Hyperbaric Oxygen Therapy Devices Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Hyperbaric oxygen therapy (HBOT) devices are specialized medical equipment used to administer hyperbaric oxygen therapy. HBOT involves breathing pure oxygen in a pressurized chamber, allowing the lungs to gather more oxygen than would be possible at normal air pressure. The oxygen supply is delivered to the body’s tissues and organs, promoting various therapeutic effects.

Sizing and Forecast
The hyperbaric oxygen therapy devices market size has grown strongly in recent years. It will grow from $3.82 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increasing prevalence of chronic wounds, diabetic ulcers, and other conditions, rising adoption of hyperbaric oxygen therapy (HBOT) for treating decompression sickness, growing awareness about the therapeutic benefits of HBOT for neurological disorders, expansion of healthcare infrastructure, and rising government initiatives and funding programs promoting research and development.

The hyperbaric oxygen therapy devices market size is expected to see strong growth in the next few years. It will grow to $6.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to a growing aging population, growing incidence of diabetes, increasing investment in research and clinical trials to explore new indications and optimize HBOT protocols, growing demand for portable and transportable hyperbaric chambers, and rising healthcare expenditure and insurance coverage for HBOT. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning algorithms, development of hyperbaric oxygen therapy apps and software platforms, adoption of hyperbaric oxygen therapy in combination with other regenerative medicine modalities, introduction of wearable hyperbaric oxygen devices, and use of hyperbaric chambers in sports performance optimization and recovery programs for athletes, coaches, and fitness enthusiasts.

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Segmentation & Regional Insights
The hyperbaric oxygen therapy devices market covered in this report is segmented –

1) By Type: Monoplace Hyperbaric Oxygen Therapy Devices, Multiplace Hyperbaric Oxygen Therapy Devices, Topical Hyperbaric Oxygen Therapy Devices
2) By Application: Wound Healing, Decompression Sickness, Infection Treatment, Gas Embolism, Other Applications
3) By End User: Hospitals, Home Care, Other End Users

North America was the largest region in the hyperbaric oxygen therapy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hyperbaric oxygen therapy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rise in diabetes prevalence is expected to propel the growth of the hyperbaric oxygen therapy device market going forward. Diabetes refers to a group of chronic metabolic disorders characterized by high blood sugar levels over a prolonged period of time. The diabetes cases are on rise due to sedentary lifestyles, unhealthy dietary habits, obesity, genetic predispositions, aging populations, urbanization, and socioeconomic factors. Hyperbaric oxygen therapy devices offer a complementary approach to managing diabetes by facilitating wound healing and tissue repair through the delivery of high-pressure oxygen, thereby potentially reducing the risk of complications such as diabetic foot ulcers and improving overall outcomes for individuals with diabetes. For instance, in June 2023, according to the data published by the Institute for Health Metrics and Evaluation (IHME), a US-based independent population health research center, global diabetes cases are expected to surge from 529 million in 2023 to 1.3 billion by 2050. The global prevalence rate at 6.1%, is projected to rise dramatically. At the super-region level, the highest prevalence rate, currently at 9.3% in North Africa and the Middle East, is forecasted to increase to 16.8% by 2050. Therefore, a rise in diabetes prevalence is driving the hyperbaric oxygen therapy device market.

Key Industry Players
Major companies operating in the hyperbaric oxygen therapy devices market are Healogics LLC, SOS Medical Group Ltd., Environmental Tectonics Corporation, Sechrist Industries Inc., BioBarica, Perry Baromedical Corporation, Shanghai Baobang Medical Equipment, Hyperbaric Modular Systems Inc., BAROKS Hyperbaric, HAUX-LIFE-SUPPORT GmbH, Hyperbaric SAC, Pan America Hyperbarics Inc., AHA Hyperbarics, Fink Engineering Pty Ltd, Gulf Coast Hyperbarics, Hyperbaric Medical Solutions, NHC Medical And Beauty, OxyHeal Health Group, Royal IHC, The Oxybarica Group, Hpotech Medical Solutions, Jiangsu Haila Resuscitation Equipment Co. Ltd., OxyHelp Industry SRL, Oxyvein Hyperbaric Chambers, HBOT Medical

The hyperbaric oxygen therapy devices market report table of contents includes:

1. Executive Summary
2. Hyperbaric Oxygen Therapy Devices Market Characteristics
3. Hyperbaric Oxygen Therapy Devices Market Trends And Strategies
4. Hyperbaric Oxygen Therapy Devices Market – Macro Economic Scenario
5. Global Hyperbaric Oxygen Therapy Devices Market Size and Growth
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32. Global Hyperbaric Oxygen Therapy Devices Market Competitive Benchmarking
33. Global Hyperbaric Oxygen Therapy Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hyperbaric Oxygen Therapy Devices Market
35. Hyperbaric Oxygen Therapy Devices Market Future Outlook and Potential Analysis
36. Appendix

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