U.S. Hyperbaric Oxygen Therapy (HBOT) Market is growing with factors such as increased incidence of chronic wounds and technological advancements. However, the high cost of manufacturing hyperbaric oxygen therapy (HBOT) along with the side effects of HBOT may obstruct the growth of the market in the given forecast period.
Hyperbaric oxygen therapy (HBOT) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.7% in the forecast period of 2021 to 2028 and is expected to reach USD 124.86 million by 2028 from USD 81.70 million in 2020. Rising awareness regarding HBOT and technological advancement in hyperbaric oxygen therapy (HBOT) is the major drivers which propelled the demand of the market in the forecast period.
Hyperbaric oxygen therapy (HBOT) devices supply 100 percent pure oxygen to tissues in the body at a higher atmospheric pressure. In hyperbaric oxygen chambers or devices, air pressure is elevated one to three times higher than normal atmospheric pressure, which kills germs and increases the production of growth factors, promoting better healing.
The growing prevalence of acute and chronic wounds, as well as the rising incidence of wound site infections, are driving the growth of the U.S. hyperbaric oxygen therapy (HBOT) market. Furthermore, throughout the projected period, an increase in the demand for leisure adventure activities is expected to boost the growth of the U.S. hyperbaric oxygen therapy (HBOT) market.
However, the high cost of hyperbaric oxygen therapy (HBOT) devices and the lack of reimbursement coverage are limiting the hyperbaric oxygen therapy (HBOT) market growth. These constraints may also impede future product development and demand for hyperbaric oxygen therapy (HBOT) equipment.
Hyperbaric oxygen therapy (HBOT) market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
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U.S. hyperbaric oxygen therapy (HBOT) Market Scenario
According to Data Bridge Market Research, the market for the U.S. hyperbaric oxygen therapy (HBOT) market is growing at a significant CAGR, and the market leader is PCCI, INC., which accounts for an estimated market share of approximately 35% to 40%. The company has gained outstanding sales through providing hyperbaric oxygen therapy (HBOT).In February 2020, Perry Baromedical announced that it had acquired the hyperbaric division of Environmental Tectonics Corporation (ETC) in Southampton, U.S. This acquisition done by the company has strengthened its product portfolio, leading to increased sales and demand in the future.
U.S. Hyperbaric Oxygen Therapy Market Scope and Market Size
The hyperbaric oxygen therapy (HBOT) market is segmented on the basis of type, applications, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the U.S. hyperbaric oxygen therapy (HBOT) market is segmented into monoplace, multiplace, and topical HBOT devices. In 2021, the monoplace segment is expected to dominate the U.S. hyperbaric oxygen therapy (HBOT) due to variables such as the commercial availability of monoplace systems and their widespread use, as well as the ease of handling and reduced hospital gas supply requirements.
- On the basis of application, the U.S. hyperbaric oxygen therapy (HBOT) market is segmented into injuries, infection, insufficiencies, wound healing, and others. In 2021, the wound healing segment is expected to dominate the U.S. hyperbaric oxygen therapy (HBOT) due to the prevalence of acute and chronic wounds in the U.S.
- On the basis of end-user, the U.S. hyperbaric oxygen therapy (HBOT) market is segmented into hospitals and clinics, ambulatory surgery centers, outpatient clinics, standalone hyperbaric treatment centers, and others. In 2021, the hospitals and clinics segment is expected to dominate the U.S. hyperbaric oxygen therapy (HBOT) due to rapid developments in healthcare infrastructure and improving access to healthcare services in hospitals and clinics.
The major players covered in the report are Hyperbaric SAC, Gulf Coast Hyperbarics, Inc., HYPERBARIC MODULAR SYSTEMS, INC. (HMS), Newtowne Hyperbarics, AHA Hyperbarics GmbH, Sechrist Industries, Inc., Tekna Hyperbaric, Pan America Hyperbarics, Inc., HAUX-LIFE-SUPPORT, Hipertech Electronics Inc., OxyHealth, Unique Group, Fink Engineering, Perry Baromedical and PCCI, INC. among others domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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