USD 32.41 billion
Hyperbaric Oxygen Therapy Market Size, Share, Growth Analysis, By Product(Monoplace oxygen chambers, multiplace oxygen chambers, topical oxygen chambers, portable oxygen chambers), By Application(Decompression sickness, wound healing, infectious diseases, gas embolism), By End user(Hospitals, Ambulatory care centers, outpatient clinics, standalone hyperbaric treatment centers), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35A2093 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
96
|Figures:
76
Hyperbaric Oxygen Therapy Market Insights
Global Hyperbaric Oxygen Therapy Market size was valued at USD 32.41 billion in 2019 and is poised to grow from USD 34.5 billion in 2023 to USD 54.1 billion by 2031, growing at a CAGR of 6.51% in the forecast period (2024-2031).
The hyperbaric oxygen therapy device plays an important role in various medical issues as it is a medical device that is used to provide an optimum level of oxygen to the tissues in the human body under high atmospheric pressure.
The air pressure, in this medical treatment, is increased two to three times higher than the normal air pressure. Thus, the oxygen-carrying blood helps to fight bacteria and other unwanted hosts in the body by promoting healing.
This medical treatment is used to treat wounds as a result of radiation, air bubbles in blood vessels, and many other serious infections like diabetes.
The Food and Drug Administration (FDA) has approved 13 medical uses of hyperbaric oxygen therapy (HBOT) to date. The regulatory has approved a number of indications such as pulmonary embolism, severe anaemia, decompression sickness, burns and brain abscesses to name a few out of the thirteen approved indications.
Another factor that is projected to accelerate the growth of the market include the huge price tag associated with hyperbaric oxygen therapy (HBOT) products.
US Hyperbaric Oxygen Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
topical oxygen chambers
Fastest Growth
monoplace oxygen chambers
Growth Rate
6.51% CAGR
Global Hyperbaric Oxygen Therapy Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Hyperbaric Oxygen Therapy Market Segmental Analysis
Global Hyperbaric Oxygen Therapy market is segmented on the basis of product, application, end users, and region. By product, the market is segmented into monoplace oxygen chambers, multiplace oxygen chambers, topical oxygen chambers, and portable oxygen chambers. By application, the market is segmented into decompression sickness, wound healing, infectious diseases, gas embolism, carbon monoxide poisoning, and others. By end user, the market is segmented into hospitals, ambulatory care centers, outpatient clinics, standalone hyperbaric treatment centers, and others. By region, the market is segmented into North America, Europe, Latin America, Asia Pacific, and MEA.
Hyperbaric Oxygen Therapy Market Analysis by Product Type
By product type, the monoplace HBOT devices industry will witness expansion through 2028 due to rising technological advancements and its growing adoption in hospitals and clinics.
These devices tend to one individual at a time, usually in a reclining position. They also allow only certain intravenous lines as well as ventilation ducts to penetrate through the hull.
Because of their ease of installation and handling, and low maintenance costs, monoplace systems mark higher commercial availability. Increasing penetration to offer portability and user-friendly operability will additionally contribute a positive edge to the HBOT devices market expansion.
Hyperbaric Oxygen Therapy Market Analysis by Application
By Application, Hyperbaric oxygen therapy devices are becoming more common in the healthcare system for wound healing. Rapid healing necessitates an abundance of oxygen.
Hyperbaric oxygen therapy involves exposing the body to 100% oxygen in the injured area to speed up the healing process. Because of the rising occurrences of obesity and diabetes around the world, demand for hyperbaric oxygen therapy systems in wound healing applications will rise.
Factors such as rising healthcare expenses and an ageing population are expected to boost the segment growth. One of the few aspects that can be attributed to the greatest market share is the availability of improved solutions for the treatment of chronic wounds.
Global Hyperbaric Oxygen Therapy Market By product type, 2021 (%)
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Hyperbaric Oxygen Therapy Market Regional Insights
Globally, North America was the leading segment and accounted for around 32% of the total revenue in 2016. The U.S. was the leading market in 2022 and is also anticipated to hold largest revenue share over the forecast period. According to the American Venous Forum, advanced venous diseases characterized by skin changes and leg ulceration affect over 2.5 million people annually in the U.S. The increasing prevalence of chronic & acute wounds and simultaneously growing treatment rate due to the presence of developed healthcare technology, growing healthcare expenditure, and huge disposable income are some of the factors that are expected to boost the market over the coming years.
