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Hyperbaric oxygen therapy (HBOT) is a medical procedure in which the patient is enclosed in a total body chamber, inhaling 100% pure oxygen (O2) which is not present at normal atmospheric pressure. HBOT involves the patient breathing in at least five times the oxygen than in normal air, where oxygen is composed of 21% of the total composition and the composition of nitrogen is at 78%.
HBOT is a well-established treatment for a variety of illnesses such as decompression sickness, serious infection, diabetic injuries, radiation injuries, and the presence of bubbles in blood vessels. HBOT involves inhaling oxygen at high concentrated levels, which leads the blood carrying greater amounts of oxygen throughout your body. HBOT functions by fighting bacteria and stimulating the release of substances called growth factors and stem cells, which promote healing.
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HBOT alone effectively treats disorders such as arterial gas embolism and severe carbon monoxide poisoning and in combination with other therapies can treat disorders according to individual requirements. The Food and Drug Administration (FDA) has approved 13 medical uses of the hyperbaric oxygen therapy (HBOT) till date.
One of the key market drivers that is contributing to the considerable growth of the hyperbaric oxygen therapy (HBOT) market is the regulatory approval for a number of indications such as pulmonary embolism, severe anemia, decompression sickness, burns and brain abscesses to name a few out of the thirteen approved indications.
The global HBOT market is expected to register significant growth due to the technological advancements and the ability of the procedure to effectively treat carbon monoxide poisoning, decompression sickness, and arterial gas embolism.
The factor that is expected to inhibit the growth of the market is the huge price tag associated with hyperbaric oxygen therapy (HBOT) products. Combined with this, lack of accessibility of HBOT devices in emerging nations can hamper the growth of the global HBOT market during the forecast period.
Some of the major companies that are present in the global hyperbaric oxygen therapy (HBOT) market are Sechrist Industries, Inc., Perry Baromedical, Environmental Tectonics Corporation, Fink Engineering, OxyHealth, Gulf Coast Hyperbarics Inc., Hearmec Co. Ltd, IHC Hytech BV, SOS Medical Group Ltd and Hyperbaric SAC and other players.
· Monoplace oxygen chambers
· Multiplace oxygen chambers
· Topical oxygen chambers
· Portable oxygen chambers
· Decompression Sickness
· Wound Healing
· Infectious diseases
· Gas Embolism
· Carbon monoxide poisoning
By End Users
· Ambulatory care centers
· Outpatient clinics
· Standalone hyperbaric treatment centers
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
At present, mono oxygen chambers accounts for the largest proportion of the global HBOT market, due to the commercial availability of the chambers, relative ease in terms of operation and associated advantages such as the comparatively lesser usage of the hospital gas supply.
The global hyperbaric oxygen therapy (HBOT) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to hold a major share of the market owing to the extensive regulatory approvals, high healthcare expenditure, and demand for technologically advanced medical procedures. In the Asia Pacific, Japan is expected to hold significant share of the market owing to increasing popularity of the HBOT amongst general population and higher adoption of the systems with aim to treat number of diseases such as decompression sickness and the R&D of the new hyperbaric oxygen therapy devices.
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