Mexico Hyperbaric Oxygen Therapy Devices Market Analysis Report to 2028

Hyperbaric Oxygen Therapy Devices Market Outlook 2028

The global hyperbaric oxygen therapy devices market was valued at US$ 3.1 Bn in 2020

It is estimated to expand at a CAGR of 8.9% from 2021 to 2028

The global hyperbaric oxygen therapy devices market is expected to reach the value of US$ 7.3 Bn by the end of 2028

Carbon Monoxide Poisoning Fueling Demand for Hyperbaric Oxygen Therapy Devices

The hyperbaric oxygen therapy (HBOT) is known to treat various health problems such as carbon monoxide poisoning and diabetic foot ulcers. World's most prominent and advanced subsea, offshore, and life support solution providers are collaborating with researchers to launch next-generation multiplace hyperbaric oxygen treatment chambers.

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Leading providers of multiplace hyperbaric services for acute care hospitals and trauma centers are announcing the official launch of hyperbaric aware website and national campaigns. Stakeholders in the hyperbaric oxygen therapy devices market are increasing awareness about the therapy's advantages to effectively deal with various chronic conditions. Moreover, the U.S. Food and Drug Administration (FDA) granted permission for commercializing and promoting ClearMate. It is a new device intended to be utilized in the emergency room in order to treat patients suffering from carbon monoxide poisoning.

Government Stimulus Packages Help Healthcare Providers to Stay Resilient amid COVID-19

Due to a decline in clinical and hospital visits amid the ongoing COVID-19 outbreak, financial situations have been strained for stakeholders in the hyperbaric oxygen therapy devices market. Nevertheless, reopening of healthcare facilities and increase in medical care services in hospitals & clinics due to subside in the pandemic cases are helping market stakeholders to stay resilient.

Participants in the hyperbaric oxygen therapy devices market are taking help of government stimulus packages to stay financially afloat. They are focusing on key medical services for wound healing, infection treatment, and decompression sickness to generate cash flows and revive the global healthcare ecosystem.

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Complications with HBOT Deters Companies from Entering Market

There is a possibility that patients could face difficulties with the HBO therapy such as confinement anxiety, oxygen toxicity in lungs & central nervous system, barotraumatic lesions, and ocular effects including cataract growth and myopia. It has been found that a number of patients experience ear pain or discomfort as an expression of problems during the hyperbaric oxygen therapy.

Moreover, hyperbaric oxygen therapy is a niche segment and requires significant investment for drawing new innovations. This deters companies to enter the hyperbaric oxygen therapy devices market, owing to uncertainty of receiving expected profit. Nevertheless, the market is projected for a robust CAGR throughout the assessment period, which is evident due to high incidence and prevalence of carbon monoxide poisoning, diabetic foot ulcers, Alzheimer's, and wound healing requirements.

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Skin Rejuvenation and Aesthetic Benefits of HBOT Gain Prominence

Recent studies suggest that oxygen has been found to be a crucial element for improvements in skin complexion and skin rejuvenations. The adoption of HBOT for this purpose is consistently increasing. Medical aesthetics clinics are using the oxygen therapy under high pressure applied directly to skin in order to decrease visible wrinkles. This therapy plays an instrumental role to provide rejuvenated & aesthetic benefits to the individual whilst removing toxins from skin.

Healthcare providers in the hyperbaric oxygen therapy devices market are investing in setting-up dedicated hyperbaric oxygen facilities with regenerative medicine. Such facilities are focused on improving clinical numbers for age-related diseases and infections.

Preference for Low Cost Operation of Monoplace HBOT Devices by Clinicians

Monoplace HBOT devices are generating incremental opportunities for companies in the global hyperbaric oxygen therapy devices market, owing to their technological advancements and cost-effectiveness. The adoption of monoplace HBOT devices in hospitals and clinics has increased primarily as patients can expect more privacy & comfort with quicker treatments.

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Ease of installation & handling and low maintenance of monoplace HBOT devices are estimated to boost the hyperbaric oxygen therapy devices market during the forecast period. Moreover, rise in penetration of these devices to provide user-friendly operability and portability is anticipated to propel its demand in the upcoming decade.

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

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.

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.

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
Leading players operating in the global hyperbaric oxygen therapy devices market are
Perry Baromedical
Environmental Tectonics Corporation
Fink Engineering Pty Ltd.
Sechrist Industries Inc.
HAUX-LIFE-SUPPORT
Gulf Coast Hyperbarics Inc.
Hyperbaric SAC
Royal IHC
Hearmec Co. Ltd.
SOS Group Global Ltd.
OxyHeal International Inc.
Submarine Manufacturing and Products Limited (SMP Ltd.)
Medical Equipment and Consumer Goods Plant (KhSC)
Sands Hyperbarics
Pan-America Hyperbarics Inc.
OxyHealth
Baroks Hyperbaric A.S
Tekna Manufacturing LLC
and PCCI Inc.

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