Global recreational oxygen equipment market, by Product Type (Oxygen Concentrator, Oxygen Bar, and Others), by Application (Medical, Athletes/Sport, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,832.3 million in 2019, and is expected to exhibit a CAGR of 16.7% during the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Increasing launches of technologies that support medical as well recreational oxygen equipment by increases their effectiveness are expected to drive the market growth. For instance, in February 2019, OxyGo LLC, a provider of portable oxygen concentrator, launched new Bluetooth enabled portable oxygen concentrator (POC), OxyGo FIT Connect. The new platform will allow healthcare providers to improve patient outcomes through a new wireless connectivity platform using Bluetooth technology. Moreover, in December 2018, Inogen, Inc. launched Inogen Connect, a new wireless connectivity platform for the Inogen One G4, a portable oxygen concentrator.
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Increasing number approvals and launches for recreational oxygen equipment for medical applications are expected to drive the growth of global recreational oxygen equipment market over the forecast period. For instance, in July 2016, Philips’ SimplyGo Mini portable oxygen concentrator conformed to Federal Aviation Administration (FAA) requirements for portable oxygen concentrator (POC) carriage and in-flight use on aircraft. This approval is expected to increase revenue of the SimplyGo Mini portable oxygen concentrator during the forecast period.
Moreover, in September 2017, Oxygen Plus (O+), a private company engaged in development and manufacturing of recreational oxygen, launched its novel innovation in recreational oxygen, The O+ Biggi. The equipment, with its mega-size canister and unique delivery method is engineered and designed to deliver the pure oxygen to boost natural immunity. The O+ Biggi contains more than 180 breaths (7 liters) of pure recreational oxygen for natural energy.
Rising awareness about respiratory care devices among the population in the developed as well as emerging economies are expected to drive demand for recreational oxygen equipment such as oxygen concentrator, which are mainly used in home-care settings. Moreover, rising prevalence of chronic obstructive pulmonary diseases (COPD) among the geriatric population are expected to fuel growth of the market over the forecast period. For instance, according to the World Health Organization (WHO), in 2016, 251 million people globally developed COPD.
Key Takeaways of the Global Recreational oxygen equipment market:
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