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  • Published On : Oct 2022
  • Code : CMI553
  • Industry : Medical Devices
  • Pages : 173
  • Formats :

Hyperbaric Oxygen Therapy (HBOT) devices help in the treatment of many diseases such as asthma, Bell's palsy, Parkinson’s disease, spinal cord injuries, hepatitis, migraines, multiple sclerosis, stroke, and sport injuries. Moreover, hyperbaric oxygen therapy (HBOT) devices are used for treating decompression sickness, thermal, necrotizing soft tissues infection and burn injury. These devices are also used in off-label medical induction treatments such as brain injuries and cancer. Off-label means medication that is not specified in the FDA's approved packaging label. Increasing preference of hyperbaric oxygen therapy (HBOT) devices by patients as well as medical practitioners has led to growth in the hyperbaric oxygen therapy devices market.

Global hyperbaric oxygen therapy (HBOT) devices market is estimated to be valued at US$ 2,891.5 million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).

Figure 1. Global Hyperbaric Oxygen Therapy (HBOT) Devices Market Share (%), by Product Type, 2022

Hyperbaric Oxygen Therapy (HBOT) Devices  | Coherent Market Insights

Global Hyperbaric Oxygen Therapy (HBOT) Devices Market: Drivers

Increasing prevalence of skin wounds is expected to boost growth of global hyperbaric oxygen therapy devices market

For instance, in September 2020, according to the data published in Advances in Skin and WoundCare journal, a research study was conducted for the analysis of electronic health records of cases and controls for chronic skin wounds in the hospitals. The total prevalence of chronic wounds during the study period was increased and the occurrence of these wounds was correlated with older age, male gender, unemployment and autumn season.  The primary cause of chronic wound was diabetic ulcer and infection. Hence, increased in chronic skin wound and their risk factors resulted in an inpatient hospital setting in northern china.

Figure 2. Global Hyperbaric Oxygen Therapy (HBOT) Devices Market Share (%), by Region, 2022

Hyperbaric Oxygen Therapy (HBOT) Devices  | Coherent Market Insights

Increasing launch of awareness campaign are expected to drive the global hyperbaric oxygen therapy devices market growth during the forecast period.

Increasing launch of awareness campaigns by key players in the market is expected to drive market growth over the forecast period. For instance, in May 2022, CutisCare, a wound care management and hyperbaric therapy solutions, announced that they launched a Second Annual Hyperbaric Aware National Campaign to raise awareness in people about Hyperbaric Oxygen Therapy. Hyperbaric Oxygen Therapy is a productive healing option for several chronic conditions. As many people were not aware about the treatment indications, advantages, and the selection criteria of hyperbaric medicine. This campaign promoted the advantages of hyperbaric oxygen therapy which helped the people for long lives and reduce the cost of care while improving the worth of life.

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Hyperbaric Oxygen Therapy (HBOT) Devices Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 2,891.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 6.8% 2030 Value Projection: US$ 4,881.5 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Monoplace HBOT Devices, Multiplace HBOT Devices, Topical HBOT Devices
  • By Application: Wound Healing, Decompression Sickness, Infection, Gas Embolism, Others (diabetes or radiation injury, etc.)
  • By End User: Hospitals, Ambulatory Surgery Centers, Specialty Clinics
Companies covered:

Fink Engineering Pty Ltd., Gulf Coast Hyperbarics, Inc., SOS Medical Group Ltd., IHC Hytech B.V., ETC BioMedical Systems, Haux-Life-Support GmbH, Sechrist Industries, Inc., GWR Medical, Inc., Hyperbaric Modular Systems, Inc., Hearmec Co., Ltd., and Premier Hyperbarics.

Growth Drivers:
  • Increasing launch of awareness campaign by key market players
  • Inorganic growth strategies by key market players such as product launch, acquisition
  • Increasing prevalence of skin wounds
Restraints & Challenges:
  • High cost of treatment with hyperbaric oxygen therapy

Global Hyperbaric Oxygen Therapy (HBOT) Devices Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.

However, the COVID-19 pandemic had a negative impact on the global hyperbaric oxygen therapy (HBOT) devices market, due to the lack of availability of global hyperbaric oxygen therapy (HBOT) devices. For instance, according to the data published by National Center of Biotechnology Information, in July 2021, Hyperbaric Oxygen Therapy (HBOT) Devices were considered as safe and effective method of oxygenation for the COVID-19 patients but lack of availability of the these devices were observed due to disruptions in supply chain across the globe.

Global Hyperbaric Oxygen Therapy (HBOT) Devices Market: Key Developments

In February 2021, BioBarica, a manufacture of hyperbaric chambers announced that they had received an approval from the U.S. Food and Drug Administration for hyperbaric oxygen therapy chambers. A hyperbaric chamber is a medical device through which patient breathes high concentration of oxygen via mask in a pressurized environment at 1.45 atmospheres absolute. It enhance the availability and concentration of oxygen in blood plasma and creates excess supply of oxygen in tissues.   

Global Hyperbaric Oxygen Therapy (HBOT) Devices Market: Restraint

The major factors that hinder growth of the global hyperbaric oxygen therapy (HBOT) devices market include high cost of treatment with hyperbaric oxygen therapy. For instance, according to the data published in article Hyperbaric Medical Solutions, it was estimated that the cost per treatment for hyperbaric oxygen therapy was US$ 250 to US$ 600. Hence, because of the high cost of treatment of hyperbaric oxygen therapy, it is difficult for underdeveloped countries such as South Africa, Cambodia to undergo the treatment process.

Key Players

Major players operating in the global hyperbaric oxygen therapy (HBOT) devices market include Fink Engineering Pty Ltd., Gulf Coast Hyperbarics, Inc., SOS Medical Group Ltd., IHC Hytech B.V., ETC BioMedical Systems, Haux-Life-Support GmbH, Sechrist Industries, Inc., GWR Medical, Inc., Hyperbaric Modular Systems, Inc., Hearmec Co., Ltd., and Premier Hyperbarics.

Hyperbaric Oxygen Therapy (HBOT) devices are used to deliver 100% pure oxygen to tissues in the body under high atmospheric pressure. During hyperbaric oxygen therapy, the pressure is increased to three times to the normal atmospheric pressure, creating high amount of partial pressure of oxygen. Under normal conditions, one atmosphere absolute is subjected to be around 14.7 pounds per square inch of pressure and the air we normally breathe is composed of 21% oxygen and 79% nitrogen. Breathing in 100% oxygen, the body is exposed to rise in atmospheric pressure, the oxygen molecules become condensed and this allows intake of a higher amount of partial pressure of oxygen, where oxygen dissolves in the plasma around 10 to 15 times greater than normal. This super-saturation of oxygen in the body’s tissues promotes an increase in capillary growth, white blood cell (WBC) activity, new tissue development, oxygen tension in hypoxic areas, reduction in the size of gas bubbles, and numerous other physiological effects.

Market Dynamics:

Increasing adoption of inorganic growth strategies such as expansion of manufacturing facilities by market players is expected to drive the global hyperbaric oxygen therapy (HBOT) devices market over the forecast period. For instance, in May 2019, BioBarica, a manufacture of Hyperbaric Chambers, announced that they had launched of a new service center in Junín, Latin America, which will offer hyperbaric oxygen therapy. In hyperbaric oxygen therapy the patients breaths at high level of concentration through mask, this high availability of oxygen in the blood plasma creates hyperoxia and provides to all tissues.

Key features of the study:

  • This report provides an in-depth analysis of the global hyperbaric oxygen therapy (HBOT) devices market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global hyperbaric oxygen therapy (HBOT) devices market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Fink Engineering Pty Ltd., Gulf Coast Hyperbarics, Inc., SOS Medical Group Ltd., IHC Hytech B.V., ETC BioMedical Systems, Haux-Life-Support GmbH, Sechrist Industries, Inc., GWR Medical, Inc., Hyperbaric Modular Systems, Inc., Hearmec Co., Ltd., and Premier Hyperbarics
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global hyperbaric oxygen therapy (HBOT) devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hyperbaric oxygen therapy (HBOT) devices market

Detailed Segmentation:

  • Global Hyperbaric Oxygen Therapy (HBOT) Devices Market, By Product Type:
    • Monoplace HBOT Devices
    • Multiplace HBOT Devices
    • Topical HBOT Devices
  • Global Hyperbaric Oxygen Therapy (HBOT) Devices Market, By Application:
    • Wound Healing
    • Decompression Sickness
    • Infection
    • Gas Embolism
    • Others (Diabetes or Radiation Injury, etc.)
  • Global Hyperbaric Oxygen Therapy (HBOT) Devices Market, By End User:
    • Hospitals
    • Ambulatory Surgery Centers
    • Specialty Clinics
  • Global Hyperbaric Oxygen Therapy (HBOT) Devices Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Fink Engineering Pty Ltd.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Gulf Coast Hyperbarics, Inc.
    • SOS Medical Group Ltd.
    • IHC Hytech B.V.
    • ETC BioMedical Systems
    • Haux-Life-Support GmbH
    • Sechrist Industries, Inc.
    • GWR Medical, Inc.
    • Hyperbaric Modular Systems, Inc.
    • Hearmec Co., Ltd.,
    • Premier Hyperbarics.

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global hyperbaric oxygen therapy (HBOT) devices market size is estimated to be valued at US$ 2,891.5 million in 2022 and is expected to exhibit a CAGR of 6.8% between 2022 and 2030.
Factors such as increasing launch of awareness campaign and inorganic growth strategies by key market players such as product launch, acquisition, and increasing prevalence of skin wounds are expected to drive the market growth.
Monoplace hyperbaric oxygen therapy devices are the leading product type segment in the market.
The major factors hampering growth of the market include high cost of treatment with hyperbaric oxygen therapy.
Major players operating in the market include Fink Engineering Pty Ltd., Gulf Coast Hyperbarics, Inc., SOS Medical Group Ltd., IHC Hytech B.V., ETC BioMedical Systems, Haux-Life-Support GmbH, Sechrist Industries, Inc., GWR Medical, Inc., Hyperbaric Modular Systems, Inc., Hearmec Co., Ltd., and Premier Hyperbarics.

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