As per Transparency Market Research’s market report, Hyperbaric Oxygen Therapy (HBOT) Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020, the worldwide HBOT (Hyperbaric Oxygen Therapy) devices market held a value of USD 1,851.6 million in the year 2013. The market is likely to grow at 7.2% CAGR in the period of forecast from the year 2014 to 2020, and would reach about USD 2,985.5 million in the year 2020.
The HBOT devices market consists of topical HBOT devices, multiplace HBOT devices, and monoplace HBOT devices. Among them, the leader in revenue generation were the monoplace devices in 2013 (generating more than USD 900 million). The factors responsible for this may be the accessibility of different monoplace chambers, increased commercial availability, and increased adoption rate. Moreover, it is expected that monoplace oxygen devices would show the greatest growth in the forecast tenure of 2014 to 2020, because of easy installation/set up of the device and easy procurement, which is likely to boost this segment’s growth exponentially in the forecast tenure.
In the segment of application, wound healing had the greatest market share out of the total HBOT devices market in the year 2013. The segment of wound healing is likely to have dominion over the market in the forecast period (2014 – 2020), at 7.9% compound rate of growth. Some of the significant driving factors for wounds being an application for the HBOT devices market, are the high occurrence of chronic and acute wounds like pressure ulcers and diabetic ulcers throughout the world, and the proven beneficial therapeutic results of Hyperbaric Oxygen Therapy in the severe cases of wounds. Furthermore, the Cochrane Collaboration studies done recently show that HBOT application in patients having diabetic foot ulcers, has the ability to considerably reduce major amputation risk. Due to this, the segment shows increased growth.
The HBOT devices market is quite competitive and oligopolistic, since many manufacturers of small-scale equipments are largely present here, ranging from global to regional enterprises. The key market players taken into account for conducting this study are – Hyperbaric SAC, Hearmec Co., Ltd., Haux-Life-Support GmbH, Sechrist Industries, Inc.
The segmentation of the global HBOT devices market has been done as follows:
Based on Type of Products:
- Topical HBOT Devices
- Multiplace HBOT Devices
- Monoplace HBOT Devices
Based on Application:
- Wound Healing
- Gas Embolism
- Infection Treatment
- Decompression Sickness