(PharmaNewsWire.Com, September 22, 2021 ) Hyperbaric Oxygen Therapy Devices Market size is estimated to reach $4.2 billion by 2026, growing at a CAGR of 7.1% during the forecast period 2021-2026. Hyperbaric oxygen therapy devices (HBOT) are the devices in which patients enter and breathe high concentrations of oxygen in a pressurized environment. These devices utilize chambers to provide oxygen to all tissues by pressurizing the patient to a greater than one atmosphere. Hyperbaric oxygen therapy devices are generally used in the treatment of wound healing and infection treatment. The rise in the demand for multiplace HBOT devices for decompression sickness, growing adoption of monoplace HBOT devices for wound healing, increase in the incidences of gas embolism and carbon monoxide poisoning, and growing investment by the key players to develop advanced hyperbaric oxygen therapy devices are the factors that are set to drive the growth of the Hyperbaric Oxygen Therapy Devices Market for the period 2021-2026.
Hyperbaric Oxygen Therapy Devices Market Segment Analysis-By Product Type
The Hyperbaric Oxygen Therapy Devices Market based on the Product Type can be further segmented into Monoplace HBOT Devices, Multiplace HBOT Devices, and Topical HBOT Devices. The Monoplace HBOT Devices segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 7.6% over the period 2021-2026. This growth is owing to the factors such as the increase in the commercial availability of monoplace systems and the growing demand for monoplace HBOT devices for ease of handling and also less requirement of hospital gas supply. The rise in the adoption of monoplace HBOT devices for wound healing is driving the growth of the Hyperbaric Oxygen Therapy Devices Market. The Multiplace HBOT Devices segment held the second largest share in 2020 owing to the factors such as the growing adoption of Multiplace HBOT Devices for decompression sickness and the rise in the requirement of treating large number of patients in one cycle.
The Hyperbaric Oxygen Therapy Devices Market based on the Application can be further segmented into Wound Healing, Decompression Sickness, Infection Treatment, Gas Embolism, and Others. The Wound Healing segment held the largest share in 2020 owing to the factors such as the increase in the prevalence of chronic & acute wounds and wound site infections and rise in the investment by the key players to develop advanced hyperbaric oxygen therapy devices for wound healing in hospitals. The rise in the adoption of monoplace HBOT devices for wound healing is driving the growth of the Hyperbaric Oxygen Therapy Devices Market. The Decompression Sickness segment is estimated to be the fastest growing segment with a CAGR of 7.3% over the period 2021-2026. This growth is owing to the factors such as the rise in the adoption of multiplace HBOT devices for decompression sickness and growing awareness among the patients about the availability of devices for decompression sickness.
The Hyperbaric Oxygen Therapy Devices Market based on the Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 35.1% of the overall market in 2020. The growth in this segment is owing to the factors such as the growing adoption of monoplace HBOT devices for wound healing and an increase in product launches by key players. The increasing demand for multiplace HBOT devices for decompression sickness is driving the growth of the Hyperbaric Oxygen Therapy Devices Market. Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in the prevalence of gas embolism and carbon monoxide poisoning and growing investment by the key players to develop advanced hyperbaric oxygen therapy devices.
Rise in the Adoption of Monoplace HBOT Devices for Wound Healing
Monoplace HBOT Devices are increasingly being adopted for wound healing owing to their portability, user-friendly operability, and low maintenance costs. The entire chamber is pressurized in these devices and filled with 100% oxygen without the need for a hood, which is one of the major factors driving the growth of the Hyperbaric Oxygen Therapy Devices Market.
Increase in the Demand for HBOT Devices for Carbon Monoxide Poisoning Treatment
The rise in the incidences of carbon monoxide poisoning has propelled the demand for HBOT Devices owing to their ability to increase the amount of oxygen dissolved in the serum to 6.8%, which is required to sustain cerebral metabolism. The key players in developed nations are focusing on developing advanced for the treatment of multiplace HBOT devices, which is further propelling the growth of the Hyperbaric Oxygen Therapy Devices Market.
The key players in the market are collaborating with other players to carry out various research and development activities for launching advanced hyperbaric oxygen therapy devices for the treatment of gas embolism. However, the high cost of hyperbaric oxygen therapy devices is one of the major factors that is estimated to reduce the growth of the Hyperbaric Oxygen Therapy Devices Market.
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Hyperbaric Oxygen Therapy Devices Market. Key companies of this market are ETC BioMedical Systems, Fink Engineering Pty Ltd, HAUX-LIFE-SUPPORT GmbH, Hyperbaric SAC, OxyHeal Health Group, Sechrist Industries Inc, AHA Hyperbarics GmbH, SOS Medical Group, Ltd, Hearmec Co Ltd, and Unique Group, among others.
Acquisitions/Product Launches:
In November 2019, AHA Hyperbarics GmbH has launched AHA Flex V2 hyperbaric system for medical indications, such as crush injuries, cerebrovascular insult (CVI), and diabetic foot ulcers. This device is made of two bags plus the grid and operates on a 2.0 bar.
In July 2019, Unique Group has launched an in-house designed multiplace hyperbaric oxygen treatment (HBOT) device to offer a new proposition in hyperbaric treatment to the healthcare market and for the treatment of infections and wounds.
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