Global Hyperbaric Oxygen Therapy Devices Market: Snapshot
Presence of a copious number of small vendors has made the global hyperbaric oxygen therapy devices market fragmented in nature. However, there are few dominant players too that have a stronghold over the market. In order to surge ahead of competitors, savvy players in the global hyperbaric oxygen therapy devices market are seen leveraging a multi-pronged strategy. First, they are pouring money into research and development of improved new products. Second, they are striking carefully-considered partnerships to enhance their product portfolios. Third, they are trying to expand their geographical footprints by tapping into the relatively underserved markets in the developing nations.
A range of hyperbaric oxygen chambers of various designs and sizes combined with increasing knowledge the quicker, smoother healing process, is primarily responsible for this market’s steady growth rate. Besides, the large pool of global elderly population, rising occurrence of acute and chronic wounds, and the increase in diabetic foot ulcers and pressure cases is also stoking demand in the global market for hyperbaric oxygen therapy devices.
A report by Transparency Market Research predicts the global hyperbaric oxygen therapy devices market to register a CAGR of 7.4% from 2017 to 2025 to become worth US$284.8 mn by 2025 from US$ 150.0 mn in 2016.
Monoplace HBOT Devices See Maximum Demand Due to their Affordability
The two main types of hyperbaric oxygen therapy devices purveyed in the market are monoplace HBOT devices and multiplace HBOT device, depending upon whether it is for one person or for many. Depending upon the type of product, the monoplace HBOT devices leads the market. It 2016, its leading share came to around 60.1% of the overall market. Their affordable cost compared to multiplace chambers has served to boost their uptake so far. Further, constant improvement in their technology that speeds up the healing process even more is also bringing about sales. In Europe, however, strict rules pertaining to the use of monolpace HBOT devices for medical purpose is pushing up demand for multiplace HBOT devices.
Hyperbaric oxygen therapy devices find application in wound healing, infection treatment, decompression sickness, gas embolism, etc. Of these, the segment of wound healing contributes the most to the market because of the widespread use of monoplace HBOT chambers in developed countries of the U.S., Canada and Japan and also in developing countries of China, Saudi Arabia, and Brazil.
Powered by U.S., North America Leads the Market
From a geographical standpoint, currently North America runs the show in the global hyperbaric oxygen therapy devices market. In 2016, the region held 32.1% share in the global market. Increasing occurrence of head injuries is said to be driving growth in the region. The U.S. is a major contributor to the market on account of the robust reimbursement system in the country.
Europe trails North America, in terms of market share, in the global hyperbaric oxygen therapy market. The revenue in the region is slated to become US$62.2 mn by 2025. Vis-à-vis growth rate, on the other hand, Asia Pacific is projected to outpace all other regions as it is home to over half the population in the world, which also makes the prevalence of diabetes much higher in the region. Besides, an improving medical infrastructure and foray of international players is also boosting the market in the region.
Some of the key players operating in the hyperbaric oxygen therapy devices market are Sechrist Industries, Inc., Perry Baromedical, and Environmental Tectonics Corporation (ETC), HAUX-LIFE-SUPPORT GmbH, IHC Hytech B.V., Oxyheal International, and Fink Engineering.
Global Hyperbaric Oxygen Therapy Devices Market: Overview
This report on hyperbaric oxygen therapy devices market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture, commercialization, providing hyperbaric oxygen therapy devices as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. This section also provides the overall information and data analysis of the global hyperbaric oxygen therapy devices market with respect to the leading market segments based on product type, applications, and geographies.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the hyperbaric oxygen therapy devices market and could influence the market in the near future. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market across different geographies. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global hyperbaric oxygen therapy devices market.
Global Hyperbaric Oxygen Therapy Devices Market: Segmentation
Based on product type, the hyperbaric oxygen therapy devices market has been majorly segmented into: monoplace HBOT devices, multiplace HBOT devices. In terms of various applications, the hyperbaric oxygen therapy devices market has been broadly classified into wound healing, decompression sickness, infection treatment, gas embolism, and others.
Each of the market segments have been extensively analyzed based on the market related factors such as incidence and prevalence of infectious disease and rise in application of HBOT devices in treatment of various diseases. Moreover, historical year-on-year growth have been taken into consideration while estimating the market size. The market size and forecast in terms of US$ million for each segment has been provided for the period from 2015 to 2025. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
Geographically, hyperbaric oxygen therapy devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market size and forecast for each of these regions has been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year. The report also provides with market size and forecast for major countries in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section.
Global Hyperbaric Oxygen Therapy Devices Market: Competitive Analysis
A section of the report also provides with market attractiveness analysis, porter’s five forces analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global hyperbaric oxygen therapy devices market.
The key findings section included in the report would assist existing market players in expanding their market shares, and new companies in establishing their presence in the global hyperbaric oxygen therapy devices market. The report also profiles key players operating in the hyperbaric oxygen therapy devices market which are Environmental Tectonics Corporation, Perry Baromedical, Sechrist Industries, Inc., Fink Engineering Pty Ltd, Gulf Coast Hyperbarics, Inc., HAUX-LIFE-SUPPORT, Hearmec Co., Ltd., Hyperbaric SAC, Royal IHC, OxyHeal International, Inc., and other prominent players.
The global hyperbaric oxygen therapy devices market is segmented as follows:
Global Hyperbaric Oxygen Therapy Devices Market, by Product
- Monoplace HBOT Devices
- Multiplace HBOT Devices
Global Hyperbaric Oxygen Therapy Devices Market, by Application
- Wound Healing
- Decompression Sickness
- Infection Treatment
- Gas Embolism
Global Hyperbaric Oxygen Therapy Devices Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia
- Latin America (LATAM)
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa