Hyperbaric Oxygen Therapy (HBOT) Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3229
Hyperbaric Oxygen Therapy (HBOT) Devices Market size is forecasted to experience considerable growth from 2019 to 2025.
Hyperbaric oxygen therapy (HBOT) devices market will witness significant growth in the upcoming years due to increase in usage of hyperbaric oxygen therapy in healing of wound procedures. As well as growing prevalence of chronic disease such as diabetes that causes chronic wounds will also augment the growth of the market. As per American Diabetes Association, about 1.25 million children and adults in America have type 1 diabetes. Hence the widespread of such diseases will be one of the major market emerging factors.
Rise in venture capital investments for hyperbaric oxygen therapy (HBOT) devices by major players such as Fink Engineering, HAUX-LIFE-SUPPORT, Gulf Coast Hyperbarics etc will be one of the major factors responsible for market growth. Additionally, technological advancements in the past few years will foster growth of hyperbaric oxygen therapy (HBOT) devices market.
High cost associated with hyperbaric oxygen therapy will be one of the major market impeding factors. Furthermore, inadequate HBOT reimbursement coverage policies in certain regions will reflect a downward growth trajectory of the market. additionally, lack of awareness about latest HBOT solutions will act as barrier to market growth.
Monoplace HBOT devices market is estimated to witness considerable amount of growth in the forecast timeframe. Growing use of these devices in burns and trauma centers, diabetic foot wound healing clinics and in alleged corporate hospitals will assist in market growth. Moreover, rising cases of cosmetic surgeries is another reason to boost product demand, fueling the business growth.
Wound healing is a major application of hyperbaric oxygen therapy (HBOT) devices. Hyperbaric oxygen therapy includes divulging the body to 100% oxygen at a greater pressure than normal since wounds require oxygen to heal rapidly. Hence, the growing incidence wound healing procedures are augmenting the growth of the HBOT market. For instance, hyperbaric oxygen therapy is effective for the treatment of diabetic foot wounds, that is rapidly growing due to the increasing prevalence of diabetes in people, thus the aforementioned reasons hold dense significance in the growth of the market.
Hospital as an end-use segment is expected to display considerable growth across the projected timeframe, as wide range of these products are applicable and available in hospital facilities. Increasing patient population seeking effective and unfussy treatment with shorter retrieval time are key aspects driving implementation of hyperbaric oxygen therapy (HBOT) devices in hospitals, thus augmenting the market growth.
U.S. hyperbaric oxygen therapy (HBOT) devices market is projected to hold majority of the market share owing to rapidly developing innovative technology. U.S. has large amount of geriatric inhabitants that is prone to chronic diseases. Furthermore, recent technological advancements in the healthcare industry will significantly drive hyperbaric oxygen therapy (HBOT) devices market in the country.
Hyperbaric oxygen therapy (HBOT) devices market will observe a substantial growth in India during the forecast period. Rising healthcare expenditure and high prevalence of diabetes among Indian population will boost India hyperbaric oxygen therapy (HBOT) devices market.
Some of the major industry players are Fink Engineering, HAUX-LIFE-SUPPORT, Gulf Coast Hyperbarics, Inc., IHC Hytech B.V. (Royal IHC) and HEARMEC; Hyperbaric, Sechrist Industries, OxyHeal International, SOS Medical Group Ltd etc. These firms are highlighting on strategies such as alliances and novel product launch to augment product portfolio and widen their market scope.
Hyperbaric Oxygen Therapy (HBOT) Devices Market by Product, 2014-2025 (USD Million)
- Monoplace HBOT Devices
- Topical HBOT Devices
- Multiplace HBOT Devices
Hyperbaric Oxygen Therapy (HBOT) Devices Market by Application 2014-2025 (USD Million)
- Wound Healing
- Decompression Sickness
- Infection Treatment
- Gas Embolism
Hyperbaric Oxygen Therapy (HBOT) Devices Market by End-use 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Fink Engineering
- Sechrist Industries
- Gulf Coast Hyperbarics, Inc.
- IHC Hytech B.V. (Royal IHC)
- HEARMEC; Hyperbaric
- Sechrist Industries, Inc.
- OxyHeal International
- Haux-Life-Support GmbH
- HYPERBARIC S.A.C.
- Hyperbaric Technology (HyTech) B.V.
- Sands Hyperbaric Corporation
- SOS Medical Group Ltd.
- Hearmec Co., Ltd. and Fink Engineering Pty. Ltd.
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