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(EMAILWIRE.COM, April 06, 2018 ) Europe Hyperbaric Oxygen (HBO) Therapy Devices Market size was around USD 37.75 million in 2016. It is expected to grow at a CAGR of 7.3% to reach USD 53.69 million by 2021.
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It captures 25% of the global market.Hyperbaric oxygen therapy (HBOT) devices are used for delivering pure oxygen (100%) to tissues in the body under higher atmospheric pressure. Atmospheric pressure in hyperbaric oxygen chambers or devices is increased from one to three times higher than normal atmospheric pressure which in turns fight bacteria and also stimulates the release of a substance called growth factors and stem cells promoting healing.
Development of the global hyperbaric oxygen therapy devices market is primarily driven by increasing prevalence of acute and chronic wounds and rising incidence of wound site infections. Moreover, raise in the demand for leisure adventure activities is anticipated to drive growth of the global hyperbaric oxygen therapy devices market over the aforementioned forecast period.However, high cost of hyperbaric oxygen therapy devices and reimbursement coverage are factors restraining market growth; these could also obstruct further product development and overall demand for hyperbaric oxygen therapy devices.
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The Europe Hyperbaric Oxygen (HBO) Therapy Devices Market Segmentation by product and application. By product the market is segmented into Monoplace HBOT Devices, Multiplace HBOT Devices, and Topical HBOT Devices. Monoplace HBOT devices is the market leader capturing over 76% of the total revenue in 2016. The commercial availability of Monoplace systems and increased adoption of such devices, owing to ease of handling and less requirement of hospital gas supply are few factors that are responsible for its revenue share in 2016.
Furthermore, the Monoplace HBOT devices category is likely to witness the highest CAGR. The steadily rising demand for Monoplace systems in hospitals & clinics owing to its higher availability in the market is the key factor, which is likely to boost market growth. Multiplace hyperbaric chamber is growing with the highest CAGR. But still, the rising requirement of treating growing number of patients in one cycle has resulted in raised demand for such systems in large-scale hospitals, which is expected to drive the market over the aforementioned forecast period.
Additionally, these devices can accommodate huge number of patients with different conditions and also help in monitoring by medical staff for every patient’s signs and symptoms. Therefore, the overall cost of the services for patients is low in contrast to Monoplace devices, which also increases the adoption rate of such devices. The key Unique Selling Propositions (USPs) of Multiplace chambers is that they allow for extended patient treatment time. The growing awareness among the hospital professionals about the benefits of this system is expected to boost the market.
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Hyperbaric Oxygen (HBO) Therapy Devices Market Segmentation:
• Monoplace HBOT Devices
• Multiplace HBOT Devices
• Topical HBOT Devices
• Y-o-Y Growth Analysis, By Product
• Market Attractiveness Analysis, By Product
• Market Share Analysis, By Product
• Wound Healing
• Decompression Sickness
• Infection Treatment
• Gas Embolism
• Y-o-Y Growth Analysis, By Application
• Market Attractiveness Analysis, By Application
• Market Share Analysis, By Application
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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