North America Hyperbaric Oxygen Therapy Devices Market

North America Hyperbaric Oxygen Therapy Devices Market Size (2024 to 2032)

The size of the North America hyperbaric oxygen therapy devices market was worth USD 199 million in 2023. The North america market is anticipated to grow at a CAGR of 7.1% from 2024 to 2032 and be worth USD 370 million by 2032 from USD 214 million in 2024.

MARKET SCENARIO

The global market is likely to be dominated by the North American region during the forecast period, owing to factors such as increased disposable income, rising population, and the growing need for a wound-healing treatment, all of which have fueled demand for HBOT in the region. In addition, according to the National Institutes of Health, human skin wounds are a substantial indirect threat to the economy because the government is responsible for the treatment of the general public. As a result, the government has committed significant resources to develop viable treatment methods.

The development of portable HBOT devices and the growing number of clinical trials sponsored by various universities and players suggest that the market is progressing and contributing to its expansion. One of the other key factors expected to enhance growth during the forecast period is the growing use of hyperbaric oxygen therapy in wound healing and aesthetic surgeries. As the number of athletes grows, so does the demand for this technology. The treatment aids in the delivery of pure oxygen to the bloodstream. This oxygen delivery is done at high pressure. Hyperbaric oxygen therapy devices are available in various chambers, styles, and sizes. As a result, it has been one of the major driving forces behind the North American market's recent growth.

Furthermore, the growing desire for non-invasive therapy techniques and procedures has aided the growth of the global hyperbaric oxygen therapy devices market. In addition, the rising demand for multiplace HBOT devices for decompression sickness, growing adoption of monoplace HBOT devices for wound healing, rising incidences of gas embolism and carbon monoxide poisoning, and rising investment by key players to develop advanced hyperbaric oxygen therapy devices are all expected to propel the hyperbaric oxygen therapy devices market forward in the North American region.

The high cost associated with hyperbaric oxygen therapy is one of the primary restraints to the market growth. Furthermore, some locations' insufficient HBOT reimbursement coverage policies will reflect the market's declining growth trend. Moreover, awareness about the most recent HBOT technologies operates as a roadblock to market expansion.

SEGMENTAL ANALYSIS

North America Hyperbaric Oxygen Therapy Devices Market Analysis By Product

• Monoplace HBOT Devices
• Multiplace HBOT Devices  
• Topical HBOT Devices        

North America Hyperbaric Oxygen Therapy Devices Market Analysis By Application

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

GEOGRAPHICAL ANALYSIS

• The United States
• Canada
• Rest of North America

Geographically, North America was the leading segment and accounted for around 32% of the total revenue in 2020. The U.S. was the market leader in 2020 and is also expected to account for the largest revenue share over the aforementioned forecast period. According to the American Venous Forum, advanced venous diseases characterized by skin changes and leg ulceration affect over 2.5 million people annually in the U.S. The increasing prevalence of chronic & acute wounds and simultaneously growing treatment rate due to the presence of advanced healthcare technology, growing healthcare expenditure by the government, and substantial disposable income are some of the factors that are expected to boost the market over the coming years.

KEY MARKET PLAYERS

Companies leading the North America HBOT devices market include Gulf Coast Hyperbarics, Inc.; Fink Engineering; ETC Hyperbaric Chambers (Environmental Tectonics Corporation); HAUX-LIFE-SUPPORT; HEARMEC; IHC Hytech B.V. (Royal IHC); Hyperbaric SAC; Sechrist Industries, Inc.; OxyHeal International; and SOS Group North America Ltd., and Others.