PUBLISHER: Allied Market Research | PRODUCT CODE: 1193143
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193143
The global hyperbaric oxygen therapy treatment market was valued at $275.1 million in 2021, and is estimated to reach $457.64 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Hyperbaric medicine is a pressure environment larger than the atmospheric pressure at sea level. In hyperbaric oxygen therapy (HBOT), 100% oxygen is breathed in, which is carried out at elevated atmospheric pressure. A specific room or tiny chamber is used for hyperbaric oxygen therapy (HBOT), which entails breathing practically pure oxygen. For many years, severe anaemia and other medical disorders have been treated with hyperbaric oxygen therapy.
The major factors that drive the growth of the hyperbaric oxygen therapy treatment market include increase in utilization for wound healing, decompression sickness, gas embolism and awareness regarding the therapy. HBOT is also used to cure a variety of illnesses, including life-threatening crises, including aesthetic operations, wound healing, gas embolism, radiation tissue damage (ORN), and refractory osteomyelitis, due to advancements in technology. Emerging markets possess high growth potential due to availability of improved healthcare infrastructure, unmet healthcare needs, and rise in incidence of diabetes. Furthermore, the developing countries such as China and India present lucrative opportunities for key players that operate in the hyperbaric oxygen therapy market, owing to presence of high population base, increase in awareness about advanced wound care, and rise in demand for advanced therapies. Furthermore, the healthcare industry in emerging economies is developing at a significant rate, due to upsurge in demand for advanced healthcare services, significant investments by governments of developing countries to improve the healthcare infrastructure, and development of the medical tourism industry in emerging countries. These factors are projected to create remunerative opportunities for market expansion during the forecast period.
Adventurous activities like scuba diving or deep-sea diving cause decompression sickness which can be successfully treated using hyperbaric oxygen therapy. In addition, rise in diabetic population drives the market growth as diabetic foot ulcers and wounds can be treated up to greater extent using hyperbaric oxygen therapy.
Furthermore, growth potential due to availability of improved healthcare infrastructure, unmet healthcare needs, and rise in incidence of diabetes & obesity in developing economies is a lucrative opportunity for the market growth. Conversely, reimbursement for oxygen therapy is a tough challenge and complications post therapy are expected to hinder the market growth.
The hyperbaric oxygen therapy treatment market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is categorized into monoplace chamber, multiplace chamber and others. By application, it is divided into wound healing, decompression sickness and others. The wound healing segment is further bifurcated into chronic wounds and acute wounds. By end user, it is segmented into hospitals, home care and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
The major players profiled in the report are Environmental Tectonics Corporation, Fink Engineering Pty Ltd, Gulf Coast Hyperbarics Inc., GWR Medical Inc, Haux-Life-Support GmbH, HearMec Co, Hipertech Electronics Inc, Hyperbaric Modular Systems, Inc, Hyperbaric SAC, OxyHealth Llc, Pan-America Hyperbarics Inc, Perry Baromedical Corporation, Richmond Hyperbaric Health Centre Inc, Royal IHC, Sechrist Industries, Inc., Tekna Hyperbaric Chambers, and Unique Group FZC.
Key Benefits For Stakeholders
By Type
By Application
By End User
By Region