Recreational Oxygen Equipment is Estimated to Witness High Growth...

Recreational Oxygen Equipment is Estimated to Witness High Growth Owing to Opportunity for Improved Exercise and Performance

Veröffentlicht 2023-12-21 12:52:59

Recreational oxygen equipment includes oxygen concentrators, oxygen cylinders and oxygen bar equipment that are used for recreational activities such as hiking, sports and to improve exercise performance. The equipment delivers enhanced levels of oxygen to boost energy, endurance and alertness of individuals involved in recreational activities. From professionally monitored oxygen bars to portable oxygen concentrators, various options are available to fulfill different recreational oxygen needs.

The global recreational oxygen equipment market is estimated to be valued at US$ 5.14 Bn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
With growing awareness about health benefits of supplemental oxygen, the market opportunity for recreational oxygen equipment is expected to grow substantially. Individuals are increasingly using oxygen therapy to improve exercise performance and boost athletic abilities. Recreational athletes seek enhanced oxygen delivery to gain competitive edge during training and competitions. Sports doctors and physiotherapists also recommend oxygen therapy for speedy recovery from injuries. This rise in uptake of oxygen therapy for recreational purposes is anticipated to generate lucrative opportunities for manufacturers of recreational oxygen equipment over the forecast period. Innovative portable devices with features catering to outdoor recreational activities will further aid the market growth.

Porter's Analysis
Threat of new entrants: Low capital requirements and established distribution channels lower barriers to entry. However, strong branding and customer loyalty to existing brands provide advantages for incumbents.

Bargaining power of buyers: Individual consumers have limited bargaining power due to availability of substitutable goods. However, large buyers like hospitals can negotiate on price and demand better services.

Bargaining power of suppliers: The market has multiple component and equipment suppliers with minimal differences. This provides buyers with negotiating power to seek better offers.

Threat of new substitutes: Technological developments can introduce novel substitutes like portable oxygen concentrators. Established players must continuously innovate to counter threats.

Competitive rivalry: The market has numerous regional and global players competing on price, quality, distribution and brand value. Players face pricing pressures to win market share.

SWOT Analysis
Strengths: Growing health awareness and rising disposable incomes drive demand. Established global distribution strengthens access.

Weaknesses: High equipment and maintenance costs restrict adoption. Portability and portability remain challenges.

Opportunities: Expanding into affordable rental models increases penetration. Leveraging e-commerce reaches new customers.

Threats: Regulations on oxygen use can affect sales. Supply chain disruptions impact production.

Key Takeaways
The Global Recreational Oxygen Equipment Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is estimated to reach US$ 8.21 Bn by 2030 growing at a CAGR of 16%.

North America currently dominates due to growing health awareness and active lifestyle trends. However, Asia Pacific is poised to be the fastest growing market led by countries like China, India, and Japan where incomes are rising rapidly and views towards wellness therapies are evolving.

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. These companies offer a variety of oxygen concentrators, cylinders, and generating systems suited for gyms, spas, yoga studios, and homes. Leading players are focusing on product innovation, partnerships for marketing, and expanding into developing markets to drive future revenues.

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