Hyperbaric oxygen therapy (HBOT) devices are used for delivering pure oxygen (100%) to tissues in the body under higher atmospheric pressure. Atmospheric pressure in hyperbaric oxygen chambers or devices is increased from one to three times higher than normal atmospheric pressure which in turns fight bacteria and also stimulates the release of a substance called growth factors and stem cells promoting healing. By products, the market has been segmented into monoplace HBOT devices, multiplace HBOT devices and Topical HBOT devices. On the basis of the application, market has been segmented into infections, wound healing, gas embolism, decompression sickness and others.
Market Value and Forecast
In terms of value, the global hyperbaric oxygen therapy devices market is estimated to expand at a CAGR of 7.2% during the forecast period. The global hyperbaric oxygen therapy devices market value is expected to increase to US$ 2985.5 million by 2020 end.
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Growth of the global hyperbaric oxygen therapy devices market is mainly driven by growing prevalence of acute and chronic wounds and increasing incidence of wound site infections. Also, increase in the demand for leisure adventure activities is expected to drive growth of the global hyperbaric oxygen therapy devices market over the forecast period.
However, high cost of hyperbaric oxygen therapy devices and reimbursement coverage are factors restraining market growth; these could also obstruct further product development and overall demand for hyperbaric oxygen therapy devices.
Market Segmentation By Product
By product type, the market has been segmented into topical HBOT devices, multiplace HBOT devices and monoplace HBOT devices. Extensive use of monoplace HBOT chambers due to easy procurement and device set-up/installation is anticipated to accelerate growth of this product during the forecast period. Monoplace HBOT devices is expected to remain the largest segment, registering highest CAGR of 7.6% over the forecast period.
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