Rockville , Aug. 29, 2023 (GLOBE NEWSWIRE) -- As per this detailed hyperbaric oxygen therapy devices market study by Fact.MR, a market research and competitive intelligence provider, worldwide sales of hyperbaric oxygen therapy devices are valued at US$ 3.5 billion in 2023 and estimated to reach US$ 7.2 billion by the end of 2033.
North America is expected to account for a leading share of the global market, which can be ascribed to the growing diabetic population and the demand for novel wound treatment solutions. The surging prevalence of chronic diseases, rising cases of trauma, and increasing investments in research are other factors projected to augment demand for hyperbaric oxygen therapy devices in the North American region. Canada and the United States are estimated to offer highly remunerative business scope for hyperbaric oxygen therapy device start-ups as well as established market players through 2033.
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Meanwhile, Asia Pacific and the European region are also projected to exhibit a bright demand outlook for hyperbaric oxygen therapy equipment owing to rising healthcare expenditure and supportive government initiatives to promote healthcare infrastructure development.
Key Segments of Hyperbaric Oxygen Therapy Devices Industry Research Report
| By Product | By Application | By Region |
| Monoplace HBOT Devices | Wound Healing | North America |
| Multiplace HBOT Devices | Decompression Sickness | Latin America |
| Topical HBOT Devices | Infection Treatment | Europe |
| Gas Embolism | APAC | |
| MEA |
Key Takeaways from Market Study
- The hyperbaric oxygen therapy devices market stands at a valuation of US$ 3.5 billion in 2023.
- Demand for hyperbaric oxygen therapy devices is projected to rise at a CAGR of 7.4% from 2023 to 2033.
- The market is forecasted to bring in revenue worth US$ 7.2 billion by 2033.
- Surging prevalence of diabetes, high demand for novel wound care, growing awareness and availability of hyperbaric oxygen therapy, and increasing investments in R&D are projected to be prime market drivers.
- Poor reimbursement policies, high costs of treatment, and increasing awareness regarding side effects and complications associated with hyperbaric oxygen therapy could impede market development.
- North America is estimated to maintain its position as a highly rewarding regional market throughout the forecast period.
- Sales of monoplace HBOT devices are set to increase at 7% CAGR from 2023 to 2033.
“Hyperbaric oxygen therapy device manufacturing companies should focus on improving their sales in developing economies by offering affordable products to improve their global market presence,” says a Fact.MR analyst
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 7.2 Billion |
| Growth Rate (2023-2033) | 7.4% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Key Companies Profiled in This Report
- Perry Baromedical
- HAUX-LIFE-SUPPORT
- Royal IHC
- SOS Group Global Ltd.
- OxyHealth
- PCCI Inc.
- Gulf Coast Hyperbarics Inc.
- IHC Hytech B.V.
Winning Strategy
Leading hyperbaric oxygen therapy device manufacturers should focus on creating affordable products to reduce the costs of overall treatment and make the treatment more accessible to the general population. Hyperbaric oxygen therapy device companies should launch awareness and educational initiatives to make people aware of the benefits of hyperbaric oxygen therapy.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global hyperbaric oxygen therapy devices market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product (monoplace HBOT devices, multiplace HBOT devices, topical HBOT devices) and application (wound healing, decompression sickness, infection treatment, gas embolism, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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