Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment Market USD 2.88 Billion in 2022

The global hyperbaric oxygen therapy (HBOT) devices/equipment market size was USD 2.88 Billion in 2021 and is expected to register a revenue CAGR of 6.3% during the forecast period. Increasing usage of HBOT devices for wound healing, rising demand for HBOT devices for strengthening immune system, and growing demand for these devices for formation of new collagen (connective tissue) and new skin cells are key factors expected to drive market revenue growth over the forecast period. Increasing demand for HBOT devices to prevent reperfusion injury is also expected to drive market revenue growth going ahead.

Hyperbaric oxygen therapy protects against reperfusion damage. This is acute tissue damage that occurs when blood flow returns to tissues that become deprived of oxygen. Whenever blood flow gets disrupted, as in a crush injury, a sequence of events inside the injured cells causes the release of damaging oxygen radicals. Such molecules would induce irreversible tissue damage, causing blood vessels to constrict, and halt in blood flow. HBOT stimulates the body’s oxygen radical scavengers to find out the problematic molecules, thus allowing healing to continue. HBOT reduces the effect of dangerous bacteria while also strengthening the human immune system. Some toxins of bacteria can be kept inactive by HBOT. This also raises the concentration of oxygen in the tissues which aids in the resistance to infection. In addition, such devices improve white blood cell capability to identify and eliminate invaders. HBOT increases growth of new collagen (connective tissue) as well as new skin cells. This is achieved by stimulating the formation of new blood vessels. In addition, such devices increase the production of various substances in cells such as vascular endothelial growth factors. These bind and activate endothelial cells, which are required for healing. Increasing need for this therapy for a range of outcomes is a major factor expected to propel market growth over the forecast period. However, high cost of hyperbaric oxygen therapy devices and concerns regarding FDA approvals and off-label uses, and complications of hyperbaric oxygen treatment are some key factors expected to restrain market growth to a certain extent over the forecast period.

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Market Dynamics:
Driver: Increasing usage of HBOT devices for wound healing

Hyperbaric oxygen therapy devices promote wound healing by delivering oxygen-rich plasma to oxygen-depleted tissue. Wounds damage blood vessels in the body, causing fluids to leak into the tissues and result in swelling. As a result of the swelling, the injured cells are deprived of oxygen, and the tissue begins to die. HBOT decreases swelling while supplying oxygen to the tissues. The increased oxygen in the blood is caused by the increased pressure in the chamber. The goal of HBOT is to stop the cycle of swelling, oxygen deprivation, and tissue death, which is expected to boost demand for HBOT devices/equipment over the forecast period.

Restraint: High cost of HBOT devices

One of the key factors expected to limit growth of the hyperbaric oxygen treatment equipment market is high cost of hyperbaric oxygen therapy devices. The gap of off-label and FDA-approved usage is rising, and this is expected to hamper market growth over the forecast period. Patients are placed in the enclosed chamber and breathe oxygen as the pressure within the chamber is gradually increased during HBOT. Even before pressure returns to normal, the therapy can be as less as three minutes or as long as two hours, depending. Some patients would feel uncomfortable in the chamber due to the high pressure, and some could experience a popping sensation in the ears. Fatigue and lightheadedness are two potential symptoms or side effects of HBOT. Lung damage, fluid buildup or bursting (rupture) of the middle ear, sinus damage, vision changes, nearsightedness, or myopia, oxygen poisoning, which can cause lung failure, fluid in the lungs, and seizures are some serious issues that might arise with HBOT, which is expected to restrain market growth.

Product Outlook:

Based on product, the global hyperbaric oxygen therapy devices/equipment market has been segmented into monoplace Hyperbaric Oxygen Therapy (HBOT) devices/equipment, multiplace Hyperbaric Oxygen Therapy (HBOT) devices/equipment, topical Hyperbaric Oxygen Therapy (HBOT) devices/equipment, and portable Hyperbaric Oxygen Therapy (HBOT) devices/equipment. Monoplace Hyperbaric Oxygen Therapy devices/equipment segment is expected to account for largest revenue share in the global market over the forecast period. Commercial availability of monoplace systems, as well as high acceptance of these devices due to simplicity in handling and reduced hospital gas supply requirements are key factors expected to drive preference and deployment. Another factor expected to fuel growth of this segment is rising demand for monoplace devices in clinics and hospitals due to increased availability in the market and flexibility of implementation. Technical advancements in monoplace devices – including portability and other advantages such as user-friendly operability and reduced maintenance costs – are also contributing significantly to revenue growth of this segment. Multiplace hyperbaric oxygen therapy devices/equipment segment is expected to register considerably rapid revenue growth over the forecast period, driven by rising need to serve a greater number of patients in a single cycle and deployment of devices and equipment in large hospitals.

Application Outlook:

Based on application, the global hyperbaric oxygen therapy devices/equipment market has been segmented into wound care, infection treatment, insufficiencies, carbon monoxide poisoning & smoke inhalation, and others. Wound care segment is expected to account for larger revenue share in the global market during the forecast period due to increasing global incidence of chronic and acute wounds, as well as wound site infections. Increased healthcare expenditure, increasing obesity and diabetes rates, and rapidly aging population are other factors boosting demand for hyperbaric oxygen therapy devices/equipment for chronic and acute wound care. Rising popularity of adventurous and recreational sports among a growing majority of enthusiasts is also boosting demand for HBOT devices in wound healing applications due to incidence of injury and wounds during events and activities. Infection treatment segment is expected to register significantly rapid revenue growth rate in the global market over the forecast period due to increasing demand for hyperbaric oxygen therapy devices/equipment to treat intracranial abscesses, gas gangrene, soft tissue necrosis, and others.

