As per industry analysis on hyperbaric oxygen therapy devices by Fact.MR, a market research and competitive intelligence provider, the global market is anticipated to expand at a CAGR of 8.9% over the forecast period of 2021-2028, reaching US$ 7.3 Bn by the end of the same period.
Hyperbaric oxygen therapy (HBOT) boosts leukocyte efficiency, especially at the wound site, while minimizing the detrimental effects of carbon monoxide (CO) and cyanide. Advancements in portable HBOT devices, as well as increasing number of clinical trials supported by various institutions and players, demonstrate that the market is growing.
Technological advancements in hyperbaric oxygen treatment equipment are expected to boost demand. Surge in demand for hyperbaric oxygen therapy devices is primarily due to an increase in the number of diabetic patients around the world. Moreover, as medical tourism grows, the business is likely to expand. Rising obesity and diabetes rates are increasing the number of stroke patients, which is pushing up product demand.
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One of the aspects expected to enhance demand over the coming years is the growing use of hyperbaric oxygen therapy in wound healing and aesthetic surgeries.
Key Takeaways from Market Study
· The global hyperbaric oxygen therapy devices market is set to reach a valuation of US$ 7.3 Bn by 2028.
· North America is the most lucrative market for hyperbaric oxygen therapy device manufacturers.
· Demand for monoplace HBOT devices is expected to increase at a 7% CAGR over the forecast period.
“Rising approval & medical certification of products, growing adoption of hyperbaric systems by hospitals, increasing awareness about the benefits of hyperbaric oxygen therapy devices, and rising support by government organizations are projected to boost market growth over the coming years,” says a Fact.MR analyst
Winning Strategy
Key players are concentrating their efforts on product expansion and the development of modern, lower-cost medical devices in order to break into new markets and secure high market share, particularly in emerging economies.
To strengthen their supply chain channels, key market players are using strategic mergers and acquisitions and building alliances with regional distributors. They're also focusing on expediting product approvals, development, and patenting.
For instance,
· In July 2019, Unique Group launched a multiplace hyperbaric oxygen treatment (HBOT) device to provide a new hyperbaric therapy proposition to the healthcare sector for the treatment of infections and wounds.
· In May 2021, CūtisCare, a key provider of multi-location hyperbaric services for trauma centers and acute care hospitals, launched its hyperbaric aware website and nationwide campaign. CūtisCare strives to raise knowledge of hyperbaric oxygen therapy as a viable treatment option for a variety of chronic diseases.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global hyperbaric oxygen therapy devices market, presenting historical demand data (2017-2020) and forecast statistics for the period of 2021-2028.
The study divulges essential insights on the market on the basis of product (monoplace HBOT devices and multiplace HBOT devices) and application (wound healing, decompression sickness, infection treatment, and gas embolism), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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Hyperbaric Oxygen Therapy Devices Market: Global Industry Analysis and Opportunity Assessment, In terms of value, the global hyperbaric oxygen therapy devices market is projected to register a healthy CAGR of 7.2% during the forecast period due to various factors.
This FMI report offers vital and detailed insights regarding these factors.Some key companies covered in this Hyperbaric Oxygen Therapy Devices Market report include ETC BioMedical Systems, Fink Engineering Pty, Ltd., Gulf Coast Hyperbarics, Inc., HAUX-LIFE-SUPPORT GmbH, Hearmec Co., Ltd., Hyperbaric SAC, IHC Hytech B.V., OxyHeal Health Group, Sechrist Industries, Inc., and SOS Medical Group, Ltd.
These companies are primarily focused on enhancing their product portfolio through research and development, introduction of innovative and cost-effective medical devices in order to gain market share and strengthen their respective position in the global market.Impact of Covid-19 pandemic on marketDue to the outbreak of Covid-19 pandemic globally, imaging modalities is widely preferred by most healthcare professionals as it provides a primary diagnosis in a short time.
The increasing requirement for advanced imaging solutions is projected to drive the development studies globally.
The report will account for Covid19 as a key market contributor.Download Sample Copy@ https://www.futuremarketinsights.com/reports/sample/rep-gb-1099The Hyperbaric Oxygen Treatment (HBOT) Devices Market is analysed based on product types, major applications and key playersKey product type:Monoplace HBOT DevicesMultiplace HBOT DevicesTopical HBOT DevicesAsk for TOC @ https://www.futuremarketinsights.com/toc/rep-gb-1099 Key applications:Wound HealingDecompression SicknessAir or Gas EmbolismInfection TreatmentOthersThe report provides analysis & data at a regional level (North America, Europe, Asia Pacific, Middle East & Africa , Rest of the world) & Country level (13 key countries – The U.S, Canada, Germany, France, UK, Italy, China, Japan, India, Middle East, Africa, South America)This report assesses trends driving each segment and offers analysis and insights about the potential of hyperbaric oxygen therapy devices market in specific regions.
The monoplace HBOT devices segment was valued at US$ 1,503.3 million and is expected to exhibit a CAGR of 7.6% in terms of value during the forecast period.Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-1099The report also analysis the impact of COVID – 19 based on a scenario-based modelling.
One the key feature of the competitive landscape of the global hyperbaric oxygen therapy devices market is its diversity.
One of the key marketing strategies is improved focus on product development and innovation.
The companies are now trying to focus on developing highly cost efficient medical devices and equipment as to encourage more adoption.Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=806“The companies in the global market for hyperbaric oxygen therapy devices are are also resorting to inorganic marketing strategies such as mergers, acquisitions, takeover, and strategic alliances and partnerships in order to diversify and strengthen their portfolio as well as generate more profits.
Moreover, these companies are also exploring new geographical regions in order to tap into potential lucrative opportunities” notes TMR analyst.Some of the notable names operating in the global hyperbaric oxygen therapy devices are Sechrist Industries, Inc., Perry Baromedical, and Environmental Tectonics Corporation (ETC), HAUX-LIFE-SUPPORT GmbH, IHC Hytech B.V., Oxyheal International and Fink Engineering.Transparency Market Research has published a new research report that provides detailed information about the key segments, drivers and restraints, geographical outlook, and current situation of the vendor landscape.
As per the findings of the research report, the global market for hyperbaric oxygen therapy devices is expected to reach a market valuation worth US$284.8 Mn by the end of 2025.
Favorable regulatory policies, improving patients’ hygiene, affordable prices as compared to multiplace chambers, improved and faster healing of wounds, and technological advancements are some of the key factors helping to drive the growth of the segment.Based on the regional segment, the global hyperbaric oxygen therapy devices market is divided into five main regions namely, North America, Latin America, Europe, Middle East and Africa, and Asia Pacific.
