(MENAFN- EIN Presswire) topical oxygen therapy industry
PORTLAND, OREGON, UNITED STATES, June 1, 2023/einpresswire.com / -- 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, registering a CAGR of 3.4% from 2022 to 2031. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Market Growth: The topical oxygen therapy market has been experiencing significant growth in recent years and is expected to continue its upward trajectory. The increasing prevalence of chronic wounds, diabetic foot ulcers, pressure ulcers, and other skin disorders is driving the demand for topical oxygen therapy.
Wound Healing Benefits: Topical oxygen therapy offers several benefits for wound healing. It helps in increasing tissue oxygenation, promoting angiogenesis, reducing inflammation, and enhancing the effectiveness of antibiotics. These benefits contribute to faster healing and improved outcomes for patients.
Rising Chronic Wound Cases: The prevalence of chronic wounds, such as diabetic foot ulcers and venous leg ulcers, is on the rise globally. Factors such as an aging population, the growing incidence of diabetes, and the increasing prevalence of obesity contribute to the increasing number of chronic wound cases. This trend is driving the demand for topical oxygen therapy as an effective treatment option.
Technological Advancements: The topical oxygen therapy market has witnessed significant technological advancements in recent years. Advanced wound dressings and devices are being developed to deliver oxygen topically to wounds. These innovations aim to improve patient comfort, simplify treatment procedures, and enhance the effectiveness of topical oxygen therapy.
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Market Drivers:
Increasing Prevalence of Chronic Wounds: The rising incidence of chronic wounds, such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers, is a significant driver for the topical oxygen therapy market. Factors such as an aging population, the growing prevalence of diabetes and obesity, and the increase in surgical procedures contribute to the higher number of chronic wound cases.
Growing Awareness about Advanced Wound Care: There is a growing awareness among healthcare professionals and patients about the importance of advanced wound care techniques for improved healing outcomes. Topical oxygen therapy is gaining recognition as an effective treatment option for chronic and non-healing wounds, leading to increased adoption.
Market Segmentation:
Product Type:
a. Oxygen Emulsion: Topical oxygen therapy products in the form of emulsions or gels.
b. Oxygen Spray: Topical oxygen therapy products in the form of sprays or mists.
Application:
a. Chronic Wounds: Includes diabetic foot ulcers, venous leg ulcers, pressure ulcers, and other long-lasting wounds.
b. Surgical Wounds: Includes wounds resulting from surgical procedures, such as incisions or post-operative wounds.
c. Traumatic Wounds: Includes wounds caused by accidents, burns, or injuries.
End-User:
a. Hospitals and Clinics: Healthcare facilities where topical oxygen therapy is administered by healthcare professionals.
b. Homecare Settings: Patients who receive topical oxygen therapy in their own homes with the assistance of caregivers.
Distribution Channel:
a. Hospitals and Clinics: Topical oxygen therapy products distributed directly to hospitals and clinics.
b. Retail Pharmacies: Topical oxygen therapy products available over-the-counter or through prescription at retail pharmacies.
c. Online Pharmacies: Topical oxygen therapy products purchased through online platforms.
Geography:
a. North America: Includes the United States, Canada, and other countries in the region.
b. Europe: Includes countries in the European Union and the United Kingdom.
c. Asia-Pacific: Includes countries such as China, Japan, India, Australia, and others.
d. Latin America: Includes countries in Central and South America.
e. Middle East and Africa: Includes countries in the Middle East and Africa region.
These are just some examples of how the topical oxygen therapy market can be segmented. The actual segmentation may vary based on the specific research or industry analysis.
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Regional Growth Dynamics:
By region, 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.
Competitive Landscape:
Smith & Nephew plc
Mölnlycke Health Care AB
Medline Industries, Inc.
Integra LifeSciences Corporation
Coloplast A/S
ConvaTec Group Plc
Medtronic plc
Misonix, Inc.
AOTI Inc.
Talley Group Limited
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