As per Fact.MR, a market research and competitive intelligence provider, the hyperbaric oxygen therapy (HBOT) devices market was valued at US$ 4.02 Bn in 2021. At 1.5 to 3 times the average atmospheric pressure, hyperbaric oxygen therapy devices supply 100% pure oxygen to the bodily tissues. Excess oxygen in the circulation encourages 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. Hyperbaric oxygen therapy devices are used to treat chronic problem wounds by delivering oxygen to all body tissues through monoplace HBOT chambers, multiplace HBOT chambers or topical HBOT chambers.
Diabetes affects roughly 422 million people worldwide, according to World Health Organization figures. According to the report, 1.6 million people die each year as a result of diabetes-related disorders. Diabetes can lead to a variety of problems, including diabetic foot ulcers, ischemic strokes, and chronic infections. The market will grow as the number of people diagnosed with diabetes and obesity rises. Rising adoption of hyperbaric oxygen therapy equipment for lung disease treatment and prevention of reperfusion injury is driving the market growth over the forecast period. As healthcare personnel transition to hyperbaric oxygen therapy devices for healing soft tissue necrosis, the market is expected to develop significantly over the coming years. Demand for hyperbaric oxygen therapy devices is predicted to increase at a CAGR of 8.9% from 2021 to 2028.
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Key Segments Covered in Hyperbaric Oxygen Therapy Devices Industry Research
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Hyperbaric Oxygen Therapy Devices Market by Product:
- Monoplace HBOT Devices
- Multiplace HBOT Devices
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Hyperbaric Oxygen Therapy Devices Market by Application:
- Wound Healing
- Decompression Sickness
- Infection Treatment
- Gas Embolism
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Hyperbaric Oxygen Therapy Devices Market by Region:
- North America Hyperbaric Oxygen Therapy Devices Market
- Europe Hyperbaric Oxygen Therapy Devices Market
- Asia Pacific Hyperbaric Oxygen Therapy Devices Market
- Latin America Hyperbaric Oxygen Therapy Devices Market
- Middle East & Africa Hyperbaric Oxygen Therapy Devices Market
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COVID-19 Impact on Sales of Hyperbaric Oxygen Therapy Products
The COVID-19 pandemic significantly impacted the healthcare industry. The use of hyperbaric oxygen therapy devices as an alternate treatment for COVID-19-related hypoxia has grown in favor. Rising acceptance as an emergency investigative device supported the industry growth during the pandemic. Increasing government and private studies demonstrating hyperbaric oxygen therapy’s high effectiveness in improving survival rates will boost market demand over the coming years.
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Competitive Landscape
Rising investments by key players in R&D and the development of hyperbaric oxygen therapy products will be vital to preserving a competitive edge, with regular alliances being formed in an attempt to diversify product portfolios and increase market share.
For instance,
- 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.
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