The global topical oxygen therapy market was valued at $ 19,889.74 thousand in 2021, and is projected to reach $ 27,721.76 thousand by 2031, registering a CAGR of 3.4% from 2022 to 2031.
Topical oxygen therapy (TOT) is the administration of oxygen applied topically over injured tissue by either continuous diffusion or pressurized systems. There are dressings, gels, hemoglobin sprays, mechanical devices specifically indicated for topical oxygen therapy. Since oxygen is applied directly to the wound site and there is no additional inspiration of oxygen, there are no fatal effects in comparison to HBOT. Topical oxygen therapy is U.S. FDA approved for diabetic ulcers, venous insufficiency, postsurgical infections, gangrenous lesions, pressure ulcers, skin grafts, burns, frostbite, and amputations. It is applied in the comfort of a patient’s home and consists of a sterile, single-use, disposable, gas-impermeable chamber with adhesive edges applied as a boot or bag administered around the affected extremity or wound. The advantage of this system is that it costs low and does not involve systemic oxygen, which can place a patient at risk for oxygen toxicity.
The major factors that drive the growth of the global topical oxygen therapy market include growth in incidence of chronic wounds, increase in patient pool of diabetics, and high incidence of wound site infections. In addition, surge in number of surgical procedures and technological advancement in advanced wound care products further propel the market growth. However, lack of awareness in developing countries is likely to restrain the growth of the topical oxygen therapy market during the forecast period. Conversely, evolution of wound management products and great number of initiatives undertaken by governments and healthcare organizations to increase awareness about wound care devices are anticipated to provide lucrative opportunities to the market players.
The topical oxygen therapy market is segmented into application, end user and region. According to application, the market is categorized into chronic wound and acute wound. By end user, it is segregated into hospitals, clinics, homecare, and post-acute care settings. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include the AOTI, Inc., Inotec AMD Ltd., GWR Inc., OxyBand Technologies, EO2 Concepts, Mölnlycke Health Care AB, OGENIX and RashEndZ Inc.
It presents a quantitative analysis of the market from 2021 to 2031 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on application assists to understand the trends in the industry.
Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Topical oxygen therapy (TOT) is the administration of oxygen applied topically over injured tissue by either continuous diffusion or pressurized systems. There are dressings, gels, hemoglobin sprays, mechanical devices specifically indicated for topical oxygen therapy. Since oxygen is applied directly to the wound site and there is no additional inspiration of oxygen, there are no fatal effects in comparison to HBOT. Topical oxygen therapy is U.S. FDA approved for diabetic ulcers, venous insufficiency, postsurgical infections, gangrenous lesions, pressure ulcers, skin grafts, burns, frostbite, and amputations. It is applied in the comfort of a patient’s home and consists of a sterile, single-use, disposable, gas-impermeable chamber with adhesive edges applied as a boot or bag administered around the affected extremity or wound. The advantage of this system is that it costs low and does not involve systemic oxygen, which can place a patient at risk for oxygen toxicity.
The major factors that drive the growth of the global topical oxygen therapy market include growth in incidence of chronic wounds, increase in patient pool of diabetics, and high incidence of wound site infections. In addition, surge in number of surgical procedures and technological advancement in advanced wound care products further propel the market growth. However, lack of awareness in developing countries is likely to restrain the growth of the topical oxygen therapy market during the forecast period. Conversely, evolution of wound management products and great number of initiatives undertaken by governments and healthcare organizations to increase awareness about wound care devices are anticipated to provide lucrative opportunities to the market players.
The topical oxygen therapy market is segmented into application, end user and region. According to application, the market is categorized into chronic wound and acute wound. By end user, it is segregated into hospitals, clinics, homecare, and post-acute care settings. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include the AOTI, Inc., Inotec AMD Ltd., GWR Inc., OxyBand Technologies, EO2 Concepts, Mölnlycke Health Care AB, OGENIX and RashEndZ Inc.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global topical oxygen therapy market and the current trends and future estimations to elucidate the imminent investment pockets.It presents a quantitative analysis of the market from 2021 to 2031 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on application assists to understand the trends in the industry.
Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Key Market Segments
By Application
- Chronic Wounds
- Acute Wounds
By End User
- Hospitals
- Clinics
- Home Care
- Post Acute Care Settings
By Region
- 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
Key Market Players
- INOTEC AMD LTD.
- GWR INC.
- AOTI, INC.
