One the key feature of the competitive landscape of the global hyperbaric oxygen therapy devices market is its diversity. There are several different notable players operating in the global market and has thus led to the fragmentation of its competitive landscape. These companies are deploying several different aggressive marketing strategies in order to stay ahead of the competitive curve. One of the key marketing strategies is improved focus on product development and innovation. The companies are now trying to focus on developing highly cost efficient medical devices and equipment as to encourage more adoption.
“The companies in the global market for hyperbaric oxygen therapy devices are are also resorting to inorganic marketing strategies such as mergers, acquisitions, takeover, and strategic alliances and partnerships in order to diversify and strengthen their portfolio as well as generate more profits. Moreover, these companies are also exploring new geographical regions in order to tap into potential lucrative opportunities” notes TMR analyst.
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Some of the notable names operating in the global hyperbaric oxygen therapy devices are Sechrist Industries, Inc., Perry Baromedical, and Environmental Tectonics Corporation (ETC), HAUX-LIFE-SUPPORT GmbH, IHC Hytech B.V., Oxyheal International and Fink Engineering.
Transparency Market Research has published a new research report that provides detailed information about the key segments, drivers and restraints, geographical outlook, and current situation of the vendor landscape. As per the findings of the research report, the global market for hyperbaric oxygen therapy devices is expected to reach a market valuation worth US$284.8 Mn by the end of 2025. The market was initially valued at US$150.0 Mn in the year 2015. The global market is expected to register a highly promising CAGR of 7.4% over the course of the given period of forecast ranging from 2016 to 2025.
Monoplace Chambers Segment to Dominate Market
Based on products, the global hyperbaric oxygen therapy devices market is segmented into multiplace hyperbaric oxygen therapy devices and monoplace hyperbaric oxygen therapy devices. Of these, the segment of monoplace hyperbaric oxygen therapy devices market accounted for 60.1% of the overall market share. Favorable regulatory policies, improving patients’ hygiene, affordable prices as compared to multiplace chambers, improved and faster healing of wounds, and technological advancements are some of the key factors helping to drive the growth of the segment.
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Based on the regional segment, the global hyperbaric oxygen therapy devices market is divided into five main regions namely, North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Of these, currently, the global market is being led by the regional segment of North America. The region accounted for nearly 32.1% of the overall market share in 2016 and will continue to dominate in the near future.
Wide Range of Product Types is Key Market Driver
Hyperbaric oxygen therapy is actually a non-invasive method for increasing the healing rate of a damaged tissue. The therapy helps in delivering pure oxygen in the bloodstream. This delivery of oxygen is done under high pressure. There are several different chambers and designs, and sizes available for hyperbaric oxygen therapy devices. It has thus become one of the key driving factors for the development of the global market in recent years. Moreover, increasing demand for non-invasive therapy techniques and procedures has also worked in favor of the development of the global hyperbaric oxygen therapy devices market.
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