Devices like an oxygen concentrator can purify the air by removing the nitrogen, allowing the user to breathe easier. Canned oxygen is another name for recreational oxygen. ROE does not need to be approved by the medical devices regulatory agencies like the Food and Drug Administration (FDA) or the European Medicines Agency (EMA). When it comes to improving one’s athletic abilities, recreational oxygen is widely regarded as a key component. Increased natural resolution and quicker muscular recovery are two additional benefits.
With a projected US$ 2,832.3 mn in 2019, the worldwide market for ROE is poised to grow at a Compounded Annual Growth Rate of 16.7% over the next several years (2019-2027).
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Market growth over the projection period is attributed to the rising number of products introduced by established industry players.
Product introductions by industry leaders including LLC, Boost Oxygen, Inogen, Inc., Chart Industries, and Oxyzens are fueling optimism about the future of the sector for ROE. For example, Boost Oxygen LLC introduced two new lines of ROE in December 2017; these lines have oxygen canisters that hold 10, 5, and 2 liters of 95% pure Aviator’s Breathing Oxygen, respectively.
Market expansion is anticipated since major players are emphasizing inorganic growth tactics like partnerships and collaborations to increase their customer base and strengthen their standing in the industry. For example, in April of 2017, the Yorkshire & Humber Academic Health Science Network collaborated with BOC Healthcare to incorporate the NHS’s community-based pulmonary rehabilitation programs with the most comprehensive, intuitive COPD App, user-friendly, myCOPD. BOC Healthcare is able to serve more patients through digital self-management and pulmonary rehabilitation in addition to its standard in-person treatments thanks to this partnership.
Worldwide Market for Recreational Oxygen Equipment – Restraints
Oxygen system product recalls are anticipated to slow the market. Hence, the manufacturing sector and the supply chain may feel the effects of an increase in recalls. During post-market surveillance of the Pure Oxygen Concentrator, CHAD Drive, Models CH5000 and CH5000S, made by Inovo, Inc., the FDA found an aggregate complaint/service rate of more than 35% for low oxygen purity (output oxygen below the published specification), prompting a class II product recall notice to be issued in October 2017.
Worldwide Market for Recreational Oxygen Equipment – Regional Analysis
North America, Europe, the Middle East, Latin America Asia-Pacific, and Africa make up the regional subsets of the worldwide recreational oxygen equipment market.
The presence of prominent companies in North America’s recreational oxygen equipment market bodes well for the region’s future growth. Major players in the U.S. market for oxygen concentrators include industry heavyweights like Inogen, Invacare Corporation, CAIRE, Inc., and O2 Concepts, LLC. Over the projection period, this is what will push the regional market forward.
In addition, the presence of major main players and growing product launches in Europe and Asia Pacific indicate that these areas would have considerable growth in the recreational oxygen equipment market. The Zen-O portable oxygen concentrator, for instance, was introduced by GCE Healthcare in January 2016. (POC). It was created in the company’s brand-new Innovation Centre in St. Helens, United Kingdom.
In addition, Bluewater Alkaline Solutions (BWAS) released its portable oxygen can, OXY99, in the Indian states of Telangana and Andhra Pradesh in the month of November 2018.
Worldwide Market for Recreational Oxygen Equipment – Competitive Landscape
Some of the most important companies in the recreational oxygen equipment industry 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
|The market size value in 2023|
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Recreational Oxygen Equipment Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Recreational Oxygen Equipment Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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