The growing prevalence of diabetes, affecting over 30 million Americans in 2017, has driven the expansion of the hyperbaric oxygen therapy (HBOT) market. HBOT's ability to promote vessel development proves beneficial for diabetes patients. Additionally, the rising popularity of adventure sports has led to an increased frequency of serious wounds and injuries, prompting physiotherapists to recommend HBOT for wound healing. As a result, the market for HBOT is witnessing significant growth.
According to Data Bridge Market Research, the Global Hyperbaric Oxygen Therapy (HBOT) Market is expected to reach the value of USD 3.39 billion in 2021, would grow up to USD 6.96 billion by 2029, and is expected to undergo a CAGR of 9.40% during the forecast period 2022 to 2029
" Increasing prevalence of chronic wounds surge market demand"
The prevalence of chronic wounds, including diabetic foot ulcers and pressure ulcers, is on the rise due to factors such as an aging population and increasing diabetes rates. In response to this growing issue, hyperbaric oxygen therapy (HBOT) has emerged as an effective treatment option. HBOT promotes wound healing and helps reduce the risk of amputations by delivering high levels of oxygen to the affected tissues, fostering a favorable environment for healing and tissue repair.
What restraints the growth of the global hyperbaric oxygen therapy (HBOT) market?
" High treatment costs can impede the market growth”
Hyperbaric oxygen therapy (HBOT) entails substantial expenses due to its specialized nature, necessitating dedicated equipment and trained healthcare professionals. The costs include constructing and maintaining hyperbaric chambers, as well as administering the therapy. These factors contribute to the high treatment costs associated with HBOT, which may pose challenges to affordability and accessibility to some patients seeking this therapeutic option.
Segmentation: Global Hyperbaric Oxygen Therapy (HBOT) Market
The hyperbaric oxygen therapy (HBOT) market is segmented on the basis of product type, application, and end-user.
- On the basis of product type, the hyperbaric oxygen therapy (HBOT) market is segmented into monoplace HBOT, multiplace HBOT, and topical HBOT devices
- On the basis of application, the hyperbaric oxygen therapy (HBOT) market is segmented into wound healing, decompression sickness, infection treatment, gas embolism, and others
- On the basis of end-use, the hyperbaric oxygen therapy (HBOT) market is segmented into hospitals and clinics, ambulatory surgery centres, and others
Regional Insights: North America dominates the Global Hyperbaric Oxygen Therapy (HBOT) Market
North America dominates the hyperbaric oxygen therapy (HBOT) market primarily because of its significant share of competitors with advanced technologies. The region's strong presence of healthcare companies and research institutions has led to continuous growth and innovation in HBOT treatments and equipment. This technological advantage, coupled with increasing awareness and adoption of HBOT for various medical conditions, has positioned North America as a major contributor to the growth and development of the global HBOT market.
The Asia-Pacific region shows promising potential for the hyperbaric oxygen therapy (HBOT) market, as it is projected to exhibit the highest compound annual growth rate (CAGR). The region's growth is driven by an increasing number of patients with acute and chronic diseases, including diabetes, asthma, and other health problems. As awareness of HBOT's benefits grows, healthcare providers in Asia-Pacific are adopting this therapy to address a wide range of medical conditions, contributing to its rapid expansion in the region.
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Recent Developments in Global Hyperbaric Oxygen Therapy (HBOT) Market
- In November 2019, At the MEDICA trade fair in Germany, AHA Hyperbarics GmbH unveiled the AHA Flex V2 hyperbaric system. The AHA Flex V2 hyperbaric system is used to treat diabetic foot ulcers, crush injuries, and cerebrovascular insult (CVI). This grid-powered device, which consists of two bags, operates on a 2.0 bar.
- In February 2020, Environmental Tectonics Corporation Biomedical Systems' hyperbaric segment was purchased by Perry Baromedical Corporation. Perry Baromedical Corporation expanded and penetrated markets in the Asia-Pacific region thanks to the acquisition. Additionally, the acquisition improved the installed base both domestically and internationally.
The Prominent Key Players Operating in the Global Hyperbaric Oxygen Therapy (HBOT) Market Include:
- Perry Baromedical (U.S.)
- Sechrist Industries, Inc. (U.S.)
- Tekna Hyperbaric (India)
- Pan America Hyperbarics, Inc. (U.S.)
- HAUX-LIFE-SUPPORT (Germany)
- PCCI (France)
- Hipertech Electronics Inc. (U.S.)
- Sosgroup (U.S.)
- HEARMEC (France)
- OxyHealth (U.S.)
- Environmental Tectonics Corporation (U.S.)
- IHC Merwede Holding B.V. (Netherlands)
- Advanced Biomedical Engineering (Japan)
- Airox Technologies Private Limited (India)
- Biovision Healthcare (India)
- Richmond Hyperbaric Health Center (Canada)
- Universe Surgical Equipment Co. (India)
Above are the key players covered in the report, to know about more and exhaustive list of global hyperbaric oxygen therapy (HBOT) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Hyperbaric Oxygen Therapy (HBOT) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
