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India Oxygen Conservers Market, By Region, Competition, Forecast & Opportunities, 2019-2029F

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  • 83 Pages
  • April 2024
  • Region: India
  • TechSci Research
  • ID: 5956437
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India Oxygen Conservers Market was valued at USD 39.05 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 2.07% through 2029. The India Oxygen Conservers Market is currently experiencing a significant period of growth, largely driven by the surge in demand for oxygen concentrators amid the ongoing COVID-19 pandemic. The need for these devices has escalated as they play a crucial role in providing life-saving oxygen therapy to patients.

One of the notable emerging trends in the market is the increasing popularity of portable oxygen concentrators. These compact and lightweight units have gained traction due to their convenience, affordability, and the ability to ensure a continuous supply of oxygen to individuals in need. With the flexibility to be used both indoors and outdoors, portable oxygen concentrators have become a preferred choice for patients seeking mobility and independence in their daily lives.

Amidst this promising growth, the market also faces several challenges. One of the pressing issues is the emergence of a thriving black market for oxygen concentrators. Shockingly, the prices of medical-grade oxygen cylinders on the black market have soared to levels exceeding the average monthly income of even the wealthiest individuals in India. This has created difficulties in accessing these life-saving devices, particularly for patients belonging to low-income groups, who often find themselves unable to afford the exorbitant prices.

Key Market Drivers

Growing Prevalence of Respiratory Disorders

Respiratory disorders, such as asthma, Chronic Obstructive Pulmonary Disease (COPD), rhinosinusitis, and others, impose a significant health burden on India. According to a recent study, the point prevalence of respiratory diseases in Indian Outpatient Department (OPD) services is considerable, highlighting the need for effective management and treatment strategies.

The global prevalence of chronic respiratory diseases has been on the rise, leading to an increased demand for efficient respiratory care devices. This trend is particularly pronounced in India, given its large population and the escalating incidence of risk factors such as pollution, smoking, and an aging population.

The surge in respiratory disorders has directly impacted the growth of the Oxygen Conservers Market. Oxygen conservation devices play a crucial role in enhancing the quality of life for patients with severe respiratory conditions by maintaining optimal oxygen levels in their blood. As research and development activities continue to evolve, we can expect the emergence of improved oxygen conserving devices that offer enhanced functionality and user experience.

The growing prevalence of respiratory diseases, combined with advancements in oxygen conserving technology, is expected to drive sustained market growth. Moreover, the increasing geriatric population, known to be more susceptible to respiratory ailments, contributes to the expanding demand for oxygen conserving devices. As the elderly population continues to grow, the need for these devices is likely to rise further, underscoring the importance of innovative solutions in respiratory care.

Rise in Healthcare Expenditure

Non-communicable diseases like diabetes are on the rise in India, which has resulted in a significant increase in healthcare spending. Recognizing the urgency of the situation, India has taken robust steps to enhance its healthcare services. One noteworthy measure includes a substantial boost in healthcare spending by 135%, demonstrating the government's commitment to addressing the healthcare needs of its population. Furthermore, India has also lifted caps on foreign investment in its vast insurance Market, opening doors for collaboration and innovation in the healthcare sector.

With the increased healthcare spending, there comes a greater demand for medical devices, particularly oxygen conservers. These devices play a crucial role in supporting patients with severe respiratory conditions by helping maintain adequate oxygen levels in their blood. As the prevalence of such conditions rises, the need for reliable and efficient oxygen conserving devices becomes more evident.

India boasts strong medical device supply chains, which are driving the growth of the oxygen conserving devices market. The combination of rising healthcare expenditure and well-established procurement channels makes the accessibility and usage of these life-saving devices more feasible. Consequently, this creates opportunities for market expansion and the continuous improvement of healthcare services in India.

Key Market Challenges

Disruptions in Supply Chain

The COVID-19 pandemic has caused an unprecedented surge in demand for medical oxygen. Hospitals and healthcare facilities across India have been grappling with the overwhelming need for oxygen as the number of COVID-19 cases continues to rise. This sudden onslaught has put immense pressure on India's oxygen supply chain, leading to numerous challenges.

The increased demand for medical oxygen has resulted in a nationwide panic, as the disruption of supplies has left hospitals and patients in dire situations. The shortage of oxygen cylinders and concentrators has created a sense of urgency to address the supply chain issues promptly.

The recent spike in COVID-19 cases has further exacerbated the challenges faced by the oxygen supply chain in India. The sudden surge in demand has overwhelmed the logistics capabilities, leading to delays in the transportation and distribution of oxygen. This disruption has highlighted the vulnerabilities of the supply chain and the need for immediate action.

