Growing Adoption of Oxygen Conserving Devices by Patients with Chronic Respiratory Diseases
Over the past couple of decades, the healthcare sector has witnessed a considerable amount of development, owing to the advent of new technologies, unmet needs, mounting demand for improved medication & treatment, and the onset of an array of medical devices. Oxygen therapy is considered the most reliable and effective treatment for patients suffering from chronic obstructive pulmonary diseases (COPD) and hypercapnic chronic respiratory diseases. Multiple studies have shed light on how oxygen therapy has played an imperative role in improving dyspnea and offer relief from several conditions linked with hypercapnic chronic respiratory diseases, including pulmonary hypertension. Despite significant progress, at present, prescribing and advising patients about how oxygen can be utilized for home therapy continue to pose as a challenge for physicians. In the current scenario, a host of oxygen conserving devices and techniques have entered the market, which are increasingly being used as a standalone or combination treatment.
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Oxygen conserving devices are being extensively used by patients who require oxygen therapy, while they are mobile and away from homecare settings. Furthermore, the demand for portable oxygen conserving devices has witnessed significant growth, particularly for patients suffering from advanced lung disease and require oxygen for a prolonged time period. Oxygen conserving devices are gradually gaining popularity over continuous oxygen flow, as these devices deliver pulsed oxygen only when the patient inhales. The oxygen conserving devices market is witnessing steady growth, as these devices improve the durability of oxygen cylinders and curb oxygen waste. Furthermore, as these devices have proved to reduce oxygen usage by 50%; the adoption of these devices continues to scale new heights. Thus, the global oxygen conserving devices market is expected to reach a market value of ~US$ 261 Mn by the end of 2027.
Research Activities Lead to Development of Improved Oxygen Conserving Devices
Research activities are expected to play an imperative role in the development of advanced oxygen conserving devices. Stakeholders in the oxygen conserving devices market are concentrating their efforts toward improving the design of their devices to optimize the level of oxygen inhaled by patients. At present, different types of oxygen conserving devices that are available include pneumatic, electronic, and disposable. Of which, the adoption of pneumatic and electronic devices is expected to remain higher than disposable oxygen conservers.
Pneumatic and electronic oxygen conserving devices are projected to account for a combined share of ~72% of the oxygen conserving devices market in 2020. While stakeholders continue to emphasize on enhancing the design of their devices, a barrage of lightweight oxygen conserving devices is available. For instance, Responsive Respiratory Inc. developed a disposable oxygen conserving device that is light in weight for hard-to-saturate patients. The new device does not require added humidification, as it comes with an in-built humidification effect.
Oxygen Conserving Devices a Suitable Alternative for Conventional Oxygen Therapy
Conventional home oxygen therapy involves low-flow oxygen and involves continual oxygen flow that is delivered through a nasal cannula. Despite being a relatively simple delivery process, it was wasteful as the oxygen delivered during expiration is largely wasted. Furthermore, a significant volume of oxygen was wasted during late inhalation wherein oxygen does not reach the gas-exchanging lung units. Thus, integrating a range of oxygen sources, including liquid oxygen, lightweight compressed oxygen, and battery-powered oxygen concentrator with various oxygen conserving devices emerged as an ideal oxygen conserving solution. These devices are known as pulsed oxygen delivery systems. Multiple studies and clinical trials have revealed that pulsed oxygen delivery system devices are highly effective in an array of breathing behaviors such as at rest, during sleep, or during exercise.
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Despite these advancements, a significant amount of research is in place to improve the efficacy of modern pulsed oxygen technology. Apart from pulsed oxygen delivery systems, within the oxygen conserving devices market, portable oxygen concentrator devices are also garnering a notable amount of traction, as these devices have optimum functional and physical properties, including weight, size, and can also be used in passenger flights. Thus, due to the growing adoption of portable oxygen concentrator and pulsed oxygen delivery system devices, the oxygen conserving devices market is expected to grow at a steady pace during the forecast period (2019-2027).
The oxygen conserving devices market is expected to grow at a moderate CAGR of ~5% during the forecast period. The growth of the market can be primarily attributed to the significant product development, wherein optimizing oxygen delivery while minimizing oxygen waste was a major area of focus. Stakeholders in the oxygen conserving devices market are inclined toward expanding their footprint in the current market landscape by launching new oxygen conserving devices that operate efficiently in tandem with portable oxygen concentrators and pulsed oxygen delivery system devices. While North America and Europe are expected to be key regions, in terms of innovation, the oxygen conserving devices market in Asia Pacific is expected to witness maximum growth during the forecast period.
