Global Recreational Oxygen Equipment Market, By Product Type (Oxygen Concentrator, Oxygen Bar, and Others), Application (Medical, Athletes/Sport, and Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
There is a huge demand and supply of ventilators in the hospitals and other such healthcare providing institutions. Ventilators are generally used for patients who are unable to breathe on their own owing to the damage to lungs, liver and other vital organs that are important for the circulation of fresh oxygen in the blood. Recreational oxygen equipment is one such healthcare product that is available in the market. Recreational oxygen equipment is readily approved by the U.S. Food and Drug Administration.
- Data Bridge Market Research analyses that the recreational oxygen equipment market is expected to undergo a CAGR of 16.90% during the forecast period. “Medical” accounts for the largest application segment in the recreational oxygen equipment market owing to the increasing prevalence of cardiovascular disorders and growing demand for oxygen therapies in home healthcare systems.
Market Definition
The role of recreational oxygen equipment is to separate the concentration of oxygen from nitrogen in the air. This in turn results in providing purified oxygen to the patient in need. Also known as canned oxygen, recreational oxygen is considered to improve the performance of an athlete. Recreational oxygen helps to improve the athletic performance by improving natural endurance and speeding up muscle recovery. The recreational oxygen equipment are easily portable and therefore, support a movable lifestyle.
Recreational Oxygen Equipment Market Dynamics
Drivers
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The rise in the prevalence of disorders
Surging prevalence of respiratory disorders, cardiovascular disorders and obesity hypoventilation syndrome (OHS) are responsible for fostering growth in the demand for recreational oxygen equipment. A person suffering from any of these disorders, irrespective of the age, is highly vulnerable and can need medical assistance any time. This will create a great scope of growth for the market.
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Rising geriatric population base
Old age population is susceptible towards developing respiratory diseases such as asthma. In the older years, the efficiency of respiratory and cardiovascular system decreases which make it difficult to breathe. This will therefore, create a huge scope of growth for the market.
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Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the demand for recreational oxygen equipment. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities.
Additionally, surge in the personal disposable income level, rising awareness about the several advantages of recreational oxygen equipment and increasing investment for the development of advanced and innovative technology, positively affect the recreational oxygen equipment market.
Opportunities
Furthermore, increasing focus of major manufacturers on integration and installation of advanced and modern technologies and growing level of air pollution globally will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising number of road accidents, high demand for pure oxygen (O2) among patients and increasing innovation in homecare settings will further expand the recreational oxygen equipment market's growth rate in the future.
Restraints/Challenges
On the other hand, high cost associated with the research and development proficiencies, lack of awareness among the people in the underdeveloped economies regarding benefits, limited infrastructural facilities and high expenditure required for research and developmental activities are expected to obstruct market growth. Also, high cost of acquisition is projected to challenge the recreational oxygen equipment market in the forecast period of 2022-2029.
This recreational oxygen equipment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the recreational oxygen equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Recreational Oxygen Equipment Market
COVID-19 has a positive impact on the recreational oxygen equipment market growth rate. There was a dramatically rise in the demand for oxygen cylinders all around the world. Growing provision of emergency medical services further ensured increasing penetration of recreational oxygen equipment. Rising number of healthcare facilities and healthcare providing institutions globally propelled growth in the demand for recreational oxygen equipment. Further, the future of the market seems to b bright as the world is still stuck in the roots of this pandemic.
Recent Development
- Oxygen Plus introduced a number of oxygen-based recreational products in July 2019such as O+Biggi, which has a capacity of delivering 220 breaths and 7 liters of pure oxygen.
Global Recreational Oxygen Equipment Market Scope
The recreational oxygen equipment market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Oxygen Concentrator
- Oxygen Bar
- Others
On the basis of product type, the recreational oxygen equipment market is segmented into oxygen concentrator, oxygen bar, and others.
Application
- Medical
- Athletes/Sport
- Others
The recreational oxygen equipment market has also been segmented on the basis of application into medical, athletes/sport, and others.
Recreational Oxygen Equipment Market Regional Analysis/Insights
The recreational oxygen equipment market is analysed and market size insights and trends are provided by country, product type and application as referenced above.
The countries covered in the recreational oxygen equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the recreational oxygen equipment market because of the strong base of healthcare facilities and increase in demand for recreational oxygen to be used at bars and spas.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, ever-rising geriatric population base, rising demand for portable concentrators and cans and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The recreational oxygen equipment market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for recreational oxygen equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the recreational oxygen equipment market. The data is available for historic period 2010-2020.
Competitive Landscape and Recreational Oxygen Equipment Market Share Analysis
The recreational oxygen equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to recreational oxygen equipment market.
Some of the major players operating in the recreational oxygen equipment market are Koninklijke Philips N.V., Invacare Corporation, Nidek Medical Products, Inc., Inogen, Inc., Messe Düsseldorf GmbH, ResMed, DeVilbiss Healthcare LLC, Airgas Inc, Messer Group GmbH, OrientMEd International, TECNO-GAZ SpA, Allied Healthcare Products Inc, Praxair Inc., ROYAX, AirGenics Inc, Air Products Inc, Luxfer Gas Cylinders, Cramer Decker Medical, Catalina Cylinders and Bright Medi- Weld Appliances among others.
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