(Health-NewsWire.Net, October 15, 2018 ) Overview:
Hyperbaric oxygen therapy is essentially a non-invasive method to increase the rate of healing of damaged tissues. HBOT devices are used for delivering pure oxygen (100%) to the tissues under higher atmospheric pressures. In hyperbaric oxygen chambers or devices, the atmospheric pressure is increased from one to three times higher than normal atmospheric pressure.
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Asia Pacific Hyperbaric Oxygen Therapy-devices Market size was around USD 34.77 Million in 2018. It is expected to grow at a CAGR of 7.9% to reach USD 50.85 Million by 2023.
Drivers and Restraints:
Increasing prevalence of acute and chronic wounds, growing demand for hyperbaric oxygen therapy devices globally, rising aging population across the globe, high adoption rate of hyperbaric oxygen therapy devices in the global healthcare facilities, high cost of hyperbaric oxygen therapy devices, unfavorable reimbursement policies, increasing prevalence of acute and chronic wounds, growing demand for hyperbaric oxygen therapy devices globally, rising aging population across the globe. High cost of hyperbaric oxygen therapy devices and unfavorable reimbursement policies are restraints of the market.
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Geographic Segmentation
The Asia Pacific Hyperbaric Oxygen Therapy market has geographically segmented into China, India, Japan, South Korea, and Australia. Developing countries such as Philippines, Vietnam, India, China, and Brazil are experiencing strong economic growth. Growing population and growing need for wound healing treatment have driven the demand for HBOT in these regions.
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Major companies in the market are HAUX-LIFE-SUPPORT; HEARMEC; IHC Hytech B.V. (Royal IHC); Hyperbaric SAC; Sechrist Industries, Inc.; Gulf Coast Hyperbarics, Inc.; Fink Engineering; ETC Hyperbaric Chambers (Environmental Tectonics Corporation); OxyHeal International; and SOS Group Global Ltd.
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