Hyperbaric Oxygen Therapy Devices Market Growth and Forecast till 2028

Hyperbaric Oxygen Therapy Devices Market: Overview

• According to Transparency Market Research's latest report on the global hyperbaric oxygen therapy devices market for the historical period 2017-2019 and forecast period from 2021 to 2028, increase in research funding, technological advancements, rise in government support, and surge in prevalence of diabetes are projected to drive the global hyperbaric oxygen therapy devices market during the forecast period

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Increase in Incidence of Obesity and Diabetes: Key Driver

• Hyperbaric oxygen therapy devices (HBOT) play a crucial role in healing osteomyelitis, actinomycosis, and diabetic wounds by bringing oxygen-rich plasma to tissue starved for oxygen
• The need of hyperbaric oxygen therapy devices in wound healing applications is expected to increase significantly owing to surge in incidence of diabetes and obesity across the globe. According to research conducted by the International Diabetes Federation (IDF), an umbrella organization of 230+ national diabetes associations in 170 economies and territories, the number of patients suffering from diabetes is expected to increase to 643 million by 2030 and 783 million by the end of 2045. According to the World Health Organization (WHO), diabetes was the ninth prominent cause of death, with an estimated 1.5 million deaths caused by diabetes in 2019.
• Growing burden of acute and chronic wounds and wound site infections drives the adoption of hyperbaric oxygen therapy (HBOT) devices. Moreover, increase in the geriatric population and rise in healthcare costs are expected to fuel the growth of the global market.

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Rise in Awareness about Hyperbaric Oxygen Therapy for Treatment of Photoaging and Skin Rejuvenation to Propel Market

• In the past few years, oxygen has been found to be a crucial element in skin rejuvenation and improvement in skin complexions. Adoption of HBOT for this purpose is consistently increasing.
• Currently, medical aesthetic clinics use oxygen therapy under high pressure applied directly to skin in order to decrease visible wrinkles. This therapy plays a significant role in removing toxins from skin and providing rejuvenated & aesthetic benefits to the individual.
• In January 2022, Narayana Health City announced the official launch of a dedicated hyperbaric oxygen facility with regenerative medicine. The dedicated hyperbaric medicine section will provide hyperbaric oxygen therapy (HBOT) to provide therapy over infections and age-related changes.

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Side Effects and Complications Associated with Hyperbaric Oxygen Therapy to Restrain Market

• A patient could develop complications during HBO therapy such as oxygen toxicity (lung, central nervous system), barotraumatic lesions (nasal sinuses, middle ear, lung, teeth, inner ear), ocular effects (cataract growth and myopia), and confinement anxiety
• Moreover, a number of patients witness discomfort or ear pain as an expression of problems during the hyperbaric oxygen therapy. Furthermore, hyperbaric oxygen therapy devices is a niche segment and requires significant investment. This deters companies to enter the market owing to uncertainty of receiving expected profit.

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Hyperbaric Oxygen Therapy Devices Market: Competition Landscape

• This report profiles major players in the global hyperbaric oxygen therapy devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
• The global hyperbaric oxygen therapy devices market is quite competitive, with the top 10 players accounting for major share of the market and companies focusing on research & development to produce better pharmaceutical and vaccine products for the existing diseases

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