Westford, USA, Nov. 09, 2022 (GLOBE NEWSWIRE) -- SkyQuest's analysis shows that the demand for compression therapy market is being driven by several factors, including an aging population, the increasing prevalence of chronic diseases, and the growing popularity of active lifestyles. The aging population is particularly important, as older adults are more likely to suffer from conditions that can be treated with compression therapy, such as venous insufficiency and lymphedema.
The rising prevalence of chronic diseases and sports injuries is the major factor driving the growth of compression therapy market. In addition, the increasing awareness about the benefits of compression therapy and the availability of advanced products are also fueling market growth. However, the high cost of treatment and lack of skilled personnel are restraining factors for this market.
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North America to Contribute Largest Revenue, but is likely to Grow at the slowest Pace
What's more, we project that the demand for compression therapy market will continue to grow in both developed and emerging markets. In developed markets, such as the United States, Western Europe, and Japan, growth will be driven by an aging population and the increasing prevalence of chronic diseases. Meanwhile, in emerging markets like China and India, we expect growth to be driven by the increasing popularity of active lifestyles.
The North American market is expected to grow at a slightly slower pace than the global market, due to lower rates of growth in the US and Canada. However, Europe is expected to grow at a faster pace than the North American compression therapy market, due to higher rates of growth in countries such as Germany, France, and the United Kingdom.
The demand for compression therapy products is also being driven by a shift in how these products are being used. In the past, compression therapy was primarily used to treat venous conditions such as varicose veins and edema. However, there has been an increasing awareness of the potential benefits of compression therapy for other conditions such as lymphedema, deep vein thrombosis (DVT), and chronic venous insufficiency (CVI). As a result, more people are using compression therapy products to prevent or relieve these conditions.
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Cold Pain Therapy is Strengthening its Position Compression Therapy Market
7 out of 10 people will experience some form of musculoskeletal pain in their lifetime. It is the most common type of pain, accounting for $61 billion in healthcare costs annually in the United States alone. Of all the available treatments for musculoskeletal pain, cold therapy is one of the simplest and most effective.
Cold therapy works by numbing the area around the pain, which reduces inflammation and speeds up healing. It can be used to treat a wide variety of conditions in the global compression therapy market. It is often used to treat injuries such as sprains, strains, and fractures, but can also be used for conditions such as arthritis, carpal tunnel syndrome bursitis, tendinitis, and muscle strains. Cold therapy is also an effective way to reduce post-operative pain and swelling.
As per SkyQuest study, there are a number of different ways to deliver cold therapy, including ice packs, gel packs, and compression wraps. Ice packs are the most common type of cold therapy, but they can be uncomfortable to use for long periods of time. Gel packs and compression wraps are more comfortable and provide better coverage than ice packs.
Most insurance companies will reimburse for cold therapy treatment, making it an affordable option for patients in the global compression therapy market. Cold therapy is safe for both short-term and long-term use, with few side effects reported. The potential market for cold therapy products is large and growing, making it an attractive investment opportunity for companies in the compression therapy industry.
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SkyQuest’s Survey Reveals Bandages are the Most Popularly Used Compression Therapy
Our new study found that the demand for compression pumps is on the rise, as more and more people look to compression therapy to improve their health. According to the study, the number of people who are using compression pumps has increased by 30% over the past 2 years, with even higher growth rates in some compression therapy markets. This increase in demand is being driven by a growing awareness of the benefits of compression therapy, which include improved circulation, reduced swelling, and pain relief.
167 physicians completed a questionnaire about their use of compression therapy. The questionnaire asked about indications for compression therapy, type of compression garment worn, number of garments worn simultaneously, duration of wear, and perceived efficacy.
52% of respondents in the global compression therapy market reported using elastic compression most often, 33% reported using inelastic or short-stretch bandages most often, and 15% reported using both equally. Elastic compression was used more frequently for patients with venous insufficiency than for those with lymphatic dysfunction or postoperative swelling (P < .001). Inelastic or short-stretch bandages were used more frequently for patients with postoperative swelling than for those with venous insufficiency or lymphatic dysfunction (P < .001). There was no significant difference in the perceived efficacy of different types of compression Therapy (P = .07).
The majority of respondents in the compression therapy market reported that their pain was significantly reduced after starting compression therapy, and that they were able to return to normal activities more quickly than before. Many also said that their quality of life had improved after starting treatment.
A small number of respondents did report some side effects from compression therapy, such as skin irritation or discomfort from the garment, but these were generally minor and resolved with time.
Key Players in Global Compression Therapy Market
- Medi GmbH & Co. KG (Germany)
- Medtronic plc (Ireland)
- SIGVARIS GROUP. (US)
- Juzo (Germany)
- PAUL HARTMANN AG (Germany)
- 3M (US)
- Spectrum Healthcare. (India)
- BIOCOMPRESSION SYSTEMS (US)
- Gottfried Medical, Inc. (US)
- BSN medical (Germany)
- Arjo. (Sweden)
- DJO, LLC (US)
- Tactile Medical (US)
- SANYLEG SRL a socio unico (Italy)
- Cardinal Health. (US)
- Devon Medical Products (US)
- THUASNE SAS (US)
- ACI Medical, LLC (US)
- Ofa Bamberg GmbH (Germany)
- Mego Afek A.C. ltd. (Israel)
- Medline Industries, Inc. (US)
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