Market Overview:
Recreational oxygen equipment refers to devices that provide supplemental oxygen to users for recreational purposes, without any medical prescription or supervision. Key products in this market include oxygen cylinders, oxygen concentrators, and bar-style oxygen generators. Recreational oxygen use is gaining popularity among athletes, adventurers, and regular gym-goers who believe it can enhance physical and mental performance. Some people also use oxygen therapy for relaxation and glowing skin. The equipment is portable and can deliver oxygen on-the-go via nasal cannulas or masks.
Market Dynamics:
The growing adoption of recreational oxygen therapy is a major driver for market growth. Many see it as a healthy and natural alternative to caffeine or energy drinks for boosting stamina and endurance during workouts. Social media influencers have promoted the perceived benefits of using oxygen during or after exercise. Another key driver is the increasing popularity of oxygen bars in cities globally. At these bars, customers can experience different oxygen mixtures and concentrations for relaxation, anti-aging effects, and hangover relief. expanding urban middle class with more disposable incomes are fueling bar visits. However, the clinical effectiveness and safety of recreational oxygen use is still unclear and requires more research. Some studies indicate risks like fire hazards from improper use of concentrators or cylinders. Potential over-dependence on oxygen as a performance enhancer without addressing cardiovascular fitness issues is another concern. Regulators may impose tighter guidelines if adverse effects emerge.
Segment Analysis
The Global Recreational Oxygen Equipment Market is dominated by the oxygen concentrator sub-segment. Oxygen concentrators account for over 60% share of the overall market owing to rising prevalence of respiratory disorders. Oxygen concentrators are widely used for recreational purposes like hiking, camping etc. due to their portability and ease of use.
PEST Analysis
Political: The recreational oxygen equipment market is favoured by supportive government policies and regulations around the world for better access to oxygen equipment for medical as well as recreational purposes.
Economic: Rising disposable income and growing health awareness are driving higher consumer spending on recreational oxygen equipment for activities like hiking and camping.
Social: Changing lifestyles and increasing preference for outdoor recreational activities are creating demand for oxygen equipment for supplementary oxygen during such activities.
Technological: Advancements in portable oxygen concentrator technology have enhanced product functionality and ease of use, augmenting consumer demand. Continuous product innovations are further expanding market opportunities.
Key Takeaways
The global recreational oxygen equipment market is expected to witness high growth, exhibiting CAGR of 16% over the forecast period, due to increasing participation in outdoor recreational activities across regions. The North America region currently dominates the market accounting for over 40% share owing to dense presence of key players and early adoption of novel technologies.
By 2023, the market is projected to reach a valuation of US$ 5.14 Bn with the United States contributing close to 70% share in the regional market. Rising consumer health awareness and growing cases of respiratory disorders are anticipated to propel demand in the coming years.
Key players operating in the recreational oxygen equipment market are 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. Technological advancements focused on product portability and performance are core strategies adopted by leading market players.
Read More; https://www.rapidwebwire.com/recreational-oxygen-equipment-market/
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