Jersey City, New Jersey, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Hyperbaric Oxygen Therapy Market” By Product Type (Monoplace HBOT, Topical HBOT, and Multiplace HBOT), By Application (Wound Healing, Decompression Sickness, Gas Embolism), and By Geography. According to Verified Market Research, the Global Hyperbaric Oxygen Therapy Market size was valued at USD 2.95 Billion in 2020 and is projected to reach USD 4.79 Billion by 2028, growing at a CAGR of 6.24% from 2021 to 2028.
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Global Hyperbaric Oxygen Therapy Market Overview
The rise in demand for hyperbaric oxygen therapy is primarily due to increased stroke cases in obese and diabetic patients worldwide. With HBOT, the amount of oxygen in the patient's blood rises, supporting the growth of vessels, which is crucial for diabetes. This, in turn, increases the development of the hyperbaric oxygen therapy market. Some of the significant factors that cause diabetes include Overweight, obesity, physical inactivity, Insulin resistance, Genes, and family history.
Moreover, the rising incidence of gas embolism is a significant factor driving the market for global hyperbaric oxygen therapy. Gas embolism, the entry of gas into vascular structures, is a largely iatrogenic clinical problem resulting in severe morbidity and even death. Gas embolism can result from procedures performed in almost all clinical specialties, Decompression illness, Ventilator-induced pulmonary barotrauma, direct injection, and others.
However, few medical professionals are skeptical about the usage of HBOT in unapproved settings, which is expected to hinder global HBOT market growth. In addition, lack of awareness, high costs associated with the treatment, unfavorable reimbursement policies are expected to limit the market growth.
Key Developments in Hyperbaric Oxygen Therapy Market
• In July 2019, Unique Group introduced a multiplace hyperbaric oxygen therapy (HBOT) device to give the healthcare industry a novel hyperbaric treatment proposal and treat infections and wounds.
• In November 2019, AHA Hyperbarics GmbH introduced the AHA Flex V2 hyperbaric system at the MEDICA show in Germany. Crush injuries, cerebrovascular insult (CVI), and diabetic foot ulcers are therapeutic indications for the AHA Flex V2 hyperbaric system. This device, made up of two bags and a grid, runs on a 2.0 bar.
The major players in the market are Fink Engineering HEARMEC, HAUX-LIFE-SUPPORT, ETC Hyperbaric Chambers, Gulf Coast Hyperbarics, Inc., Hyperbaric SAC, OxyHeal International, Sechrist Industries, Inc., IHC Hytech B.V. (Royal IHC), and SOS Group Global Ltd.
Verified Market Research has segmented the Global Hyperbaric Oxygen Therapy Market On the basis of Product Type, Application, and Geography.
- Hyperbaric Oxygen Therapy Market, By Product Type
- Monoplace HBOT
- Topical HBOT
- Multiplace HBOT
- Hyperbaric Oxygen Therapy Market, By Application
- Wound Healing
- Decompression Sickness
- Gas Embolism
- Others
- Hyperbaric Oxygen Therapy Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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