RECREATIONAL OXYGEN EQUIPMENT MARKET ANALYSIS

The global recreational oxygen equipment market is estimated to be valued at US$ 5.14 billion in 2023 and is expected to exhibit a CAGR of 16.7% during the forecast period (2023-2030).

Analysts’ Views on Global Recreational Oxygen Equipment Market: 

Increase in the prevalence of respiratory diseases and increase in the demand of oxygen from hospitals is expected to drive the global recreational oxygen equipment market over the forecast period. For instance, in November 2020, a data was published by the the UNICEF, according to which, severe pneumonia leaves an estimated 4.2 million children under the age of five in 124 low- and middle-income countries with critically low oxygen levels each year.

Figure 1. Global Recreational Oxygen Equipment Market Share  (%), by Product Type, 2023

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Global Recreational Oxygen Equipment Market – Driver

Increase in inorganic strategies by key players

Increase in inorganic strategies such as partenership by the key market players is expected to drive the global recreational oxygen equipment market over the forecast period. For instance, in September 2021, Godrej and Boyce, an engineering and flagship company of the Godreej group announced that one of its businesses, Godrej Precision Engineering has received an order from the Defence Bio-engineering and Electromechanical Laboratory, (DEBEL), a Defence Research and Development Organisation (DRDO) laboratory in Bengaluru to manufacture oxygen generators to support India’s oxygen buffer plan.

Figure 2. Global Recreational Oxygen Equipment Market Value (US$ Billion), by Region, 2023

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Global Recreational Oxygen Equipment Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global recreational oxygen equipment market over the forecast period, due to an increase in demand for oxygen concentrator as increasing the number of COPD cases. For instance, according to the American Lung Association 2023, Chronic obstructive pulmonary disease (COPD) affects around 12.5 million people in North America.

Global Recreational Oxygen Equipment Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global recreational oxygen equipment market. For instance, in April 2020, AirSep Corporation, a division of CAIRE Inc., a oxygen supply manufacturer has seen a higher demand in oxygen generators globally particularly in Russia and the Ukraine.

Global Recreational Oxygen Equipment Market Segmentation:

The global recreational oxygen equipment market report is segmented into Product Type, Application, and Region

Based on Product Type, the market is segmented into oxygen concentrator, oxygen bars, and others. Out of which, the oxygen concentrator segment is expected to hold a dominant position in the recreartional oxygen market over the forecast period.

Based on Application, the recreational oxygen equipment market is segmented into medical, athletes/sport, others. Out of which the medical segment is expected to hold a dominant position in the recreational ocygen market over the forecast period.

Global Recreational Oxygen Equipment Market Cross Sectional Analysis:

In product type, the segment hold a dominant position in North America region due to the increasing demand by the athletes. For instance, in October 2020, OLL Medical Corporation, an Asahi Kasei company that manufactures medical devices and related software solutions, and CAIRE, Inc., a leading oxygen supply manufacturer, announced the signing of an exclusive distributor agreement. As part of this agreement, ZOLL has exclusive rights to distribute the SAROS 4000 Portable Oxygen Concentrator in all markets outside the U.S. in combination with ZOLL's EMV+ ventilator.

Global Recreational Oxygen Equipment Market: Key Developments

Increase in adoption of organic strategies such as product launch is expected to drive the global recreational oxygen equipment market over the forecast period. For instance, in May 2022, Arya BioMed Corp, released their first portable oxygen concentrator.

Global Recreational Oxygen Equipment Market: Key Trends

Increase in organic strategies such as distribution of facilities

Increase in organic strategies by the key market players is expected to drive the global recreational oxygen equipment market over the forecast period. For instance, in May 2021, Daikin Industries, Ltd., a multinational conglomerate company, announced its donation of 200 oxygen concentrators to India where the lack of medical oxygen due to the rapid increase of COVID-19 infections had become a critical issue.

Global Recreational Oxygen Equipment Market: Restraint

Product recalls for oxygen systems

The global recreational oxygen equipment market can be hindered by Product recalls for oxygen systems. For instance, in November 2022, U.S. Food and Drug Administration (FDA) recalled Class 2 device DeVilbiss iGo 2 portable oxygen concentrator.

Global Recreational Oxygen Equipment Market - Key Players

Major players operating in the global 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

Definition:  Recreational oxygen equipment such as oxygen concentrator separates oxygen from nitrogen in the air, and allows the person to receive purified oxygen. Recreational oxygen is also known as canned oxygen. Unlike medical oxygen systems, recreational oxygen Equipment does not require approval from the medical devices regulatory authorities such as U.S. Food and Drug Administration (FDA), European Medicines Agency  (EMA), and others. Recreational oxygen is considered as major component to enhance athletic performance. It also helps to improve natural endurance and speed up muscle recovery.