PUBLISHER: The Business Research Company | PRODUCT CODE: 1526989
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526989
Hyperbaric oxygen therapy (HBOT) is a medical treatment involving breathing pure oxygen in a pressurized chamber or room. It's utilized for various medical conditions such as decompression sickness, carbon monoxide poisoning, non-healing wounds, radiation injuries, and specific infections.
The main product types in the hyperbaric oxygen therapy market are monoplace hyperbaric oxygen therapy, multiplace hyperbaric oxygen therapy, and topical hyperbaric oxygen therapy devices. Monoplace hyperbaric oxygen therapy chambers are designed for a single patient in a reclining position. Applications include wound healing, decompression sickness, infection treatment, gas embolism, among others. These are used by various end-users such as hospitals, clinics, ambulatory surgery centers, and other medical facilities.
The hyperbaric oxygen therapy market research report is one of a series of new reports from The Business Research Company that provides hyperbaric oxygen therapy market statistics, including hyperbaric oxygen therapy industry global market size, regional shares, competitors with a hyperbaric oxygen therapy market share, detailed hyperbaric oxygen therapy market segments, market trends, and opportunities, and any further data you may need to thrive in the hyperbaric oxygen therapy industry. This hyperbaric oxygen therapy research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The hyperbaric oxygen therapy market size has grown rapidly in recent years. It will grow from $3.98 billion in 2023 to $4.42 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to several factors including the rising prevalence of chronic wounds and diabetic foot ulcers, increased awareness of the benefits of hyperbaric oxygen therapy (HBOT), advancements in medical technology making HBOT more accessible and effective, favorable insurance coverage and reimbursement policies for HBOT treatments, and the overall growth in the diabetic population leading to increased demand for therapies such as HBOT to manage associated complications.
The hyperbaric oxygen therapy market size is expected to see rapid growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to several factors, including the growing incidence of soft tissue radionecrosis and carbon monoxide poisoning, increased healthcare expenditure globally, the expanding applications of hyperbaric oxygen therapy (HBOT) in aesthetic medicine, the rising aging population requiring advanced medical treatments, and ongoing research and development in hyperbaric medicine leading to improved therapies and outcomes. Major trends in this period include product innovation in HBOT equipment, the integration of HBOT with telemedicine for remote consultations and monitoring, heightened research and development activities aimed at enhancing HBOT efficacy and safety, increasing partnerships between healthcare providers and HBOT manufacturers, and ongoing technological advancements in HBOT equipment to improve patient comfort and treatment outcomes.
The hyperbaric oxygen therapy market is poised for growth, driven by the increasing prevalence of diabetes. Diabetes encompasses a group of chronic metabolic disorders characterized by elevated blood sugar levels over an extended period. Sedentary lifestyles, poor diets, obesity, and genetic factors contribute to the rising incidence of diabetes. Hyperbaric oxygen therapy (HBOT) is a treatment modality used for diabetes-related complications, particularly diabetic foot ulcers and non-healing wounds. For example, the International Diabetes Federation reported in December 2021 that around 537 million adults aged 20-79 were affected by diabetes in 2021, with projections indicating a significant increase to 643 million by 2030 and 783 million by 2045. This surge in diabetes prevalence is fueling the growth of the hyperbaric oxygen therapy market.
Leading companies in the hyperbaric oxygen therapy market are focusing on developing innovative products such as hyperbaric chambers to cater to evolving customer needs. Hyperbaric chambers are specialized medical devices that create a pressurized environment for administering HBOT, allowing patients to breathe pure oxygen and improve oxygen delivery to body tissues. For instance, Sechrist Industries Inc. launched the 3300 HM Hyperbaric Chamber in January 2024, designed for enhanced patient comfort and accessibility. It features advanced monitoring systems for real-time tracking of vital signs and chamber conditions, ensuring patient safety. The chamber also incorporates state-of-the-art oxygen delivery systems for optimal efficiency and a user-friendly interface for healthcare professionals.
In December 2021, Pommec B.V. merged with IHC Hytech B.V. to form Hytech-Pommec, a global manufacturer and supplier of hyperbaric total solutions. This merger strengthened the supply of high-end hyperbaric equipment systems and services worldwide. IHC Hytech B.V. specializes in hyperbaric oxygen equipment and chambers, complementing Pommec B.V.'s expertise in tool manufacturing.
Major companies operating in the hyperbaric oxygen therapy market are Healogics LLC, SOS Medical Group Ltd., Environmental Tectonics Corporation, Sechrist Industries Inc., BioBarica Profesionales, Perry Baromedical Corporation, Shanghai Baobang Medical Equipment Co. Ltd., Hyperbaric Modular Systems Inc., Baroks Hyperbaric, Haux-Life-Support GmbH, Haux-Technik GmbH, Hyperbaric SAC, Pan America Hyperbarics Inc., OxyHeal Health Group, Fink Engineering Pty Ltd, AHA Hyperbarics, The Oxybarica Group, NHC Medical And Beauty, Hyperbaric Medical Solutions, Gulf Coast Hyperbarics, Hearmec Co. Ltd., Hpotech Hyperbaric Solutions
North America was the largest region in the hyperbaric oxygen therapy 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 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hyperbaric oxygen therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hyperbaric oxygen therapy market consists of sales of hyperbaric oxygen chambers, monitoring and cardiac support devices, oxygen delivery systems, medical gowns, and clear plastic tubes. 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 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 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 ? 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 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
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.