Hyperbaric Oxygen Therapy (HBOT) Devices Market By Device Type (Monoplace & Multiplace HBOT Devices) By Application (Wound Healing, Decompression Sickness, Air Or Gas Embolism, Infection Treatment & Others) - Growth, Future Prospects & Competitive Analysis, 2016 – 2024

The global market for hyperbaric oxygen therapy (HBOT) devices is anticipated to reach US$ 267.9 million by 2024. The increasing preference of physicians to use oxygen therapy has greatly contributed to the market growth of HBOT devices. HBOT devices have received F.D.A. approval for the treatment of necrotizing soft tissue infections, injuries, burns, decompression sickness, and others. Off-label use of HBOT devices encompasses the treatment of brain injuries and even cancer, despite a lack of robust clinical evidence. The HBOT devices market is therefore expected to witness a boost in regional markets such as Asia Pacific, Latin America, and parts of Europe.

As the areas of Application of hyperbaric oxygen therapy are gradually increasing, there has been a resultant growth in the number of manufacturers offering HBOT devices. This has thus been driving the global HBOT device market. However, moderate skepticism associated with the adoption of hyperbaric oxygen therapy and the large capital and space requirements may hold back the growth of this market. Further approvals expanding the Application of hyperbaric oxygen therapy will consequently open avenues for market proliferation. Additionally, revived demand for HBOT devices will also be witnessed in the market due to the growing adoption of multiple devices.

Market Synopsis

Heightened demand for multiplace HBOT devices to bolster the market position

At present, monoplane HBOT devices enjoy the dominance in the global HBOT devices market. Early introduction in the market and easy adoption in financially moderate settings facilitate the prominent position of this segment. On the other hand, the position of monoplane HBOT devices will be significantly challenged by the growing popularity of multiple devices. Multiple devices are gaining heightened demand, particularly in the developed parts of the world, due to their greater affordability and ability to treat multiple patients simultaneously.

Wound healing to spearhead the HBOT device market

Wound care and the prevention of infection form a prime concern for healthcare professionals worldwide. Rising incidences of pressure and diabetic ulcers, post-surgical complexities, and burns have urged the need for innovative and advanced wound care solutions such as hyperbaric oxygen therapy.

Oxygen therapy has been approved for wound healing purposes as it efficiently helps in improving morbidity while simultaneously providing a moist environment for appropriate wound healing. Some of the prime wound healing applications where HBOT is used include thermal burns, soft tissue infections, delayed radiation injuries, crush injuries, and diabetic wounds. However, a lack of awareness and less accessibility in resource-poor settings may restrict the widespread adoption of HBOT devices for wound healing applications.

Set to remain the leading market for medical devices, North America will dominate the market.

North America is the largest regional market for hyperbaric oxygen therapy devices, followed by Europe and Asia Pacific. The large patient population affected by diabetes and infection is the major driver of the North American market. The existence of evolved healthcare infrastructure, favorable reimbursement policies, and greater awareness are the other key factors facilitating the dominance of North America on the global front. Additionally, Asia-Pacific is identified as the fastest-growing regional market for hyperbaric oxygen therapy devices.

Increasing disposable incomes and the widespread proliferation of healthcare systems are the key drivers supporting the growth of the Asia-Pacific market. It is also anticipated that due to the large geographical landscape and growing healthcare facilities in remote areas, the demand for topical HBOT devices will be high in Asia Pacific and Latin America.

Historical and Forecast Period

  • 2014, the historical year
  • 2015, the base year
  • 2016-2024: Forecast Period

This research report presents the analysis of each segment considered for the period from 2014 to 2024, using 2015 as the base year for estimations. Compounded annual growth rates (CAGRs) for each segment are calculated for the forecast period from 2016 to 2024.

Report Scope by Segments

The hyperbaric oxygen therapy devices market report provides a quantitative assessment of the industry in terms of current and forecasted market size while also presenting the market dynamics. This market is segmented based on drugs, diagnostic tools, and geography.

by Device Type (2014–2024; US$ Mn)

  • Monoplace HBOT devices
  • Multiplace HBOT devices

by Application (2014–2024; US$ Mn)

  • Wound healing
  • Decompression sickness
  • air or gas embolism
  • Infection treatment
  • Others
  • Laboratory Testing

Geography Segment (2014–2024; US$ Mn)

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • Rest of Europe
  • Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • Rest of APAC
  • Latin America (LATAM)
  • Brazil
  • Mexico
  • rest of Latin America
  • Middle East and Africa (M.E.A.)
  • G.C.C.
  • Rest of the Middle East and Africa

The overall dynamics of the global hyperbaric oxygen therapy devices market are analyzed to understand the current market scenario and future outlook. Assessment of market drivers, challenges, and opportunities gives the readers an insight into the major market aspects. This report also includes a collection of profiles of major players operating in the global market for hyperbaric oxygen therapy devices. Some of these major market players are E.T.C. Biomedical Systems, Sechrist Industries, Inc., HyperTec, Inc., OxyHeal Health Group, Perry Baromedical Corporation, Haux-Life-Support GmbH, HYPERBARIC S.A.C., Hyperbaric Technology (HyTech) B.V., Sands Hyperbaric Corporation, S.O.S. Medical Group Ltd., Hearmec Co., Ltd., and Fink Engineering Pty. Ltd.

Key questions are answered in this report.

  • Status of the global hyperbaric oxygen therapy devices market in the base year 2015
  • How will the global market for HBOT devices advance through the forecast period from 2016 to 2024?
  • What are the drivers and opportunities prevalent in the global HBOT device market?
  • How may the current market challenges restrict the market growth during the forecast period?
  • What are the key growth strategies implemented or undertaken by the major market players for augmenting or retaining their positions?
  • Which device types hold dominance in the global market, and which segment will challenge its dominance?
  • Which is the most prominent therapeutic use holding prominence in the global HBOT device market?
  • How will the Asia-Pacific market fare on the global front during the forecast period from 2016 to 2024?

Frequently Asked Question:

The market for Hyperbaric Oxygen Therapy Device Market is expected to reach USD$ 267.9 Mn in 2024.

The Hyperbaric Oxygen Therapy Devices Market is expected to see significant CAGR growth over the coming years, at 7.5%.

The report is forecasted from 2016 -2024.

The base year of this report is 2015.

ETC Biomedical Systems, Sechrist Industries, Inc., HyperTec, Inc., Oxy Heal Health Group .a re some of the major players in the global market.

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Published Date:  Mar 2019
Category:  Medical Devices
Report ID:   58103
Report Format:   PDF
Pages:   120
Rating:    4.3 (55)
Delivery Time: 24 Hours to 48 Hours   
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