Vision Research Report, Recently Announced New Report on “hyperbaric oxygen therapy devices market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.
Global “hyperbaric oxygen therapy devices market” Report 2021 covering manufacturers, regions, segments, forecast to 2030 is that the recent research report with correct information and extremely authentic info. The report provides insights on market share, market size, rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. The hyperbaric oxygen therapy devices research report focuses on the competitive surroundings that has section on company profile covering product specifications, geographical coverage, recent developments, revenue analysis, and market shares. what is more, the report offers strategic recommendations so as to help the consumers to align business goals.
The hyperbaric oxygen therapy devices market revenue share is set to grow at a yearly rate of X% during 2021-2030, while its valuation is Projected to jump from $ 2.89 Bn in 2020 to $5.3 Bn in 2030.
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Report Highlights
Monoplace HBOT devices emerged as the leading product category and accounted for over 76% of the total revenue in 2020. The commercial availability of monoplace systems and the high adoption of such devices, due to ease of handling and less requirement of hospital gas supply are some of the key factors that can be accounted for its revenue share in 2016. The market is majorly dominated by few products such as BARA-MEDXD, BARA-MED, BARA-MED Select by ETC Hyperbaric Chambers (Environmental Tectonics Corporation); PAH-S1 Hyperbaric Chamber & PAH-S1-3800 Hyperbaric Chamber by Pan-America Hyperbarics, Inc.
Moreover, the monoplace HBOT devices segment is anticipated to exhibit the highest growth rate. The growing demand for monoplace systems in hospitals & clinics due to its higher availability in the market and ease in installation is also one of the pivotal factors, which is expected to further drive the market. The technological advancement related to monoplace systems such as portability and some other features such as user-friendly operability and low maintenance costs are a few of the factors that are expected to propel the HBOT Equipment market growth over the coming few years.
Some of the frequently used & commercially available multiplace systems include OxyHeal 5000 rectangular multiplace hyperbaric chamber, OxyHeal 4000 multiplace hyperbaric chamber, and decompression hyperbaric chamber. Multiplace hyperbaric chamber maintained its position as the second fastest growing segment. Multiplace systems are more expensive and require more workforce to maintain & operate. However, the growing requirement of treating higher number of patients in one cycle has resulted in increased demand for such systems in large-scale hospitals, which is anticipated to drive the hyperbaric oxygen therapy devices market over the forecast period.
In addition, these devices can accommodate huge number of patients with various conditions and also facilitate monitoring by medical staff for every patient’s signs and symptoms. Thus, the overall cost of the services for patients is low as compared to monoplace devices, which also raises the adoption rate of such devices. One of the key Unique Selling Propositions (USPs) of multiplace chambers is that they allow extended patient treatment time. The increasing awareness among the hospital professionals regarding the benefits of this system is anticipated to boost the HBOT Equipment market.
Within application segments, wound healing was the largest segment in 2020 owing to the growing global prevalence of chronic & acute wounds and wound site infection. In the U.S., chronic wounds affect approximately 6.5 million patients and they spend over USD 25.00 billion annually for the treatment of chronic wounds. The rising healthcare costs, increasing prevalence of obesity & diabetes, and growing aging population are some of the key factors that result in surging demand for treatment of chronic and acute wounds. These factors can be accounted for majority of the revenue share held by the wound healing segment.
According to the estimates reported in the NCBI, about 1 to 2% of the total population of developed nations will experience a chronic wound in their lifetime. In emerging economies, the share is expected to be higher. Moreover, the rising threat of chronic wounds due to increasing prevalence of diabetes and obesity is also among some of the contributing factors.
The increasing popularity of adventure activities and leisure sports amongst majority of the global population is also responsible for driving the need for HBOT systems in wound healing applications. In addition, the commercially available products such as BARA-MEDXD, BARA-MED, BARA-MED Select, BARA-PRESS Software Control System, and PAH-S1 Hyperbaric Chamber are majorly used for wound healing and decompression sickness. The presence of such a huge product portfolio for the treatment of chronic wounds is also among few factors that can be accounted for the largest market share.
