Market Overview:
Recreational oxygen equipment is used to breathe oxygen during recreational activities such as scuba diving and skydiving. These lightweight, portable equipment contain oxygen cylinders and regulators to deliver oxygen with precision. Their small size and ease of use makes recreational oxygen equipment very popular for adventure sports activities.
Market key trends:
One of the key trends in the recreational oxygen equipment market is the growing popularity of scuba diving and other underwater activities. With travel and tourism industry flourishing, number of people taking up recreational diving has increased manifold over the years. Manufacturers are developing innovative, feature-rich and durable recreational oxygen equipment specifically targeted towards novice as well as professional divers. Furthermore, growing health awareness and inclination towards fit and active lifestyle among millennials have boosted various adventure sports, thereby propelling the demand for reliable and high-quality recreational oxygen equipment.
Market key trends:
One of the major trends in the Global Recreational Oxygen Equipment Market is the rising popularity of oxygen bars and oxygen therapy sessions. Oxygen therapy is being used for various lifestyle diseases like anxiety, fatigue, brain fog, and hangovers. The popularity of oxygen shots or sessions in oxygen bars is increasing as a stress-relieving activity. Another key trend is the growing demand for portable oxygen concentrators and tanks for outdoor activities. With increasing health awareness, people are using oxygen equipment in hiking, trekking, and other adventure sports. The equipment allows continuous oxygen uptake even in low oxygen conditions in high altitudes.
SWOT Analysis
Strength: Portable and lightweight design of equipment like oxygen concentrators and cylinders allows easy carrying and use outdoors.
Weakness: High cost of recreational oxygen equipment compared to medical-grade counterparts limits widespread adoption.
Opportunity: Growing health and wellness tourism provides scope to develop innovative recreational oxygen therapy packages and sessions.
Threats: Limited clinical evidence and research on effectiveness of recreational oxygen therapy poses regulatory challenges. Stringent rules in some regions restrict use of medical-grade oxygen for non-medical purposes.
Key Takeaways
The global recreational oxygen equipment market is expected to witness high growth, exhibiting 16% CAGR over the forecast period of 2023 to 2030, due to increasing health awareness and preference for preventive healthcare. The market size for recreational oxygen equipment was estimated at US$ 5.14 Bn in 2023.
Regional analysis
North America dominates the global recreational oxygen equipment market currently due to strong presence of manufacturers and rising experimentation with oxygen therapy centres. The Asia Pacific region is expected to witness fastest growth in the forecast periodsupported by growing health tourism industry in countries like Thailand, India and China. Increasing disposable income also contributes to the rising adoption.
Key players
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. Most leading players are focusing on developing compact and portable concentrators to expand consumer-segment addressable market.