Oxygen Conserving Devices Market: Overview
The global oxygen conserving devices market was valued at ~US$ 164 Mn in 2018. It is projected to expand at a moderate CAGR from 2019 to 2027.
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Increasing incidence of COPD diseases, which includes chronic bronchitis, emphysema, and other chronic respiratory diseases, is a major factor that is likely to fuel the growth of the oxygen conserving devices market.
Technological advancements leading to development of oxygen conservers, especially for regulation of oxygen flow as per pulse demand, and new products for pediatric and adult population are estimated to boost the market. Rise in geriatric population, increase in chronic respiratory diseases, and surge in mergers and strategic alliances are anticipated to propel the global oxygen conserving devices market.
Oxygen conserver is a respiratory device that is used to regulate the flow of oxygen from the oxygen tank to the patients. These conservers provide oxygen therapy and offer supplemental oxygen in order to improve the condition of hypoxemia in patients. This condition is a result of several chronic respiratory diseases, which lead to limited or restricted supply of oxygen to the body. Abnormally low levels of oxygen prompt the need for supplemental oxygen therapy and consequently, oxygen conservers play an important part in the management of oxygen flow.
Oxygen conserving devices optimizes the use of oxygen by regulating supply as per demand pulse or through fixed pulse type. All kinds of oxygen conserving devices are initiated when the patient’s breathing triggers the delivery of the oxygen.
The two types of oxygen conservers are fixed pulse type and demand pulse type. The fixed pulse oxygen conserving device delivers a fixed volume of oxygen during breathing. The flow of oxygen is limited to the preset volume, and these kind of devices have higher initial flow rates.
Oxygen conserving devices provide oxygen when the patient inhales and hence, saves high amount of oxygen and last longer than other devices. Oxygen conservers are available in different types such as pneumatic, electronic, disposable and as liquid oxygen conservers. Technological advancements lead to development of portable and lightweight conservers that are available for pediatric and adult patients.
Oxygen Conserving Devices Market: Segmentation
The oxygen conserving devices market has been segmented based on product type, indication, end user, and region
Based on product type, the oxygen conserving devices market has been categorized into oxygen conserver and oxygen conserver parts & accessories. The oxygen conserver segment has been further sub-segmented into pneumatic oxygen conserving device, electronic oxygen conserving device, disposable oxygen conserving device, and others. The pneumatic oxygen conserver device sub-segment held a notable share of the oxygen conserver segment of the market in 2018. The electronic oxygen conserver device sub-segment is estimated to expand at a notable CAGR during the forecast period. The others sub-segment includes liquid oxygen conserver. The pneumatic oxygen conserver is highly recommend by physicians, which detects pulse and delivers oxygen within the first half of the breathing cycle. These conservers are also available in lightweight design, which is likely to drive their demand.
In terms of indication, the oxygen conserving devices market has been classified into chronic bronchitis, emphysema, sleep apnea, and others. The chronic bronchitis segment accounted for a prominent share of the oxygen conserving devices market in 2018. It is expected to maintain its dominance, owing to high prevalence across the globe. This is a highly common COPD disease, which is prevalent in the U.S. As per the National Health Interview Survey in 2018, chronic bronchitis affects around 9.03 million people in the U.S., while emphysema affects around 3.7 million people in the country.
Based on end user, the oxygen conserving devices market has been segregated into hospitals, homecare, and others. The hospitals segment held a major share of the market, owing to well-established hospital care and well-equipped infrastructure coupled with the expertise and rising admissions of people with chronic respiratory conditions. The homecare segment is projected to expand at a notable CAGR, owing to efficient usage of oxygen conserving devices in household settings in offering supplemental oxygen to patients, especially for geriatric patients.
Oxygen Conserving Devices Market: Regional Segmentation
In terms of region, the oxygen conserving devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the oxygen conserving devices market in 2018, owing to increasing prevalence of chronic obstructive pulmonary disease (COPD), including chronic bronchitis and emphysema coupled with the a rise in other chronic respiratory conditions
Moreover, increase in the geriatric population, aging baby boomers, and advancements in technology in order to develop oxygen conserver to provide supplemental therapy have led North America to hold a major share of the oxygen conserving devices market
According to research published by NCBI, in 2019, prevalence of COPD in the U.S. is estimated to be in range of 10.2% to 20.9%, which is likely to drive the oxygen conserving devices market during the forecast period. Presence of key players and introduction of technologically advanced oxygen conservers are likely to boost the market in the region.
