Rise in incidence of chronic wounds, surge in patient pool of diabetics, and high prominence of wound site infections drive the growth of the market.

PORTLAND, OREGON, UNITED STATES, October 17, 2022 /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 report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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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.

Growth in the incidence of chronic wounds, increase in patient pool of diabetics, and high incidence of wound site infections, along with rise in number of surgical procedures and technological advancement in advanced wound care fuel growth of the topical oxygen therapy market.

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.

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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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.

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

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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