Hyperbaric oxygen therapy (HBOT) is conventionally used to treat people suffering from medical conditions associated with rapid changes in atmospheric pressure around them. Nonetheless, it is also used to treat non-healing wounds, diabetic foot ulcers, decompression sickness (commonly seen in recreational divers), carbon monoxide poisoning, and certain types of infections, among other health problems. The HBOT involves keeping patients inside a spatial chamber known as a hyperbaric chamber, wherein they are kept breathing pure oxygen (100% saturation). The air pressure inside this chamber is higher than normal air pressure. Increased blood oxygen levels support vascular development, essential for healing in people with diabetes. Single and multiuser chambers are commercially available for these therapies; a multiuser chamber is designed to accommodate up to 6 patients at a time. Since the frequency of wounds and injuries has increased owing to the growing popularity of adventure sports, physiotherapists now recommend HBOT for serious wounds. The increasing incidences of acute and chronic wounds are fueling the global hyperbaric oxygen therapy market. However, high costs associated with the treatment hinder the growth of the market.
North America accounted for a major share of the global hyperbaric oxygen therapy market in 2022. The North America hyperbaric oxygen therapy market is segmented into the US, Canada, and Mexico. According to the report released by the Trust for America’s Health Organization in September 2022, ~22 states in the US had adult obesity rates above 35% in 2021. Obesity is a major cause of chronic wound development as it leads to vascular insufficiency. Vascular insufficiency leads to poor oxygen supply, leading to delays in normal wound healing and even tissue necrosis. Major product launches, high concentration of market players or manufacturers, acquisitions, and partnerships between key players, and increasing use of hyperbaric oxygen therapy devices in the US are a few key factors boosting the growth of the market in North America. In July 2021, the US Food and Drug Administration (FDA) approved the use of hyperbaric oxygen therapy (HBOT/HBO2) to treat various medical conditions, such as carbon monoxide poisoning, radiation injury, burns, anemia, and others. Therefore, such cases are expected to increase the demand for HBOT devices and drive market growth in the US. These factors are responsible for expanding and strengthening the hyperbaric oxygen therapy market in the region.
Asia Pacific is expected to register the fastest CAGR in the global hyperbaric oxygen therapy market during 2022–2030. The market’s growth in the region is ascribed to the growing population, surging per capita income, and increasing need for wound healing treatments. Owing to the rising disposable income levels, consumers in Asia Pacific countries are seeking technologically advanced medical treatments and therapies. Further, the increasing public awareness of the benefits of HBOT is likely to propel the hyperbaric oxygen therapy market in the coming years.
In terms of application, the hyperbaric oxygen therapy market is segmented into decompression sickness, wound healing, infectious diseases, and others. The wound healing segment held the largest market share in 2022. The same segment is expected to register the highest CAGR of 3.7% during 2022–2030. NCBI estimates that approximately 1–2% of the population from developed countries experience a chronic wound during their lifetime. The proportion is likely to be higher in emerging markets. In addition, the increasing popularity of adventure activities and recreational sports among a large part of the world’s population is also responsible for the increasing wound cases.
Wound healing usually involves healing the skin. It begins immediately after an injury to the epidermal layer and can last for years. This dynamic process involves highly organized cellular, humoral, and molecular mechanisms. It consists of three overlapping phases: inflammation, proliferation, and remodeling. Commercially accessible products such as BARA-MEDXD, BARA-MED, BARA-PRESS Software Control System, BARA-MED Select, and PAH-S1 hyperbaric chambers are mainly used for treating wounds and decompression sickness. Such a large product portfolio for wound treatment is also one of the few factors responsible for the segment’s growth.
