According to the International Diabetes Federation (IDF), in 2014, approximately 387 million individuals suffered from diabetes and by 2035 the number would reach 592 million. Various scientific studies suggest that among the entire diabetic population, 15% are more likely to develop foot ulcer sometime during their lifetime.
With increase in the incidences of various chronic wounds such as diabetic foot ulcers and tissue infections, the adoption rate of advanced therapeutic technologies such as hyperbaric oxygen therapy would increase simultaneously; thus driving the market for HBOT devices.
The HBOT devices market is expected to gradually expand due to the increasing prevalence of chronic wounds and growing applicability of HBOT in various medical indications – in 2013, the global market was valued at USD 1,851.6 million and is expected to reach USD 2,985.5 million in 2020 (growing at a CAGR of 7.2% from 2014 to 2020).
Key factors driving growth of the hyperbaric oxygen therapy devices market are increasing prevalence of acute and chronic wounds (e.g. diabetic foot ulcers, burn injuries, pressure ulcers, etc.) and increasing popularity of leisure activities such as scuba diving are expected to boost growth of the hyperbaric oxygen therapy devices market in the near future.
Our company is targeting the global monoplace hyperbaric chamber market, in particular:
- Australasia (Australia and New Zealand)
- South East Asia (inc. Malaysia, Philippines, Singapore)
- East Asia (inc. Japan, South Korea and Taiwan)
- South Asia (inc. India)
- Middle East (inc. UAE)
- North America (United States and Canada)
- South America (inc. Brazil, Colombia, Argentina and Venezuela)