, December 06, 2017 ) Hyperbaric oxygen therapy (HBOT) devices are used for delivering pure oxygen (100%) to tissues in the body under higher atmospheric pressure. Atmospheric pressure in hyperbaric oxygen chambers or devices is increased from one to three times higher than normal atmospheric pressure which in turns fight bacteria and also stimulates the release of a substance called growth factors and stem cells promoting healing.
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Development of the global hyperbaric oxygen therapy devices market is primarily driven by increasing prevalence of acute and chronic wounds and rising incidence of wound site infections. Moreover, raise in the demand for leisure adventure activities is anticipated to drive the growth of the global hyperbaric oxygen therapy devices market over the aforementioned forecast period.
However, the high cost of hyperbaric oxygen therapy devices and reimbursement coverage are factors restraining market growth; these could also obstruct further product development and overall demand for hyperbaric oxygen therapy devices.
The North America Hyperbaric Oxygen (HBO) Therapy Devices Market size was around USD 52.85 million in 2016. It is expected to grow at a CAGR of 7.1% to reach USD 74.47 million by 2021. It captures 35% of the global market.
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The North America Hyperbaric Oxygen (HBO) Therapy Devices Market Segmentation by product and application. By product the market is segmented into Monoplace HBOT Devices, Multiplace HBOT Devices, and Topical HBOT Devices. Monoplace HBOT devices is the market leader capturing over 76% of the total revenue in 2016. The commercial availability of Monoplace systems and increased adoption of such devices, owing to ease of handling and less requirement of hospital gas supply are few factors that are responsible for its revenue share in 2016. Furthermore, the Monoplace HBOT devices category is likely to witness the highest CAGR. The steadily rising demand for Monoplace systems in hospitals & clinics owing to its higher availability in the market is the key factor, which is likely to boost market growth. Multiplace hyperbaric chamber is growing with the highest CAGR. But still, the rising requirement of treating growing number of patients in one cycle has resulted in raised demand for such systems in large-scale hospitals, which is expected to drive the market over the aforementioned forecast period.
Additionally, these devices can accommodate huge number of patients with different conditions and also help in monitoring by medical staff for every patient’s signs and symptoms. Therefore, the overall cost of the services for patients is low in contrast to Monoplace devices, which also increases the adoption rate of such devices. The key Unique Selling Propositions (USPs) of Multiplace chambers is that they allow for extended patient treatment time. The growing awareness among the hospital professionals about the benefits of this system is expected to boost the market. By application the market is categorized into Wound Healing, Infection Treatment, Decompression Sickness, Gas Embolism, Others. By application, wound healing is the market leader because of the rising prevalence of chronic & acute wounds and wound site infection. The rising healthcare costs, increasing prevalence of obesity & diabetes, and growing aging population are some of the key factors that result in surging demand for treatment of chronic and acute wounds.
By geography the market is segmented into US and Canada. North America was the leading segment and accounted for around 32% of the total revenue in 2016. The U.S. was market leader in 2016 and is also expected to account for the largest revenue share over the aforementioned forecast period. According to the American Venous Forum, advanced venous diseases characterized by skin changes and leg ulceration affect over 2.5 million people annually in the U.S. The increasing prevalence of chronic & acute wounds and simultaneously growing treatment rate due to the presence of developed healthcare technology, growing healthcare expenditure by the government, and huge disposable income are some of the factors that are expected to boost the market over the coming years.
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Major players of HBOT devices market include Gulf Coast Hyperbarics, Inc.; Fink Engineering; ETC Hyperbaric Chambers (Environmental Tectonics Corporation); HAUX-LIFE-SUPPORT; HEARMEC; IHC Hytech B.V. (Royal IHC); Hyperbaric SAC; Sechrist Industries, Inc.; OxyHeal International; and SOS Group North America Ltd..
Hyperbaric Oxygen (HBO) Therapy Devices Market Segmentation:
• Monoplace HBOT Devices
• Multiplace HBOT Devices
• Topical HBOT Devices
• Y-o-Y Growth Analysis, By Product
• Market Attractiveness Analysis, By Product
• Market Share Analysis, By Product
• Wound Healing
• Decompression Sickness
• Infection Treatment
• Gas Embolism
• Y-o-Y Growth Analysis, By Application
• Market Attractiveness Analysis, By Application
• Market Share Analysis, By Application
The Scope of the report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of Product and Application along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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