End-Use Outlook:

Based on end-use, the global hyperbaric oxygen therapy devices/equipment market has been segmented into hospitals, ambulatory care, clinics, and hyperbaric treatment centers. Hospitals segment is expected to account for largest revenue share in the global market during the forecast period due to rising number of patients visiting hospitals to treat wounds and related conditions and disorders. As HBOT is a non-invasive procedure, almost 90.0% of hospitals currently provide hyperbaric oxygen therapies, which is expected to boost revenue growth of this segment. Similarly, around 71.0% of clinics are offering hyperbaric oxygen therapies to patients, and steadily rising usage of HBOT devices for therapies in clinics is expected to propel growth of the clinic segment going ahead.

Regional Outlook:

Based on regional analysis, hyperbaric oxygen therapy devices/equipment market in North America is expected to account for largest revenue share over the forecast period.  Growing population and increased need for wound healing therapies is driving demand for HBOT devices among end-users in countries such as the US, Canada, and Mexico. Increasing disposable income is resulting in an increasing number of patients and individuals to seek out technically advanced medical therapeutic approaches, which is expected to boost revenue growth of the market in the region.

Hyperbaric oxygen therapy devices/equipment market in Asia Pacific is expected to register robust revenue CAGR over the forecast period owing to increasing per capita income, robust medical tourism trend, and increased public awareness of the advantages of HBOT and devices and equipment. Rising incidence of gas embolism and smoke inhalation, as well as increased investment by major companies in the development of advanced hyperbaric oxygen therapy equipment is expected to support growth of the Asia Pacific market over the forecast period.

Competitive Landscape:  

The global hyperbaric oxygen therapy devices/equipment market is moderately fragmented with a number of key players operating on global and regional levels. Major players are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footing in the global market.

Some major players in the market include Haux-Life-Support GmbH, Hyperbaric SAC, Sechrist Industries Inc., Hyperbaric Modular Systems, Inc. (HMS), Environmental Tectonics Corporation, OxyHeal International, Inc., Gulf Coast Hyperbarics Inc., Fink Engineering Pty. Ltd., Hearmec Co., Ltd., and Perry Baromedical Corporation

Segments Covered in the Report:

This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2022 to 2030. For this study, has segmented the hyperbaric oxygen therapy (HBOT) devices/equipment market based on product, application, end-use, and region:

Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment Market Report Scope

Segments covered By Product Outlook, Application Outlook, End-Use Outlook, Regional Outlook

By Product Type Outlook            

Monoplace Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment

Multiplace Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment

Topical Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment

Portable Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment

By Application Outlook

Wound Care

Thermal Burns

Decompression Sickness

Crush Injuries

Radiation-related Sequelae

Other Wound Treatments

Intracranial Abscess

Gas Gangrene

Soft Tissue Necrosis

Others

Infection Treatment

Air Embolism or Gas Embolism

Severe Anemia

Arterial Insufficiencies

Others

Insufficiencies

Air Embolism or Gas Embolism

Severe Anemia

Arterial Insufficiencies

Others

Carbon Monoxide Poisoning & Smoke Inhalation

Others

By End-Use Outlook      

Hospitals

Ambulatory Care

Clinics

Hyperbaric Treatment Centers

Regional scope

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

TABLE OF CONTENT

Chapter 1.    Market Synopsis
1.1.    Market Definition
1.2.    Research Scope & Premise
1.3.    Methodology
1.4.    Market Estimation Technique
Chapter 2.    Executive Summary
2.1.    Summary Snapshot, 2020-2030
Chapter 3.    Indicative Metrics
Chapter 4.    Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment Market Segmentation & Impact Analysis
4.1.    Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment Market Material Segmentation Analysis
4.2.    Industrial Outlook
4.2.1.    Market indicators analysis
4.2.2.    Market drivers analysis
4.2.2.1.    Increasing usage of hyperbaric oxygen therapy (HBOT) devices for wound healing
4.2.2.2.    Rising demand for hyperbaric oxygen therapy (HBOT) devices for strengthening human immune system
4.2.2.3.    Growing demand for hyperbaric oxygen therapy (HBOT) devices for formation of new collagen (connective tissue) and new skin cells.
4.2.2.4.    Increasing demand for hyperbaric oxygen therapy (HBOT) devices to prevent reperfusion injury
4.2.3.    Market restraints analysis
4.2.3.1.    High cost of hyperbaric oxygen therapy (HBOT) devices
4.2.3.2.    Concern regarding FDA approvals and off-label uses
4.2.3.3.    Complications of hyperbaric oxygen treatment
4.3.    Technological Insights
4.4.    Regulatory Framework
4.5.    ETOP Analysis
4.6.    Porter’s Five Forces Analysis
4.7.    Competitive Metric Space Analysis
4.8.    Price trend Analysis
4.9.    Customer Mapping
4.10.    Covid-19 Impact Analysis
4.11.    Global Recession Influence
Chapter 5.    Hyperbaric Oxygen Therapy (HBOT) Devices/Equipment Market By Product Insights & Trends

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