Hyperbaric Oxygen Therapy (HBOT) Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

Hyperbaric Oxygen Therapy (HBOT) Devices Market 

Hyperbaric Oxygen Therapy (HBOT) Devices Market size is expected to grow substantially from 2024 to 2032 on account of the rising number of diabetic patients worldwide. According to a June 2023 article in the journal Lancet, over half a billion people worldwide have diabetes, with this number expected to rise to 1.3 billion in the following 30 years. Diabetes often leads to complications, such as diabetic foot ulcers, further benefitting various treatment techniques. The high prevalence of diabetics in low- and middle-income nations will also contribute to the surging demand for HBOT devices.
 

The increasing popularity of leisure and adventure activities has made way for more instances of acute and chronic wounds. Soaring technological advancements and the growing application scope in cosmetic procedures and wound healing will also expand the scope for HBOT devices. The escalating treatment costs and challenges in reimbursement may hamper the market progress to a certain extent. However, the increasing investments, the rising count of clinical trials, and the higher availability of hyperbaric oxygen therapy systems will positively influence the product uptake in the coming years.
 

Hyperbaric Oxygen Therapy (HBOT) Devices Market Trends

The rapidly expanding geriatric population base requiring specialized care is resulting in the soaring need for hyperbaric oxygen therapy devices. According to the UN 2023 World Social Report published in 2023, the number of individuals aged 65 and more is predicted to double from 761 million in 2021 to 1.6 billion in 2050, accounting for more than 16% of the world population. This demographic trend is creating a substantial market opportunity for HBOT devices, driving manufacturers to innovate and cater to the specific needs of older patients. To that end, the surging prevalence of age-related conditions, such as chronic wounds, and diabetic foot ulcers will augment the industry outlook.
 

Hyperbaric Oxygen Therapy (HBOT) Devices Market Analysis

The monoplace HBOT devices industry is anticipated to witness considerable expansion from 2024-2032 owing to their growing adoption in hospitals and clinics. These devices tend to be used on one individual at a time, usually in a reclining position. They allow only certain ventilation ducts and intravenous lines to penetrate the hull. On account of their easy installation & handling and low maintenance expenses, monoplace systems offer higher commercial availability. Growing penetration to offer portability and user-friendly operability will also contribute to the segment gains.
 

The demand for hyperbaric oxygen therapy devices in wound healing applications is poised to increase during 2024-2032 due to the growing incidences of obesity and diabetes worldwide. According to the IDF (International Diabetes Federation), the total number of people living with diabetes will rise to 783 million by 2045. The increasing burden of wound site infections and chronic and acute wounds will also spur the product adoption.
 

North America hyperbaric oxygen therapy (HBOT) devices market is set to exhibit robust growth between 2024 and 2032 owing to the rising consumer household incomes and the fast-growing population. The proliferating burden of acute wounds and the increasing count of adventure activities have pushed the higher obligation for effective wound healing treatment in the region. Additionally, the surging preference for advanced hyperbaric oxygen therapy has steered the rise in the number of investments by leading regional players. The presence of favorable reimbursement policies and the growing instances of R&D activities, notably in the U.S., along with rising government healthcare spending will foster the regional industry revenue.
 

Hyperbaric Oxygen Therapy (HBOT) Devices Market Share

Some of the major hyperbaric oxygen therapy device companies are-

• Hearmec Co. Ltd
• Fink Engineering
• Hyperbaric SAC
• HAUX-LIFE-SUPPORT GmbH
• Environmental Tectonics Corporation
   

Several key HBOT devices industry players are placing efforts on innovations, expanding applications, and strategic partnerships to widen their global presence.
 

Hyperbaric Oxygen Therapy (HBOT) Devices Industry News

• In July 2023, O2 Worx, a leading firm that designs and produces high-quality and certified hyperbaric oxygen chambers, announced a strategic alliance with Submarine Manufacturing and Products (SMP), the world's top producer and supplier of commercial diving equipment.

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