Pune, Jan. 13, 2023 (GLOBE NEWSWIRE) -- As per Maximize Market research, a global business research and consultancy firm, the total global market for “Hyperbaric Oxygen Therapy Market” was USD 3.5 Bn. in 2021 and is expected to grow at a CAGR of 8 % over the forecast period to reach USD 6.4 Bn. by 2029.
Hyperbaric Oxygen Therapy Market Scope and Research Methodology
Hyperbaric oxygen therapy involves breathing oxygen in pressurised chambers with three times the normal atmospheric pressure. To allow the lungs to absorb three times as much oxygen as they would at normal air pressure. The amount of oxygen is increased during hyperbaric oxygen therapy, which may enhance the function of essential tissues during wound and infection healing. The market for hyperbaric oxygen therapy (HBOT) devices is divided into three categories Application (Decompression Sickness, Diabetic Foot Ulcers, Gas Embolism, Infection Treatment, Wound Healing, and Other Applications), Product Type (Monoplace HBOT Devices, Multiplace HBOT Devices, and Topical HBOT Devices), and Regional (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America).
The market size in terms of value by various segments was validated using a bottom-up approach. Both primary and secondary data-gathering approaches were used to get the data. The primary methods were surveys, questionnaires, and conducting telephone interviews with experts in the field, market leaders, business owners, and marketers. To ensure that the inferences were as reliable as possible, secondary data was gathered from a variety of sources. Along with paid databases, this also includes the official websites of various organizations and the government, trade publications, annual reports, white papers, and releases from companies that produce and supply goods to the industry.
PESTLE was used to determine the potential influence of the micro-economic factors affecting the market for hyperbaric oxygen therapy while SWOT analysis was used to identify the market's strengths and weaknesses. As a result, the study offers a thorough assessment of the market for hyperbaric oxygen therapy.
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Hyperbaric Oxygen Therapy Market Overview.
When the environment is at high pressure, hyperbaric oxygen therapy (HBOT) provides the perfect amount of oxygen to the body's tissues. Air pressure is increased by two to three times during this medical treatment. As a result, the oxygen-carrying blood promotes mending, which helps the body fight off germs and other unwanted guests. Blood vessel air bubbles, radiation-related lesions, and various other serious infections including diabetes are all treated with this medical process.
There are 13 medical uses for hyperbaric oxygen therapy that have received FDA approval (HBOT). One of the key market factors influencing the significant growth of the hyperbaric oxygen therapy market is the regulatory approval for some indications, including pulmonary embolism, severe anemia decompression sickness, burns, and brain abscesses, to name a few of the thirteen approved indications. In addition, one of the major market barriers that are examined in the report with its direct, tangible effect on the revenue of key competitors is the inaccessibility of Hyperbaric Oxygen Therapy (HBOT) equipment in emerging markets.
Hyperbaric Oxygen Therapy Market Dynamics
The increasing number of diabetes patients globally is driving up demand for hyperbaric oxygen therapy market. As a result, the market will eventually trend upward. In addition, as medical tourism increases, the market is predicted to grow. The growth factors in the healthcare sector and the government's investment in them cannot be ignored given the rise in demand. Additionally, this method is now utilized to treat both cancer patients and others who have suffered brain injuries.
Due to the rising prevalence of diabetes, the market is predicted to grow faster than usual. On the other hand, increasing patient knowledge of HBOT may help the market grow. The rise in chronic wound instances may also fuel the market growth during the forecast period.
| Market Size in 2021 | USD 3.5 Bn. |
| Market Size in 2029 | USD 6.4 Bn. |
| CAGR | 8 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 185 |
| No. of Tables | 105 |
| No. of Charts and Figures | 103 |
| Segment Covered | Product, Application, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Hyperbaric Oxygen Therapy Market Regional Insights
In 2021, North America held the largest market share for hyperbaric oxygen therapy globally, and it is expected that it will continue to hold this position during the forecast period. It is due to the advanced hardware and software processes in hyperbaric oxygen therapy, as well as the presence of important and reliable medical infrastructure in the region. However, Asia-Pacific is expected to experience significant growth due to an increase in the number of diabetics, the growth of healthcare infrastructure, and an increase in investment projects in the region.
Hyperbaric Oxygen Therapy Market Segmentation
By Product
Monoplace, Multiplace, and Topical
By Application
Wound Healing, Decompression Sickness, Infection Treatment, Gas Embolism, and Others
Hyperbaric Oxygen Therapy Market Key Manufacturers include:
- Airox Technologies Limited
- Environmental Tectonics Corporation (ETO)
- Fink Engineering Pty Ltd
- Gulf Coast Hyperbarics Inc
- Haux-Life-Support GmbH
- HearMec Co
- Hipertech Electronics Inc.
- Hyperbaric Modular Systems, Inc
- Hyperbaric SAC
- PanAmerica Hyperbarics tnc
- Perry Baromedical Corporation
- Richmond Hyperbaric Health Centre Inc
- Royal IHC
- Sechrist Industries, Inc.
- SOS Group
- Tekna Hyperbaric Chambers
- Unique Group FZC
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Key questions answered in the Hyperbaric Oxygen Therapy Market are:
- What is Hyperbaric Oxygen Therapy?
- What is the growth rate of the Hyperbaric Oxygen Therapy Market for the next five years?
- What is the nature of competition in the Hyperbaric Oxygen Therapy construction industry in developed and developing economies?
- Who are the key players in the Hyperbaric Oxygen Therapy Market?
- Who are the market leaders in Hyperbaric Oxygen Therapy in Europe
- Who are the market leaders in Hyperbaric Oxygen Therapy in USA and Canada
- Who are the market leaders in Hyperbaric Oxygen Therapy in India, China, Japan, and South Korea?
- What are the factors affecting growth in Hyperbaric Oxygen Therapy Market?
- Who held the largest market share in Hyperbaric Oxygen Therapy Market?
- What are the factors for the growth of the Asia-Pacific region in the Hyperbaric Oxygen Therapy market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product, application, and region.
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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