Global Hyperbaric Oxygen Therapy Devices Market is Segmented By Device Type (Monoplace Chambers, Multiplace Chambers, Others), By Technology (Traditional HBOT Equipment, Portable and Transportable HBOT Equipment, Hyperbaric Accessories), By Application (Wound Healing, Decompression Sickness, Infections, Carbon Monoxide Poisoning, Others), By End-User (Hospitals and Clinics, Research and Academic Institutions, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Global hyperbaric oxygen therapy devices market is US$ XX million in 2023 and is estimated to grow at a CAGR of XX% during the forecast period (2024-2031) to reach a value of US$ XX million in 2031.
Hyperbaric oxygen therapy involves breathing pure oxygen in a pressurized environment. Hyperbaric oxygen therapy is a well-established treatment for decompression sickness, a potential risk of scuba diving.
The equipment used in hyperbaric oxygen therapy (HBOT) is essential to the safety, efficacy, and outcome of the procedure. For instance, the layout and comfort aspects of the hyperbaric chamber, such as the seating and reclining choices, aid in keeping patients at ease throughout what might be a protracted therapy session. Equipment that is comfortable can improve patient compliance and treatment outcomes overall.
North America is expected to hold a significant share in the overall hyperbaric oxygen therapy (HBOT) devices market over the forecast period. The increase is lead on by an increase in chronic wounds by an increase in chronic diseases and the population of elderly people.
Market Drivers
Rise in burden of acute and chronic wounds
The rise in burden of acute and chronic wounds are one of the factor that drives the market during the forecast period. HBOT raises the bloodstream's oxygen content, which is essential for wound healing. Cells require oxygen to function properly and heal injured tissues. Patients with chronic wounds may have impaired blood flow to the affected areas, which can cause tissue damage and poor recovery. HBOT aids in oxygen delivery to these regions, encouraging tissue regeneration.
For instance, Chronic wounds impact the quality of life (QoL) of nearly 2.5% of the total population in the United States and the management of wounds has a significant economic impact on health care.
The global prevalence of chronic wounds is estimated at 1.51 to 2.21 per 1,000 population. In the United States, chronic wounds affect about 16.4% of the population on Medicare, with total annual costs ranging from U.S.$ 22.5 to $67.1 billion. The most common wound type among patients older than 65 years is the dehisced surgical wound, occurring in up to 30% of patients it can result in mortality rates as high as 50%.
Hence, HBOT devices helps wound healing by bringing oxygen-rich plasma to tissue starved for oxygen. Wound injuries damage the body's blood vessels, which release fluid that leaks into the tissues and causes swelling.
In the mentioned pie chart, more than half of the chronic wounds affect the foot area and are composed of diabetic foot ulcers, venous ulcers and arterial ulcers.
Thus, the rise in the burden of acute and chronic wounds increase the demand for HBOT devices.
Market Restraints
High cost associated with the devices
Hyperbaric oxygen therapy is a medical intervention in which patients receive 100% pure oxygen within a pressurized chamber or enclosure. This therapeutic approach has demonstrated its effectiveness in treating a range of medical conditions, including decompression sickness, non-healing wounds, and various neurological disorders.
The initial expense for establishing a hyperbaric oxygen therapy center is a significant cost element. To guarantee patient safety, these facilities require specialized chambers that can resist high pressures, as well as the appropriate monitoring and control systems.
The chambers themselves are expensive to build and install, and they must adhere to high safety norms and regulations.
A brand new chamber typically costs more than $100,000, and a used chamber costs about half of that. As precious as capital budget dollars are, that could make all the difference in terms of whether or not to develop a full-service wound center including HBOT.
Hence, this is the one of the main restraint factor that hampers the overall market during the forecast period.
Market Opportunity
Rise in telehealth integration
As HBOT patients often require daily treatment sessions for a period of months, it is necessary for facilities providing HBOT services to adjust to the COVID-19 pandemic while still maintaining availability of this important service.
