Hyperbaric Oxygen Therapy Market to grow by USD 145.05 million between 2023 and 2028, Growing number of clinical trials sponsored by various universities and players to Boost Growth - Technavio
NEW YORK, Jan. 24, 2024 /PRNewswire/ -- The hyperbaric oxygen therapy market is expected to increase by USD 145.05 million, at a CAGR of 5.49% from 2023 to 2028. The growing number of clinical trials sponsored by various universities and players is a key factor driving growth. The increase in clinical trials, sponsored by universities and industry, is advancing (HBOT) research. These trials assess HBOT's safety and efficacy across medical conditions, driving innovation and expanding its applications. Universities are actively involved, with trial outcomes impacting practice, regulations, and HBOT's acceptance in the medical community.
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The technological advancements in HBOT devices are a major trend shaping the growth. The high cost of HBOT treatment is one of the key challenges hindering the growth.
The report provides complete insights on key companies including Airox Technologies Ltd., Baroks AS, Biobarica, Environmental Tectonics Corp., Fink Engineering, Gulf Coast Hyperbarics Inc., Haux Life Support GmbH, Hipertech Inc., Hyperbaric Modular Systems Inc., Hyperbaric SAC, OxyHealth, Pan America Hyperbarics Inc., Perry Baromedical Corp., Richmond Hyperbaric Health Center, Royal IHC, Sechrist Industries Inc., Sosgroup, Tekna Hyperbaric, Unique Group, and HEARMEC.
The report includes a competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Based on Type, the market is classified into monoplace hyperbaric chamber, multiplace hyperbaric chamber, and topical HBOT devices. The monoplace hyperbaric chamber segment is estimated to witness significant growth during the forecast period. Monoplace hyperbaric chambers are medical devices used for (HBOT), treating one patient at a time. They create a pressurized environment for administering concentrated oxygen, offering a personalized treatment experience. These chambers enable precise control of oxygen levels and pressure, tailoring treatments to individual patient needs.
Based on Geography, the market is classified as North America, Europe, Asia, and the Rest of the World (ROW). North America is estimated to contribute 32% to the growth during the forecast period. The growth is fueled by the rising incidence of chronic wounds, such as diabetic foot ulcers and pressure injuries. HBOT has demonstrated effectiveness in wound healing, infection risk reduction, and amputation prevention. Increasing awareness among healthcare professionals and patients, along with advancements in hyperbaric chamber technology, contributes to the growth.
Applications and Benefits of (HBOT).
(HBOT) utilizes hyperbaric chambers and medical gases to administer oxygen therapy, promoting wound healing, managing pressure vessels, hyperoxia, oxygen saturation, chronic wounds, diabetic foot ulcers, non-healing ulcers, carbon monoxide poisoning, decompression sickness, traumatic brain injury, stroke, autism spectrum disorders, radiation injury, infection control, tissue repair, oxygen dissociation curve, hyperbaric medicine, hyperbaric treatment centers, barometric pressure, FDA approvals, and respiratory distress syndrome.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Application
Segmentation by Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
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SOURCE Technavio
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