Hyperbaric Oxygen Therapy Market

Hyperbaric Oxygen Therapy Market Research, 2031

The global hyperbaric oxygen therapy market was valued at $275.1 million in 2021, and is projected to reach $457.6 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031. Medical treatment known as hyperbaric medicine requires a pressure environment greater than the atmospheric pressure at sea level. During hyperbaric oxygen therapy (HBOT), which is performed at a high atmospheric pressure, 100% oxygen is breathed in. It is used to treat gangrene, decompression sickness, infections, carbon monoxide poisoning, difficult wounds, diabetic foot ulcers, and others. In a hyperbaric oxygen chamber, air is compressed about 2.5 times more than it would normally be.

The COVID-19 outbreak is expected to negatively affect the expansion of the global market for hyperbaric oxygen therapy treatments. However, throughout the epidemic, despite the recommendations to maintain social distance, many individuals treated their illnesses via self-medication or other unconventional methods. During lockdown adventure activities were stopped due to which market growth was hindered. Many people suffering diabetic foot ulcer treat themselves at home due to fear getting infected by COVID-19 in the hospitals.

The market for hyperbaric oxygen therapy is expanding swiftly as technology progresses. Every area of the economy is changing as a result of new technologies. As a result of ongoing technological development, a number of disorders can now be treated using hyperbaric oxygen therapy. The USFDA has given hyperbaric oxygen therapy treatment (HBOT) approval for the application of non-healing lesions, including diabetic foot ulcers. Breathing in almost pure oxygen and entering a pressured atmosphere. fastens healing by increasing the oxygen content of the blood and, this speeds up healing In contrast, a rise in healthcare costs and an increase in the burden of diabetes present a tremendous investment potential for major actors, particularly in developing nations driving the hyperbaric oxygen therapy market forecast. Technological advancement in hyperbaric oxygen therapy devices propels market growth. Every area of the economy is changing as a result of new technologies. As a result of ongoing technological improvements, numerous disorders can now be treated with hyperbaric oxygen therapy. Thus, developing technologies are expected to be opportunistic for the key players to broaden the accessibility of their products, thereby driving the market growth.

Decompression sickness is brought on by adventurous activities like scuba diving or deep-sea diving and is effectively treated with hyperbaric oxygen therapy. Adventure activities have increased significantly over the past few decades, which is expected to fuel market expansion. In addition, the global rise in the diabetic population fuels the hyperbaric oxygen therapy market opportunity. Hyperbaric oxygen therapy can help cure diabetic foot ulcers and wounds more effectively Conversely, reimbursement for oxygen therapy is a tough challenge and complication associated post hyperbaric oxygen therapy is expected to hinder the hyperbaric oxygen therapy market growth.

Impact of COVID-19
The COVID-19 outbreak is expected to negatively affect the expansion of the global market for hyperbaric oxygen therapy treatments. However, throughout the epidemic, despite the recommendations to maintain social distance, many individuals treated their illnesses via self-medication or other unconventional methods. During lockdown adventure activities were stopped due to which market growth was hindered. Many people suffering from diabetic foot ulcers treat themselves at home due to fear of getting infected by COVID-19 in hospitals. 

Hyperbaric Oxygen Treatment Market Segmentation

The hyperbaric oxygen treatment market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is categorized into monoplace chambers, multiplace chamber, and others. By application, it is divided into wound healing, decompression sickness, and others. The wound healing segment is further bifurcated into chronic wounds and acute wounds. By end user, it is segmented into hospitals, home care and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).

Segment Review
By type, the market is segmented into monoplace chambers, multiplace chambers and others. The monoplace chambers segment generated maximum revenue in 2021, and also witnessed highest CAGR during the forecast period, as monoplace chambers are more comfortable and less confining than multiplace chambers.

By application, the market is divided into decompression sickness, wound healing and others. The wound healing segment dominated the hyperbaric oxygen therapy market size in 2021, and expected to witness highest CAGR during the forecast period owing to increase in incidence of wounds and effective treatment for chronic wounds & diabetic foot ulcers.

By end user, the HBOT market is divided into hospitals, home care and others. The others segment dominated the hyperbaric oxygen therapy market size in 2021, owing to increase in demand standalone hyperbaric oxygen therapy centers and increase in usage of hyperbaric oxygen chambers in clinics. The home care segment is expected to witness highest CAGR of during the forecast period owing to increase in demand for personalized health care.

North America accounted for a majority of the global hyperbaric oxygen therapy market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in hyperbaric oxygen therapy treatment techniques, integration of advanced devices and software processes in hyperbaric oxygen therapy, presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing rise in the diabetic population, development of healthcare infrastructure, and increase in investment projects in the region.

The major players profiled in the hyperbaric oxygen therapy industry report are Environmental Tectonics Corporation, Fink Engineering Pty Ltd, Gulf Coast Hyperbarics Inc., GWR Medical Inc, Haux-Life-Support GmbH, HearMec Co, Hipertech Electronics Inc, Hyperbaric Modular Systems, Inc, Hyperbaric SAC, OxyHealth Llc, Pan-America Hyperbarics Inc, Perry Baromedical Corporation, Richmond Hyperbaric Health Centre Inc, Royal IHC, Sechrist Industries, Inc., Tekna Hyperbaric Chambers, Unique Group FZC.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hyperbaric oxygen therapy market analysis from 2021 to 2031 to identify the prevailing hyperbaric oxygen therapy market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the hyperbaric oxygen therapy market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global hyperbaric oxygen therapy market trends, key players, market segments, application areas, and market growth strategies.

 Hyperbaric Oxygen Therapy Market Report Highlights