Monoplace Hyperbaric Oxygen Therapy Market Size (2022 -2030)

In 2022, the Global Monoplace Hyperbaric Oxygen Therapy Market was valued at USD 2.29 billion and is projected to reach a market size of USD 4.05 billion by 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 7.4%.

INDUSTRY OVERVIEW

HBOT, also known as hyperbaric oxygen therapy, is a type of medical treatment that involves breathing 100 % pure oxygen using a mask, endotracheal tube, or even just by being in an area with greater atmospheric pressure. Because the amount of oxygen in the blood increases with increased atmospheric pressure, this promotes general healing. In specialized pressure chambers with pressures that may equal or surpass 1.4 atmospheres, hyperbaric oxygen treatment is provided (ATM). HBOT has become a therapeutic therapy for treating chronic wounds such as diabetic wounds, venous and arterial insufficiency ulcers, crush injuries, and others by administering large levels of oxygen since many chronic wounds are oxygen-deficient.

HBOT has successfully treated a wide range of conditions in addition to chronic wounds, including decompression sickness, gas gangrene, ischemia, compartment syndrome, severe anemia, air or gas embolism, carbon monoxide poisoning, and many more. To lessen the likelihood that the patient would experience claustrophobia, the HBOT is performed in a specially designed tub-like chamber that is mostly transparent. In comparison to the oxygen normally breathed, the supply of pure oxygen in these chambers is carefully regulated to be substantially higher. As a result, the oxygen breathed dissolves in a variety of physiological fluids, including blood and cerebral spinal fluid. Mono and multiple chambers are available commercially, with a monoplace chamber able to accommodate a single patient and a multi-place chamber capable of accommodating up to six patients. HBOT is recommended because it offers several advantages, including decreased inflammation, hyperoxygenation, an antibacterial impact, and encouraging the creation of many new blood vessels in the body.

In 2021, Monoplace HBOT devices, which contributed to approximately 76 % of the entire sales, emerged as the top product category. One of the main variables that can be used to explain its revenue share in 2021 is the commercial availability of monoplace systems as well as the high acceptance of such devices because of their simplicity of use and reduced need for hospital gas supply. The BARA-MEDXD, BARA-MED, and BARA-MED Select by ETC Hyperbaric Chambers (Environmental Tectonics Corporation) and the PAH-S1 and PAH-S1-3800 by Pan-America Hyperbaric, Inc. are a few of the products that dominate the market. Furthermore, the sector for monoplace HBOT devices is predicted to increase at the fastest pace. One of the key factors anticipated to further propel the market is the huge requirement for monoplace systems in healthcare facilities due to their increased availability on the market and ease of installation. In the upcoming years, the HBOT Equipment market is predicted to increase as a result of the technical advancements connected to monoplace systems, such as portability and other advantages like user-friendly operability and reduced maintenance costs.

COVID-19 IMPACT ON THE MONOPLACE HYPERBARIC OXYGEN THERAPY MARKET

As a result of the diseased population, there is a rise in the need for medical supplies. One of the most common medical devices in initial clinical therapy is respiratory support equipment, which includes atomizers, life support machines, oxygen generators, and monitors. The COVID-19 outbreak has also caused a sharp increase in the demand for medical goods including masks, gloves, and safety glasses. Due to preventive measures, there is a spike in the demand for medical supplies from both healthcare professionals and the general public due to the increase of COVID-19 cases throughout the world. The makers of these goods have the opportunity to take advantage of the rising demand for medical supplies to guarantee a sufficient and ongoing supply of personal protective equipment on the market. Consequently, it is anticipated that COVID 19 will have a substantial influence on the market for hyperbaric oxygen therapy which would eventually drive the monoplace hyperbaric oxygen therapy market in future.

MARKET DRIVERS: 

Monoplace HBOT Devices are becoming more popular as wound healing tools which are fueling the market growth

Due to its mobility, user-friendly operation, and minimal servicing costs, Monoplace HBOT Devices are being used more often for wound healing. One of the key reasons propelling the growth of the market for hyperbaric oxygen therapy devices is that the whole chamber is pressured and filled with 100% oxygen in these devices without the requirement for a hood.

