PUBLISHER: The Business Research Company | PRODUCT CODE: 1509658
PUBLISHER: The Business Research Company | PRODUCT CODE: 1509658
Hyperbaric oxygen therapy (HBOT) devices are specialized medical equipment utilized for administering hyperbaric oxygen therapy, which involves breathing pure oxygen in a pressurized chamber. This enables the lungs to absorb more oxygen than would be possible at normal air pressure, facilitating the delivery of oxygen to the body's tissues and organs and promoting various therapeutic effects.
The primary types of hyperbaric oxygen therapy devices include monoplace hyperbaric oxygen therapy devices, multiplace hyperbaric oxygen therapy devices, and topical hyperbaric oxygen therapy devices. Monoplace hyperbaric oxygen therapy devices are chambers designed to accommodate a single patient during treatment sessions. They find applications in wound healing, decompression sickness, infection treatment, gas embolism, and other medical conditions and are utilized by hospitals, home care facilities, and other healthcare settings.
The hyperbaric oxygen therapy devices market research report is one of a series of new reports from The Business Research Company that provides hyperbaric oxygen therapy devices market statistics, including hyperbaric oxygen therapy devices industry global market size, regional shares, competitors with a hyperbaric oxygen therapy devices market share, detailed hyperbaric oxygen therapy devices market segments, market trends and opportunities, and any further data you may need to thrive in the hyperbaric oxygen therapy devices industry. This hyperbaric oxygen therapy devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hyperbaric oxygen therapy devices market size has grown strongly in recent years. It will grow from $3.82 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth observed during the historic period can be attributed to several factors, including the increasing prevalence of chronic wounds, diabetic ulcers, and other conditions, the rising adoption of hyperbaric oxygen therapy (HBOT) for treating decompression sickness, growing awareness about the therapeutic benefits of HBOT for neurological disorders, the expansion of healthcare infrastructure, and rising government initiatives and funding programs promoting research and development in this field.
The hyperbaric oxygen therapy devices market size is expected to see strong growth in the next few years. It will grow to $6.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period can be attributed to several factors, including the growing aging population, increasing incidence of diabetes, rising investment in research and clinical trials aimed at exploring new indications and optimizing HBOT protocols, the increasing demand for portable and transportable hyperbaric chambers, and the expanding healthcare expenditure and insurance coverage for HBOT. Major trends expected in the forecast period include the integration of artificial intelligence (AI) and machine learning algorithms, the development of hyperbaric oxygen therapy apps and software platforms, the adoption of hyperbaric oxygen therapy in combination with other regenerative medicine modalities, the introduction of wearable hyperbaric oxygen devices, and the use of hyperbaric chambers in sports performance optimization and recovery programs for athletes, coaches, and fitness enthusiasts.
The increasing prevalence of diabetes is poised to drive the expansion of the hyperbaric oxygen therapy device market in the coming years. Diabetes encompasses a group of chronic metabolic disorders characterized by elevated blood sugar levels over an extended period. Factors contributing to the rise in diabetes cases include sedentary lifestyles, poor dietary habits, obesity, genetic predispositions, aging populations, urbanization, and socioeconomic influences. Hyperbaric oxygen therapy devices present a supplementary approach to diabetes management by promoting wound healing and tissue repair through the administration of high-pressure oxygen. This therapy holds the potential to mitigate complications such as diabetic foot ulcers and enhance overall outcomes for individuals with diabetes. For instance, data from the Institute for Health Metrics and Evaluation (IHME) projects a surge in global diabetes cases from 529 million in 2023 to 1.3 billion by 2050, with the prevalence rate expected to rise substantially. The highest prevalence rate, currently at 9.3% in North Africa and the Middle East, is forecasted to reach 16.8% by 2050. Thus, the increasing prevalence of diabetes is a key driver of the hyperbaric oxygen therapy device market.
Major players in the hyperbaric oxygen therapy device market are integrating automated logging software into hyperbaric chambers to enhance treatment precision, efficiency, and patient care. This integration enables healthcare professionals to accurately monitor treatment parameters in real-time, ensuring meticulous documentation, streamlined reporting, and enhanced patient safety throughout therapy sessions. For instance, in January 2024, Sechrist Industries Inc., a US-based manufacturer of hyperbaric oxygen chambers and respiratory equipment, introduced the 3300 HM Hyperbaric Chamber and the eHEAL System. The 3300 HM Hyperbaric Chamber prioritizes patient comfort and safety with its modern design and innovative Patient Step-in Entry, eliminating the need for a hyperbaric stretcher. Enhanced safety features, user-friendly breathing systems, and versatile compression options cater to diverse medical needs. Meanwhile, the eHEAL System streamlines hyperbaric treatment logging with its intuitive interface, automated data capture, multi-chamber connectivity, and comprehensive logging capabilities, ensuring accuracy, efficiency, and security in treatment records, while seamlessly integrating with existing systems.
In December 2021, Pommec B.V., a Netherlands-based company specializing in hyperbaric oxygen chambers for the diving industry, merged with IHC Hytech B.V. to form Pommec Hytech Holding B.V. This merger united two companies with a combined history of providing high-end hyperbaric equipment systems and services, establishing a top-3 position worldwide in the supply of such equipment. IHC Hytech B.V. is a Netherlands-based manufacturer of hyperbaric oxygen therapy (HBOT) devices.
Major companies operating in the hyperbaric oxygen therapy devices market are Healogics LLC, SOS Medical Group Ltd., Environmental Tectonics Corporation, Sechrist Industries Inc., BioBarica, Perry Baromedical Corporation, Shanghai Baobang Medical Equipment, Hyperbaric Modular Systems Inc., BAROKS Hyperbaric, HAUX-LIFE-SUPPORT GmbH, Hyperbaric SAC, Pan America Hyperbarics Inc., AHA Hyperbarics, Fink Engineering Pty Ltd, Gulf Coast Hyperbarics, Hyperbaric Medical Solutions, NHC Medical And Beauty, OxyHeal Health Group, Royal IHC, The Oxybarica Group, Hpotech Medical Solutions, Jiangsu Haila Resuscitation Equipment Co. Ltd., OxyHelp Industry SRL, Oxyvein Hyperbaric Chambers, HBOT Medical
North America was the largest region in the hyperbaric oxygen therapy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hyperbaric oxygen therapy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hyperbaric oxygen therapy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hyperbaric oxygen therapy (HBOT) device market consists of sales of portable hyperbaric chambers, hyperbaric oxygen concentrators, and hyperbaric oxygen therapy accessories. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hyperbaric Oxygen Therapy Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hyperbaric oxygen therapy devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hyperbaric oxygen therapy devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hyperbaric oxygen therapy devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.