Oxygen Conservation Devices Market Size, Share & Trends Analysis Report By Product (Reservoir Oxygen Delivery Devices, Electromechanical Pulsing Devices), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Oxygen Conservation Devices Market Trends

The global oxygen conservation devices market size was valued at USD 1.79 billion in 2023 and is projected to grow at a CAGR of 12.1% from 2024 to 2030. The growth is due to the global rise in the aging population with an increasing occurrence of chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma fueling the demand for breathing devices. As life expectancy is growing the need for long-term oxygen therapy is also increasing. Hence, the demand for efficient and cost-effective oxygen delivery devices is anticipated high in the upcoming years.

Furthermore, technological advancements in oxygen conservation devices add to their feasibility. Manufacturers are developing more convenient, small, and user-friendly devices that help patients move easily with devices. These devices have better battery life, advanced sensors for precise oxygen delivery, and compatible with mobile applications for remote device monitoring.

The growing popularity of low-cost oxygen conservation devices fuels the market demand. The devices assist in reducing the wastage of resources and optimally improve patient costs. Besides, the rise in healthcare expenditures, overheads, and the growing adoption of oxygen conservation devices encourage market growth. Moreover, the demand for in-house care is significant. The community geriatrics with breathing problems require in-house oxygen support to carry out regular chores. With the support of conservative devices, the oxygen supply can be optimally regulated.

Product Insights

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. Oxygen delivery is easy for patients requiring high oxygen flow due to their efficiency, low cost, and user-friendly features. Hospitals and clinics offer many facilities for treating patients with critical conditions, fueling market growth. Also, the availability of government institutions, such as the NHS National Patient Safety Agency, to improve the management and availability of oxygen devices drives more engagement with conservation devices.

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. They deliver a pulse of O₂ to the patient only during the initial part of inhalation. Their ability to provide a rapid early-inspiratory O₂ pulse helps extend the tank life. They have portable batteries and can be carried on the go. The growing trend towards home care treatment and technical advancements boost their demand.

End-use Insights

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. Advances in telemedicine and remote patient monitoring technologies significantly contribute to the demand. The increasing incidences of chronic respiratory diseases increase the demand for long-term oxygen delivery devices in the aging population. Government initiatives and insurance policies supporting home health care contribute to this trend. The home care facility offers a quality of life and reduces overall healthcare costs, making it an attractive option for patients.

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. With the availability of life-saving devices, people are more likely to develop a chronic respiratory disease that requires continued oxygen therapy. Long-term care institutions demand effective, low-cost delivery systems addressing the growing patient population.

In addition, oxygen-conserving devices offer significant benefits, such as reduced oxygen wastage, optimized operating costs, and improved patient mobility. The shift towards value-based healthcare is gaining adoption, as these devices improve patient outcomes with more efficient resource use. In addition, advances in device technology, such as improved battery life and better monitoring, are making oxygen storage devices more suitable for the long-term needs of patients.

Regional Insights

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. Additionally, a well-developed reimbursement network, favorable government funding, and the increasing awareness of oxygenated devices are increasing their adoption in clinical settings. In addition, developing oxygen device technology with more advanced characteristics has strengthened the market positioning.

U.S. Oxygen Conservation Devices Market Trends

The U.S. oxygen conservation devices market dominated the North American region. The considerable healthcare spending, reimbursement schemes, and the presence of key oxygen device manufacturers have all contributed to the widespread adoption of these critical medical devices. The increasing elderly population is more prone to chronic respiratory and cardiovascular issues, has further stimulated the demand for oxygen conservation devices in the country.

Europe Oxygen Conservation Devices Market Trends

The Europe oxygen conservation devices market is experiencing consistent expansion due to factors such as the rising incidence of chronic respiratory diseases and the increasing use of cutting-edge medical technologies. The presence of a growing elderly population is also fueling market growth.

The UK oxygen conservation devices market played a significant role in the European market, as there is an increasing need for oxygen-conserving devices in hospitals. The growing trend of adopting home healthcare facilities is also fueling the market. Germany's oxygen conservation devices market held a substantial market share in 2023 owing to the country's healthcare infrastructure and robust investment in healthcare expenditures. Also, government policies and the dominance of prominent medical device manufacturers are expected to drive market growth.

Asia Pacific Oxygen Conservation Devices Market Trends

Asia Pacific oxygen conservation devices market is anticipated to witness significant growth due to the significantly increasing investments in healthcare expenditures. The growing prevalence of chronic respiratory diseases and rising awareness about the usage of oxygen conservation devices have led to a rise in their adoption rate in hospitals and also in home healthcare.

India oxygen conservation devices market plays a significant role in the Asia Pacific region, driven by the rapid growth of its healthcare industry, rising investments in medical technology, and the increasing use of advanced medical techniques is expanding the market growth.

Japan oxygen conservation devices market has grown due to its technological advancements and robust healthcare infrastructure. Furthermore, the country's large elderly population demands more oxygen devices, propelling the market growth.

Key Oxygen Conservation Devices Company Insights

Some leading market players invest significantly in R&D to diversify their product portfolios. Market players are involved in strategic partnerships to increase their global market share. Some key factors are product development, partnerships, acquisitions, investment plans, and other collaborations with other organizations.

• Philips Respironics is a global provider of products including portable and stationary oxygen concentrators such as the SimplyGo, SimplyGo Mini, and EverFlo series, which provide continuous flow or pulse-dose oxygen delivery. The company is continuously working on innovation in respiratory care offering a number of products such as oxygen concentrators ventilators and oxygen-conserving devices. They also produce home oxygen concentrators.

• Invacare Corporation is a manufacturer and distributor of medical devices in critical care. The company designs, manufactures, and distributes medical devices that assist people with movement, breathing, comfort, and essential hygiene.

Recent Developments

• In September 2022, GF Health Products, Inc. invested in advanced 3D Fiber Optic Laser Tube Cutting System. This advancement supplements the Graham-Field’s existing laser cutting equipment. The 3D-Tilt Cutting Head results in prompt, precise, and consistency with the help of CGI.

Oxygen Conservation Devices Market Report Scope

Global Oxygen Conservation Devices Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global oxygen conservative market report based on product, end-use, and region.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Reservoir Oxygen Delivery Devices

  • Electromechanical Pulsing Devices

  • Transtracheal Catheters

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals & Clinics

  • Long-term Care Units

  • Home Care

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa