Hyperbaric Oxygen Therapy Market Report [2021-2028] | Size, Share, Growth Factors, Trends, Restraining Factors, Revenue, Competitive Landscape, Forecast Analysis
Pune, India, Oct. 14, 2021 (GLOBE NEWSWIRE) — The rise in prevalence of chronic diseases worldwide is propelling the global hyperbaric oxygen therapy market growth says Fortune Business Insights in their new study. The study is titled “Hyperbaric Oxygen Therapy Market Size, Share and Global Trend By Product (Monoplace oxygen chambers, Multiplace oxygen chambers, Topical oxygen chambers, Portable oxygen chambers), By Application (Decompression Sickness, Wound Healing, Infectious diseases, Gas Embolism, Carbon monoxide poisoning, Others), By End Users (Hospitals, Ambulatory care centers, Outpatient clinics, Standalone hyperbaric treatment centers) and Geography Forecast 2026”. This report includes expert opinion and information from trusted sources and focusses on analyzing major factors driving and restricting the growth of the market during the forecast period, 2018 to 2026.
As per the report, in terms of product, the mono oxygen chambers segment is expected to show strong growth. In addition, the relative ease provided by mono oxygen chambers and other advantageous features they offer are further anticipated to help this segment remain dominant through the forecast period.
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Low Treatment Cost of HBOT in Developing Nations Promotes Medical Tourism
The global hyperbaric oxygen therapy market is driven by the increasing prevalence of chronic and acute wounds and rising cases of post-surgical infections. The rising prevalence of chronic and acute diseases resulting in serious ailments is also helping the market gain traction. Besides this, of the market is expected to gain from increasing medical tourism. Additionally, the rise in adoption of technologically advanced medical products, tools, and drugs is helping the market gain traction at a rapid pace worldwide.
On the other hand, certain factors may pose a threat to the growth of the hyperbaric oxygen therapy market such as lack of awareness about these systems, and high cost of installation. Additionally, the lack of HBOT devices in developing nations may hinder the hyperbaric oxygen therapy market growth in the long run.
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Increasing Investments in Expansion of Healthcare Infrastructure in Developing Nations to Help Asia Pacific Emerge as a Lucrative Market
Geographically, North America currently holds a major percentage of the overall hyperbaric oxygen therapy market share. Growth witnessed in North America is attributable to the high investment made in the region’s healthcare and medical infrastructure. Governments in North America strive to provide advanced health facilities to their citizens. This, coupled with recent regulatory approvals and quick adoption of technologically advanced medical procedures, is helping the hyperbaric oxygen therapy market in grow at an accelerated pace in North America.
On the other side, the Asia Pacific market holds huge growth potential because of the increasing popularity of the HBOT especially in the developing nations such as China and India. In addition, the research and development on hyperbaric oxygen therapy are boosting Asia Pacific market. The rise in adoption of HBOT systems in this region, coupled with, the rise in emphasis of treating diseases such as decompression sickness will help the market in Asia Pacific register rapid growth in the coming years.
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Some of the companies functioning in the global market are Hyperbaric SAC, Environmental Tectonics Corporation, Perry Baromedical, Hearmec Co. Ltd, Gulf Coast Hyperbarics Inc., IHC Hytech BV, Fink Engineering, SOS Medical Group Ltd, OxyHealth, Sechrist Industries, Inc., and others.
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