Exercise Oxygen Equipment Market is Expected to Grow with a CAGR of 7.2% from 2021 to 2028
As stated in an extensive report by Vantage Market Research, providing insights on product, portability and application, the Global Exercise Oxygen Equipment Market was valued at USD 2,058 Million in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.2% between 2021 to 2028.
Exercise oxygen equipment include instruments and solutions that aid people in breathing efficiently after a long, rigorous, and heavy exercise regime or workout. They help in restoring the heart rate back to normal swiftly, by providing an additional oxygen supply, thereby, repairing tissues and improving mental keenness.
Rising prevalence of respiratory diseases, increased health awareness, surging technological advancements and the on-going health-conscious trend are some of the key factors that are augmenting the growth of the exercise oxygen equipment market globally.
However, the COVID-19 pandemic brought in worldwide lockdown and a massive wave of infection, forcing people to stay indoors to prevent the spread of the virus. Due to which, gyms and fitness centers were closed off and the exercise regimes of people were disrupted. This, in turn, halted the expansion of the exercise oxygen equipment market.
Moreover, the challenges that come along with the utilization of exercise oxygen equipment such as expensive equipment and lack of awareness, further restrain their market.
Although, the colossal benefits offered by the exercise oxygen equipment such as enhanced efficacy and improved productivity, provide an enthralling opportunity for the growth of exercise oxygen equipment market.
Globally, North America is dominating the exercise oxygen equipment market and this dominance can be attributed to the rising health awareness and enhanced prevalence of a multitude of respiratory disorders, in the region.
Subsequently, Asia-Pacific is anticipated to be the region that grows most rapidly, during the forecast period. This surge is accredited to the rising technological advancements and economic growth and development, in the region.
Some of the major players operating in the global exercise oxygen equipment market are Precision Medical Inc., Philips Healthcare, Invacare Corporation, Rotech Healthcare Inc., Boost Oxygen LLC, Medical Depot Inc., Chart Industries Inc., Nidek Medical Products Inc., Inogen and Providence Health & Services among others.