Vantage Market Research
Nov 12, 2021
According to analysts at Vantage Market Research, the exercise oxygen equipment market is expected to reach USD 3.4 Billion by 2028, growing at a CAGR of 7.2% from 2021 to 2028. The use of exercise oxygen equipment’s by athletes and other non-diseased people to retrieve pre-workout levels is the main reason for the growth in the exercise oxygen equipment market. Home-based oxygen cylinders and portable concentrators have allowed individuals to hoard and use oxygen cylinders for personal use.
Exercise Oxygen Equipment Market Preview
- The Oxygen Concentrators segment is projected to expand at the fastest CAGR over the forecast period owing to the increasing demand from athletes and a growing number of home-based users.
- Portable Oxygen home-based oxygen cylinders are set to boost as home-based oxygen cylinders are in demand for personal use and medical reasons.
- Asia Pacific is expected to expand at a CAGR of over 15% from 2021 to 2028. This surge is attributed to the rising demand for oxygen equipment in developing economies such as China and India.
Some of the key players in the exercise oxygen equipment market include Boost Oxygen, Drive Medical, Boost Oxygen, Chart Industries, Invacare, Weyergans High Care AG, Oxygen Plus, DeVilbiss, Philips Healthcare, Jiuxin Medical, Oxygen Plus., among others. The market is comprised of a high degree of competition due to the presence of numerous key players. Manufacturers are focusing on opting for various inorganic growth strategies such as acquisitions, mergers, and geographical expansion to leverage their market share and gain a competitive advantage.
Improvement of the oxygen flux into body tissues is important for fighting against insufficient oxygen supply, which is a common cause of many diseases, disorders, and complaints, especially with increasing age. All body processes require adequate blood flow, but stress and certain medical conditions can disrupt the blood’s ability to release oxygen into our tissues. We know that increase in oxygen supply to your blood can severely damage the function of your brain, liver, and other organs. We need our blood to carry oxygen to our tissues in order for all body systems to work properly. Increases Oxygen Circulation in the Body restores blood flow, increases the production of ATP, accelerates recovery from illness or injury, improves physical performance, and assists in weight loss. The portable cylinders are much more convenient than traditional cylinders further giving a boost to the home-based demand of oxygen market and the demand for its equipment is also growing. An increase in respiratory disorders is one of the main reasons for the increase in the exercise oxygen equipment market.
Asia Pacific region is poised to record the highest CAGR, owing to the increasing demand in countries, such as India, China, and Japan, coupled with the growth of the region's overall robotics market. In recent times the demand for oxygen is too high due to COVID 19 as hospitals were running out of bed and due to low oxygen saturation in many patients. However, the advent of domestic versions has brought down the prices, which is expected to drive the deployment.