The global market for hyperbaric oxygen therapy devices was valued at USD 140.5 million in 2015 and is expected to reach USD 267.9 million by 2025, increasing to CAGR by 7.5 per cent from 2016 to 2025. Hyperbaric oxygen therapy involves breathing oxygen in pressurized chambers where the atmospheric pressure is three times higher than normal, allowing the lungs to absorb three times more oxygen than normal air pressure. Hyperbaric oxygen therapy increases the amount of oxygen that can improve vital tissue function in recovery from injury and in the fight against infection.
A high awareness, a significant prevalence of chronic wounds and intensive claims that treatment is effective have led to the growth of this market in the past. However, the risk of injury, the limited reimbursement of treatment, may hold back the growth of this market during the forecast period. Demand for hyperbaric oxygen treatment is expected to increase further in the emerging economies of Asia-Pacific, Latin America, Middle East and Africa due to the development of healthcare infrastructure in the regions. Monoplace HBOT devices have the largest share of the overall market for HBOT devices. The competitive prices of single-seater HBOT devices have supported the increase in demand for these devices across all geographies.
In addition, the demand for multiplace devices in critical care units is expected to be higher due to the technical evolution of these devices, along with the benefit of integrating ICU devices into multiplace systems. Wound healing is currently the largest application area for hyperbaric oxygen chambers and will retain its lead over the forecast period. The high prevalence of chronic wounds and the increasing willingness of both patients and medical professionals to adopt novel treatment options facilitate the dominance of this segment. Diabetic wound patients are the largest patient base for HBOT devices. Technical development is a key feature of this market. Key players in the market for hyperbaric oxygen therapy devices are heavily involved in intensive research and development initiatives and the adoption of advanced technologies. Expansion of geographical reach is one of the key strategies adopted by market players and the introduction of cost-effective products in developing markets. Some of the key players identified in the global hyperbaric oxygen therapy devices market are TC BioMedical Systems, Hyperbaric SAC, Fink Engineering Pty, Ltd., Haux-Life-Support GmbH, Gulf Coast Hyperbarics, Inc., IHC Hytech B.V., Sechrist Industries, Inc., SOS Medical Group, Ltd. and OxyHeal Health Group.
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Key research study highlights comprise:
- Exhaustive research and analysis of the global HYPERBARIC OXYGEN THERAPY DEVICES industry
- The key market segments along have been explained in the report thoroughly along with their existing and estimated market size
- Major elements of market dynamics such as drivers, challenges and opportunities and their effect on HYPERBARIC OXYGEN THERAPY DEVICES market is also covered in the report
- Key players operating in the market are profiled and accompanied with the competitive landscape evaluated on the basis of product offering & business strength
- Cross sectional analysis of each region covering individual segments for the forecast period 2016 – 2016 in terms of value (US$Mn)
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