HYPOXIA CHAMBER MARKET ANALYSIS

Hypoxia is a condition in which the animal culture does not get enough oxygen for supply and oxygen therapy is provided in the complete absence of oxygen, so that the tissue can get oxygen in sufficient manner. It is used in various applications such as animal research, cell research and others.

The global hypoxia chamber market is estimated to be valued at US$ 59.9 million in 2020 and is expected to exhibit a CAGR of 7.7% during the forecast period (2020-2027).

Figure 1. Global Hypoxia Chamber Market Share (%) in Terms of Value, By Region, 2020

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Rising prevalence of chronic diseases and increasing research and development activities is expected to drive the market growth during the forecast period

The rising incidence of chronic diseases such as cardiovascular diseases, cancer, and increasing research and development activities for the development of novel therapy is expected to drive growth of the global hypoxia chamber market during the forecast period.

According to the Cancer Research UK report published in 2018, around 17 million new cancer cases were diagnosed in 2018 and around 9.6 million deaths occurred due to cancer in 2018 globally.

Moreover, according to the study conducted on “Hypoxia Increases Thyroid Cancer Stem Cell-Enriched Side Population” published in World Journal of Surgery, on November 2017, they observed that increase in the side population (SP) cells within the thyroid cancer cell lines following induction of hypoxia.

Figure 2. Global Hypoxia Chamber Market Share (%), by Type, 2020

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Increasing adoption of inorganic growth strategies such as agreement and collaboration is expected to drive the market growth during the forecast period

Key players operating in the market are focusing on adoption of inorganic growth strategies in order to develop novel product and increase their presence in the global market.

For instance, in March 2019, Scintica Instrumentation Inc., announced a distribution agreement with Baker Ruskinn preclinical VelO?x hypoxia chamber for scientific research. The VelO?x system has been engineered to provide an isolated and highly controlled oxygen environment to help researchers better understand how O? levels affect various conditions such as sleep apnea, systemic hypertension, pulmonary dysfunction, ischemia and others. The system, complete with innovative touch screen, has unparalleled user control, functionality and response with its ability to cycle various oxygen conditions. Its compact ergonomic chamber can be placed on an ordinary lab bench and does not require any extra customization to work effectively.

Global Hypoxia Chamber Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus disease (COVID-19) has resulted in more than 63.8 million infected individuals worldwide as of December 2^nd 2020.

COVID-19 can affect the economy in three main ways; by directly affecting production and demand, and creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of devices from one place to another.

Furthermore, players operating in the global hypoxia chamber market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing hypoxia chambers due to irregularities in transportation facility. Moreover, distributors of products are experiencing irregular demand for products from the retailers due to increasing number of patients suffering from COVID-19 and other life threatening disorders.

Global Hypoxia Chamber Market: Restraint

Stringent government regulation for the approval of hypoxia chamber and availability of substitute product such as nutrition therapy and others which can help to reduce the chances of hypoxia which may hinder the market growth during the forecast period.

Key Players

Major players operating in the global hypoxia chamber market are Baker, STEMCELL Technologies Inc, BioSpherix?Ltd, Plas-Labs, HypOxygen, Coy Labs, Oxford Optronix Ltd, Scintica Instrumentation Inc., CytoSMART Technologies B.V.