The global recreational oxygen equipment market is expected to grow at a CAGR of around 16.3% from 2019 to 2026 and reach the market value of around 307 Mn by 2026.
Recreational Oxygen is also termed as consumer oxygen, which is used to enhance brain functioning and also to improve athletic endurance. Recreational oxygen can’t be replaced with the medical oxygen as medical oxygen is used for treatment purposes and is controlled by the FDA as a therapy. Along with this, equipment used for the delivery of recreational oxygen is called recreational oxygen equipment.
Moreover, recreational equipment includes concentrators and bar equipment among others. Oxygen concentrator does not create oxygen, whereas it separates oxygen from nitrogen and other gases which are present in the surrounding by a method called Pressure Swing Adsorption (PSA). Additionally, it doesn’t change the oxygen percentage in the surrounding instead it separates oxygen at the top of the machine and deposit nitrogen at the bottom, and delivers oxygen to the consumer from the top of the machine. The oxygen bar equipment is mostly used in festivals, tradeshows, corporate party, spa or shopping mall. These can provide 88 to 90% purified oxygen and can hook plastic nose hose to breathe.
In terms of application, the global market is segmented into athletics/sports and medical among others. Athletic or sports recreational oxygen equipment are designed for the use of individuals, who are particularly involved in physical activities including football, hockey, basketball, hiking, biking or snowboarding. The recreational oxygen provides them an instant boost for efficient results with convenient handling. Along with this, recreational oxygen is used in medical purposes for the treatment of the patients when prescribed by the doctor. Additionally, it is almost filtered to 99% purity and stored in cylinders which are specifically authorized for the medical uses.
The rapidly increasing pollution across the globe due to various human activities is primarily driving the demand for recreational oxygen equipment. The increasing carbon footprints due to the abundant use of fuel-based vehicles across the globe are boosting the demand in the market. The benefits associated with the recreational oxygen equipment such as fast recovery from stress and improved stamina along with instant energy boost when required is further pushing the demand among professionals like actors and sports personality. In addition to this, high prevalence of Obesity Hypoventilation Syndrome (OHS) and respiratory diseases coupled with unhealthy lifestyle is also expected to create positive demand over the forecast period. Furthermore, the growing geriatric population is driving the demand for home-based oxygen therapy is likely to boost demand during the forecast period. Apart from these, the technological advancements associated with the equipment of recreational oxygen is further stimulating the growth of the segment.
However, high cost associated with the recreational oxygen equipment coupled with the lack of awareness in emerging economies across the globe about the health benefits of oxygen equipment is likely to hinder the growth over the forecast period. Whereas, the rising adoption of unhealthy habits in daily lifestyles such as smoking is expected to create potential opportunity for major manufacturers over the forecast period.
In terms of product, concentrators dominated the segment in the year 2018. The segment is growing owing to the advantage associated with the concentrator, that it eliminates the risk of catching fire. Along with this, the increasing involvement of people into activities, where the oxygen level is low such as high altitudes hiking and mountain climbing is also contributing to the market value. Medical use of recreational oxygen equipment is leading the application segment owing to rising prevalence of respiratory diseases such as COPD (chronic obstructive pulmonary disease), pulmonary fibrosis, pneumonia, a severe asthma attack, cystic fibrosis, and sleep apnea. Increasing the focus of manufacturers for the development of cost-effective products is further favoring the segment growth.
The market research study on “Recreational Oxygen Equipment Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight on the global recreational oxygen equipment market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global recreational oxygen equipment market, its product, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global recreational oxygen equipment market size and volume, and segment markets by product, application, and geography along with the information on companies operating in the market.
The global recreational oxygen equipment market is studied across the regions including North America, Europe, Asia Pacific and Middle East and Africa. North America dominated the regional segment and the region is also expected to maintain its dominance during the forecast period. The region is primarily gaining positive growth owing to well-established healthcare infrastructure in developed economies of the region coupled with the increased spending in the healthcare industry by major players. The recreational oxygen equipment market of Asia Pacific is also anticipated to create potential demand over the forecast period owing to increasing disposable income high spending on healthcare products. Along with this, the key players are also investing in the healthcare industry in emerging economies of the region including China and India is expected to propel the demand over the forecast period. The ongoing R&D activities and government initiatives for improving the healthcare infrastructure are further expected to create potential demand over the forecast period.
Some of the key players of recreational oxygen equipment include Koninklijke Philips N.V., Oxygen Plus, Inc., 2nd Wind Oxygen Bars, Boost Oxygen, LLC. Chart Industries, Invacare, Vitality Medical, Inogen, KOL Commentary, Live O2 and Pure O2 Ltd. The major players are involved in R&D activities for the development of cutting edge products.
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The recreational oxygen is used to enhance brain functioning and also to improve athletic endurance.
Acumen Research And Consulting predicts theat the recreational oxygen equipment market value is anticipated to be worth around US$ 307 million in 2026.
The recreational oxygen equipment market is anticipated to grow over 16.3% CAGR during the forecast period 2019 to 2026.
The rapidly increasing pollution across the globe due to various human activities is main driver of the recreational oxygen equipment market.
In terms of product, concentrators dominated the segment in the year 2018.
North America held maximum share in 2018 for recreational oxygen equipment market.
The recreational oxygen equipment market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.