According to Data Bridge Market Research new Market report, global hyperbaric oxygen therapy (HBOT) market will account to an estimated USD 2.47 billion in 2018 growing at a CAGR of 6.8% during the forecast period of 2019 to 2026.
Global Hyperbaric Oxygen Therapy (HBOT) Market
Hyperbaric oxygen therapy (HBOT) is a method of treating individuals/patients, pumping pure oxygen to the internal tissues inside the body in a high atmospheric pressure surrounding. This results in oxygen being transported inside your body three times as normal which results in reduction of bacteria, and stimulation of healing organisms resulting in quicker healing timeline.
Global hyperbaric oxygen therapy (HBOT) market is segmented on the basis of product type, application and geography.
By Product Type (Monoplace HBOT Devices, Topical HBOT Devices, Multiplace HBOT Devices), Application (Wound Healing, Decompression Sickness, Infection Treatment, Gas Embolism, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN HYPERBARIC OXYGEN THERAPY (HBOT) MARKET
High number of sports injuries
According to National Safety Council, the number of sports related injuries has been high since 2015 in the United States; the top five causes of these injuries have remained constant, (i.e., exercise & exercise equipments, bicycle & accessories, basketball, american football, playground equipment). These injuries have resulted in requirement of cost-effective and efficient method for treating these particular injuries. This factor has resulted in significant rise in demand for hyperbaric oxygen therapy (HBOT).
Prevalence and adoption of sports activities is on the rise, this is expected to subsequently result in the number of injuries to remain at similar levels. This bodes well for the market of hyperbaric oxygen therapy (HBOT) in the forecast period.
Few of the major competitors currently working in the hyperbaric oxygen therapy (HBOT) market are OxyHeal International, Inc., Fink Engineering Pty. Ltd., Richmond Hyperbaric Health Center, ETC BioMedical Systems, Hearmec Co., Ltd., IHC Hytech B.V., Life healthcare, Hyperbaric SAC, Advanced Hyperbaric Recovery, Sechrist Industries, Inc., SOS Medical Group Ltd. (SOS Hyperlite Ltd), Perry Baromedical Corporation, HAUX-LIFE-SUPPORT GmbH, Healogics and Gulf Coast Hyperbarics, Inc.
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