According to the Centers for Disease Control and Prevention (CDC), over 30 million Americans had diabetes in 2017. Increased blood oxygen levels brought on by HBOT aid in the development of vessels, which is essential for people with diabetes. As a result, the market for hyperbaric oxygen therapy is growing. Due to the significant increase in the frequency of wounds and injuries brought on by the growing popularity of adventure sports, physiotherapists now advise HBOT for serious wounds. HBOT is used to treat various medical conditions. The increased oxygen levels in the body can enhance the healing of certain wounds and promote the repair of damaged tissues. It's commonly employed for conditions such as non-healing wounds, diabetic foot ulcers, decompression sickness (commonly seen in scuba divers), carbon monoxide poisoning, and certain types of infections will eventually result in the growth of the global hyperbaric oxygen therapy (HBOT) market.
Data Bridge Market Research analyses that the global hyperbaric oxygen therapy (HBOT) market which was USD 3.71 billion in 2022, is expected to reach USD 7.61 billion by 2030, and is expected to undergo a CAGR of 9.40% during the forecast period of 2023 to 2030. “Wound healing” dominates the application segment of the global hyperbaric oxygen therapy (HBOT) market owing to it superiority in healing the wounds. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Definition
Hyperbaric Oxygen Therapy (HBOT) is a medical treatment that involves breathing pure oxygen in a pressurized environment. Typically, this is done in a special room or chamber. The pressure in the chamber is increased to a level higher than atmospheric pressure, allowing the lungs to gather more oxygen than would be possible breathing pure oxygen at normal air pressure. In addition, there is ongoing research exploring its potential benefits for conditions such as traumatic brain injuries and neurological disorders.
Drivers
- Expanding Indications of hyperbaric oxygen therapy
Ongoing research continues to unveil new therapeutic possibilities for HBOT, extending beyond its traditional applications. For instance, studies exploring its efficacy in traumatic brain injuries, chronic inflammatory conditions, and even certain aspects of regenerative medicine are broadening the range of conditions for which HBOT may be considered. As these indications expand, healthcare providers are more likely to incorporate HBOT into their treatment strategies, further driving its growth.
- Increasing Awareness among People
The dissemination of accurate information about HBOT through educational initiatives, medical conferences, and media coverage contributes to heightened awareness among both healthcare professionals and the public. Understanding the diverse applications and benefits of HBOT fosters informed decision-making, encouraging more individuals to explore it as a viable therapeutic option. Increased awareness also helps mitigate misconceptions surrounding the therapy, paving the way for its broader acceptance within the medical community and among potential recipients of the treatment.
Recent Developments
- In February 2020, Environmental Tectonics Corporation Biomedical Systems' hyperbaric segment was purchased by Perry Baromedical Corporation. Perry Baromedical Corporation expanded and penetrated markets in the Asia-Pacific region thanks to the acquisition. In addition, the acquisition improved the installed base both domestically and internationally
- In November 2019, At the MEDICA trade fair in Germany, AHA Hyperbarics GmbH unveiled the AHA Flex V2 hyperbaric system. The AHA Flex V2 hyperbaric system is used to treat diabetic foot ulcers, crush injuries, and cerebrovascular insult (CVI). This grid-powered device, which consists of two bags, operates on a 2.0 bar
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