Oxygen Conserving Devices Market to Witness Exponential Growth by 2027
Oxygen Conserving Devices Market Introduction
An oxygen conserving device (OCD) regulates the flow of oxygen from the source of the oxygen to the patient. Oxygen conserving devices include demand oxygen delivery systems, reservoir cannulas, and transtracheal catheters. The oxygen conserving devices are designed to correct hypoxemia with a minimal flow of oxygen and increase the extent of time an oxygen tank would last. This provides patients increased mobility and comfort from avoiding a continuous flow of oxygen into the nostrils. The oxygen conserving devices make oxygen therapy more portable, more efficient, and less intrusive. An oxygen conserving device makes oxygen supply last longer. Oxygen conserving devices are mainly of two types: electronic oxygen conservation devices and pneumatic oxygen conservation devices.
Oxygen Conserving Devices Market: Competitive Landscape
Invacare Corporation
Founded in 1885, Invacare Corporation is based in Ohio, U.S. It is the global leader in the manufacture and distribution of innovative home and long-term care medical products that promote recovery and an active lifestyle for people with physical disabilities. The company focuses on products and services that help people move, breathe, and rest. The company markets its products in 80 countries around the globe.
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Drive DeVilbiss Healthcare
Established in 2000, Drive DeVilbiss Healthcare is located in Washington, U.S. It is one of the leading players in durable medical equipment. The company has global presence with various product lines. It manufactures and distributes products globally in categories such as respiratory, mobility, long term care, bathroom safety, sleep, beds, therapeutic support surfaces, patient room, and personal care products. Drive DeVilbiss Healthcare has global reach and operates in North America, Europe, Central America, South America, Asia, and the Middle East.
Medline Industries, Inc.
Founded in 1910, Medline Industries, Inc. is located in Illinois, U.S. It a privately held company that manufactures and distributes products for the health care industry. The company provides supply chain solutions and services including cost management programs, logistics consulting, utilization and standardization programs, clinical support, and e-commerce solutions. It also provides products for wound care, continence care, skin health, and infection prevention. The company offers supplies such as gloves and furnishings for labs, diagnostic labs, and operating rooms.
Oxygen Conserving Devices Market Dynamics
Rise in Lung Diseases and Large Patient Pool of Chronic Obstructive Pulmonary Diseases (COPD)
Increase in prevalence and incidences of lung diseases and chronic obstructive pulmonary diseases is expected to drive the demand for oxygen conserving devices. According to the World Health Organization (WHO), there were about 251 million cases of chronic obstructive pulmonary disease in 2016 worldwide. Additionally, globally, it was estimated that 3.17 million deaths occurred due to chronic obstructive pulmonary disease in 2015, i.e. around 5% of all deaths around the world in that year. Around 90% of chronic obstructive pulmonary disease deaths occur in low and middle-income countries.
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Key Players Focus on Organic and Inorganic Growth Strategies
Some of the key players in the global oxygen conserving devices market are involved in various new product developments, mergers & acquisitions, expansion strategies, and collaborations & partnerships to expand and improve their market presence. For instance, in September 2017, Sogo Sangyo Kabushiki Kaisha (SSKK) was acquired by Air Liquide. Sogo Sangyo Kabushiki Kaisha (SSKK) is a big Japanese player with a strong presence in the medical gases and home healthcare markets. With this acquisition Air Liquide strengthens its presence in Japan, both in home healthcare business and in the medical gases to hospitals.
Oxygen Conserving Devices Market: Segmentation
The global oxygen conserving devices market can be segmented on the basis of:
- Product
- End-user
- Region
Oxygen Conserving Devices Market Segmentation – By Product Type
Depending on product type, the global oxygen conserving devices market can be divided into:
- Reservoir Oxygen Delivery Devices
- Electromechanical Pulsing Devices
- Transtracheal Catheters
- Others
Oxygen Conserving Devices Market Segmentation – By End-user
On the basis of end-user, the global oxygen conserving devices market can be classified into:
- Hospitals
- Clinics
- Long-term Care Units
- Home Care Settings