Oxygen Conserving Devices Market Demand Rising to Reach USD 4.8 Million by 2032

Posted on 2023-07-29 by Fact.MR in Healthcare // 0 Comments

Rockville, United States, 2023-Jul-29 — /EPR Network/ —

global sales of oxygen conserving devices are projected to increase at a CAGR of 11.6% from 2022 to 2032. In 2022, the oxygen conserving devices market is valued at US$ 1.6 billion and is slated to reach US$ 4.8 billion by the end of 2032. Increasing prevalence of chronic obstructive pulmonary disorders (COPD) and rising focus on healthcare are anticipated to uplift oxygen conserving devices market potential across the forecast period. Supportive government initiatives, technological advancements, and rising availability of portable oxygen conserving devices are other factors that are projected to favor oxygen conserving devices market growth going forward.

Key manufacturers of oxygen conserving devices are focusing on creating novel products to maximize their sales potential and strengthen their global market presence.In August 2021, scientists and doctors at the University of Leeds created a new device that provides Continuous Positive Airway Pressure (CPAP) a type of oxygen therapy. The device was created for low to middle-income countries.

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More recent developments from key companies such as Inogen Inc., GCE Group, Krober Medizintechnik, and HERSILL S.L. have been listed in this new study by Fact.MR, a market research and competitive intelligence provider.

Key Takeaways from Market Study

In 2022, sales of oxygen conserving devices raked in revenue value of US$ 1.6 billion.
Over the next ten years, the global oxygen conserving devices market is estimated to progress at a phenomenal 11.6% CAGR.
The global oxygen conserving devices market is anticipated to be valued at around US$ 4.8 billion by 2032.
The United States market is set to expand at a CAGR of 10.8% through 2032.
Increasing investments in healthcare infrastructure development, rising incidence of chronic obstructive pulmonary disorders, and rising use of oxygen therapy for the treatment of various diseases are factors that promulgate market growth.
However, the high costs of oxygen conserving devices and the presence of a complex regulatory framework are expected to have a constraining effect on oxygen conserving device demand.
The market in the United Kingdom market is set to evolve at a CAGR of 9.8% over the decade.
Sales of reservoir oxygen delivery devices are expected to increase at a CAGR of 11% and account for US$ 1.1 billion by 2032.

Key Companies Profiled

Air Liquide Medical System
Foncepi Comercial Exportadora Ltd.
Inogen Inc.
GCE Group
Krober Medizintechnik
HERSILL S.L.
Precision Medical Inc.
Medline Industries Inc.
Inovo Inc.
GF Health Products Inc.
Invacare Corporation
Bostik
Drive DeVilbiss International

Competitive Landscape

Key stakeholders in the oxygen conserving devices market are expected to focus on strategies that help them expand their business network across the world. Companies in the oxygen conserving devices market are expected to ink new agreements that expand their sales and services to drive revenue generation capacity.

In August 2022, Belluscura PLC, a medical device developer announced that it had entered into an agreement with VGM Group Inc. Through this agreement VGM immediately gains access to Belluscura’s modular portable oxygen concentrator, X-PLOR.
In September 2022, CAIRE Inc., a leading oxygen equipment manufacturer expanded its service support network by making Repair Authority a part of its authorized service center network in the United States.

Winning Strategy

Major market players are increasing investments in research and development divisions to fast-track the launch of new products. Key oxygen conserving devices market players are also anticipated to opt for acquisitions, mergers, partnerships, and collaborations to improve their market stance on a global level.

Oxygen Conserving Devices Industry Research Segments

By Product:
- Reservoir Oxygen Delivery Devices
- Electromechanical Pulsing Devices
- Transtracheal Catheters
- Others
By End User:
- Hospitals & Clinics
- Long-term Care Units
- Home Care
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global oxygen conserving devices market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of product (reservoir oxygen delivery devices, electromechanical pulsing devices, transtracheal catheters, others) and end user (hospitals & clinics, long-term care units, home care, others), across six major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).

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