What is the market size of topical oxygen therapy?
According to the report, the global topical oxygen therapy industry was estimated at $19,889.74 thousand in 2021, and is anticipated to hit $27,721.76 thousand by 2031.
- CAGR: 3.4%
- Current Market Size: USD 19,889.74 Thousand
- Forecast Growing Region: APAC
- Largest Market: North America
- Projection Time: 2020– 2030
- Base Year: 2019
- Report Key Pointer: COVID-19 Outbreak & Impact
Rise in incidence of chronic wounds, surge in patient pool of diabetics, and high prominence of wound site infections drive the growth of the global topical oxygen therapy market. On the other hand, lack of awareness in developing countries restrains the growth to some extent. However, introduction of topical oxygen therapy in emerging economies is expected to create lucrative opportunities in the industry.
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Topical oxygen therapy is primarily used in the following segments:
- Wound Care: To promote the healing of chronic wounds, such as diabetic ulcers, pressure sores, and venous stasis ulcers.
- Plastic and Reconstructive Surgery: To enhance the healing of post-operative wounds and reduce the risk of infection and scarring.
- Dermatology: To treat various skin conditions, such as burns, eczema, and psoriasis.
- Sports Medicine: To speed up the recovery of soft tissue injuries, such as sprains, strains, and contusions.
- Podiatry: To treat foot and ankle injuries, such as plantar fasciitis, ankle sprains, and diabetic foot ulcers.
Topical oxygen therapy is commonly used in several applications, including:
- Wound Healing: To promote the healing of chronic wounds, such as diabetic ulcers, pressure sores, and venous stasis ulcers.
- Plastic and Reconstructive Surgery: To enhance the healing of post-operative wounds and reduce the risk of infection and scarring.
- Dermatology: To treat various skin conditions, such as burns, eczema, and psoriasis.
- Sports Medicine: To speed up the recovery of soft tissue injuries, such as sprains, strains, and contusions.
- Podiatry: To treat foot and ankle injuries, such as plantar fasciitis, ankle sprains, and diabetic foot ulcers.
By Regional Analysis:
North America garnered the major share in 2021, holding more than two-fifths of the global topical oxygen therapy market, owing to supportive reimbursement policies in the healthcare system across the province. Simultaneously, Asia-Pacific would cite the fastest CAGR of 4.9% throughout the forecast period. This is due to growing awareness among people regarding benefits of TOT.
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key players in the industry-
- Inotec AMD Ltd.
- RashEndZ Inc.
- GWR Inc.
- AOTI, Inc.
- EO2 Concepts
- Mölnlycke Health Care AB
- OxyBand Technologies
- OGENIX
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