Report Description

Topical oxygen therapy market is anticipated to grow at a CAGR of 3.5% during the forecast period from 2019 to 2021. Factors driving this market include growing incidence of chronic wounds, increasing patient pool of diabetics, and high incidence of wound site infections. Some of the major trends responsible for market growth are increased number of surgical procedures, and technological advancement in advanced wound care. Additionally, evolution of advanced wound management products, introduction of products at subsidized prices and greater number of initiatives undertaken by governments and healthcare organizations will open new opportunities for topical oxygen therapy market.

Increasing Diabetic Patients Demand High Wound care Therapies

Chronic wounds especially found in diabetic patients are a serious problem to health of human beings.  Increasing cases of chronic wounds mainly found in geriatric population who are suffering from diabetes is one of the major problems. Devices for oxygen therapy are evolved significantly during the period and this are proved essential for the wounds caused with diabetic foot ulcers and peripheral arterial occlusive disease (PAOD). In 2017 federation of international diabetes has stated that, number of diabetes patients will increase from 425 million to 629 million by 2045. Consumption of unhealthy food, sedentary work, population surge and obesity are causing concern in terms of number of cases of diabetes patients and this are the critical factors for the growth of topical oxygen therapy market. In addition to that, increased number of incidences of wound site infections is also key driver for this market.

U.S. To Lead The Market

The United States is leading market in North America, and Asia Pacific is fastest growing market owing to emerging economy, growing healthcare facilities and vast patient pool. Chronic and non-healing wounds further impose significant financial burden to the society in terms of money as well as in productivity. The risk of microbial contamination is high in chronic disease patients and geriatric patients post surgeries due to slower healing process and low immunity. This factor will surge the demand for topical oxygen therapy, and hence it will drive the market during the forecast period from 2021 to 2029.

Growing Incidence of Chronic Wounds Worldwide Boosting the Growth of Topical Oxygen Therapy Market 

Currently, single-use topical oxygen systems are the largest product type by value and estimated to retain its prominence, while single use adhesive patch systems expected to record highest CAGR throughout the forecast period from 2019 to 2029. These systems are easy to use and are easily be applied in various healthcare sites such as wound care clinics, home settings, hospitals and nursing homes. These devices are easy to set up and being single use, prevents the occurrence of contamination. Reusable topical oxygen systems are a preferred choice among end users with lower cost requirements. However, these devices could increase risk of contamination thus accounting a considerable CAGR during the forecast period from 2019 to 2029. These factors primarily drive the growth of this segment. This system finds wide application in closing chronic wounds such as diabetic, venous and pressure ulcers. These systems are beneficial in treating post-surgical infections, diseased wounds, infected residual limbs, frostbite, amputations and burns. OxyBand Technologies, Inc.’s product OxyBand wound dressing is the only FDA approved wound dressing product that provides pure oxygen to wound for up to a duration of 5 days, contributing to the overall market growth of single use adhesive patch system segment.

This detailed study further defines the major qualitative market assessment factors including the main market driver, market trends, and restraints, to help in better understanding of global topical oxygen therapy market. Each market valuation factor comprising challenges, market drivers and opportunities are widely elucidated considering the existing market scenario. This report graphically maps the market players based on their market initiatives and product offering, strategies, and business strength. Moreover, the report provides attractive investment proposition based on the extensive geographical research. Key players profiled in the report includes: AOTI, Inc., OxyCare GmbH, GWR Medical Inc., Inotec AMD Ltd., OxyBand Technologies, Inc., and SastoMed GmbH among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Topical Oxygen Therapy market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Topical Oxygen Therapy market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Topical Oxygen Therapy market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Topical Oxygen Therapy market?
• Which is the largest regional market for Topical Oxygen Therapy market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Topical Oxygen Therapy market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Topical Oxygen Therapy market worldwide?