Global Hyperbaric Oxygen Therapy (HBOT) Market Report and Forecast 2024-2032

Global Hyperbaric Oxygen Therapy (HBOT) Market Outlook

The global market size for hyperbaric oxygen therapy (HBOT) reached a value of more than USD 3.72 billion in 2023. The global hyperbaric oxygen therapy (HBOT) market is expected to grow at a CAGR of 6.30% between 2024 and 2032, reaching a value of USD 6.43 billion by 2032.  

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Key Trends in the Market

Hyperbaric oxygen therapy is a treatment in which the patient is administered pure oxygen under increased atmospheric pressure in a small chamber or in a small room specially designed for the treatment. It can be used to treat various illnesses or diseases such as anaemia, sinus infections, skin grafts, osteomyelitis, fire burns, and radiation injuries, among other conditions. 

• Hyperbaric oxygen therapy can independently and effectively treat some disorders such as carbon monoxide poisoning, decompression sickness, and arterial gas embolisms while it can treat some conditions in combination with other treatments based on requirement.

• Technological advancements in hyperbaric oxygen therapy have facilitated the growth of the entire market at a faster rate. Hyperbaric oxygen therapy is being explored for other treatment of other conditions such as Alzheimer’s, wound healing, and various other such diseases and conditions.

• Hyperbaric oxygen therapy is less invasive and has produced substantial results, due to which the accessibility to such treatments is expected to increase in the coming years, with the further growth of the hyperbaric oxygen therapy (HBOT) market.

Market Analysis

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Based on product, the market can be divided into multiplace oxygen chambers, monoplace oxygen chambers, and topical oxygen chambers. On the basis of application, the market is segmented into wound healing, decompression sickness, infection treatment, and gas embolism, among others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global hyperbaric oxygen therapy (HBOT) market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• Perry Baromedical Corporation

• Tekna Hyperbaric

• Sechrist Industries, Inc.

• SOS Group GBR Ltd

• Environmental Tectonics Corporation

• Others

Market Share by Product

Monoplace oxygen chambers account for a leading share in the hyperbaric oxygen therapy (HBOT) market because of their commercial availability. Moreover, they are easy to operate and consume limited gas supplies in the hospitals, as compared to other oxygen chambers. 

Multiplace oxygen chambers can hold up to 6 patients at one time while monitoring the mix of oxygen and gases, and the balance of the water vapour. They typically require large spaces for setup, decreasing their suitability for smaller hospitals. Topical oxygen chambers supply oxygen either through the surface of the wounds or through pressure devices, and are popular due to their flexibility.  

Market Share by Region

North America is expected to hold a leading share in the market because of high expenditure in the healthcare sector, regulatory approval, and increase in demand for advanced medical and healthcare products and procedures. 

The Asia Pacific region is also expected to observe growth in the forecast period due to the increasing adoption and popularity of hyperbaric oxygen therapy among the public and hospitals to treat a number of prevailing conditions. Countries in the Asia Pacific are also investing in healthcare infrastructure and new treatment protocols, offering opportunities for the hyperbaric oxygen therapy (HBOT) market.

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Competitive Landscape

Perry Baromedical Corporation is an internationally recognised medical device company that was established in 1956 with headquarters in Florida, United States. It manufactures, tests, designs, installs, and provides services for hyperbaric oxygen therapy systems. 

Tekna Hyperbaric founded in 1989 is headquartered in Tamil Nadu, India. It designs and manufactures monoplace hyperbaric and multiplace hyperbaric chambers for sale, use for training purposes, and for hyperbaric medicine. 

Sechrist Industries Inc. was founded in 1973 and is based out of California in the United States. It is a medical equipment manufacturing company that produces and provides hyperbaric chambers for lifesaving therapy. 

Other market players include SOS Group GBR Ltd, and Environmental Tectonics Corporation, among others.

Key Highlights of the Report