Oxygen Therapy Devices: Growth In Market Expected As Global Demands Rise
Hyperbaric oxygen therapy devices market is projected to increase as demands rise for these devices. According to Future Market Insights it is expected to register at CAGR of 7.2 percent. The market is segmented on the basis of application type, product type and region. On the basis of products, the market is divided into monoplace HBOT devices, multiplace HBOT devices and topical HBOT device.
HBOT or Hyperbaric Oxygen Therapy uses increased pressure oxygen to treat a variety of conditions. Treatment is administered through a flexible or hard chamber. The way the HBOT works is it increases the percentage of oxygen in the body's tissues and reduces inflammation which in turn reduces swelling and promotes growth of new healthy blood vessels in the affected part. The tissues heal faster.
Patients who suffered traumatic brain injuries and those who have diabetes are two groups that can benefit from HBOT. The use of the device is approved by Medicare in patients who have wound healing problems, gangrene infections, carbon monoxide poisoning and other conditions. Off label conditions that can be treated by the device includes Autism spectrum disease, ADD/ADHD, Alzheimer disease, lupus, PTSD and traumatic head and brain injuries.
Dr. Steven Skaggs a chiropractic physician of Skaggs Chiropractic LLC located in Joplin, MO treats patients with hyperbaric oxygen therapy devices. The two chambers are available for patients, veterans are treated free of charge. HBOT is used to treat posttraumatic stress disorder PTSD and TBI as reported Yahoo Finance.
The market has been segmented into decompression sickness, wound healing, gas embolism, infections and others. On the basis of region, the market has been segmented into North America, Asia Pacific, Europe and the rest of the world. Increased incidence of acute and chronic wounds is expected to increase the demand for wound healing application of the devices over the forecast period.
Increased in acute and chronic wound cases will be a major driving force for the demand on the devices. Strategic alliances between key players, manufacturers focused on market share and healthcare expansion in developing countries are also factors for the increasing global demand according to a report by Sat Press Releases.
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