by The recreational oxygen equipment market is estimated to be valued at US$ 5.14 Bn in 2022 and is expected to exhibit a CAGR of 16.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Recreational oxygen equipment includes portable oxygen concentrators, oxygen cylinders, and oxygen bars that deliver oxygen to users for non-medical purposes such as sports performance enhancement, anti-aging therapy, and overall well-being. These equipment find increasing usage among gym-goers, marathon runners, and health enthusiasts.
Market Dynamics:
Growing participation in sports and fitness activities is a key driver for the recreational oxygen equipment market. There has been a substantial increase in marathon running, mountain biking, triathlons, and other endurance sports in recent years. Oxygen supplementation is found to boost sports performance by improving oxygen saturation levels and delaying muscle fatigue. Furthermore, rising health awareness among consumers is driving the adoption of oxygen therapy for anti-aging and overall wellness. Recreational oxygen is promoted to enhance skin health, boost energy levels, and improve sleep quality. Consumer education on health benefits of controlled oxygen therapy is also propelling the market growth.
Market Key Trends:
The global Recreational Oxygen Equipment Market has been growing steadily over the past few years. One of the key trends seen is the high popularity and adoption of portable oxygen concentrators. These devices are smaller, more convenient to carry, and provide oxygen therapy without being tied to bulky oxygen cylinders. They allow users to be more active and mobile. Along with this, there is a rising focus on enhancing the features of concentrators such as increasing their battery backup and making them lighter and more ergonomic.
SWOT Analysis
Strengths: Portable oxygen concentrators offer independence and flexibility to users. They provide high-purity oxygen without being tied to cylinders.
Weaknesses: The initial costs of these devices tend to be high. Their battery life is also limited.
Opportunities: Growing health and wellness trends are raising awareness about the importance of breathing fresh air. This will spur demand. The geriatric population is also expanding rapidly in developing nations.
Threats: Stringent regulations. Emergence of alternative therapy options. Intense competition.
Key Takeaways
The global recreational oxygen equipment market is expected to witness high growth, exhibiting CAGR of 16.7% over the forecast period 2023 to 2030, due to increasing health awareness and growing elderly population globally. The market size for 2022 was estimated to be US$ 5.14 Bn.
Regional analysis: North America dominates the market currently due to supportive healthcare infrastructure and policies. However, Asia Pacific is expected to grow the fastest owing to rising incomes, upgradation of healthcare facilities, and expanding customer base.
Key players operating in the recreational oxygen equipment market include Boost Oxygen, LLC, CAIRE Inc. (AirSep), Chart Industries, DeVilbiss Healthcare LLC, Inogen, Inc., Oxygen Plus, Inc., Pure O2 Ltd, Invacare Corporation, Oxyzens, Philips Healthcare, Zadro Health Solutions, and 2ND Wind Oxygen Bars. These players are focusing on new product launches, partnerships, and enhancing their distributor networks to strengthen their positions in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
