Global HyperbaricOxygen Therapy (HBOT) Devices Market, by Product Type (Monoplace HBOTDevices, Multiplace HBOT Devices, and Topical HBOT Devices), by Application(Wound Healing, Decompression Sickness, Infection, Gas Embolism, and Others),by End User (Hospital & Clinics, Ambulatory Surgery Centers, and Others),and by Region (North America, Latin America, Europe, Asia Pacific, Middle East,and Africa), was valued at US$ 2255.3million in 2018, and is expected to exhibit a CAGR of 6.6% over the forecastperiod (2019-2027), as highlighted in a new report published by Coherent MarketInsights.
Rising number of diabetic footulcers is expected to drive demand for hyperbaric oxygen therapy devices whichis expected to augment the market growth over the forecast period. Forinstance, according to the National Center for Biotechnology Information, in2015, the incidence of diabetic foot ulcers (DFU) ranged from 4% to 10% among hospitalizedpatients in China.
Increasing expansion strategiesby market players is expected to drive the market growth over the forecastperiod. For instance, in May 2017, AHA Hyperbarics GmbH, announced the launchof its subsidiary AHA Hyperbarics Australia Pty Ltd, in Australia, in order toexpand the company’s business and product offerings.
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Browse 38 Market Data Tables and26 Figures spread through 173 Pages and in-depth TOC on ‘Hyperbaric OxygenTherapy Devices Market’- Global Forecast to 2027, Global Hyperbaric OxygenTherapy (HBOT) Devices Market, by Product Type (Monoplace HBOT Devices, MultiplaceHBOT Devices, Topical HBOT Devices), by Application (Wound Healing,Decompression Sickness, Infection, Gas Embolism and Others), by End User(Hospital & Clinics, Ambulatory Surgery Centers, and Others), and by Region(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
North America is expected to holda dominant position in the hyperbaric oxygen therapy devices market over theforecast period, owing to rising number of diabetic foot ulcers and non-healingwounds in the region. For instance, according to Centers for Disease Control& Prevention (CDC), in 2016, 23.6 million people suffered from diabetes,which is 7.8% of the total population in the U.S. One third of the diabeticpopulation in the U.S also suffered from lower extremity wounds.
Markets in Africa and Middle Eastare expected to witness growth in the hyperbaric oxygen therapy devices marketover the forecast period due to increasing strategic partnerships by marketplayers in the region to enhance their market presence. For instance, in June 2018,Sechrist Industries, Inc. announced the partnership with Dartmouth College'sGeisel School of Medicine to bring Hyperbaric Oxygen Therapy (HBOT) inTanzania, East Africa. The therapy will be used for treatment of chronic boneinfections, severe anemia, non-healing hypoxic wounds and other conditions.
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Also, market players areenhancing their market presence by opening new centers in the region. Forinstance, in September 2019, BioBarica, announced the launch of Buenos Aires,Argentina, in order to offer the hyperbaric oxygen therapy in the Argentinaregion.
Key Takeaways of the HyperbaricOxygen Therapy Devices Market:
The global hyperbaric oxygentherapy devices market is expected to exhibit a CAGR of 6.6% over the forecastperiod, owing to expansion strategies adopted by market players. For instance,in December 2019, BioBarica announced the launch of a new center located atSevilla, Spain, for offering hyperbaric oxygen therapy in the Europe.
Key players operating in theglobal hyperbaric oxygen therapy devices market are Fink Engineering Pty Ltd.,Gulf Coast Hyperbarics, Inc., SOS Medical Group Ltd., IHC Hytech B.V., ETCBioMedical Systems, Haux-Life-Support GmbH, Sechrist Industries, Inc., GWRMedical, Inc., Hyperbaric Modular Systems, Inc., Hearmec Co., Ltd., and PremierHyperbarics.
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