Oxygen therapy is one of the most reliable and effective ways of treatment for patients who are suffering from diseases such as chronic obstructive pulmonary diseases (COPD), hypercapnic chronic respiratory diseases, and others. Oxygen conservers are devices that are used for regulating the flow of oxygen from the tank to the patients. Oxygen conservers devices are developed to regulate the oxygen flow by keeping it to a minimum which extends the time of the oxygen tank.
Oxygen conservers are devices that are used for optimizing the flow of oxygen by adjusting the supply of the oxygen as per the demand of the pulse or through a fixed pulse. Different kinds of oxygen conserving devices are used when the patient triggers the breathing for the delivery of the oxygen. Moreover, these devices help in comforting the patient by blocking the constant flow of oxygen in the nostril. The fixed pulse oxygen conserving device has a fixed volume of oxygen which helps during breathing. The flow of oxygen ends at a pre-set volume, which makes these kinds of devices have higher initial flow rates.
Impact of Covid-19
- There has been an increase in the demand for medical supplies to take care of the infected population. Respiratory support devices such as atomizers, life-support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. There is an increase in the need for medical supplies, both from healthcare professionals and the civil population for precautionary measures, owing to the rise in the number of COVID-19 cases globally. Manufacturers of these products have a chance to capitalize on this increased demand for medical supplies to ensure an adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the oxygen conservers market.
- The oxygen conserves market has seen significant growth in the second wave of COVID-19 as many countries are facing problems with a lack of oxygen supplies for COVID-19 positive patients. The market has significantly grown at this time as more oxygen conservation devices were in demand. The demand for oxygen to counter COVID-19 has been growing and the device market for regulating oxygen is also growing significantly.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
- Oxygen conservers are increasingly gaining popularity. The device delivers continuous oxygen flow to the patient in increments. as it improves the strength of oxygen cylinders and prevents oxygen emissions. Due to these features, the product market is experiencing steady growth.
- Every year the number of asthma patients has been growing as well as an increase in the geriatric population, need for oxygen supply drives the growth of this market.
- The factors that accelerate market growth include technological advancements in electronic oxygen conservers may lead to many possibilities, emphysema, bronchitis, and other respiratory diseases treatment need oxygen in the current pandemic which can also lead to the growth of oxygen conservers market.
- The factors which hinder the growth of oxygen conservers devices include shortage of skilled staff such as doctors, nurses, medical technology as these devices needs to be monitored from time to time and oxygen supply should be either increased or decreased accordingly, and the lack of standards and procedures, high installation cost, development of substitute devices are another factors that hinder this market.
- North America has the largest share in the market because of increased diseases like COPD, emphysema, bronchitis, and other respiratory diseases also increase in technology and geriatric population is also the driver for market growth in this region. Europe also has a significant growth in this market because of the increase in technology, increase in population, increase in smoking, increase in healthcare expenditure, and increase in awareness about the market. Asia-pacific is the fastest growing market due to the increase in expenditure in the healthcare system, large population, advancement in technology in this region, and a high potential for growth in this region.
Medtronic partnered with Foxconn to Increase Ventilator production to fight COVID-19 on June 18, 2020. This partnership has doubled the production of ventilators that are required to fight respiratory illnesses such as COVID-19, asthma, etc.
Key Benefits of the Report
- This study presents the analytical depiction of the oxygen conservers market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the oxygen conservers' market share.
- The current market is quantitatively analyzed to highlight the oxygen conservers market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed oxygen conservers market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Oxygen Conservers Report
- Who are the leading players active in the oxygen conservers market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are "oxygen conservers"?
- What is "oxygen conservers" market prediction in the future?
Oxygen Conservers Market Report Highlights
By End User
Key Market Players
Kröber Medizintechnik GmbH, Precision Medical, Inc, Medline Industries, Inc, Digital Pharmacist Inc, The Inovo Group, LLC, Essex Industries, Inc, GCE Group, Sunset Healthcare Solutions Inc., Inogen Inc, HERSILL, S.L, Drive DeVilbiss Healthcare