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Europe is a significant market for oxygen conserving devices. Increase in prevalence of COPD and other respiratory diseases, rise in geriatric population, technological advancements, significant rise in smoking population, increase in healthcare expenditure, rise in investments in the development of oxygen conserver, launch of disposable oxygen conservers, and increase in awareness about supplemental oxygen therapy are key factors driving the market in Europe. Presence of private players, such as GCE Group and strong distribution chain of medical devices is estimated to boost the oxygen conserving devices market in the region.
Rise in the number of COPD cases in Asia Pacific and increase in disposable income are projected to drive the oxygen conserving devices market in the region. According to the Journal of Lung, Pulmonary & Respiratory Research, an estimated 500,000 deaths are recorded due to COPD in India every year. According to the WHO, COPD prevalence in New Zealand is 10% to 17% of the total population. According to the Lung Foundation Australia, 7.5% of Australians above 40 years of age suffer from COPD. These factors are driving the need of oxygen conservers as a supplemental therapy to patients suffering from chronic respiratory diseases. Moreover, increasing prevalence of conditions such as cancer and asthma in Latin America and Middle East & Africa drive the demand for oxygen therapy and subsequently, oxygen conservers provide optimum oxygen for a longer duration.
Oxygen Conserving Devices Market: Major Players
Key players operating in the oxygen conserving devices market include
- Inogen Inc.
- GCE Group
- Precision Medical, Inc
- Drive DeVilbiss International
- Medline Industries, Inc.
- Graham-Field Health Products
- Inovo, Inc
- Essex Industries
- Krober Medizintechnik
These players are focused on implementation of organic and inorganic growth strategies and development & launch of novel oxygen conservers, which includes portable, lightweight, reliable devices for pediatric and adult population. These strategies are likely to strengthen their product portfolio and global presence. Moreover, companies are engaging in manufacture and supply of leading brands in order to improve patient care and remain competitive in the oxygen conserving devices market.
Key Questions Answered in TMR’s Oxygen Conserving Devices Market Report
- How do recent launching of novel devices provide scope of growth in the oxygen conserving devices market?
- How are ongoing technological advancements for the oxygen conserving devices widening the scope for oxygen conserving devices?
- How are various indication across globe provide opportunities to key players for growth?
- What are the revenue share projections of key segments under various criteria in the oxygen conserving devices market during the forecast period?
- Which segment is likely to lead the oxygen conserving devices market in terms of revenue by 2027?
- How are changing reimbursment scenarios, along with changing healthcare system in developed and developing countries making an impact on the overall oxygen conserving devices market?
Oxygen Conserving Devices Market – Segmentation
- Oxygen Conserver
- Electronic OCD
- Pneumatic OCD
- Disposable OCD
- Oxygen Conserver Parts & Accessories
- Chronic Bronchitis
- Sleep Apnea
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Oxygen Conserving Devices Market
4. Market Overview
4.1.1. Market Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Oxygen Conserving Devices Market Analysis and Forecast, 2017–2027
4.4.1. Market Revenue Projections (US$ Mn)
4.5. Porter’s Five Force Analysis
5. Key Insights
5.1. Technological Advancements
5.2. Disease Prevalence & Incidence Rate globally with key countries
5.3. Reimbursement Scenario by Region/globally
6. Global Oxygen Conserving Devices Market Analysis and Forecast, by Product Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product Type, 2017–2027
6.3.1. Oxygen Conserver
188.8.131.52. Electronic Oxygen Conserver
184.108.40.206. Pneumatic Oxygen Conserver
220.127.116.11. Disposable Oxygen Conserver
6.3.2. Oxygen Conserver Parts & Accessories
6.4. Global Oxygen Conserving Devices Market Attractiveness, by Product Type
7. Global Oxygen Conserving Devices Market Analysis and Forecast, by Indication
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Global Oxygen Conserving Devices Market Value Forecast, by Indication, 2017–2027
7.3.1. Chronic Bronchitis
7.3.3. Sleep Apnea
7.4. Global Oxygen Conserving Devices Market Attractiveness, by Indication
8. Global Oxygen Conserving Devices Market Analysis and Forecast, by End-user
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Global Oxygen Conserving Devices Market Value Forecast, by End-user, 2017–2027
8.4. Global Oxygen Conserving Devices Market Attractiveness, by End-user
9. Global Oxygen Conserving Devices Market Analysis and Forecast, by Region
9.1. Key Findings
9.2. Global Oxygen Conserving Devices Market Value Forecast, by Region
9.2.1. North America
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Global Oxygen Conserving Devices Market Attractiveness, by Country/Region
10. North America Oxygen Conserving Devices Market Analysis and Forecast
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