However, the others segment witnessed the highest growth rate with a CAGR of 8.2% from 2017 to 2025. The increasing number of clinical trials with hyperbaric oxygen therapy equipment for conditions such as periodontitis, diabetes mellitus, aging, hypoxic-ischemic encephalopathy, and diabetic foot ulcer outcome is one of the key determinants that indicates the lucrative growth of the other segment. Some of the sponsors of these clinical trials are Loma Linda University and Nanfang Hospital of Southern Medical University.
North America was the leading segment and accounted for around 32% of the total revenue in 2020. Emerging economies such as India, China, Philippines, Vietnam, and Brazil have been experiencing strong economic growth. Increasing population and rising need for wound healing treatment have spurred the demand for HBOT in the region. Growing disposable income has triggered consumers to avail of technologically advanced medical treatment and therapies.
The U.S. was the leading market in 2020 and is also anticipated to hold largest revenue share over the forecast period. According to the American Venous Forum, advanced venous diseases characterized by skin changes and leg ulceration affect over 2.5 million people annually in the U.S. The increasing prevalence of chronic & acute wounds and simultaneously growing treatment rate due to the presence of developed healthcare technology, growing healthcare expenditure by the government, and huge disposable income is some of the factors that are expected to boost the market over the coming years.
Global hyperbaric oxygen therapy devices market report provides key statistics on the state of the trade and could be a valuable supply of steerage and direction for corporations and people curious about the market. The hyperbaric oxygen therapy devices trade trends and promoting channels analysed. hyperbaric oxygen therapy devices Market discovers numerous topics like regional market scope, product market numerous applications, market size consistent with specific product, sales and revenue by region, producing analysis, Industrial Chain, Market result Factors Analysis, market size forecast, and more. Finally, the practicableness of latest investment comes is evaluated and overall analysis conclusions offered.
Key Players
Fink Engineering; ETC Hyperbaric Chambers (Environmental Tectonics Corporation); HAUX-LIFE-SUPPORT; Gulf Coast Hyperbarics, Inc.; HEARMEC; IHC Hytech B.V. (Royal IHC); Hyperbaric SAC; Sechrist Industries, Inc.; OxyHeal International; and SOS Group Global Ltd.
Market Segmentation
Global Hyperbaric oxygen therapy devices Market: Drivers and Restrains
The analysis report has incorporated the analysis of various factors that augment the market’s growth. It constitutes trends, restraints, and drivers that remodel the market in either a positive or negative manner. This section additionally provides the scope of various segments and applications that may probably influence the market within the future. The elaborated info is predicated on current trends and historic milestones. This section additionally provides an analysis of the amount of production regarding the world market and regarding every kind from 2021-2030.
COVID-19 impact on the Hyperbaric oxygen therapy devices market
COVID-19 is associate communicable disease caused by the novel coronavirus. for the most part unknown before this happening across the world, COVID-19 has captive from a regional crisis to a worldwide pandemic in precisely a matter of a number of weeks. the world Health Organization (WHO) declared COVID-19 as an epidemic on March 11, 2021.
COVID-19 has compact most the industries across the world by disrupting provide chains and impeding numerous industrial operations. COVID-19-responsive measures undertaken by governments, like lockdown and social distancing, led to the closure of producing plants in the initial stage of the pandemic. With only a few industrial operations allowed, the demand for numerous input product within the industrial sector has declined considerably.
Key Highlights Involved in the Market Research Report: –
hyperbaric oxygen therapy devices Market Study Coverage: It includes key market segments, key makers covered, the scope of product offered within the years thought of, world hyperbaric oxygen therapy devices Market and study objectives. in addition, it touches the segmentation study provided within the report on the idea of the sort of product and applications.
Hyperbaric oxygen therapy devices Market executive Summary: This section emphasizes the key studies, market rate, competitive landscape, market drivers, trends, and problems additionally to the gross indicators.
Hyperbaric oxygen therapy devices Market Production by Region: The report delivers knowledge associated with import and export, revenue, production, and key players of all regional markets studied area unit coated during this section.
Hyperbaric oxygen therapy devices Market Profile of Manufacturers: Analysis of every market player profiled is elaborated during this section. This section conjointly provides SWOT analysis, products, production, value, capacity, and different very important factors of the individual player.
The report delivers a comprehensive study of all the segments and shares info concerning the leading regions within the market. This report additionally states import/export consumption, offer and demand Figures, cost, business share, policy, price, revenue, and gross margins.
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