The global hyperbaric oxygen therapy (HBOT) market is expected to rise from its initial estimated value of USD 2.47 billion in 2018 to an estimated value of USD 4.18 billion by 2026 registering a CAGR of 6.8% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising geriatric population over the world and prevalence of demand of arthroscopy in these populations.
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Hyperbaric oxygen therapy (HBOT) is a device which is used in the delivery of the pure oxygen to internal tissues with high atmospheric pressure in the body. While HBOT process, the pressure can be increased more than three times to the normal atmospheric pressure which creates high amount of pressure of oxygen.
HBOT devices can be used for the treatment of various disease such as bell’s palsy, HIV/AIDS, spinal cord injuries, Parkinson’s disease, asthma, hepatitis, multiple sclerosis, sport injuries, stroke and migraines.
Key Developments in the Market:
- In March 2018, Amandeep Hospital (India) launched hyperbaric Oxygen Therapy (HBOT), which will help patients in the quick recovery of wounds especially diabetic foot ulcers and non-healing wounds.
Competitive Analysis: Global Hyperbaric Oxygen Therapy (HBOT) Market
The global hyperbaric oxygen therapy (HBOT) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hyperbaric oxygen therapy (HBOT) market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Hyperbaric Oxygen Therapy (HBOT) Market
Few of the major market competitors currently working in the hyperbaric oxygen therapy (HBOT) market are OxyHeal International, Inc., Fink Engineering Pty. Ltd., Richmond Hyperbaric Health Center, ETC BioMedical Systems, Hearmec Co., Ltd., IHC Hytech B.V., Life healthcare, Hyperbaric SAC, Advanced Hyperbaric Recovery, Sechrist Industries, Inc., SOS Medical Group Ltd. (SOS Hyperlite Ltd), Perry Baromedical Corporation, HAUX-LIFE-SUPPORT GmbH, Healogics and Gulf Coast Hyperbarics, Inc.
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- Increase in the prevalence of wound site infections and growing patient pool worldwide
- Rising demand of low cost treatment
- Rising occurrence of acute and chronic wounds, diabetic foot ulcers and pressure cases fueling the growth of the market
- High cost of hyperbaric oxygen therapy (HBOT) is acting as a major restraint for the market
- Inadequate HBOT recompense coverage hampering the growth of the market
Segmentation: Global Hyperbaric Oxygen Therapy (HBOT) Market
- By Product Type
- Monoplace HBOT Devices
- Topical HBOT Devices
- Multiplace HBOT Devices
- By Application
- Wound Healing
- Decompression Sickness
- Infection Treatment
- Gas Embolism
- By Geography
- North America
- South America
- Rest of South America
Reasons to Purchase this Report:
- Current and future of global hyperbaric oxygen therapy (HBOT) market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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