers

Large pool of chronic obstructive pulmonary diseases (COPD) and other lung diseases are expected to fuel growth of oxygen conservation devices market. For instance, in 2014, Centers for Disease Control and Prevention (CDC) reported around 1,417,101 deaths globally due to chronic respiratory diseases. Moreover, high prevalence of smoking tobacco is expected to add to the pool of lung diseases. According to Inogen Inc., there were 2.5 to 3 million patients in the U.S. and more than 4.5 million patients worldwide who used oxygen therapy in 2015. Furthermore, the number of oxygen therapy patients in the U.S. increased from around 7% to 10% between 2015 and 2021.

Moreover, as these devices are life supporting devices, oxygen conservation devices are supported by the regulatory policies for oxygen therapy by providing the facility at minimal cost. These oxygen conservation devices are covered under the Medicare Program, according to which around 20% of the cost is only paid by the patient. Moreover, awareness about COPD is spread through various governmental and non-governmental initiatives. For instance, Global Initiative for Chronic Obstructive Lung Disease (GOLD) in collaboration with health care professionals and COPD patients initiated World COPD Day, which began from 2002. For instance, in 2014, American Lung Association launched a campaign called as LUNG FORCE, which focused on research and better treatment option for lung diseases.

Oxygen Conservation Devices Market - Regional Analysis

On the basis of region, the global oxygen conservation devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the oxygen conservation devices market, owing to highly supportive reimbursement policies and high patient population. For instance, Medicare and Medicaid policies of the U.S. offers reimbursement on the prescribed oxygen therapy. However, Asia Pacific is expected to witness significant growth, owing to increasing incidence of asthma and increasing government initiatives to create awareness about the presence of devices such as oxygen conservation device. According to the article in journal Asia Pacific Allergy, 2014, asthma is a major chronic disease in Asia and prevalence of childhood asthma is observed to be continuously increasing over the last decade (2003-2013)

Oxygen Conservation Devices Market – Competitive Landscape

Some of the key players operating in the global oxygen conservation devices market include Medline Industries, Inc., Invacare Corporation, Responsive Respiratory Inc., Drive Medical, DeVilbiss Healthcare Ltd., Precision Medical, Inc., Hersill, S.L., Inogen, Inc., and Essex Industries, Inc.

Oxygen Conservation Devices Market - Taxonomy

On the basis of product type, the oxygen conservation devices market is segmented into:

  • Pneumatic Oxygen Conserver
  • Electronic Oxygen Conserver

On the basis of end user, the oxygen conservation devices market is segmented into:

  • Hospitals
  • Clinics
  • Nursing Home
  • Home Care Settings
  • Others

On the basis of region, the oxygen conservation devices market is segmented into:

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Smiley face

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
Smiley face

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.