Global Hyperbaric Oxygen Therapy Devices Market is unlocking new growth opportunities at a CAGR of 6.5% by 2026
The Global Hyperbaric Oxygen Therapy Devices Market is expected to grow at a rate of 6.5% by 2026. Some of the key factors driving the global hyperbaric oxygen therapy devices market include the rising prevalence of acute and chronic infections, increasing adoption of HBOT in cosmetic procedures and wound healing, growing demand for HBOT in skin rejuvenation & treatment, and growing technological advancement.
Hyperbaric oxygen therapy is a non-invasive technique that is used to increase the rate of healing of damaged tissues. The air pressure is raised two to three times higher during this treatment than it would normally be. Therefore, the oxygen-carrying blood helps to fight bacteria and other unwanted hosts in the body by promoting healing. HBOT is used to treat wounds as a result of radiation, air bubbles in blood vessels, and many other serious infections like diabetes, venous or arterial insufficiency, crush injuries, and wounds/tissue damage caused by the late effects of radiation therapy.
HBOT now utilizes two different kinds of chambers:
- Monoplace chamber: This chamber is built for one person. It’s a long, plastic tube that resembles an MRI machine. The patient slips into the chamber. It is slowly pressurized with 100% oxygen
- Multiplace chamber: This chamber, or room, can fit two or more people at once. The treatment is largely the same. The difference is that people breathe pure oxygen through masks or hoods
Technological Advancements, Wide Application horizon & Awareness Campaigns Drive the Hyperbaric Oxygen Therapy Devices Market
The initial purpose of HBOT devices was to treat decompression sickness and other diving-related problems. Nowadays, due to developments in technologies HBOT treats a wide range of conditions such as cosmetic procedures, wound healing, Alzheimer’s disease, gas embolism, radiation tissue damage (ORN), and refractory osteomyelitis, including life-threatening emergencies.
Numerous advancements have recently been made to enhance patients’ quality of life, including:
- In May 2021, CūtisCare, a leader in wound care and hyperbaric management, launched the Hyperbaric Aware website and a national campaign to elevate awareness of hyperbaric oxygen therapy
- In November 2019, AHA Hyperbarics introduced the AHA Flex V2, a new model of innovative high-pressure medical hyperbaric chambers that are specifically built to meet the growing need for HBOT safety and efficacy
“New product launches and innovations in HBOT technologies like portable HBOT devices will open up a new frontier for the market to grow in the future. Technology has a key role to play.” – Vice President, Product & Innovation Department, HBOT Devices Company, United States
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Medical Benefits of HBOT Devices Fuels the Hyperbaric Oxygen Therapy Devices Market Demand
HBOT devices speed up the healing process by delivering extra oxygen to injured areas. This excess oxygen in the circulation boosts the production of white blood cells and leucocytes, which fight bacteria, as well as the secretion of stem cells, which aids in speedier healing and the restoration of normal body function.
The following are advantages of using these devices:
- Increased blood flow and circulation throughout the body
- Block harmful bacteria and strengthens the body’s immune system
- Aids in the formation of new collagen and skin cells
Key Challenges/ Constraints: Hyperbaric Oxygen Therapy Devices Market
Reimbursement issues, the high cost of HBOT treatment, which requires multiple sessions, and complications after HBOT are a few of the major factors that are anticipated to hamper its growth in the upcoming years.
North America Leads the Adoption of Hyperbaric Oxygen Therapy Devices Market
Geographically speaking, North America holds a major market share of the HBOT devices market. This can be mostly attributed to the increasing preference for wound healing treatments, rising number of people engaging in adventure activities, and favorable reimbursement policies in the region.
Competitive Landscape Analysis of Hyperbaric Oxygen Therapy Devices Market
Some of the key/promising players in the global hyperbaric oxygen therapy devices market include Perry Baromedical Inc., Haux-Life Support, PCCI, Fink Engineering, Sosgroup, Hearmec, OxyHealth, and Environmental Tectonics Corporation, among others.
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