Growth in demand for monoplace hbot equipment for the therapy of carbon monoxide poisoning is fueling the market growth

The increased prevalence of carbon monoxide poisoning has increased the demand for HBOT devices because they may raise the serum's oxygen concentration to 6.8 %, which is necessary to maintain brain metabolism. The leading manufacturers in developed countries are concentrating on creating cutting-edge HBOT devices for the treatment of multiple sites, which is further boosting the market for HBOT devices.

Rise in Awareness about Hyperbaric Oxygen Therapy for Treatment of Photoaging and Skin Rejuvenation to Propel Market

In recent years, it has been discovered that oxygen is a key component in the rejuvenating of skin and the enhancement of skin tones. The use of monoplace HBOT for this objective is steadily growing. To reduce apparent wrinkles, medical aesthetic clinics currently utilise oxygen treatment under high pressure administered directly to the skin. This treatment significantly contributes to the removal of toxins from the skin and offers the patient rejuvenation and cosmetic advantages. For example, a specialized hyperbaric oxygen facility with regenerative medicine was officially opened in January 2022, according to a statement from Narayana Health City. Hyperbaric oxygen treatment (HBOT) will be offered in the portion of the hospital devoted to hyperbaric medicine to treat infections and age-related changes.

MARKET RESTRAINTS:

High Cost of Hyperbaric Oxygen Therapy Devices.

The major market participants are working together to conduct several research and development projects in preparation for the introduction of cutting-edge hyperbaric oxygen therapy equipment for the treatment of gas embolism. However, one of the key aspects that are anticipated to restrain the growth of the market for hyperbaric oxygen treatment equipment is the high price of these devices.

Side Effects and Complications linked with the use of Hyperbaric Oxygen Therapy to impede the market growth

During HBO therapy, a patient may have consequences such as oxygen poisoning (lung, central nervous system), barotraumatic lesions (nasal sinuses, middle ear, lung, teeth, inner ear), and ocular effects (cataract growth and myopia), and confinement anxiety. Furthermore, many patients report experiencing discomfort or ear ache as a symptom of issues when receiving hyperbaric oxygen therapy. In addition, the market for hyperbaric oxygen treatment equipment is specialized and expensive. Due to the unpredictability of realizing predicted profits, this discourages businesses from entering the market.

MONOPLACE HYPERBARIC OXYGEN THERAPY  MARKET REPORT COVERAGE:

This research report on the Monoplace Hyperbaric Oxygen Therapy Market has been segmented and sub-segmented based on Application, By End-Use and By Region.

MONOPLACE HYPERBARIC OXYGEN THERAPY MARKET – BY APPLICATION

• Wound Healing
• Decompression Sickness
• Infection Treatment
• Gas Embolism
• Other

Based on the application, the monoplace hyperbaric oxygen therapy market is segmented into Wound Healing, Decompression Sickness, Infection Treatment, Gas Embolism and Other. Due to the increasing occurrence of chronic and acute wounds as well as wound site infections worldwide, wound healing was the largest application sector in 2021. About 6.5 million people in the United States suffer from chronic wounds, and they spend more than USD 25 billion yearly on their therapy. One of the main causes of the increased demand for the treatment of chronic and acute wounds is the rising expense of healthcare, as well as the incidence of obesity and diabetes and the ageing population. The majority of the revenue share represented by the wound healing category can be attributed to these causes. About 1 to 2 % of the people in affluent countries will encounter a chronic wound over their lifetime, according to estimates published in the NCBI. The percentage is anticipated to be greater in emerging economies. Also among the contributing causes is the growing risk of chronic wounds brought on by the increased incidence of diabetes and obesity. The necessity for Monoplace HBOT systems in wound healing applications is further driven by the growing appeal of adventurous activities and recreational sports among the majority of the world's population. With a CAGR of 8.2% from 2023 - 2030, the others category, however, is anticipated to witness the largest growth rate Decompression Sickness is one of them. One of the primary indicators of the potential expansion of the other segment is the rise in clinical studies using monoplace hyperbaric oxygen treatment equipment for diseases including diabetic foot ulcer, periodontitis, diabetes mellitus, ageing, and hypoxic-ischemic encephalopathy.

