The global hyperbaric oxygen therapy market generated $275.1 million in 2021, and is projected to reach $457.6 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
What is the Hyperbaric Oxygen Therapy?
Hyperbaric oxygen therapy is carried out in close chamber in which person breathes in pure oxygen. It is used to treat various diseases like gangrene, decompression sickness, infections, carbon monoxide poisoning, stubborn wounds, and diabetic foot ulcers. About 2.5 times more air is compressed inside a hyperbaric oxygen chamber than normal atmospheric pressure. The lungs can absorb a lot more oxygen in these circumstances than they could if one were inhaling pure oxygen at standard air pressure.
The FDA has approved the use of hyperbaric oxygen therapy (HBOT) for the treatment of non-healing lesions, such as diabetic foot ulcers. Increase in prevalence of diabetes is a major factor that drives the market growth. In addition, increase in adventurous activities is one of the upcoming hyperbaric oxygen therapy market trends. Decompression sickness is frequently reported during adventurous activities and is effectively treated with hyperbaric oxygen therapy.
How big is Hyperbaric Oxygen Therapy Market?
By region, North America accounted for a majority of the global hyperbaric oxygen therapy market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in hyperbaric oxygen therapy treatment techniques, integration of advanced devices and software processes in hyperbaric oxygen therapy, and presence of robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable hyperbaric oxygen therapy market growth, owing rise in diabetic population, development of healthcare infrastructure and increase in investment projects in the region.
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- CAGR: 5.2%
- Current Market Size: USD 275.10 Million
- Forecast Growing Region: APAC
- Largest Market: North America
- Projection Time: 2022– 2031
- Base Year: 2022
(𝐈𝐧 𝐭𝐨𝐝𝐚𝐲’𝐬 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐦𝐚𝐫𝐤𝐞𝐭, 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐢𝐬 𝐚 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐬𝐭𝐞𝐩 𝐢𝐧 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐨𝐫𝐫𝐞𝐜𝐭 𝐭𝐚𝐫𝐠𝐞𝐭 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐚𝐧𝐝 𝐩𝐫𝐨𝐯𝐢𝐝𝐢𝐧𝐠 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐬𝐞𝐝 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞𝐢𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐧𝐞𝐞𝐝𝐬. 𝐖𝐡𝐢𝐥𝐞 𝐟𝐨𝐫𝐦𝐮𝐥𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞𝐬𝐞 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬, 𝐞𝐯𝐞𝐫𝐲 𝐟𝐚𝐜𝐞𝐭 𝐚𝐧𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐩𝐫𝐨𝐛𝐥𝐞𝐦 𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐩𝐚𝐫𝐭𝐢𝐜𝐮𝐥𝐚𝐫 𝐬𝐞𝐜𝐭𝐨𝐫 𝐢𝐬 𝐭𝐡𝐨𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐞𝐝. 𝐈𝐭 𝐚𝐥𝐬𝐨 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐬 𝐧𝐮𝐦𝐞𝐫𝐨𝐮𝐬 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐫𝐞𝐟𝐨𝐫𝐦𝐬, 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐞𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭, 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐛𝐞𝐡𝐚𝐯𝐢𝐨𝐮𝐫, 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐚𝐧𝐝 𝐟𝐮𝐭𝐮𝐫𝐞 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬, 𝐚𝐧𝐝 𝐫𝐚𝐩𝐢𝐝𝐥𝐲 𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐛𝐫𝐞𝐚𝐤𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐬. 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐢𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐨𝐫𝐦𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐩𝐥𝐚𝐧𝐬 𝐚𝐧𝐝 𝐩𝐨𝐥𝐢𝐜𝐢𝐞𝐬.)
Impact of COVID-19 on the Hyperbaric Oxygen Therapy Market-
- The outbreak of COVID-19 had a negative impact on the growth of the global hyperbaric oxygen therapy market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the increased focus towards treating the COVID-infected patients among doctors and nurses.
- In addition, people requiring hyperbaric oxygen therapy treated their illnesses via self-medication or other unconventional methods due to fear of contracting infection by COVID-19 in the hospitals.
- However, the market is expected to recoup soon in the post pandemic period.
Get detailed COVID-19 impact analysis on the Hyperbaric Oxygen Therapy Market
VALUE PROPOSITIONS RELATED TO THE REPORT:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hyperbaric oxygen therapy market analysis from 2021 to 2031 to identify the prevailing hyperbaric oxygen therapy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hyperbaric oxygen therapy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hyperbaric oxygen therapy market trends, key players, market segments, application areas, and market growth strategies.
By type, the market is segmented into monoplace chambers, multiplace chambers and others. The monoplace chambers segment generated maximum revenue in 2021, and also witnessed highest CAGR during the forecast period, as monoplace chambers are more comfortable and less confining than multiplace chambers. By application, the market is divided into decompression sickness, wound healing and others. The wound healing segment dominated the market in 2021, and is expected to witness highest CAGR during the forecast period owing to increase in incidence of wounds and effective treatment for chronic wounds & diabetic foot ulcers.
By end user, the market is divided into hospitals, home care and others. The others segment dominated the hyperbaric oxygen therapy market size in 2021, owing to increase in demand for standalone hyperbaric oxygen therapy centers and increase in usage of hyperbaric oxygen chambers in clinics. The home care segment is expected to witness highest CAGR during the forecast period owing to increase in demand for personalized health care.
Some of the Top Players in the Global Market Are:
- Airox Technologies Limited
- Environmental Tectonics Corporation (ETC),
- Fink Engineering Pty Ltd,
- Gulf Coast Hyperbarics Inc,
- Haux-Life-Support GmbH,
- HearMec Co,
- Hipertech Electronics Inc.,
- Hyperbaric Modular Systems, Inc.,
- Hyperbaric SAC,
- Pan-America Hyperbarics Inc,
- Perry Baromedical Corporation,
- Richmond Hyperbaric Health Centre Inc,
- Royal IHC,
- Sechrist Industries, Inc,
- SOS Group,
- Tekna Hyperbaric Chambers,
- Unique Group FZC.
Inquire More About the Top Market Players Here:
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