Hyperbaric oxygen therapy devices Market Size, Growth, Trends, Share and Analysisaanikhil | August 20, 2019 | 0 | Pharmaceutical and Healthcare
Hyperbaric oxygen therapy devices market
The market for hyperbaric oxygen therapy HBOT systems is motivated by the increasing incidence of acute and chronic wounds, increasing the implementation of HBOT systems in cosmetic procedures and wound healing, and advances in technology.
HBOT instruments are used in chronic diabetes-related problem fractures, venous or arterial insufficiency, crush injury, and tissue / wound harm induced by late radiation therapy impacts. The chronic wounds place a substantial strain on the person, the healthcare system, and the whole community. According to National Health Services NHS projections, it is estimated that 1.5 percent of the UK population has a leg ulcer. In addition, according to the 2016 annual audit of the NHS Benchmarking, about 39 percent of the workload of a district nursing service is attributed to wound care. According to the 2017 research released by Guest J, Venous Leg Ulcer Management in Clinical Practice in the UK: Costs and Outcomes, the annual cost of handling injuries in the NHS and related comorbidities was estimated at EUR 5.3 billion, which is more than what is on par with the price of obesity treatment. As a result, the increasing incidences and incidence of acute and chronic wounds are anticipated to drive the development over the forecast period of the market for hyperbaric oxygen therapy HBOT devices.
Scope of the report:
According to the scope of this study, the word hyperbaric oxygen therapy involves breathing oxygen in pressurized rooms where the atmospheric pressure is 3 times greater than ordinary, enabling the lungs to absorb 3 times more oxygen than ordinary air pressure. Hyperbaric oxygen therapy increases the amount of oxygen that can enhance essential tissue function in injury regeneration and infection control.
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Key market trends: –
Monoplace HBOT is the segment under application that is expected to grow fastest during the forecast period:
Due to factors such as commercial accessibility of monoplace technologies and strong acceptance of such devices, ease of handling and less hospital gas supply requirement, the monoplace HBOT segment retained a maximum share in 2018. The market is 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. In the prediction era, the single-place HBOT devices segment is anticipated to record a strong development rate owing to increasing demand for monoplace synthetics.
North America is estimated to hold largest share in the market:
Due to factors such as rising disposable income, increasing population, and the increasing need for wound healing treatment, the North American region is expected to dominate the market, which has driven demand for HBOT in the region. Human skin injury is a important indirect threat to the economy, according to the National Institutes of Health, as the government takes responsibility for public therapy. This has resulted the government to invest enormous quantities of cash to develop efficient techniques of therapy. U.S. research has shown that the incidence of non-healing cutaneous injuries in the nation is about 5 to 7 million per year. For these injuries, the comparative expenditure is about USD 25 billion. The cost burden on the US healthcare system was so severe that medical services and healthcare centers made changes to the wound care reimbursement policy, providing hospitals with economic incentives to improve and reduce costs. The development of the hyperbaric oxygen treatment HBOT devices market is anticipated to drive all of the above-mentioned factors.
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A moderately competitive market for hyperbaric oxygen therapy HBOT devices is made up of several major players. The businesses are implementing some strategic measures such as mergers, fresh product launches, acquisitions, and alliances to assist them strengthen their market positions.
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