Hyperbaric Oxygen Therapy (HBOT) Devices Market Is Estimated to Witness High Growth Owing To Increasing Incidences Of Non-Healing Wounds And Rising Geriatric Population
The Global Hyperbaric Oxygen Therapy (HBOT) Devices Market is estimated to be valued at USD 3.61 Bn in 2024, exhibiting a CAGR of 5.1% over the forecast period (2024-2031). The market is witnessing high growth owing to the increasing incidences of non-healing wounds such as diabetic foot ulcers and pressure sores, especially in the geriatric population who are more prone to such wounds. Furthermore, HBOT is increasingly being used in the treatment of chronic diseases such as multiple sclerosis and cerebral palsy which is further driving the demand.
Market Dynamics:
The global hyperbaric oxygen therapy (HBOT) devices market is primarily driven by the increasing geriatric population globally which is more prone to chronic diseases and wounds that can benefit from HBOT. As per WHO, the population aged over 60 years is projected to reach around 2 billion by 2050 from 900 million in 2015. Secondly, the rising prevalence of non-communicable diseases such as diabetes is also fueling the market growth.
Increasing Prevalence of Chronic Wounds to Drive Market Growth
One of the key drivers for the global hyperbaric oxygen therapy (HBOT) devices market is the rising prevalence of chronic wounds globally. Chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers are difficult to treat and have high recurrence rates. HBOT has emerged as an effective adjunct therapy for the treatment of such wounds by delivering 100% oxygen at greater than atmospheric pressures. This enhances the diffusion of oxygen in tissues and promotes angiogenesis. Several clinical studies have demonstrated the ability of HBOT to reduce healing times and resistance to infection in chronic wounds. According National Library of Medicine in January 2021, With the global diabetic population expected to reach 700 million by 2045, the burden of diabetic foot ulcers will continue to rise significantly fueling demand for HBOT devices in the coming years.
Growing Adoption of HBOT in Treatment of Non-healing Wounds
Another major market driver is the increasing adoption of HBOT in the treatment of non-healing acute wounds that are resistant to standard therapies. Conditions such as necrotizing soft tissue infections, crush injuries, and severe trauma wounds often do not respond well to conventional wound care measures alone. HBOT boosts the immune response at the cellular level and stimulates important healing processes like collagen deposition and angiogenesis even in hypoxic and ischemic tissues. Many clinical practice guidelines now recommend HBOT as an adjunct treatment for such problematic wounds. The efficacy and safety profile of HBOT relative to other advanced therapies has led to its increased utilization, thereby supporting revenue growth of HBOT device manufacturers.
Reimbursement Cuts Pose Challenge to Market Growth
One of the key challenges faced by the hyperbaric oxygen therapy (HBOT) devices market is ongoing reductions to insurance coverage and reimbursements globally. In the US, cuts to Medicare reimbursements for HBOT in wound care indications have reduced provider revenues. Similarly, continued pressure to contain costs has led national health services in European countries to limit reimbursements for HBOT therapies over the past decade. The high equipment and operational costs associated with HBOT also pose significant barriers for smaller healthcare providers. With widespread austerity measures still in effect, further reimbursement reductions remain a looming threat restraint market expansion. This factor influences the adoption rates of capital-intensive HBOT devices.
Lack of Standardized Efficacy Data Hampers Market Adoption
The lack of robust and standardized clinical efficacy data for some approved indications is another major market restraint. While HBOT is well-established for certain conditions like decompression sickness, its benefits in soft tissue radiation injuries and cognitive impairment associated with trauma remain less well defined. This is partly attributed to limitations and inconsistencies in available research on these adjunct applications. The need for large, randomized controlled trials investigating long-term outcomes continues to be emphasized by key stakeholders. Until definitive evidence emerges from such high-quality studies, some clinicians and healthcare payers may be hesitant about fully embracing HBOT for less conventional uses. This could restrict the scope of approved reimbursable indications and curb uptake of multiplace devices.
Emerging Indications to Spur Innovation and Adoption
One significant growth opportunity for market players lies in ongoing research evaluating new potential clinical applications of HBOT. Promising areas currently under investigation include treatment of Alzheimer's disease, Parkinson's disease, autism, multiple sclerosis, and spinal cord injuries. Preliminary evidence hints at neuroprotective and neurodegenerative effects from HBOT, warranting more exploratory studies. Validation of therapeutic benefits could open up entirely new multi-billion-dollar verticals. Innovation will also be spurred by a need for smaller, portable HBOT devices capable of delivering therapies in non-traditional settings for these emerging conditions. If ongoing efforts yield affirmative data, it may significantly expand the global market potential over the long term.
Rise of Outpatient Therapy Centers to Drive Adoption
The increasing popularity of outpatient hyperbaric medicine centers represents another major market opportunity. Traditionally, HBOT was largely restricted to hospital inpatient settings due to logistical challenges. However, advancements in compact, mobile hyperbaric chamber designs now enable convenient therapy delivery in standalone clinics as well. This shift to ambulatory care has proved advantageous by allowing consistent daily treatments, reducing inconvenience/downtime for patients and lowering overall healthcare costs. The rise of multiplace outpatient facilities across major markets will drive demand for both chamber hardware and service/maintenance contracts. Their ability to treat a higher volume of conditions on an outpatient basis also serves to expand the overall addressable patient pool.
Link: https://www.coherentmarketinsights.com/market-insight/hyperbaric-oxygen-therapy-devices-market-553
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, private 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
Key Players:
Fink Engineering, ETC Hyperbaric Chambers, HAUX-LIFE-SUPPORT, Gulf Coast Hyperbarics Inc., HEARMEC, Sechrist Industries, OxyHealth, Perry Baromedical, Hyperbaric Medical Solutions, Hyperbaric Technologies, Airox Technologies, B. Braun Melsungen AG, Medtronic, and Smiths Medical