Asia Pacific will witness substantial demand for hyperbaric oxygen therapy market in the future. Emerging economies such as India, China, Philippines, Vietnam, and Brazil have been experiencing strong economic growth. Increasing population and rising need for wound healing treatment have spurred the demand for HBOT in the region. Growing disposable income has triggered consumers to avail of technologically advanced medical treatment and therapies. Asia Pacific is expected to be the fastest growing region over the coming few years. This region is anticipated to deliver enormous growth due to increasing per capita income, growing medical tourism industry, and rising public awareness regarding benefits of HBOT devices. As compared to the growth rate of Japan, China is anticipated to witness faster growth in the Asia Pacific region.
Global Hyperbaric Oxygen Therapy Market By Geography, 2021-2028
- Largest
- Fastest
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Hyperbaric Oxygen Therapy Market Dynamics
Hyperbaric Oxygen Therapy Market Drivers
Rising Number of Obesity to Bolster Demand for Hyperbaric Oxygen Therapy Market
- The rise in demand for devices for hyperbaric oxygen therapy is due to the increasing number of diabetic patients worldwide. As a result, the market will have an upward tendency over time.
- The market is anticipated to grow as medical tourism rises. The government's support and investment in the growth of the healthcare industry is expected to bring lucrative growth opportunities for players in the market.
- Hyperbaric Oxygen Therapy technique is now used to treat cancer patients as well as individuals with brain injuries. It effectively treats disorders such as arterial gas embolism and severe carbon monoxide poisoning and in combination with other therapies can treat disorders according to individual requirements.
- In addition, the global HBOT market is expected to register significant growth due to technological advancements and the ability of the procedure to effectively treat carbon monoxide poisoning, decompression sickness, and arterial gas embolism.
Hyperbaric Oxygen Therapy Market Restraints
High Cost Associated with Setting up Device can Hinder Market Growth
- The exorbitant price of the entire setup would hinder HBOT's market expansion. The lack of knowledge and skills required to use these systems regarding these systems may also act as a roadblock to the expansion of this sector.
- Potential negative effects of the medication are another market constraint. These include vision abnormalities, sinus problems, oxygen deprivation, etc.
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Hyperbaric Oxygen Therapy Market Competitive Landscape
The global Hyperbaric Oxygen Therapy market is highly competitive with the presence of several international and local players across the globe. Product diversification, advancement, merger & acquisition and quality enhancement are the leading key strategies opting through prominent market players.
Hyperbaric Oxygen Therapy Market Top Players Company Profiles
- Sechrist Industries, Inc.
- OxyHeal International
- ETC Hyperbaric Chambers
- Fink Engineering Pty Ltd.
- SOS Medical Group Ltd.
- Gulf Coast Hyperbarics, Inc.
- Hyperbaric SAC
- Hearmec Co., Ltd.
- IHC Hytech B.V.
- Hyperbaric Technology (HyTech) Finland Oy
- Haux-Life-Support GmbH
- BaroFold, Inc.
- Hyperbaric Medical Solutions (HMS)
- Hearmec Co., Ltd.
- Hyperbaric Consulting
- Haux-Life-Support GmbH
- Hyperbaric Technologies, Inc.
- Perry Baromedical Corporation
- Respirox Technologies Inc.
Hyperbaric Oxygen Therapy Market Recent Developments
- In May 2021, CūtisCare, a leading provider of multi-place hyperbaric services for trauma centers and acute care hospitals, announced the official launch of hyperbaric aware website and national campaign. CūtisCare aims to increase awareness about hyperbaric oxygen therapy to effectively deal with various chronic conditions.
Hyperbaric Oxygen Therapy Key Market Trends
Technological Advancement will Provoke Market Growth Exponentially in Coming Years
- Growing adoption of wound healing, widespread availability of monoplace systems, rising demand for the convenience of handling, and reduced hospital gas supply requirements are the factors that are anticipated to accelerate the sales of monoplace HBOT devices. Monoplace HBOT devices can handle a large number of patients with various diseases and assist medical personnel in monitoring all of the patient's indications and symptoms. Increased penetration to provide portability and user-friendly operability will also help to propel the HBOT devices market forward.
Hyperbaric Oxygen Therapy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global hyperbaric oxygen therapy market analysis, the global market is witnessing healthy growth during the forecast period owing to high growth in health. Players in the market will cater to diabetic patients the most. One of the few aspects that can be attributed to the greatest market share is the availability of improved solutions for the treatment of chronic wounds.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 32.41 billion |
| Market size value in 2031 | USD 54.1 billion |
| Growth Rate | 6.51% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hyperbaric Oxygen Therapy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hyperbaric Oxygen Therapy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hyperbaric Oxygen Therapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hyperbaric Oxygen Therapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hyperbaric Oxygen Therapy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hyperbaric Oxygen Therapy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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