Modification of HBOT session timing and chamber decontamination procedures, utilization of telehealth services for initial patient evaluations, and acceptance of novel patient populations and diagnoses are mechanisms by which HBOT centers can adapt to the evolving model of health care delivery throughout a pandemic.
The COVID-19 pandemic has increased the risk of healthcare personnel being exposed to the virus, leading to increased exposure. The CDC provides guidance on how to protect themselves and the ability to connect, evaluate, and treat patients remotely.
This reduces the risk of getting sick and allows clinicians to help more patients. Wound care and HBOT clinicians can use telemedicine to remotely see patients and provide remote consultations to colleagues treating wounds.
In the U.S., the Centers for Medicare and Medicaid (CMS) and private insurers provide reimbursement for various telemedicine modalities. This highlights the importance of staying alive and well during emergencies.
Industry Factors
Unmet Needs
Hyperbaric oxygen therapy (HBOT) had shown potential in addressing unmet needs in various medical conditions, particularly those related to central nervous system disorders and chronic pain syndromes. HBOT has been investigated for the treatment of perianal fistulas, fibromyalgia, and traumatic brain injury (TBI).
For perianal fistulas, HBOT has been applied with 40 daily sessions over an 8-week period, showing some improvement in patients with this condition. In fibromyalgia patients with a history of traumatic brain injury, HBOT has been compared to pharmacological intervention, with HBOT showing significant improvements in pain measures, quality of life, and other symptoms.
HBOT has also been proposed for TBI, with a recent review recommending its use for postconcussive syndrome and chronic TBI, as there is an urgent unmet need for more effective treatments in this area.
However, the evidence for HBOT in TBI is inconsistent, and more definitive studies are needed to establish its efficacy.
Technology and Trend Analysis
HBOTs were increasingly being utilised for medical issues other than wound healing. Neurological problems, sports medicine, and post-surgical rehabilitation were among the applications.
The invention of portable HBOT devices increased accessibility and convenience. Patients might be treated at home, lowering the number of hospital visits.
Telehealth and remote monitoring combined with HBOT devices enhanced patient access and adherence to therapy. It also allowed healthcare personnel to remotely monitor patients’ progress.
Advanced hyperbaric chambers now include enhanced user interfaces, automation, and safety measures thanks to technological breakthroughs.
HBOT gained traction in veterinary medicine for treating problems in animals such as pets and racehorses.
Technological developments in hyperbaric chambers were aimed at improving patient comfort. This includes advancements in seating, lighting, and entertainment alternatives to help patients feel less anxious during treatments.
Innovative oxygen concentrators designed for HBOT were emerging. These concentrators could deliver high-purity oxygen at the required pressure levels, reducing the need for bulky oxygen cylinders.
Medical personnel were being trained, and hyperbaric settings were being simulated, using simulation software and virtual reality (VR) technology. This enhanced the safety of HBOT and assisted in training healthcare professionals for emergency scenarios.
Covid-19 Impact Analysis
The outbreak of COVID-19 has positively affected the global hyperbaric oxygen therapy devices market.
The disruption in the supply chain during COVID-19 and the delay in the delivery of essential products required for manufacturing hyperbaric oxygen therapy (HBOT) devices have adversely affected the hyperbaric oxygen therapy (HBOT) devices market. The increased use of HBOT devices for treating COVID-19 patients propelled the market's growth in its latter phase.
For instance, as per the study published by the National Library of Medicine in August 2021, around 15.0% to 20.0% of hospitalized coronavirus patients with hypoxemic respiratory failure were accompanied by a need for supplemental oxygen.
In such cases, hyperbaric oxygen therapy (HBOT) was proposed as an alternative therapeutic approach to address hypoxia related to COVID-19.
Market Segmentation – By Device Type
Monoplace Chambers
The market value for monoplace chambers is likely to reach USD XX million in 2031, from its recorded value of USD XX million in 2023, growing with a CAGR of XX% during the forecast period 2024 to 2031.