MONOPLACE HYPERBARIC OXYGEN THERAPY MARKET - BY END-USE

• Hospitals
• Ambulatory Care Centers
• Outpatient Clinics
• Standalone Hyperbaric Treatment Centers
• Others

Based on the end-use, the monoplace hyperbaric oxygen therapy market is segmented into Hospitals, Ambulatory Care Centers, Outpatient Clinics, Standalone Hyperbaric Treatment Centers and Others. Among these, the Hospitals category is anticipated to contribute significantly to the market growth. By delivering oxygen-rich plasma to tissue that is oxygen-starved, hyperbaric oxygen treatment (HBOT) devices are essential for the healing of osteomyelitis, actinomycosis, and diabetic wounds. As a result, Monoplace HBOT equipment is commonly used in hospitals in treating patients.  Moreover, due to the worldwide rise in diabetes and obesity, there will likely be a major increase in the requirement for hyperbaric oxygen treatment equipment in wound healing applications.

MONOPLACE HYPERBARIC OXYGEN THERAPY MARKET - BY REGION

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East
• Africa

By region, the Monoplace Hyperbaric Oxygen Therapy Market is grouped into North America, Europe, Asia Pacific, Latin America, The Middle East and Africa. In 2021, North America was the largest sector, with around 32% of the overall revenue. Emerging nations like India, China, the Philippines, Vietnam, and Brazil have all seen rapid economic expansion. The region's need for Monoplace HBOT has grown as a result of expanding populations and a greater need for wound healing therapies. Consumers are now more likely to use technologically advanced medical treatments and therapies because of rising disposable income. The U.S. dominated the market in 2021 and is predicted to continue to do so throughout the forecast period. Over 2.5 million Americans are affected each year by advanced venous illnesses, which are marked by skin abnormalities and leg ulcers, according to the American Venous Forum. Some of the factors that are anticipated to drive the market over the next few years include the rising prevalence of chronic and acute wounds and the concurrently rising treatment rate caused by the presence of developed healthcare technology, growing healthcare spending by the government, and enormous disposable income.

Over the next several years, Asia Pacific is anticipated to see the fastest growth. Due to the increased per capita income, a booming medical tourism business, and expanding public knowledge of the advantages of Monoplace HBOT devices, this region is predicted to experience huge development. China is predicted to see faster growth in the Asia Pacific area compared to Japan's growth rate.

MONOPLACE HYPERBARIC OXYGEN THERAPY MARKET - BY COMPANIES

Some of the major players operating in the Monoplace Hyperbaric Oxygen Therapy Market include:

1. Perry Baromedical
2. SECHRIST INDUSTRIES, INC.
3. TEKNA HYPERBARIC
4. PAN AMERICA HYPERBARICS, INC.
5. HAUX-LIFE-SUPPORT
6. PCCI INC.
7. FINK ENGINEERING
8. HIPERTECH ELECTRONICS INC.
9. SOSGROUP.
10. HEARMEC
11. OXYHEALTH.
12. ENVIRONMENTAL TECTONICS CORPORATION.
13. IHC MERWEDE HOLDING B.V.
14. ADVANCED BIOMEDICAL ENGINEERING.
15. AIROX TECHNOLOGIES PRIVATE LIMITED.
16. BIOVISION HEALTHCARE PVT. LTD.
17. RICHMOND HYPERBARIC HEALTH CENTER
18. UNIVERSE SURGICAL EQUIPMENT CO.
19. UNIQUE MEDICAL APPLIANCES.

NOTABLE HAPPENING IN THE MONOPLACE HYPERBARIC OXYGEN THERAPY MARKET

• ACQUISITION- Perry Baromedical Corporation bought Environmental Tectonics Corporation Biomedical Systems' hyperbaric segment in February 2020. The purchase aided Perry Baromedical Corporation's entry into and growth in the Asia-Pacific region. Increasing the installed base both domestically and internationally was another benefit of the purchase.
• PRODUCT LAUNCH- At the MEDICA trade fair in Germany in November 2019, AHA Hyperbarics GmbH launched the AHA Flex V2 hyperbaric system. The AHA Flex V2 hyperbaric system is used to treat diabetic foot ulcers, crush injuries, and cerebrovascular insult (CVI). This grid-powered equipment, which consists of two bags, operates on a 2.0 bar.
• APPROVAL- New medical study from the LSU Health New Orleans School of Medicine published in February 2019 suggests that the therapy, whether used alone or in conjunction with other treatments, may be helpful for Alzheimer's patients.