March 28, 2020

Topical Oxygen Therapy Market Is Expected To Projected Worth US$ 280.10 Mn by 2026 | Credence Research

According to the latest report published by Credence Research, Inc. “Topical Oxygen Therapy Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” The global market for topical oxygen therapy is projected to reach US$ 280.1 million by 2026, increasing to CAGR by 3.5 per cent from 2018 to 2026.

Market Insights 

The market for topical oxygen therapy is projected to reach US$ 280.1 million by 2026 for a CAGR of 3.5 per cent during the forecast period from 2018 to 2026. The increasing incidence of chronic wounds, particularly in the geriatric population suffering from diabetes, is one of the major concerns. Oxygen therapy devices have evolved over time and have proved vital in the treatment of peripheral arterial occlusive disease (PAOD) and diabetic foot ulcers. At present, the single-use topical oxygen system is the largest revenue-generating segment due to the low risk of cross-contamination, user-friendly design and the availability of vast options for application-based selection. The single-use adhesive patch system is the fastest growing segment of the product due to portable use, high patient compatibility, improved efficiency and no contamination.

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According to the World Alliance for Wound and Lymphedema Care (WAWLS), between five and seven million chronic and/or complex wounds occur every year in North America. Pressure ulcers (21%), leg / foot (28%) and surgery / trauma (48%) were common wounds.

The global market for topical oxygen therapy is segmented into products and applications. The products studied in this report are sub-segmented into a single-use topical oxygen system, a single-use adhesive patch system, a reusable topical oxygen system and a transdermal continuous oxygen therapy system. In addition, the applications studied in this report are bifurcated into chronic and acute wounds; additionally, chronic wounds are sub-segmented into diabetic ulcers, venous ulcers and pressure ulcers. Acute wounds are sub-segmented into post-amputation, burn care, post-surgical, skin grafting, and trauma injuries. Increased incidence of chronic wounds would further boost the market for topical oxygen therapy.

Geographically, Asia Pacific is the fastest growing market and North America has held the largest revenue share in 2017 and is projected to remain stable during the forecast period from 2018 to 2026 due to the growing presence of chronic wounds and diabetic patients and the home of major market players. According to the American Diabetes Association, there was about 30.3 Mn of diabetes in 2017, which is expected to increase at a higher rate. The ancestry of North America will clearly be challenged by Europe. Due to strong government support, there are huge opportunities for market spread in countries like India, China, and Mexico to market players that currently have a strong hold in developed countries. The need for topical oxygen therapy systems has increased significantly in Asia Pacific due to a continuous increase in population, a high incidence of chronic wounds and a growing pool of diabetic patients in the region, which will boost the market in the 2018 to 2026 forecast period.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Key Market Movements:

  • Global topical oxygen therapy market will experience steady growth with a CAGR of 3.5% during the forecast period from 2018 to 2026
  • Rising incidence of chronic wounds and growing diabetic population
  • Advancement in the technology of oxygen therapy devices and evolution of advanced wound management products

Report Scope by Segments

By Product Type Segment

  • Single use topical oxygen system
  • Single use adhesive patch system
  • Reusable topical oxygen system
  • Transdermal continuous oxygen therapy

By Application Type Segment

  • Chronic Wounds
    • Diabetic Ulcers
    • Venous Ulcers
    • Pressure Ulcers
  • Acute Wounds
    • Post-amputation
    • Burn Care
    • Post-surgical
    • Skin Grafts
    • Trauma Injuries

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

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