Global Hyperbaric Oxygen Therapy (HBOT) Devices Market, by Product Type (Monoplace HBOT Devices, Multiplace HBOT Devices, and Topical HBOT Devices), by Application (Wound Healing, Decompression Sickness, Infection, Gas Embolism, and Others), by End User (Hospital & Clinics, Ambulatory Surgery Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 2255.3 million in 2018, and is expected to exhibit a CAGR of 6.6% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.

Rising number of diabetic foot ulcers is expected to drive demand for hyperbaric oxygen therapy devices which is expected to augment the market growth over the forecast period. For instance, according to the National Center for Biotechnology Information, in 2015, the incidence of diabetic foot ulcers (DFU) ranged from 4% to 10% among hospitalized patients in China.

Increasing expansion strategies by market players is expected to drive the market growth over the forecast period. For instance, in May 2017, AHA Hyperbarics GmbH, announced the launch of its subsidiary AHA Hyperbarics Australia Pty Ltd, in Australia, in order to expand the company’s business and product offerings.

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Browse 38 Market Data Tables and 26 Figures spread through 173 Pages and in-depth TOC on ‘Hyperbaric Oxygen Therapy Devices Market’- Global Forecast to 2027, Global Hyperbaric Oxygen Therapy (HBOT) Devices Market, by Product Type (Monoplace HBOT Devices, Multiplace HBOT Devices, Topical HBOT Devices), by Application (Wound Healing, Decompression Sickness, Infection, Gas Embolism and Others), by End User (Hospital & Clinics, Ambulatory Surgery Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),

North America is expected to hold a dominant position in the hyperbaric oxygen therapy devices market over the forecast period, owing to rising number of diabetic foot ulcers and non-healing wounds in the region. For instance, according to Centers for Disease Control & Prevention (CDC), in 2016, 23.6 million people suffered from diabetes, which is 7.8% of the total population in the U.S. One third of the diabetic population in the U.S also suffered from lower extremity wounds.

Markets in Africa and Middle East are expected to witness growth in the hyperbaric oxygen therapy devices market over the forecast period due to increasing strategic partnerships by market players in the region to enhance their market presence. For instance, in June 2018, Sechrist Industries, Inc. announced the partnership with Dartmouth College's Geisel School of Medicine to bring Hyperbaric Oxygen Therapy (HBOT) in Tanzania, East Africa. The therapy will be used for treatment of chronic bone infections, severe anemia, non-healing hypoxic wounds and other conditions.

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Also, market players are enhancing their market presence by opening new centers in the region. For instance, in September 2019, BioBarica, announced the launch of Buenos Aires, Argentina, in order to offer the hyperbaric oxygen therapy in the Argentina region.

Key Takeaways of the Hyperbaric Oxygen Therapy Devices Market:

The global hyperbaric oxygen therapy devices market is expected to exhibit a CAGR of 6.6% over the forecast period, owing to expansion strategies adopted by market players. For instance, in December 2019, BioBarica announced the launch of a new center located at Sevilla, Spain, for offering hyperbaric oxygen therapy in the Europe.

Key players operating in the global hyperbaric oxygen therapy devices market are Fink Engineering Pty Ltd., Gulf Coast Hyperbarics, Inc., SOS Medical Group Ltd., IHC Hytech B.V., ETC BioMedical Systems, Haux-Life-Support GmbH, Sechrist Industries, Inc., GWR Medical, Inc., Hyperbaric Modular Systems, Inc., Hearmec Co., Ltd., and Premier Hyperbarics.

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