The supply chain disruptions have also impacted the delivery of oxygen conserving devices to the end-users, hindering the overall market growth. The uncertainties and bottlenecks in the supply chain have not only affected the availability of oxygen but have also resulted in increased costs. This added financial burden has further strained the market and posed challenges for healthcare providers and patients alike.

Addressing the challenges faced by India's oxygen supply chain requires a comprehensive and coordinated approach. Efforts are underway to ramp up production, streamline logistics, and ensure the timely delivery of medical oxygen to those in need. It is crucial to learn from the current crisis and strengthen the supply chain to be better prepared for future emergencies.

Key Market Trends

Rise in Geriatric Population

India is experiencing a steady increase in its elderly population. This demographic shift is largely attributed to improved healthcare services, leading to increased life expectancy. As a result, the geriatric population faces unique health challenges, including respiratory illnesses, which require substantial medical attention and resources.

The rising geriatric population has created a surge in demand for oxygen conservers, contributing to the growth of the market. Elderly individuals are particularly vulnerable to respiratory ailments and chronic diseases, necessitating the use of oxygen conserving devices to ensure proper oxygen supply.

With the growing geriatric population and their increasing healthcare needs, the Oxygen Conservers Market in India is poised for robust expansion. The continuous supply of oxygen becomes a critical factor in meeting the needs of the ageing population.

Not only does India witness this trend, but the global electronic oxygen conservers market also showcases several emerging trends. Technological advancements and product innovation are driving forces that further boost the market. Additionally, the increasing prevalence of respiratory diseases and the growing geriatric population contribute to the sustained demand for oxygen therapy devices.

As the healthcare landscape evolves, the electronic oxygen conservers market continues to adapt and meet the needs of a changing demographic. With a focus on improving respiratory health and addressing the unique challenges faced by the geriatric population, this market is poised for significant growth and innovation.

Segmental Insights

Type Insights

Based on the category of type, the manual segment emerged as the dominant player in the Indian market for oxygen conservers in 2023. One of the primary reasons for the dominance of manual oxygen conservers in the Indian market is their accessibility and ease of use. These devices, such as the Drive DeVilbiss Bonsai Velocity Pneumatic Oxygen Conserver and the EasyPulse5 Oxygen Conserving Regulator, have gained popularity due to their user-friendly design and intuitive features. With their single dial controls and straightforward operation, they are particularly well-suited for the elderly population, who commonly rely on these devices for their respiratory needs.

In addition to their ease of use, manual oxygen conservers also offer a cost-effective solution for patients in India. Compared to their electronic counterparts, they are typically more affordable, which is a significant factor in the healthcare decision-making process in the country. This affordability factor allows more individuals to access and benefit from these devices, ensuring that respiratory care remains accessible to a wider population.

Despite their affordability, manual oxygen conservers do not compromise on quality. They are designed with precision and reliability, ensuring optimal oxygen delivery for patients. This combination of accessibility, ease of use, and cost-effectiveness has contributed to the widespread adoption of manual oxygen conservers in India's healthcare landscape, making them a preferred choice for both patients and healthcare providers alike.

Sales Channel Insights

The online segment is projected to experience rapid growth during the forecast period. There is a growing consumer awareness about the availability and benefits of oxygen conservers in India. This awareness is largely driven by online platforms, which provide vast amounts of information on these devices, their uses, and benefits. Consumers are becoming more educated about their health and are actively seeking out solutions online.

With the rise of online healthcare resources and the increasing accessibility of information, consumers now have the opportunity to delve deeper into the world of oxygen conservers. They can explore the intricacies of these devices, understand their functionality, and learn about the best practices for incorporating them into their daily lives. This newfound knowledge empowers consumers to make more informed decisions about their health and well-being.

Technological advancements in electronic oxygen conservers are opening up new possibilities and driving market growth. These advancements are often first introduced online, allowing consumers to stay updated with the latest developments in the market. Moreover, online platforms enable consumers to compare different products, read reviews, and make informed purchasing decisions.

The world of electronic oxygen conservers is constantly evolving, driven by cutting-edge technological breakthroughs. From innovative features that enhance convenience and portability to advanced algorithms that optimize oxygen delivery, these advancements are revolutionizing the industry. The online landscape serves as a hub of information, where consumers can explore the latest models, compare the features of different devices, and read firsthand experiences shared by others. This wealth of information empowers consumers to make well-informed purchasing decisions and choose the oxygen conservers that best suit their needs and preferences.

