In 2022, it is anticipated that the market for devices used in hyperbaric oxygen therapy will be worth US$3.21 billion. The overall demand for hyperbaric oxygen therapy devices is anticipated to increase at a CAGR of 7.1% between 2022 and 2032, reaching approximately US$ 6.37 billion by 2032 due to the growing use of hyperbaric oxygen therapy in wound healing and the increasing number of athletes driving up demand for HBOT.

The use of the hyperbaric oxygen therapy (HBOT) technique improves leukocyte performance, particularly at the site of a wound, and reduces the toxicity of cyanide and carbon monoxide (CO). One of the major factors anticipated to propel the market during the forecast period is the technology’s increasing acceptance on a global scale.

The primary reason for the rise in demand for devices for hyperbaric oxygen therapy is the rising number of diabetic patients worldwide. As a result, the market will experience an upward trend over time. Additionally, the market is expected to grow as medical tourism rises. The government’s support and investment in the growing factors in the healthcare sector cannot be disregarded for the increase in demand. Additionally, this technology is now used to treat cancer patients as well as patients with brain injuries.

One of the key factors anticipated to accelerate the growth of the hyperbaric oxygen therapy device market over the course of the analysis is the regulatory approval for a number of indications, including pulmonary embolism, severe anaemia, decompression sickness, burns, and brain abscesses, to name a few of the thirteen approved indications. One of the main factors anticipated to fuel market growth during the forecast period is the rising use of hyperbaric oxygen therapy devices for the treatment of lung disease and prevention of reperfusion injury.

In 2022, a 34.0% market share for hyperbaric oxygen therapy devices is anticipated in North America. A large portion of the market for hyperbaric oxygen therapy devices is expected to be in North America, thanks to factors like the region’s expanding population and growing interest in wound healing procedures.

Key Takeaways from the Market Study

• Global Hyperbaric Oxygen Therapy Devices Market was valued at US$ 3.21 Billion by 2022-end
• From 2017 to 2021, Hyperbaric Oxygen Therapy Devices demand expanded at a CAGR of 4.2%
• By product, monoplace hyperbaric oxygen therapy devices to acquire a revenue share of 54%.
• By Application, the Wound Healing segment dominates the Hyperbaric Oxygen Therapy Devices Market with a CAGR of 31%.

Competitive Landscape

Players in the global Hyperbaric Oxygen Therapy Devices Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

• In May 2021, C?tisCare, a leading provider of multi-place hyperbaric services for trauma centers and acute care hospitals, announced the official launch of hyperbaric aware website and national campaign. C?tisCare aims to increase awareness about hyperbaric oxygen therapy to effectively deal with various chronic conditions.
• 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.
• In July 2019, Unique Group, the world’s prominent advanced subsea, offshore, and life support solution providers, launched its next generation multiplace hyperbaric oxygen treatment chamber, ‘Uni-Heal 2200 hyperbaric oxygen treatment facility’.
• In February 2019, new medical research conducted at the LSU Health New Orleans School of Medicine indicates that the procedure can be beneficial for the patients of Alzheimer’s, when conducted with other therapies or by itself.

Key companies profiled:

Cardinal Health, Mölnlycke Health Care, Acelity L.P. Inc. (3M), Lohmann & Rauscher GmbH & Co. KG, Smith & Nephew, ConvaTec Inc., DeRoyal Industries, Inc., HARTMANN, Medela LLC, Haromed Bvba (Belgium), Carilex Medical GmbH. Genadyne Biotechnologies, Inc., Cork Medical, LLC, Alleva Medical Ltd. (Devon Medical Products, and Argentum Medical, LLC

Information Source:
https://www.futuremarketinsights.com/reports/hyperbaric-oxygen-therapy-devices-market