- OXYBAND TECHNOLOGIES
- EO2 CONCEPTS
- MöLNLYCKE HEALTH CARE AB
- OGENIX
- RASHENDZ INC.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TOPICAL OXYGEN THERAPY MARKET, BY APPLICATION
CHAPTER 5: TOPICAL OXYGEN THERAPY MARKET, BY END USER
CHAPTER 6: TOPICAL OXYGEN THERAPY MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Topical Oxygen Therapy Market," the topical oxygen therapy market size was $19,889.74 thousand in 2021, and is estimated to reach $27,721.76 thousand by 2031, growing at a CAGR of 3.4% from 2022 to 2031.Topical oxygen therapy, also known as topical wound oxygen therapy (TWO2), is defined as the administration of oxygen applied topically over injured tissue by either continuous diffusion or pressurized systems. However, there are dressings, gels, and hemoglobin sprays that can provide for oxygen release when applied to wounds. Three general types of physical delivery systems for TOT exist in the market including those providing for continuous delivery of oxygen (CDO), those providing low constant pressure in a contained chamber, and those that are cyclically pressurized and humidified in a contained chamber. The Topical Wound Oxygen (TWO2) system differs from other devices in that it applies cyclically pressurized (10-50 mb) pure oxygen within a disposable extremity chamber connected to a stationary oxygen concentrator. Additionally, it is a low-pressure therapy that delivers oxygen to the wound site directly at a pressure of about 1.03 atmospheres. In contrast to hyperbaric oxygen therapy, oxygen is delivered directly to the wound site with no extra oxygen inspiration (HBOT). Humidity can be added to the system if required.
The benefit of this approach is that the higher-pressure gradient (pO2) results in oxygen molecules diffusing deeper into the hypoxic wound tissue to enhance multiple molecular and enzymatic functions. A critical component of wound care is assessment for associated arterial insufficiency. Arterial insufficiency can be the etiology of wound formation or be a limiting factor for the healing. Assessment for arterial insufficiency includes a complete history and physical exam. A screening ankle-brachial index is recommended for chronic lower extremity wounds. If arterial insufficiency is present, the patient should be referred for further workup by a vascular surgeon or specialist. Wounds with associated arterial insufficiency should be considered for revascularization before committing to treatment with hyperbaric or topical oxygen therapy. Following revascularization, topical oxygen therapy may still be indicated if the wound fails to respond to basic wound care.
The key factors that drive the growth of the topical oxygen therapy market size is growth in the incidence of chronic wounds, increase in patient pool of diabetics, and high incidence of wound site infections. In addition, rise in number of surgical procedures and technological advancement in advanced wound care are further topical oxygen therapy market trends. However, lack of awareness in developing countries is likely to hamper the growth of the topical oxygen therapy industry during the forecast period. Conversely, evolution of wound management products and growth of emerging economies are expected to provide numerous opportunities for topical oxygen therapy market forecast.
By application, the chronic wound segment dominated the market in 2021 and is expected to remain dominant during the topical oxygen therapy market analysis period, owing to growing prevalence of chronic wound specifically in geriatric population suffering from diabetics and wound site infection.
Depending on end user, the homecare segment dominated topical oxygen therapy market share in 2021 and is expected to remain dominant during the forecast period, owing to increased costs of medicines & devices, rise in capital costs, and an increase in the numbers of people with chronic conditions require primary and secondary healthcare support.
Region wise, North America dominated the topical oxygen therapy industry in 2021, and is estimated to register a CAGR of 2.7% during the forecast period. Owing to the increasing prevalence of chronic & acute wounds and simultaneously growing treatment rate due to the presence of developed healthcare technology, growing healthcare expenditure by the government, and huge disposable income. Asia pacific is projected to register the highest CAGR of 4.9% during the forecast period. The presence of a large population base, increasing per capita income, growing medical tourism industry, and rising public awareness regarding benefits of topical oxygen therapy devices are the key driving factors that boost the growth of the market in the region.
Key Findings of the Study
- On the basis of application, the chronic wound segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
- On the basis of end user, the homecare segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
- Region-wise, North America garnered the largest revenue share in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR 4.9% during the forecast period.
Companies Mentioned
- Inotec Amd Ltd.
- Gwr Inc.
- Aoti, Inc.
- Oxyband Technologies
- Eo2 Concepts
- Mölnlycke Health Care Ab
- Ogenix
- Rashendz Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 19889.74 thousand |
| Forecasted Market Value ( USD | $ 27721.76 thousand |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
