Pune, India, April 05, 2023 (GLOBE NEWSWIRE) -- The global Hyperbaric Oxygen Therapy (HBOT) Market size is projected to experience dynamic growth in the forthcoming years. Rise in prevalence of chronic diseases worldwide is propelling the growth, finds Fortune Business Insights™ in its report, titled “Hyperbaric Oxygen Therapy Market, 2023-2030”. This report includes expert opinion and information from trusted sources and focusses on analyzing major factors driving and restricting the growth of the market during the forecast period.
As per the report, in terms of product, the mono oxygen chambers segment is expected to show strong growth. In addition, the relative ease provided by mono oxygen chambers and other advantageous features they offer are further anticipated to help this segment remain dominant through the forecast period.
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Key Industry Developments
New medical research conducted at the LSU Health New Orleans School of Medicine indicates that the procedure can be beneficial for the patients of Alzheimer’s, when conducted with other therapies or by itself.
Perry Baromedical and Kent Imaging Inc., entered a strategic partnership in the field of hyperbarics, where in Perry Baromedical will distribute Kent’s product offering of KD203, a near infrared imaging device
Report Scope
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historical Data | 2019 to 2021 |
Key Takeaways:
- Hyperbaric Oxygen Therapy is a well-established treatment for a variety of illnesses such as decompression sickness, serious infection, diabetic injuries, radiation injuries
- The global Hyperbaric Oxygen Therapy market is expected to register significant growth due to the technological advancements.
- The Food and Drug Administration (FDA) has approved 13 medical uses of the hyperbaric oxygen therapy (HBOT).
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Low Treatment Cost of HBOT in Developing Nations Promotes Medical Tourism
The global hyperbaric oxygen therapy market is driven by the increasing prevalence of chronic and acute wounds and rising cases of post-surgical infections. The rising prevalence of chronic and acute diseases resulting in serious ailments is also helping the market gain traction. Besides this, of the market is expected to gain from increasing medical tourism. Additionally, the rise in adoption of technologically advanced medical products, tools, and drugs is helping the market gain traction at a rapid pace worldwide.
On the other hand, certain factors may pose a threat to the growth of the hyperbaric oxygen therapy market such as lack of awareness about these systems, and high cost of installation. Additionally, the lack of HBOT devices in developing nations may hinder the hyperbaric oxygen therapy market growth in the long run.
Increasing Investments in Expansion of Healthcare Infrastructure in Developing Nations to Help Asia Pacific Emerge as a Lucrative Market
Geographically, North America currently holds a major percentage of the overall hyperbaric oxygen therapy market share. Growth witnessed in North America is attributable to the high investment made in the region’s healthcare and medical infrastructure. Governments in North America strive to provide advanced health facilities to their citizens. This, coupled with recent regulatory approvals and quick adoption of technologically advanced medical procedures, is helping the hyperbaric oxygen therapy market in grow at an accelerated pace in North America.
On the other side, the Asia Pacific market holds huge growth potential because of the increasing popularity of the HBOT especially in the developing nations such as China and India. In addition, the research and development on hyperbaric oxygen therapy are boosting Asia Pacific market. The rise in adoption of HBOT systems in this region, coupled with, the rise in emphasis of treating diseases such as decompression sickness will help the market in Asia Pacific register rapid growth in the coming years.
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List of Key Players Covered in the Hyperbaric Oxygen Therapy Market Report:
- Sechrist Industries, Inc.
- Perry Baromedical
- Environmental Tectonics Corporation
- Fink Engineering
- OxyHealth
- Gulf Coast Hyperbarics Inc.
- Hearmec Co. Ltd
- IHC Hytech BV
- SOS Medical Group Ltd
- Hyperbaric SAC
Market Segmentation:
By Product
- Monoplace oxygen chambers
- Multiplace oxygen chamber
- Topical oxygen chambers
- Portable oxygen chambers
By Application
- Decompression Sickness
- Wound Healing
- Infectious diseases
- Gas Embolism
- Carbon monoxide poisoning
- Others
By End Users
- Hospitals
- Ambulatory care centers
- Outpatient clinics
- Standalone hyperbaric treatment centers
- Others
By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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