They are small chambers used for hyperbaric oxygenation of a single patient. These are chambers in which the patient usually enters lying down. Monoplace Chambers are usually pressurized with medical oxygen, which is used in hyperbaric treatment. In this case, the patient does not require the use of a mask.
Patients benefit from greater comfort and privacy in monoplace chambers. Patients have greater room to walk around and can dress which ever they like.
This can ease claustrophobia and anxiety, which is crucial for patients undergoing protracted therapies. Monoplace chambers enable a regulated therapeutic setting.
Hyperbaric oxygen therapy (HBOT) requires a specially designed chamber in which the air pressure is raised more than two times above the atmospheric pressure while the patient breathes near 100% medical grade oxygen.
Hyperbaric chambers can be used to treat any condition in which gas bubbles form in the blood, including pulmonary and cerebral air embolism, altitude and decompression sickness.
In the graph mentioned, monoplace chambers trends have been increased eventually from 2019 to 2023 and it is expected have more number of devices in future.
Moreover, launches by key players also help the segment to grow during the forecast period for instance, in January 2024, US-based Sechrist Industries has unveiled two products, the eHEAL software system and the 3300HM Hyperbaric Chamber, to enhance hyperbaric medicine.
Market Segmentation – By Region
The North America in the global hyperbaric oxygen therapy devices market was valued at US$ XX million in 2023 and is estimated to reach US$ XX million by 2031, growing at a CAGR of XX% during the forecast period from 2024-2031.
North America region is expected to highest market share during the forecast period owing to the factors like, owing to the factors like increasing chronic wounds due to the growing number of chronic diseases and the rising geriatric population, Also rising product approvals and the increasing prevalence of chronic wounds.
For instance, as per the report published by the Centers for Disease Control and Prevention (CDC) in September 2022, around 22 states in the United States had adult obesity rates over 35% in the previous year. Obesity is one of the major causes of triggering chronic wounds as it leads to vascular insufficiency.
The 22 states with an adult obesity prevalence at or above 35% include Alabama, Arkansas, Delaware, Georgia, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, West Virginia, and Wisconsin.
Vascular insufficiency results in poor oxygenation, which leads to delays in normal wound healing and even tissue necrosis. Therefore, an increasing number of obesity cases in this region is anticipated to propel market growth over the forecast period.
Also, in the graph mentioned it is expected that by 2025-2030 around 335 million of Americans are expected to have chronic diseases.
Hence, the need for hyperbaric oxygen therapy is must which indeed increases the demand for the hyperbaric oxygen therapy devices market during the forecast period.
Company Share Analysis
The global hyperbaric oxygen therapy devices market is expected to be moderately competitive, owing to the presence of big brands. Also, the market is expanding due to the presence of several large and regional players entering the market.
The key players that are contributing to the growth of the global market include Perry Baromedical, HBOT Medical, AHA Hyperbarics, Hyperbaric SAC, Tekna Hyperbaric Chambers , Hauxlifesupport GmbH, PCCI, INC, HEARMEC, OxyTherapy, Gulf Coast Hyperbarics among others.
The key players are adopting strategies such as partnerships, mergers, acquisitions and regional expansion to stand out as strong competitors in the market. Novel services and enhanced focus on research and development are other ways the leading players can improve their market presence.
Perry Baromedical – Overview
Perry Baromedical is a registered medical device manufacturer. Perry Baromedical is an ISO 13485:2016 certified world leader in the manufacture, installation and service of hyperbaric oxygen therapy systems for medical application.
Perry Baromedical is a distinguished and internationally recognized brand name, with a history of more than 50 years of design innovation and quality manufacturing in its field. Perry is the only full line manufacturer of hyperbaric chambers in the industry, with its product line encompassing monoplace, dualplace, and multiplace systems.
The Company sells its products to hospitals, private clinics, medical teaching institutions, critical access and children’s hospitals, and burn institutes across the globe.
