Hyperbaric Oxygen Therapy Devices Market
Hyperbaric Oxygen Therapy Devices Market Analysis By Product (Monoplace HBOT Devices, Multiplace HBOT Devices, Topical HBOT Devices), By Application (Wound Healing, Decompression Sickness, Infection Treatment, Gas Embolism) and Region - Global Market Insights 2023 to 2033
Analysis of Hyperbaric Oxygen Therapy Devices Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Hyperbaric Oxygen Therapy Devices Market Outlook (2023 to 2033)
The global hyperbaric oxygen therapy devices market accounts for a valuation of US$ 3.5 billion in 2023 and is forecasted to climb to US$ 7.2 billion by the end of 2033. As per this detailed Fact.MR research analysis, worldwide demand for hyperbaric oxygen therapy devices is predicted to rise at a high-value 7.4% CAGR over the next ten years.
At 1.5 to 3 times the average atmospheric pressure, hyperbaric oxygen therapy (HBOT) devices supply 100% pure oxygen to the bodily tissues. Excess oxygen in the circulation encourages the production of white blood cells and leucocytes, which fight bacteria, as well as the secretion of stem cells, which aids in speedier healing and the restoration of normal body function.
Hyperbaric oxygen therapy devices are used to treat chronic problem wounds by delivering oxygen to all body tissues through monoplace HBOT chambers, multiplace hyperbaric chambers, or topical HBOT chambers.
- As per an article featured on the World Health Organization (WHO) website, around 422 million people are suffering from diabetes around the world and nearly 1.5 million deaths can be attributed to this disease every year.
Adoption of sedentary lifestyles and poor eating habits have influentially contributed to the rising incidence of diabetes among the general population. The use of hyperbaric oxygen therapy devices for diabetic foot ulcer treatment is projected to rise as the incidence of diabetes increases around the world.
- A new report by the World Heart Federation (WHF) revealed that the incidence of cardiovascular disease surged 30% from 12.1 million in 1990 and 20.5 million in the year 2021.
The world has also witnessed a notable hike in the prevalence of cardiovascular disorders, which is projected to promote the use of hyperbaric oxygen therapy for stroke treatment over the coming years. Advancements in hyperbaric oxygen treatment procedures, rising healthcare expenditure, the launch of initiatives to reduce hyperbaric oxygen therapy costs, and the growing use of hyperbaric oxygen therapy for wound healing applications are other prospects promulgating market growth throughout the study period.
Rising adoption of hyperbaric oxygen therapy equipment for lung disease treatment, prevention of reperfusion injury, and transition of healthcare personnel to hyperbaric oxygen therapy devices for healing soft tissue necrosis is extrapolated to create new opportunities for new as well as established hyperbaric oxygen therapy device companies.
Hyperbaric oxygen therapy device start-ups are coming up with unique solutions to improve the quality of hyperbaric oxygen therapy.
- OxyHeal, a start-up based in India, is focusing on improving the quality of chronic wound healing and care through the use of localized hyperbaric oxygen therapy. The company had plans to develop a device that is portable and easy to use as per prescriptions from the doctor.
An elaborate assessment detailing the effects of aspects such as local supply, pricing trends, product standards, safety regulations, and new developments on the hyperbaric oxygen therapy devices industry has been listed in this research report by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
|Hyperbaric Oxygen Therapy Devices Market Size (2023)||US$ 3.5 Billion|
|Projected Market Value (2033F)||US$ 7.2 Billion|
|Global Market Growth Rate (2023 to 2033)||7.4% CAGR|
|Leading Regional Market (2023)||North America|
|Monoplace HBOT Device Demand Growth (2023 to 2033)||7% CAGR|
|Europe Market Share (2023)||20%|
|Key Companies Profiled||
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What Issues Could Lessen the Adoption of Hyperbaric Oxygen Therapy Systems?
“High Treatment Cost, Poor Reimbursement Policies, and Therapy Side Effects”
Oxygen toxicity, barotraumatic lesions, and ocular effects are some complications that a patient could face during hyperbaric oxygen therapy. Growing awareness regarding these side effects and complications among patients is projected to hurt sales of hyperbaric oxygen therapy equipment in the long run. Hyperbaric oxygen therapy instruments are usually on the expensive end of the spectrum and this is forecasted to hurt its sales, especially in the developing economies with tight healthcare budgets.
Suspicions of medical experts regarding the use of hyperbaric oxygen therapy in unapproved contexts could also stifle market growth over the study period. Surging costs of treatments coupled with poor reimbursement policies are also anticipated to trouble hyperbaric oxygen therapy device suppliers going forward. Lack of awareness regarding hyperbaric oxygen therapy device benefits and the dearth of skilled professionals to operate advanced hyperbaric oxygen therapy machines are also slated to impede market development in some regions of the world.
Why are Hyperbaric Oxygen Therapy System Companies Flocking to the United States?
“Rising Investments in R&D and Favorable Reimbursement Policies”
Favorable reimbursement regulations, an increase in R&D efforts, and rising government healthcare spending are factors that are estimated to drive HBOT devices market revenue in the United States over the coming years.
