Hyperbaric Oxygen Therapy Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : May 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Hyperbaric Oxygen Therapy Devices market size is expected to be worth around US$ 5.3 billion by 2030, according to a new report by Vision Research Reports.

The global Hyperbaric Oxygen Therapy Devices market size was valued at US$ 2.89 billion in 2020.

Growth Factors

 Growing acceptance of this technology globally is one of the key factors expected to boost the market during the forecast period.

The growing investment by private players such as OxyHealth and SOS Group Global Ltd. to develop technologically advanced HBOT systems is also among the few factors anticipated to propel growth. The development of portable HBOT systems and growing number of that are sponsored by various universities & players indicate ongoing advancement and are contributing to growth of the market. The presence of technology assessment organizations, such as Cochrane Collaboration, Alberta Heritage Foundation for Medical Research, and Agency for Healthcare Research & Quality (AHRQ), that review evidence backing the use of hyperbaric oxygen for various conditions is also one of the factors indicating the ongoing R&D activities in this field. Technological advancement in the field of hyperbaric oxygen therapy devices is anticipated to drive the demand over the coming few years.

The growing usage of hyperbaric oxygen therapy in wound healing and cosmetic procedures is one of the factors anticipated to boost the demand over the coming few years. An increasing number of athletes resulting in surge in demand for this technology. However, the rift between FDA-approved uses and off-level uses is one of the factors that is impacting the growth negatively. Currently, the FDA has approved use of these devices for thirteen conditions, such as gas embolism, carbon monoxide poisoning, diabetic foot ulcers, decompression sickness, necrotizing infections, and wound healing.

Some of the other uses of this device that have not been cleared by the U.S. FDA are stroke, Parkinson's disease, multiple sclerosis, depression, Alzheimer's disease, AIDS/HIV, and others. Both approved and unapproved uses are extensive and include a similar number of physiological and neurological conditions. In spite of the abovementioned restraining factor, HBOT continues to witness a surge in its adoption rate in hospitals and clinics. Based on a research paper, nearly 90% (1,800 out of 2,000) hospitals and 71% (500 out of 700) clinics are now offering hyperbaric oxygen therapies, due to its noninvasive nature. This is expected to further impel the growth over the coming few years.

Report Highlights

Monoplace HBOT devices emerged as the leading product category and accounted for over 76% of the total revenue in 2020. The commercial availability of monoplace systems and the high adoption of such devices, due to ease of handling and less requirement of hospital gas supply are some of the key factors that can be accounted for its revenue share in 2016. The market is majorly dominated by few products such as BARA-MEDXD, BARA-MED, BARA-MED Select by ETC Hyperbaric Chambers (Environmental Tectonics Corporation); PAH-S1 Hyperbaric Chamber & PAH-S1-3800 Hyperbaric Chamber by Pan-America Hyperbarics, Inc.

Moreover, the monoplace HBOT devices segment is anticipated to exhibit the highest growth rate. The growing demand for monoplace systems in hospitals & clinics due to its higher availability in the market and ease in installation is also one of the pivotal factors, which is expected to further drive the market. The technological advancement related to monoplace systems such as portability and some other features such as user-friendly operability and low maintenance costs are a few of the factors that are expected to propel the HBOT Equipment market growth over the coming few years.

Some of the frequently used & commercially available multiplace systems include OxyHeal 5000 rectangular multiplace hyperbaric chamber, OxyHeal 4000 multiplace hyperbaric chamber, and decompression hyperbaric chamber. Multiplace hyperbaric chamber maintained its position as the second fastest growing segment. Multiplace systems are more expensive and require more workforce to maintain & operate. However, the growing requirement of treating higher number of patients in one cycle has resulted in increased demand for such systems in large-scale hospitals, which is anticipated to drive the hyperbaric oxygen therapy devices market over the forecast period.

