India Oxygen Conservers Market to Grow with a CAGR of 2.07% through 2029
Growth in research and development activities is expected to drive the India
Oxygen Conservers Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “India Oxygen
Conservers Market- By Region, Competition, Forecast and Opportunities,
2019-2029F”, the India Oxygen Conservers Market stood at USD 39.05 million in 2023
and is anticipated to grow with a CAGR of 2.07% in the forecast period through 2029.
Initiatives taken by government based on oxygen conservers has led to favorable
market conditions for the India Oxygen Conservers Market. Several factors
contribute to the growth of various oxygen conservers products.
The Indian government launched 'Project O2 for India'
with the aim of significantly increasing the supply of crucial medical oxygen
throughout the nation. In order to achieve this, a 'National Consortium of Oxygen'
was established under the project. This consortium plays a vital role in
facilitating the availability of critical raw materials like zeolites, which
are essential for the production of medical oxygen. Additionally, the project
also focuses on the establishment of small oxygen plants, ensuring a
decentralized supply chain that can cater to the diverse healthcare needs of
different regions.
Through strategic collaborations with international
partners, such as UNICEF, the Indian government has been able to further
strengthen its efforts in addressing the oxygen crisis. These collaborations
have resulted in the installation of oxygen plants in various hospitals across
the country, enabling them to produce oxygen on-site. Furthermore, the
government has also facilitated the delivery of oxygen concentrators and other
essential medical supplies to hospitals in need, ensuring that critical
healthcare facilities have the necessary resources to provide adequate care to
patients.
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Technological advancements have emerged as a key
driver of the Oxygen Conservers Market. Extensive research and development
activities have paved the way for the creation of innovative disposable oxygen
conservers, presenting remarkable growth opportunities in the market. These
cutting-edge devices not only exhibit enhanced efficiency but also boast
user-friendly features, thereby significantly increasing their appeal to consumers.
The advent of digital technology in
oxygen conservers has brought about a revolution in the market. Digital
conservers, with their precision in delivering the required amount of oxygen,
have proven to be a game-changer, leading to improved patient outcomes and
overall operational efficiency. This technological leap has transformed the way
oxygen is administered, ensuring optimal treatment and empowering healthcare
professionals to provide better care to their patients.
The integration of digital technology has not only
enhanced the accuracy and effectiveness of oxygen conservers but has also
opened up new avenues for connectivity and data management. With the ability to
collect and analyze data, healthcare providers can gain valuable insights into
patient usage patterns, optimize oxygen therapy, and make data-driven decisions
to improve patient care.
The India Oxygen Conservers Market is segmented into type,
sales channel, source, regional distribution, and company.
Based on its type, the manual segment held the largest
market share in the forecast period. Manual oxygen conservers are highly
regarded for their exceptional reliability. Unlike battery-dependent
alternatives, these devices operate without the risk of power failure. With a
simplified design and fewer mechanical components, they ensure consistent
performance and minimal chances of malfunction. Moreover, these conservers
offer efficient oxygen delivery, providing an impressive up to 6:1 savings rate
that optimizes oxygen usage and enhances the overall user experience.
Based on region, West India segment is expected to
grow during the forecast period.
In West India, the prevalence of chronic diseases such
as Chronic Obstructive Pulmonary Disease (COPD) and other respiratory illnesses
is significantly high. These conditions often require the use of oxygen
conservers, which play a vital role in managing patients' health and
well-being. As a result, the region has a substantial market share in the
healthcare industry.
The ongoing COVID-19 pandemic has further
emphasized the critical need for medical oxygen and related devices. With West
India being one of the hardest-hit regions, there has been an unprecedented
surge in the demand for oxygen conservers. This surge highlights the crucial
role these devices play in supporting patients' respiratory needs and
facilitating their recovery.
Major companies operating in India Oxygen Conservers
Market are:
·
GCE India Private Limited
·
Drive DeVilbiss Healthcare
·
Precision Medical
·
Al-Can Exports Private Limited
·
CR EXIM
·
Chad Therapeutics
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“There is an increasing momentum towards raising public
awareness regarding the importance of preserving oxygen, with a particular
emphasis on its critical role in healthcare and environmental sustainability.
Numerous campaigns and initiatives have been launched to advocate for the
adoption of oxygen conservation practices, targeting both individual consumers
and institutional entities. These efforts seek to underscore the imperative of
utilizing oxygen-saving solutions across diverse sectors, thereby fostering a
culture of responsible resource management and contributing to overall societal
well-being.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“India
Oxygen Conservers Market By Type (Manual, Electronic), By Sales Channel
(Wholesalers/Distributors/Suppliers, Online, Direct Sales), By Source (Import,
Domestic), By Region, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated
the future growth potential of India Oxygen Conservers Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Oxygen Conservers Market.
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