Topical Oxygen Therapy Market to Reach $27.72 Million, Globally, by 2031 at 3.4% CAGR: Allied Market Research

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. 

PORTLAND, Ore., July 12, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Topical Oxygen Therapy Market by Application (Chronic Wounds, Acute Wounds), by End User (Hospitals, Clinics, Home Care, Post Acute Care Settings): Global Opportunity Analysis and Industry Forecast, 2021-2031." 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 report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Download Report (150 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/17353

Drivers, restraints, and opportunities-

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.

Covid-19 scenario-

The outbreak of the pandemic provided wound care clinicians with an opportunity to change the wound treatment paradigm in favor of home-based care solutions.  It took in essential wound care to prevent amputations, thus offering relief to a hospital system in crisis. An in-home technology for the delivery of supplementary oxygen to wounds was the main focus of the therapy. These factors impacted the global topical oxygen therapy market positively.

Also, removal of strict lockdown and Covid-19 restrictions in 2021 by the majority of the countries coupled with an increase in number of patients visits in hospitals and wound care centers propelled the demand and adoption of wound care devices.

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The chronic wounds segment to lead the trail-

By type, the chronic wounds segment contributed to more than two-thirds of the global topical oxygen therapy market share in 2021, and is expected to lead the trail by 2031. Surge in geriatric population suffering from diabetes and wound site infection propels the growth of the segment. The acute wounds segment, on the other hand, is expected to exhibit the fastest CAGR of 3.8% from 2022 to 2031. Rise in surgical wounds drives the segment growth.

The homecare segment held the major share in 2021-

By application, the homecare segment accounted for more than two-fifths of the global topical oxygen therapy market revenue in 2021, and will dominate by 2031. This is attributed to easy using features of TOT at home. At the same time, the hospitals segment would manifest the fastest CAGR of 4.2% during the forecast period. Growing adoption of these devices in hospitals propels the segment growth.

North America Topical Oxygen Therapy Market to Dominate by 2031-

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.

Key players in the industry-

• Inotec AMD Ltd.
• RashEndZ Inc.
• GWR Inc.
• AOTI, Inc.
• EO2 Concepts
• Mölnlycke Health Care AB
• OxyBand Technologies
• OGENIX

Key Benefits for Stakeholders

• The study provides an in-depth analysis of the topical oxygen therapy Market along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers topical oxygen therapy Market analysis from 2021 to 2031, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
• A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global topical oxygen therapy Market growth.

We also Offers Regional and Country Reports-

North America Topical Oxygen Therapy Market
Japan Topical Oxygen Therapy Market
South Korea Topical Oxygen Therapy Market
Singapore Topical Oxygen Therapy Market
Australia Topical Oxygen Therapy Market
Europe Topical Oxygen Therapy Market

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