Compression Therapy Devices Market is Expected to Grow at a CAGR of 5.2%, Reaching a Valuation of US$ 4.71 Billion from 2023-2030, Data By Contrive Datum Insights

Farmington, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The Global Compression Therapy Devices Market Will Witness A Robust CAGR Of 5.2%, Valued At US$2.98 Billion In 2022, and Expected To Appreciate And Reach US$ 4.71 Billion By 2030. Compression therapy devices are utilized in the treatment of a wide variety of chronic conditions, such as lymphedema, phlebitis, leg ulcers, and thrombosis, in addition to other types of varicose veins. The products that are sold on the global compression therapy devices market are used in these therapeutic applications. They are also used to avoid venous problems during pregnancy and extended travel, such as when someone is flying a long distance. Different products from the worldwide market for compression therapy devices, such as socks, stockings, bandages, or stockings, are utilized in treatment depending on the ailment that has been diagnosed. Compression pumps, one type of product available on the global market for compression therapy devices, are among those that can be applied to and used in and around the affected region.

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Compression Therapy Devices Market Recent Developments:

• In May 2021, AIROS® Medical Inc., a medical technology manufacturer specializing in compression therapy products, announces the launch of the AIROS 6 Sequential Compression Therapy Device and Arm Plus Apparel, shortly after receiving multiple regulatory approvals from the U.S. Food and Drug Administration (FDA). I did. FDA). These new launches will help breast cancer patients battling lymphedema with new treatment options.
• 3M Company signed a 3-year cooperation contract with Labmate in May 2021.
• On November 9, 2018, Brownmed announced the release of the Spark Kinetic Sleeves, which combine compression and kinematics to improve circulation, performance, and support in a variety of daily activities.
• In May 2020, the Arm Plus apparel was launched by AIROS Medical, Inc. and has FDA 510(k) clearance.Arm, shoulder, chest and back lymphedema is treated with this garment.

Compression Therapy Devices Market Dynamics:

Over the next few years, the demand for compression therapy devices will likely be driven by the rise of vascular diseases like venous foot ulcers, diabetic foot ulcers, leg ulcers, and deep vein thrombosis. In the coming years, the global market for compression therapy devices is likely to grow as more people learn about the risks of chronic wound conditions. Also, an increasing number of obese people who are more likely to get vascular diseases could help the global compression therapy devices market grow over the next few years. But the fact that there are alternative treatments for specific target areas and organs could slow the growth of the global compression therapy devices market over the next few years.

Regional Outlook:

North America is expected to keep being the biggest market for compression therapy devices over the next ten years. This is because the number of older people is growing, and sports injuries are also becoming more common. Safe Kids Worldwide, an international group that works to keep kids from getting hurt, says that about 1.3 million sports injuries happen to kids in the United States every year.
Trade, the rise in the number of people who are overweight, and the fast spread of diabetes are all things that are likely to increase the demand for compression garments and devices. This is likely to help the compression therapy devices market growth in the coming years.
The market for compression therapy in North America is worth $1.3 billion and is expected to grow at a compound annual growth rate (CAGR) of 5.5%.
The number of sports injuries is rising, which is expected to lead to moderate growth in the compression therapy devices market in Europe. In Europe, most of the market for compression therapy devices will be in France, Germany, Spain, Italy, and the UK over the next few years.

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Scope of Report:

Compression Therapy Devices Market Key Segments Covered:

Top Market Players:
Mölnlycke Health Care AB, 3M, Arjo (Huntleigh Healthcare Limited), Brownmed, Inc., Essity Aktiebolag (publ) (BSN Medical Inc.,), Cardinal Health., Daesung Maref Co., Ltd, AIROS Medical, Inc. (Devon Medical Products), Enovis (DJO Global, Inc), FlowAid Medical Technologies, Avanos Medical, Inc., (Game Ready), Julius Zorn, Inc., Lohmann & Rauscher GmbH & Co. KG, Medi GmbH & Co. KG, TONUS ELAST SIASwoop Aero Pt. Ltd., Medline Industries, Inc., Paul Hartmann AG, SIGVARIS GROUP, Smith & Nephew, Stryker, Tactile Medical, Thuasne SAS, Zimmer Biomet (Medical Compression Systems (DBN) Ltd.), and Others.

By Type:

• Static Compression Therapy
• Dynamic Compression Therapy
• Other

Product Type:

• Compression Pumps
• Compression Stockings
• Compression Bandages
• Compression Tapes
• Other

By Application:

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Others

Regions and Countries Covered

• North America: (US, Canada, Mexico, Rest of North America)
• Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
• Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
• The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
• Latin America: (Brazil, Argentina, Rest of Latin America)
• Rest Of the World

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