The financial strain on the United States healthcare system is so high that the medical services and centers for medical care have amended the payment policy for wound care, providing financial incentives to hospitals, to improve and reduce expenses. Furthermore, the rising prevalence of necrotizing soft tissue infections, diabetes, and cancer, as well as the involvement of renowned hyperbaric oxygen therapy device companies in this market are also slated to benefit market growth scope going forward.
Why is Hyperbaric Oxygen Therapy Device Demand Rising Rapidly in Asian Countries?
“Flourishing Medical Tourism Attracting Huge Investments”
Asian countries have been witnessing a notable hike in the number of medical tourists over the past few years and this is forecasted to be a key trend that is slated to offer moneymaking opportunities for hyperbaric oxygen therapy device companies in the long run.
- Low cost of quality medical care in Asian countries such as India, China, and Malaysia are what make the Asia Pacific region a hotspot for medical tourism.
Increasing investments by the governments of Asian economies to improve their healthcare infrastructure and the growing availability of advanced treatments are also setting the tone for remunerative business growth in the APAC region across the study period.
Rising incidence of gas embolism and carbon monoxide poisoning, as well as increasing investments by key companies to develop new hyperbaric oxygen therapy devices, are driving market expansion in China. Rapid development and modernization of healthcare facilities and the adoption of more favorable reimbursement regulations in the country are also anticipated to promote market growth through 2033.
Which European Countries Should HBOT Device Manufacturers Target?
“Germany, France, United Kingdom – Leading European Markets”
Increasing government healthcare spending in countries such as Germany, France, and the United Kingdom is projected to open up new avenues of opportunities for hyperbaric oxygen therapy device suppliers over the coming years. The launch of new R&D programs to explore the effects of hyperbaric oxygen therapy on different diseases is also estimated to promote market growth in this region from 2023 to 2033.
- Demand for hyperbaric oxygen therapy devices in the European region accounts for 20% of the global market share in 2023.
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Why are Monoplace HBOT Devices in Such High Demand?
“Growing Adoption of Monoplace HBOT Devices in Hospitals & Clinics”
- Demand for monoplace HBOT devices is forecasted to rise at a CAGR of 7% from 2023 to 2033.
Recent innovations and increasing utilization of monoplace HBOT devices in hospitals and clinics are projected to fuel market development across the study period. Growing adoption of monoplace HBOT systems for wound healing, widespread availability of monoplace devices, rising demand for the convenience of handling, and reduced hospital gas supply requirements are the factors fuelling the sales of monoplace HBOT devices.
Furthermore, monoplace HBOT devices can handle a large number of patients with various diseases and assist medical personnel in monitoring all of the patient's indications and symptoms. Increased penetration to provide portability and user-friendly operability will also help to propel the HBOT devices market forward.
For What Purpose Will Hyperbaric Oxygen Therapy Devices Be Used Most Extensively?
“Hyperbaric Oxygen Therapy for Wound Healing to Drive Market Expansion”
Hyperbaric oxygen therapy devices are becoming more common in the healthcare system as the prevalence of wound site infection rises. Rapid healing necessitates an abundance of oxygen.
- Hyperbaric oxygen therapy involves exposing the body to 100% oxygen in the injured area to speed up the healing process.
Because of the rising occurrences of obesity and diabetes around the world, the demand for hyperbaric oxygen therapy systems in wound healing applications will rise. Factors such as rising healthcare expenses and an expanding geriatric population are also projected to bolster the use of hyperbaric oxygen therapy devices in wound healing applications through 2033.
Top-tier hyperbaric oxygen therapy equipment providers are focusing on launching initiatives and campaigns that promote awareness regarding the benefits of hyperbaric oxygen therapy for different disorders.
- In May 2021, CutisCare, a renowned name in hyperbaric management and wound care, announced the launch of its Hyperbaric Aware website. The company also launched a national campaign to educate people and create awareness regarding hyperbaric oxygen therapy benefits.
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Key Segments of Hyperbaric Oxygen Therapy Devices Industry Research
By Product :
- Monoplace HBOT Devices
- Multiplace HBOT Devices
- Topical HBOT Devices
By Application :
- Wound Healing
- Decompression Sickness
- Infection Treatment
- Gas Embolism
By Region :
- North America
- Latin America
- FAQs -
The global hyperbaric oxygen therapy devices market is valued at US$ 3.5 billion in 2023.
Sales of hyperbaric oxygen therapy devices are projected to reach US$ 7.2 billion by 2033-end.
Hyperbaric oxygen therapy device shipments are predicted to rise at 7.4% CAGR from 2023 to 2033.
Hyperbaric oxygen therapy is used to treat scuba divers affected by rapid change in pressure, diabetic foot ulcers, wound healing, infection treatment, etc.
Two types of hyperbaric chambers are there, classified as monoplace and multiplace chambers.
Perry Baromedical, HAUX-LIFE-SUPPORT, Royal IHC, SOS Group Global Ltd., and OxyHealth are key players in this market.