Dublin, June 17, 2021 (GLOBE NEWSWIRE) -- The "Topical Oxygen Therapy Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering
Topical oxygen therapy market is anticipated to grow at a CAGR of 3.5% during the forecast period from 2021 to 2029.
This detailed study offers the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each segment is calculated for the forecast period from 2021 to 2029.
Factors driving this market include growing incidence of chronic wounds, increasing patient pool of diabetics, and high incidence of wound site infections. Some of the major trends responsible for market growth are increased number of surgical procedures, and technological advancement in advanced wound care.
Additionally, evolution of advanced wound management products, introduction of products at subsidized prices and greater number of initiatives undertaken by governments and healthcare organizations will open new opportunities for topical oxygen therapy market.
Increasing Diabetic Patients Demand High Wound care Therapies
Chronic wounds especially found in diabetic patients are a serious problem to health of human beings. Increasing cases of chronic wounds mainly found in geriatric population who are suffering from diabetes is one of the major problems. Devices for oxygen therapy are evolved significantly during the period and this are proved essential for the wounds caused with diabetic foot ulcers and peripheral arterial occlusive disease (PAOD).
In 2017 federation of international diabetes has stated that, number of diabetes patients will increase from 425 million to 629 million by 2045. Consumption of unhealthy food, sedentary work, population surge and obesity are causing concern in terms of number of cases of diabetes patients and this are the critical factors for the growth of topical oxygen therapy market. In addition to that, increased number of incidences of wound site infections is also key driver for this market.
Growing Incidence of Chronic Wounds Worldwide Boosting the Growth of Topical Oxygen Therapy Market
Currently, single-use topical oxygen systems are the largest product type by value and estimated to retain its prominence, while single use adhesive patch systems expected to record highest CAGR throughout the forecast period from 2019 to 2029. These systems are easy to use and are easily be applied in various healthcare sites such as wound care clinics, home settings, hospitals and nursing homes.
These devices are easy to set up and being single use, prevents the occurrence of contamination. Reusable topical oxygen systems are a preferred choice among end users with lower cost requirements. However, these devices could increase risk of contamination thus accounting a considerable CAGR during the forecast period from 2019 to 2029.
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 wound for up to a duration of 5 days, contributing to the overall market growth of single use adhesive patch system segment.
Key players profiled in the report includes: AOTI, Inc., OxyCare GmbH, GWR Medical Inc., Inotec AMD Ltd., OxyBand Technologies, Inc., and SastoMed GmbH among others.
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
2.1. Global Topical Oxygen Therapy Market Portraiture
2.2. Global Topical Oxygen Therapy Market, by Product Type, 2020 (US$ Mn)
2.3. Global Topical Oxygen Therapy Market, by Application Type, 2020 (US$ Mn)
2.4. Global Topical Oxygen Therapy Market, by Geography, 2020 (US$ Mn)
Chapter 3. Global Topical Oxygen Therapy Market Overview, 2019-2029 (US$ Mn)
3.1. Overview
3.2. Market Drivers
3.3. Challenges
3.4. Opportunities
3.5. Attractive Investment Proposition, by Geography, 2020
3.6. Competitive Landscape, by key players, 2020
Chapter 4. Global Topical Oxygen Therapy Market, by Product Type, 2019 - 2029 (US$ Mn)
4.1. Overview
4.2. Single-Use Topical Oxygen System
4.3. Single-Use Adhesive Patch System
4.4. Reusable Topical Oxygen System
4.5. Transdermal Continuous Oxygen Therapy
Chapter 5. Global Topical Oxygen Therapy Market, by Application Type, 2019 - 2029 (US$ Mn)
5.1. Overview
5.2. Chronic Wounds
5.3. Acute Wounds
Chapter 6. Global Topical Oxygen Therapy Market, by Geography, 2019 - 2029 (US$ Mn)
6.1. Overview
Chapter 7. Company Profiles
7.1. AOTI, Inc.
7.2. OxyCare GmbH
7.3. GWR Medical, Inc.
7.4. Inotec AMD Ltd.
7.5. OxyBand Technologies, Inc.
7.6. SastoMed GmbH
For more information about this report visit https://www.researchandmarkets.com/r/mfcxhx