Recreational Oxygen Equipment Market Size, Share & Trends Analysis Report By Product (Concentrators, Bar Equipment), By Application (Medical, Athletics/Sports), By Region, And Segment Forecasts, 2019 - 2026

Industry Insights

The global recreational oxygen equipment market size was estimated at USD 93.4 million in 2018 and is expected to exhibit a CAGR of 16.2% during the forecast period. High demand for pure oxygen (O₂) among patients in home care settings and sportspersons is anticipated to be an important factor catalyzing the growth of consumer oxygen over the next few years. The rising trend of oxygen bars in numerous countries is also anticipated to fuel market growth.

Recreational O₂, also called consumer O₂, is being increasingly used by a wide range of professionals, such as actors and sports personalities. Supplemental oxygen helps the body recover from stress, improves stamina, and provides energy boost whenever required. Factors such as unhealthy lifestyles, high prevalence of respiratory diseases and Obesity Hypoventilation Syndrome (OHS), growing geriatric population, and inclination of consumers toward home-based oxygen therapy will also drive the market.

Technologically advanced recreational O₂ products deliver better outcomes, along with greater comfort, controlled flow rate as per requirement, enhanced response, lower wastage of gas, and increased portability. These benefits are expected to propel demand for such equipment over the forecast period. Product manufacturers have been collaborating with various sportsmen to create awareness about the numerous health conditions that require a supplemental supply of oxygen and the many benefits such equipment offers. For instance, in 2017, Phillips collaborated with triathlete Russel Winwood, who has been living with COPD. The aim was to educate, engage, and empower both patients and caregivers about the condition and break barriers associated with it.

According to the data published by the Global Initiative for Chronic Obstructive Lung Disease (GOLD) report, COPD is the 4th leading cause of death globally and is expected to be the 3rd by 2020. Moreover, 90% of these deaths were registered in middle-income countries because of high levels of air pollution and an increase in the adoption of unhealthy lifestyles and habits, such as smoking. This represents lucrative growth opportunities for industry players in emerging economies.

Product Insights

The market is segmented based on product into concentrators, bars, and others, which include canisters. Among these, recreational O₂ concentrators spearheaded the market in 2018, with a share of over 40.0% that year, which can be attributed to high usage in emergency medicine as well as ambulatory and home care settings. This segment is also anticipated to exhibit the fastest CAGR of 16.5% over the forecast period. Increasing demand for lightweight and portable O₂ concentrators is anticipated to drive the segment in the coming years, with demand stemming from people undertaking activities like mountain climbing and hiking on high altitudes, where oxygen levels are low. These variants offer various advantages such as compact size, greater oxygen capacity suitable for all kinds of environments, and better mobility.

Increasing prevalence of various respiratory disorders is also expected to boost demand for portable O₂ equipment. Portable O₂ concentrators have numerous benefits in this regard, such as a continuous supply of oxygen, which increases survival chances, improvement in exercise tolerance, ease of handling, less maintenance, improved battery power, and authorized use in airplanes and airports. Favorable reimbursement policies by governments will also support the adoption of these devices over the forecast period.

Application Insights

On the basis of application, the recreational oxygen equipment market has been segmented into medical, athletics and sports, and others. The medical use of recreational oxygen equipment dominated the market in 2018, accounting for 39.8% of the total revenue. This growth is attributed to factors such as growing prevalence of COPD and high demand for O₂ therapies in home healthcare. Home O₂ concentrators allow patients to be independent and safely go about their daily activities.

In addition, manufacturers focusing on development of cost-effective products has been a significant growth driving factor for this segment. For instance, Oxygen Plus has introduced a number of oxygen-based recreational products, like the O+Biggi launched in July 2019. The equipment has a capacity of delivering 220 breaths and 7 liters of pure oxygen. Inogen is also a technology-driven contender in this segment, with innovative products such as the Inogen G4 portable oxygen concentrator, which can be used in homecare settings.

The use of recreational oxygen equipment among athletes and sportsmen is expected to witness the fastest growth over the forecast period. Portable O₂ equipment is often used in competitive sports or strenuous recreational activities like mountain climbing, skiing, hiking, and biking, allowing users to breathe with ease. Increasing popularity of such sports is likely to have a positive impact on segment growth.

Regional Insights

North America was the largest market in terms of revenue share in 2018 due to factors such as presence of developed home healthcare facilities, favorable reimbursement policies, and increase in demand for recreational oxygen to be used at bars and spas. Supportive government initiatives, such as the Recreational Oxygen Association of North America (ROANA) established in 2013, are involved in strengthening this niche industry. By creating awareness among people and collaborating with regulatory authorities to enhance the use of recreational oxygen, the regional market is expected to receive a major boost. Asia Pacific is expected to witness lucrative growth in the coming years. Increasing healthcare expenditure, rising demand for portable concentrators and cans, and the emerging trend of oxygen for recreational use are likely to drive the regional market.

Recreational Oxygen Equipment Market Share Insights

The market is characterized by intense competition owing to presence of a few well-established players. These players compete based on price, technological advancements, product offerings, and geographical presence. Existing players such as Oxygen Plus, Inc.; Boost Oxygen, LLC; Koninklijke Philips N.V.; Chart Industries; and Inogen have undertaken extensive research and development activities to gain competitive advantage.

Technological innovations in concentrators are further propelling the market growth. For instance, INBair O2 is known to be the most lightweight portable designer recreational oxygen concentrator in the world. The antibacterial equipment is designed to deliver air with a 40% concentration of oxygen. Similarly, Inogen developed a product called Inogen At Home for patients suffering from COPD, bronchitis, and/or other respiratory disorders. Inogen At Home is a lightweight and energy-efficient product permitting 5 liters of continuous oxygen flow per minute.

Report Scope

Segments Covered in the report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2026. For the purpose of this study, Grand View Research has segmented the global recreational oxygen equipment market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2026)

  • Concentrators

  • Bar Equipment

  • Others

• Application Outlook (Revenue, USD Million, 2014 - 2026)

  • Athletics/Sports

  • Medical

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Singapore

  • Latin America

    • Brazil

    • Argentina

    • Mexico

  • Middle East & Africa

    • South Africa

    • UAE

    • Saudi Arabia