Regional Insights

West India emerged as the dominant player in the India Oxygen Conservers Market in 2023, holding the largest market share in terms of both value and volume. West India, with its robust industrial growth and thriving healthcare sector, plays a pivotal role in the Oxygen Conservers Market. States like Maharashtra and Gujarat are not only home to numerous manufacturing units of medical devices, including oxygen conservers, but also boast a highly skilled workforce and cutting-edge technology infrastructure. This combination of factors contributes to the region's dominance in the Market, as it ensures high-quality production and efficient distribution of oxygen conservers.

In addition to its industrial significance, West India is one of the most densely populated regions in the country, with a diverse and vibrant population. The high population density translates to a higher demand for medical devices, including oxygen conservers, as the region caters to the healthcare needs of millions of residents. Moreover, the presence of well-established urban areas in West India, such as Mumbai and Pune, further drives the demand for oxygen conservers. These cities are home to a significant elderly population who may require oxygen therapy, making the need for reliable and efficient oxygen conservers even more crucial.

The government initiatives to promote manufacturing in West India have also played a significant role in the region's prominence in the Oxygen Conservers Market. These initiatives aim to foster innovation, attract investments, and create a favorable business environment for medical device manufacturers. As a result, West India has witnessed a surge in the establishment of state-of-the-art manufacturing facilities, further bolstering its position as a leader in the market.

Report Scope:

In this report, the India Oxygen Conservers Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Oxygen Conservers Market, By Type:

  • Manual
  • Electronic

India Oxygen Conservers Market, By Sales Channel:

  • Wholesalers/Distributors/Suppliers
  • Online
  • Direct Sales

India Oxygen Conservers Market, By Source:

  • Import
  • Domestic

India Oxygen Conservers Market, By Region:

  • North India
  • East India
  • West India
  • South India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Oxygen Conservers Market.

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India Oxygen Conservers Market report with the given market data, the publisher offers customizations according to a company's specific needs.

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation Validation
2.7. Assumptions and Limitations
3. Impact of COVID-19 on India Oxygen Conservers Market
4. Executive Summary
4.1. Overview of the Market
4.2. Overview of Key Market Segmentations
4.3. Overview of Key Market Players
4.4. Overview of Key Regions/Countries
4.5. Overview of Market Drivers, Challenges, and Trends
5. India Oxygen Conservers Market Outlook
5.1. Market Size Forecast
5.1.1. By Value Volume
5.2. Market Share Forecast
5.2.1. By Type (Manual, Electronic)
5.2.2. By Sales Channel (Wholesalers/Distributors/Suppliers, Online, Direct Sales)
5.2.3. By Source (Import, Domestic)
5.2.4. By Region (North, South, East, West)
5.2.5. By Company (2023)
5.3. Market Map
6. South India Oxygen Conservers Market Outlook
6.1. Market Size Forecast
6.1.1. By Value Volume
6.2. Market Share Forecast
6.2.1. By Type
6.2.2. By Sales Channel
6.2.3. By Source
6.2.4. By States (Top 3 States)
7. West India Oxygen Conservers Market Outlook
7.1. Market Size Forecast
7.1.1. By Value Volume
7.2. Market Share Forecast
7.2.1. By Type
7.2.2. By Sales Channel
7.2.3. By Source
7.2.4. By States (Top 3 States)
8. North India Oxygen Conservers Market Outlook
8.1. Market Size Forecast
8.1.1. By Value Volume
8.2. Market Share Forecast
8.2.1. By Type
8.2.2. By Sales Channel
8.2.3. By Source
8.2.4. By States (Top 3 States)
9. East India Oxygen Conservers Market Outlook
9.1. Market Size Forecast
9.1.1. By Value Volume
9.2. Market Share Forecast
9.2.1. By Type
9.2.2. By Sales Channel
9.2.3. By Source
9.2.4. By States (Top 3 States)
10. Top Selling Oxygen Conservers Models11. India Oxygen Conservers Market12. Oxygen Conservers Rental Overview
13. Market Dynamics
13.1. Drivers
13.2. Challenges
14. Market Trends Developments
14.1. Merger Acquisition (If Any)
14.2. Product Launches (If Any)
14.3. Recent Developments
15. India Economic Profile
16. Competitive Landscape
16.1. GCE India Private Limited
16.1.1. Business Overview
16.1.2. Company Snapshot
16.1.3. Products Services
16.1.4. Financials (As Reported)
16.1.5. Recent Developments
16.1.6. Key Personnel Details
16.1.7. SWOT Analysis
16.2. Drive DeVilbiss Healthcare
16.3. Precision Medical
16.4. Al-Can Exports Private Limited
16.5. CR EXIM
16.6. Chad Therapeutics
17. Strategic Recommendations18. About the Publisher Disclaimer

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • GCE India Private Limited
  • Drive DeVilbiss Healthcare
  • Precision Medical
  • Al-Can Exports Private Limited
  • Chad Therapeutics

Table Information