Global Hyperbaric Oxygen Therapy Devices Market Size, Share & Industry Trends Analysis Report By Application (Wound Healing, Decompression Sickness, Infection Treatment, Gas Embolism, and Others), By Product, By Regional Outlook and Forecast, 2023 - 2030
The Global Hyperbaric Oxygen Therapy Devices Market size is expected to reach $4.7 billion by 2030, rising at a market growth of 5.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,13,114 units, experiencing a growth of 4.9% (2019-2022).
HBOT can be used as an adjunctive treatment for certain infections, particularly those caused by anaerobic bacteria or those that benefit from increased oxygen levels to enhance the body's natural defense mechanisms. Consequently, the infection treatment segment experienced $351.9 million revenue in the market in 2022. Anaerobic bacteria are microorganisms that thrive in low-oxygen environments. HBOT exposes the body to high oxygen concentrations, creating an oxygen-rich environment inhospitable to many anaerobic pathogens. This inhibits the growth and replication of these bacteria. HBOT is administered in specialized hyperbaric chambers under the supervision of trained medical personnel. Some of the factors impacting the market are growing demand for next generation multiplace chambers, rising prevalence of chronic diseases and side effects and complications associated with HBOT.
Next generation multiplace chambers are designed with a focus on patient comfort. They often offer more spacious interiors with better seating arrangements, lighting, and entertainment options. Enhanced comfort can encourage patients to undergo longer and more effective HBOT sessions. Multiplace chambers can accommodate multiple patients simultaneously, making them a more cost-effective and efficient option for healthcare facilities. This increased capacity can reduce waiting times for patients and improve accessibility to HBOT therapy. The rising number of chronic diseases has significantly driven the hyperbaric oxygen therapy devices market growth. Chronic diseases are long-term medical conditions that often require ongoing treatment and care. HBOT has proven effective in managing and treating various chronic diseases and associated complications, increasing adoption. Diabetes is an ordinary chronic disease that can lead to difficulties such as diabetic foot ulcers. HBOT is a recognized treatment for diabetic foot ulcers, as it promotes wound healing and reduces the risk of amputation. Therefore, as healthcare providers and patients recognize the advantages of HBOT in managing and improving the quality of life for those with chronic diseases, the market for hyperbaric oxygen therapy devices is expected to continue to rise.
However, Barotrauma refers to wounds caused by changes in pressure. During HBOT, changes in pressure can affect the ears, sinuses, and lungs. Patients may experience ear pain, sinus congestion, or lung injuries. In order to mitigate this risk, patients are carefully screened, and safety measures are put in place, but the potential for barotrauma can deter some individuals from seeking HBOT. Prolonged exposure to high oxygen levels can lead to oxygen toxicity, which can cause lung and central nervous system problems. HBOT sessions are carefully monitored to minimize the risk of oxygen toxicity. In some circumstances, health insurance may not cover HBOT, making it less accessible to patients who cannot afford the out-of-pocket costs. Misinformation or misconceptions about HBOT and its risks can deter potential patients. The abovementioned aspects will hamper the market growth.
COVID-19 had a negative impact on the hyperbaric oxygen therapy devices market. Like many other industries, the manufacturing and supply chain for medical devices, including HBOT devices, were disrupted during the early stages of the pandemic. Lockdowns, restrictions on movement, and supply chain interruptions affected the production and distribution of these devices. This led to a temporary decline in the use of HBOT devices for conditions that were not considered immediately life-threatening. Clinical trials and studies exploring the efficacy of HBOT in treating COVID-19-related complications were initiated. However, the market witnessed a speedy recovery after the pandemic and will expand significantly in the coming years.
Application Outlook
Based on application, the market is fragmented into wound healing, decompression sickness, infection treatment, gas embolism, and others. The decompression sickness segment garnered a significant revenue share in the market in 2022. HBOT is a highly effective treatment for decompression sickness (DCS), also known as "the bends." DCS occurs when a scuba diver or underwater worker ascends too quickly from a high-pressure environment (such as underwater) to a lower-pressure environment (the surface). This rapid change in pressure can cause nitrogen bubbles in the body's tissues and bloodstream, leading to various symptoms, including joint pain, chest pain, breathing difficulties, and neurological symptoms.
Product Outlook
On the basis of product, the market is segmented into monoplace, multiplace, and topical. In 2022, the monoplace segment dominated the market with the maximum revenue share. The substantial adoption rate and commercial accessibility of monoplace systems, due to their user-friendliness and minimal need for hospital gas supply, are significant contributors to its larger market share. The most popular hyperbaric chambers are BARA-MED, BARA-MEDXD, and BARA-MED Select by ETC; PAH-S1-3800 Hyperbaric Chamber and PAH-S1 Hyperbaric Chamber by Pan-America Hyperbarics, Inc.
Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region registered the highest revenue share in the market. The region's growing population has fueled the region's demand for hyperbaric oxygen therapy and the need for wound recovery treatment. Consumers' increasing disposable income has prompted them to seek technologically advanced medical treatments and therapies. In February of 2023, the Maui Memorial Medical Center in the United States opened a wound care clinic with hyperbaric oxygen therapy, which provides a comprehensive approach to non-healing wounds.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fink Engineering Pty Ltd, Environmental Tectonics Corporation, HAUX-LIFE-SUPPORT GmbH, Gulf Coast Hyperbarics, Inc., HearMEC Co., Ltd., Hyperbaric SAC, Sechrist Industries, Inc, SOS Group GBR Ltd., Perry Baromedical Corporation and SMP Ltd.
Scope of the Study
Market Segments covered in the Report:
By Application (Volume, Unit, USD Million, 2019-30)
- Wound Healing
- Decompression Sickness
- Infection Treatment
- Gas Embolism
- Others
By Product (Volume, Unit, USD Million, 2019-30)
- Monoplace
- Multiplace
- Topical
By Geography (Volume, Unit, USD Million, 2019-30)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Fink Engineering Pty Ltd
- Environmental Tectonics Corporation
- HAUX-LIFE-SUPPORT GmbH
- Gulf Coast Hyperbarics, Inc.
- HearMEC Co., Ltd.
- Hyperbaric SAC
- Sechrist Industries, Inc
- SOS Group GBR Ltd
- Perry Baromedical Corporation
- SMP Ltd.
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