In addition, these devices can accommodate huge number of patients with various conditions and also facilitate monitoring by medical staff for every patient’s signs and symptoms. Thus, the overall cost of the services for patients is low as compared to monoplace devices, which also raises the adoption rate of such devices. One of the key Unique Selling Propositions (USPs) of multiplace chambers is that they allow extended patient treatment time. The increasing awareness among the hospital professionals regarding the benefits of this system is anticipated to boost the HBOT Equipment market.

Within application segments, wound healing was the largest segment in 2020 owing to the growing global prevalence of chronic & acute wounds and wound site infection. In the U.S., chronic wounds affect approximately 6.5 million patients and they spend over USD 25.00 billion annually for the treatment of chronic wounds. 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. These factors can be accounted for majority of the revenue share held by the wound healing segment.

According to the estimates reported in the NCBI, about 1 to 2% of the total population of developed nations will experience a chronic wound in their lifetime. In emerging economies, the share is expected to be higher. Moreover, the rising threat of chronic wounds due to increasing prevalence of diabetes and obesity is also among some of the contributing factors.

The increasing popularity of adventure activities and leisure sports amongst majority of the global population is also responsible for driving the need for HBOT systems in wound healing applications. In addition, the commercially available products such as BARA-MEDXD, BARA-MED, BARA-MED Select, BARA-PRESS Software Control System, and PAH-S1 Hyperbaric Chamber are majorly used for wound healing and decompression sickness. The presence of such a huge product portfolio for the treatment of chronic wounds is also among few factors that can be accounted for the largest market share.

However, the others segment witnessed the highest growth rate with a CAGR of 8.2% from 2017 to 2025. The increasing number of clinical trials with hyperbaric oxygen therapy equipment for conditions such as periodontitis, diabetes mellitus, aging, hypoxic-ischemic encephalopathy, and diabetic foot ulcer outcome is one of the key determinants that indicates the lucrative growth of the other segment. Some of the sponsors of these clinical trials are Loma Linda University and Nanfang Hospital of Southern Medical University.

North America was the leading segment and accounted for around 32% of the total revenue in 2020. Emerging economies such as India, China, Philippines, Vietnam, and Brazil have been experiencing strong economic growth. Increasing population and rising need for wound healing treatment have spurred the demand for HBOT in the region. Growing disposable income has triggered consumers to avail of technologically advanced medical treatment and therapies.

The U.S. was the leading market in 2020 and is also anticipated to hold largest revenue share over the 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 is some of the factors that are expected to boost the market over the coming years.

Key Players

Fink Engineering; ETC Hyperbaric Chambers (Environmental Tectonics Corporation); HAUX-LIFE-SUPPORT; Gulf Coast Hyperbarics, Inc.; HEARMEC; IHC Hytech B.V. (Royal IHC); Hyperbaric SAC; Sechrist Industries, Inc.; OxyHeal International; and SOS Group Global Ltd.

Market Segmentation

  • Product Outlook

    • Monoplace HBOT Devices

    • Multiplace HBOT Devices

    • Topical HBOT Devices

  • Application Outlook

    • Wound Healing

    • Decompression Sickness

    • Infection Treatment

    • Gas Embolism

    • Others

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

The Hyperbaric Oxygen Therapy Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Hyperbaric Oxygen Theray Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Hyperbaric Oxygen Therapy Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hyperbaric Oxygen Therapy Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hyperbaric Oxygen Therapy Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Hyperbaric Oxygen Therapy Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Hyperbaric Oxygen Therapy Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hyperbaric Oxygen Therapy Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hyperbaric Oxygen Therapy Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hyperbaric Oxygen Therapy Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Hyperbaric Oxygen Therapy Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Hyperbaric Oxygen Therapy Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hyperbaric Oxygen Therapy Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hyperbaric Oxygen Therapy Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hyperbaric Oxygen Therapy Devices market. These factors have benefited the growth of the global market for Hyperbaric Oxygen Therapy Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hyperbaric Oxygen Therapy Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Hyperbaric Oxygen Therapy Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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