The global recreational oxygen equipment market size is expected to reach USD 299.8 million by 2026, according to a new report by Grand View Research, Inc., registering a CAGR of 16.2% over the forecast period. High prevalence of unhealthy lifestyle among a large section of the global population has increased the risk of respiratory disorders such as chronic obstructive pulmonary disease (COPD). This is a major factor driving the need for recreational oxygen equipment. In addition, a growing geriatric population, who is prone to numerous health disorders requiring supplemental oxygen, is expected to boost the market.
Recently, a rise in the awareness regarding the benefits of consumer oxygen among people has given a boost to the demands of the product in the market. Consumer oxygen efficiently treats dementia and muscle recovery. Increase in awareness levels pertinent to the benefits of consumer O2 in the treatment of Obesity Hypoventilation Syndrome (OHS), COPD, dementia, and stress are projected to drive demand in the coming years. Furthermore, recreational oxygen is also helpful during strenuous physical activities such as mountain climbing, where the altitude makes it difficult to breathe normally. Apart from this, these products have also been utilized in other recreational sports like skiing, hiking, biking, snowboarding, or floating at altitude. Owing to increasing popularity of these sports, demand for portable O2 devices for recreational use is on the rise.
Recreational Oxygen Equipment Market Report Highlights
• Mergers & Acquisitions are always forayed into by major players to boost their popularity and acquire greater market reach. For instance, in august 2019, Inogen Inc. completed its planned acquisition of privately held New Aera Inc., a manufacturer of portable noninvasive ventilators, for about $70.4 million
• Market players are going with new innovative product launches as the market expansion strategy. For instance, in July 2019, Oxygen Plus launches new and improved O+ Biggi Wellness product
• COVID-19 pandemic has boosted the demands in the market leading to better growth. For example, in May 2020, Oxygen Plus (O+) stated that, it experienced a large increase in consumer demand due to the fear surrounding the still mysterious Coronavirus (SARS-Cov-2) pandemic
• On the basis of products, portable oxygen concentrators accounted for the largest revenue share by product in 2018. Manufacturers have been focusing on manufacturing compact, stylish portable oxygen concentrators to cater to changing consumer demands. This segment is also expected to exhibit the fastest growth over the forecast period
• On the basis of applications, the athletics segment is expected to witness lucrative growth in the coming years. Professional athletes have been increasingly adopting this equipment owing to availability of portable and user-friendly products
• New product launches have been the focus of manufacturers in the market. Key industry participants include Oxygen Plus, Inc.; Boost Oxygen, LLC; Koninklijke Philips N.V.; Chart Industries; and Inogen.
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Recreational Oxygen Equipment Market Segmentation
Grand View Research has segmented the global recreational oxygen equipment market on the basis of the product, application, and region:
Recreational Oxygen Equipment Product Outlook (Revenue, USD Million, 2014 – 2026)
• Bar Equipment
Recreational Oxygen Equipment Application Outlook (Revenue, USD Million, 2014 – 2026)
Recreational Oxygen Equipment Regional Outlook (Revenue, USD Million, 2014 – 2026)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
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About Grand View Research
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