Growing Awareness of Hyperbaric Oxygen Therapies to Provide Market Opportunities in Future
In December 2022, Aviv Clinics Dubai leveraged hyperbaric oxygen treatment innovations to support the longevity and healthy aging strategy designed by the UAE government. The personalized, holistic program enables brain and body regeneration, and improves mental, cognitive, and physical performance. It involves testing patients to evaluate the suitability of the hyperbaric oxygen treatment based on their needs. The program also includes cognitive and physical training sessions, special hyperbaric chambers, and a nutrition regime for maximizing the body’s healing process. In January 2023, Kamalaya Koh Samui, Thailand, introduced new integrative treatments at its Longevity House. They have introduced a range of new treatments to support integrative healing, including intravenous vitamin infusions, hyperbaric oxygen therapy, ozone therapy, and high-sensitivity cancer screenings. In February 2023, Maui Memorial Medical Center opened a hyperbaric oxygen therapy wound care clinic in US, providing a comprehensive approach to non-healing wounds. Similarly, HCA Florida Woodmont Hospital launched the Wound Care and Hyperbaric Center in February 2023 by partnering with wound care and hyperbaric medicine specialists. In May 2023, Hyperbaric Awareness USA unveiled the third annual national Hyperbaric Aware campaign as a part of an initiative of CutisCare to raise awareness of HBOT. Thus, the increasing awareness and acceptance of hyperbaric oxygen therapies would fuel the market growth in the coming years.
The hyperbaric oxygen therapy market, based on capacity, is segmented into monoplace and multiplace. The monoplace segment held a larger market share in 2022. The multiplace segment is anticipated to register a higher CAGR of 3.4% from 2022 to 2030.
Based on end user, the hyperbaric oxygen therapy market is segmented into hospitals and specialty centers, ambulatory surgical centers, and others. The hospitals and specialty centers segment held the largest market share in 2022. It is estimated to record the highest CAGR of 3.5% during 2022–2030.
Hyperbaric Oxygen Therapy Market: Product Overview
Based on product, the hyperbaric oxygen therapy market is divided into hyperbaric oxygen chambers, and accessories and consumables. The hyperbaric oxygen chambers segment held a larger market share in 2022 and the same segment is anticipated to register a higher CAGR of 3.5% during 2022–2030.
Hyperbaric Oxygen Therapy Market: Competitive Landscape and Key Developments
Perry Baromedical; Sechrist Industries, Inc.; Tekna Hyperbaric; Pan America Hyperbarics, Inc.; HAUX-LIFE-SUPPORT GmbH; PCCI, Inc.; Hipertech Inc.; SOS Group GBR Ltd; HEARMEC; OxyHealth; Airox Technologies Limited; and Biovision Healthcare are among the key companies operating in the hyperbaric oxygen therapy market. Leading players are implementing strategies such as expansions, new product launches, and acquisitions (companies or new clientele) for tapping prevailing business opportunities.
- In January 2023, Kamalaya Koh Samui, Thailand, introduced new integrative treatments at its Longevity House. A range of new treatments was introduced to support integrative healing, including intravenous vitamin infusions, hyperbaric oxygen therapy, ozone therapy, and high-sensitivity cancer screenings.
- In February 2023, Western University of Health Sciences (WesternU) partnered with NexGen Hyperbaric to support research related to hyperbaric oxygen therapy to treat physical and mental illnesses. The partner companies focus on cell research and clinical trials for the use of this therapy to treat patients suffering from post-traumatic stress disorder (PTSD) and traumatic brain injuries (TBIs).
- In May 2023, Hyperbaric Awareness USA introduced the third annual national Hyperbaric Aware campaign. This campaign was launched as a part of a CutisCare initiative to raise awareness of hyperbaric oxygen therapy.
- In August 2022, HBOT-India launched one of the first medical-grade hyperbaric oxygen therapies in Gurugram, Delhi NCR. Adding hyperbaric oxygen therapy to standard treatment reduces the risk of major amputation by approximately 20–30% and increases the wound healing rate by 9–10 times.
- In February 2020, Perry Baromedical Corporation acquired the hyperbaric division of Environmental Tectonics Corporation Biomedical Systems. The acquisition helped Perry Baromedical Corporation penetrate and expand into various markets in Asia Pacific. The acquisition also helped expand its installed base in the US and abroad.