A new report has been published by Technavio on the global market of HBOT (Hyperbaric Oxygen Therapy) devices. The worldwide HBOT devices market is expected to expand at the CAGR of over 7%, during 2015 – 2019.
Market Segmentation of HBOT Devices Including Geography, Application and Product Type:
The report by Technavio features an analysis of products and solutions provided by the market vendors and puts forth a comprehensive split up according to market segmentation for various products, including monotype HBOT devices as well as multiplace HBOT devices.
In addition, analysts have performed segmentation of the market projections by major geographies and applications, focusing on decompression sickness, gas embolism, infection treatment, wound healing and others.
Advances in medical field have resulted in the emergence of modern technological devices, like positron emission tomography, single-photon emission computed tomography, and magnetic resonance imaging. This has helped physicians understand better how Hyperbaric Oxygen Therapy works, and its final output during treatments, said Faisal Ghaus, Technavio’s Vice President.
Market Scope and Calculating the Market Size:
The report highlights the present scenario of the worldwide HBOT devices market and its growth prospects over 2015 – 2019. To determine the market size, the revenue generation through the application of Monoplace hyperbaric chambers and Multiplace hyperbaric chambers has been used.
Factors Included in Industry Analysis:
Market growth drivers
(a) Wider application of HBOT
(b) Greater incidence of pressure ulcers, diabetes and diabeic foot
(a) Expensive therapy
(b) Complications of HBOT
(a) Using techniques of imaging
(b) Higher popularity of the portable devices
Market Outlook of Global HBOT Devices Market:
HBOT is a non-invasive medical treatment used to boost the healing rate of the damaged tissues. In this treatment, pure oxygen is delivered to bloodstream under conditions of high pressure. The increased availability of hyperbaric chambers in varied designs and sizes, is mainly responsible for the steady rate of growth of more than 7% of this market for the forecast timespan.
The market research analyst of Technavio has estimated that the Americas would reign over all other geographies, because of the increased availability of a number of HBOT centers in U.S. Moreover, the increase in diabetic individuals is likely to boost this area’s market growth, leading to its high share in the market, of about 54% by the year 2019.
HBOT Devices Market Segmentation by Product Type:
Monoplace HBOT devices
Multiplace HBOT devices
The segment of monoplace HBOT devices dominates the market, and occupies over 79% of the whole market size. Factors such as higher safety of patients, option to discontinue oxygen supply immediately, and presence of safety exit, will lead to the high domination of this segment on the market share.
Portable hyperbaric chambers are also being widely used around the world. A portable hyperbaric chamber can be easily installed and used at home, office, clinic and anywhere else. They are convenient to carry along, which have increased their popularity.
Owing to the widespread use of Hyperbaric Oxygen Therapy to treat different medical conditions, many organizations have come forward to help the people using HBOT. International Hyperbarics Association, Inc. is a leading charitable and educational organization committed to catering to the needs of people using HBOT. It is dedicated to serving the hyperbaric community. Members reach out to the organization, from various spheres of medical field, spanning from medical centers involved in the treatment of their patients’ hyperbaric needs, to individual users of hyperbaric chambers, to corporate manufacturers of chambers. IHA is also a teaching institution, publishing and distributing papers, articles and data on the latest strides and news in Hyperbaric Oxygen Therapy.
The report gives a good insight into the global HBOT devices market. You can access the whole report here.