Topical Oxygen Therapy Market By Product (Single Use Topical Oxygen System, Single Use Adhesive Patch System, Reusable Topical Oxygen System, Transdermal Continuous Oxygen Therapy), By Application (Chronic Wounds, Acute Wounds) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

The topical oxygen therapy market is expected to reach US$ 280.1 million by 2026, at a CAGR of 3.5% from 2018 to 2026. Factors driving this market include the growing incidence of chronic wounds, the increasing patient pool of diabetics, and the high incidence of wound site infections. Some of the major trends responsible for market growth are the increased number of surgical procedures and technological advancements in advanced wound care. Additionally, the evolution of advanced wound management products, the introduction of products at subsidized prices, and a greater number of initiatives undertaken by governments and healthcare organizations will open new opportunities for the topical oxygen therapy market during the forecast period from 2018 to 2026. As per the International Diabetes Federation, in 2017, 425 million individuals had diabetes, which will rise to 629 million by 2045. Due to the rise in population, obesity, unhealthy diets, sedentary lifestyles, and aging, there is a growth in the prevalence of diabetes in terms of the number of cases, and this would act as a key driving force for the topical oxygen therapy market.

In 2017, North America clearly held the major share in the global topical oxygen therapy market, as key companies operating in this market are headquartered in this region. The incidence of chronic wounds is on the rise due to perpetual growth in the pool of the geriatric population and lifestyle-associated diseases such as obesity, diabetes, and late-onset side effects of radiation therapy. The increasing prevalence of chronic wounds such as diabetic foot ulcers and pressure ulcers, as well as the increased use of dressings in surgical procedures, will drive the market forward. Single-use topical oxygen systems by-products dominated the market in 2017 and will continue a similar trend during the forecast period from 2018 to 2026, while based on the application type, the chronic wound segment dominated the market for topical oxygen therapy in 2017.

The United States is the leading market in North America, and Asia Pacific is the fastest-growing market owing to the emerging economy, growing healthcare facilities, and vast patient pool. Chronic and non-healing wounds also place a significant financial burden on society, both financially and in terms of productivity. The risk of microbial contamination is high in chronic disease patients and geriatric patients after surgeries due to a slower healing process and low immunity. This factor will surge the demand for topical oxygen therapy, and hence it will drive the market during the forecast period from 2018 to 2026.

Market Portraiture

The Global Rise in the Incidence of Chronic Wounds: Boosting the Growth of the Topical Oxygen Therapy Market

Currently, single-use topical oxygen systems are the largest product type by value and are estimated to retain their prominence, while single-use adhesive patch systems are expected to record the highest CAGR throughout the forecast period from 2018 to 2026. These systems are easy to use and can be easily applied in various healthcare settings, such as wound care clinics, home settings, hospitals, and nursing homes. These devices are easy to set up and being single-use, they prevent the occurrence of contamination. Reusable topical oxygen systems are a popular choice among end users with limited budgets. However, these devices could increase the risk of contamination, thus accounting for a considerable CAGR during the forecast period from 2018 to 2026. These factors primarily drive the growth of this segment. This system finds wide application in closing chronic wounds such as diabetic, venous, and pressure ulcers. These systems are beneficial in treating post-surgical infections, diseased wounds, infected residual limbs, frostbite, amputations, and burns. OxyBand Technologies, Inc.’s product, OxyBand wound dressing, is the only FDA-approved wound dressing product that provides pure oxygen to wounds for up to a duration of 5 days, contributing to the overall market growth of the single-use adhesive patch system segment.

Periods of History and Forecast

This detailed study offers an analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each segment is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The topical oxygen therapy market study provides current market dynamics as well as a quantitative analysis of the global market. The report explains the detailed outline of the global topical oxygen therapy market by classifying the market in terms of product type, application type, and geography. The objective of publishing this widespread research report is to support healthcare professionals and market investors in making better conclusions and strategic initiatives in the topical oxygen therapy market.

This detailed study further defines the major qualitative market assessment factors, including the main market driver, market trends, and restraints, to help in a better understanding of the global topical oxygen therapy market. Each market valuation factor comprising challenges, market drivers, and opportunities is widely elucidated considering the existing market scenario. This report graphically maps the market players based on their market initiatives, product offerings, strategies, and business strengths. Moreover, the report provides an attractive investment proposition based on extensive geographical research. Key players profiled in the report include AOTI, Inc., OxyCare GmbH, GWR Medical Inc., Inotec AMD Ltd., OxyBand Technologies, Inc., and SastoMed GmbH, among others.

Frequently Asked Questions:

The market for Topical Oxygen Therapy Market is expected to reach US$ 280.1 Mn by 2026.

The Topical Oxygen Therapy Market is expected to see significant CAGR growth over the coming years, at 3.5%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

AOTI, Inc., OxyCare GmbH, GWR Medical Inc., Inotec AMD Ltd., OxyBand Technologies, Inc., and SastoMed GmbH, are some of the major players in the global market.

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Published Date:  May 2018
Category:  Medical Devices
Report ID:   59173
Report Format:   PDF
Pages:   120
Rating:    4.5 (65)
Delivery Time: 24 Hours to 48 Hours   
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