Topical Oxygen Therapy Market By Application (Chronic Wounds, Acute Wounds), By End User (Hospitals, Clinics, Home Care, Post Acute Care Settings): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global topical oxygen therapy market was valued at $ 19,889.74 thousand in 2021, and is projected to reach $ 27,721.76 thousand by 2031, registering a CAGR of 3.4% from 2022 to 2031.
Topical oxygen therapy (TOT) is the administration of oxygen applied topically over injured tissue by either continuous diffusion or pressurized systems. There are dressings, gels, hemoglobin sprays, mechanical devices specifically indicated for topical oxygen therapy. Since oxygen is applied directly to the wound site and there is no additional inspiration of oxygen, there are no fatal effects in comparison to HBOT. Topical oxygen therapy is U.S. FDA approved for diabetic ulcers, venous insufficiency, postsurgical infections, gangrenous lesions, pressure ulcers, skin grafts, burns, frostbite, and amputations. It is applied in the comfort of a patient’s home and consists of a sterile, single-use, disposable, gas-impermeable chamber with adhesive edges applied as a boot or bag administered around the affected extremity or wound. The advantage of this system is that it costs low and does not involve systemic oxygen, which can place a patient at risk for oxygen toxicity.
The major factors that drive the growth of the global topical oxygen therapy market include growth in incidence of chronic wounds, increase in patient pool of diabetics, and high incidence of wound site infections. In addition, surge in number of surgical procedures and technological advancement in advanced wound care products further propel the market growth. However, lack of awareness in developing countries is likely to restrain the growth of the topical oxygen therapy market during the forecast period. Conversely, evolution of wound management products and great number of initiatives undertaken by governments and healthcare organizations to increase awareness about wound care devices are anticipated to provide lucrative opportunities to the market players.
The topical oxygen therapy market is segmented into application, end user and region. According to application, the market is categorized into chronic wound and acute wound. By end user, it is segregated into hospitals, clinics, homecare, and post-acute care settings. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include the AOTI, Inc., Inotec AMD Ltd., GWR Inc., OxyBand Technologies, EO2 Concepts, Mölnlycke Health Care AB, OGENIX and RashEndZ Inc.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global topical oxygen therapy market and the current trends and future estimations to elucidate the imminent investment pockets.
It presents a quantitative analysis of the market from 2021 to 2031 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on application assists to understand the trends in the industry.
Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Key Market Segments
By Application
Chronic Wounds
Acute Wounds
By End User
Hospitals
Clinics
Home Care
Post Acute Care Settings
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
INOTEC AMD LTD.
GWR INC.
AOTI, INC.
OXYBAND TECHNOLOGIES
EO2 CONCEPTS
MöLNLYCKE HEALTH CARE AB
OGENIX
RASHENDZ INC.
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