Hyperbaric Oxygen Therapy (HBOT) Devices Market Size and Trends

The Global Hyperbaric Oxygen Therapy (HBOT) Devices Market is estimated to be valued at USD 3.61 Bn in 2024 and is expected to reach USD 5.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

Key Takeaways of the Hyperbaric Oxygen Therapy (HBOT) Devices Market:

By product, the monoplace HBOT devices segment is estimated to contribute the highest share of the market with 43.1% in 2024.
By application, the wound healing segment is expected to contribute the highest share of the market with 37.1% in 2024.
By end user, the hospitals segment is expected to contribute the highest share of the market with 41.2% in 2024.
North America is expected to top the global market with 35.3% share, followed by Asia Pacific with 27.7% share in 2024.

Market Overview:

The growing adoption of Hyperbaric Oxygen Therapy (HBOT) devices for various disease indications such as soft tissue injuries, air or gas embolism, and healing chronic wounds is expected to drive the market growth during the forecast period. The global Hyperbaric Oxygen Therapy (HBOT) devices market is expected to witness a steady growth owing to the rising prevalence of chronic wounds, increasing incidence of conditions such as diabetic wounds and infections where HBOT proves to be an effective therapeutic solution. Furthermore, rising awareness about the therapeutic benefits of HBOT and growth in healthcare expenditure are also contributing to the growth of global hyperbaric oxygen therapy (HBOT) devices market.

Hyperbaric Oxygen Therapy (HBOT) Devices Market Concentration By Players

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Key Developments:

In January 2024, Sechrist Industries, a U.S.-based company, introduced the eHEAL software system and the 3300HM Hyperbaric Chamber to advance hyperbaric medicine. The eHEAL system offers automated treatment logging, real-time parameter display, and report generation while supporting multi-chamber connectivity via Ethernet.
In February 2023, Western University of Health Sciences (WesternU) partnered with NexGen Hyperbaric, a Physiotherapy Center to advance research on hyperbaric oxygen therapy for addressing physical and mental health conditions. The collaboration emphasizes cellular studies and clinical trials focused on traumatic brain injury (TBI) and post-traumatic stress disorder (PTSD).
In January 2023, ADK Hospital, aprivate tertiary care hospital in Maldives, became the first medical facility in the Maldives to launch a Hyperbaric Treatment Unit, also known as a decompression chamber

Top Strategies Followed by Global Hyperbaric Oxygen Therapy (HBOT) Devices Market Players

Established Players: Leading companies like Sechrist Industries focus on extensive research and development to innovate high-performance hyperbaric oxygen therapy (HBOT) devices. In June 2023, Sechrist announced an investment of over US$ 5 million in R&D to enhance its HBOT technology, aiming for improved safety and efficacy.
Focusing on delivering quality, budget-friendly products targets price-sensitive consumers. Companies like OxyHealth offer portable HBOT devices, catering to a broader market segment. Partnerships aimed at enhancing technology and production capabilities are common. Collaborations between startups and established companies have led to the development of advanced HBOT devices.
Small players often target niche markets. Targeting niche markets with unique features or innovative products allows small players to differentiate themselves. Startups focusing on portable and home-use HBOT devices cater to specific consumer needs.

Emerging Startups - Hyperbaric Oxygen Therapy (HBOT) Devices Industry Ecosystem

Innovative startups are developing advanced technologies. Hipore Healthcare is creating smart sensors to continuously monitor treatment parameters. BARAmedics uses AI to analyze physiological responses and optimize therapy protocols. This has the potential to personalize care delivery.
Some startups focus on sustainability. OxyGreen manufactures chambers using recyclable polyethylene and bio-based resins, reducing carbon footprint. Rechambers collects used chambers for refurbishment and parts harvesting in partnership with Emergency Care Research Institute (ECRI).
Startups also address unique market needs. Oxynova is commercializing a portable pediabarbic device for diabetes wound care in home settings. Subasea partnered with medical institutions to provide aquatic rehabilitation for Parkinson's using HBOT. Partnerships with other companies or institutions drive technological and sustainable innovation. Collaborations in the HBOT sector have led to the development of more accessible treatment options.