New York, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Global Compression Therapy Market Size is to Grow from USD 4.05 Billion in 2022 to USD 7.18 Billion by 2032, at a Compound Annual Growth Rate CAGR of 5.9% during the forecast period.
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Compression therapy is a medical approach utilizing external pressure to treat circulatory disorders like venous insufficiency, lymphedema, and deep vein thrombosis. By wearing elastic garments, bandages, or pneumatic devices, controlled pressure is applied to the affected area, enhancing blood flow, reducing swelling, and preventing complications. This technique improves patient outcomes and quality of life, making it particularly beneficial for individuals with chronic conditions or recovering from surgery. However, it requires individualized assessment and medical guidance for optimal results.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Compression Therapy Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Compression Pumps, Compression Stockings, Compression Bandages, and Compression Tape), By Technology (Static Compression Therapy and Dynamic Compression Therapy), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032."
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The compression pumps segment is expected to grow at a significant CAGR of around 5.7% during the forecast period
Based on the product type, the global compression therapy market is segmented into compression pumps, compression stockings, compression bandages, and compression tape. Compression pumps are expected to demonstrate substantial growth during the forecast period in the compression therapy market. This anticipated surge is primarily due to their advanced and user-friendly features that offer an effective alternative to traditional compression therapies. Compression pumps utilize pneumatic pressure to deliver controlled and consistent compression, aiding in the management of circulatory conditions like lymphedema and venous insufficiency. The convenience and versatility of compression pumps, coupled with their ability to cater to specific patient needs through adjustable pressure settings, make them increasingly popular among healthcare professionals and patients alike, thus driving their significant growth in the market
The dynamic compression therapy segment is expected to grow at a CAGR of around 6.2% during the forecast period
Based on the technology, the global compression therapy market is segmented into static compression therapy and dynamic compression therapy. Dynamic technology is expected to increase at an exponential rate in the compression therapy market over the projected period. This expansion is mostly driven by technological developments such as smart sensors, connection features, and data analytics. These technologies enable dynamic compression devices to provide greater capabilities for monitoring, modifying, and optimizing compression treatment. Smart features offer real-time feedback, personalized treatment regimens, and remote monitoring, resulting in better patient results and convenience. The increased need for sophisticated and new healthcare solutions, together with the increasing acceptance of digital health technologies, is predicted to accelerate dynamic technology's exponential rise in the compression treatment market.
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Asia-Pacific is predicted to grow at a significant CAGR of around 6.1% over the projected period.
Based on region, Asia Pacific is poised to experience a lucrative growth rate in the compression therapy market during the forecast period. The region's large and rapidly growing population presents a substantial pool of potential patients suffering from various circulatory disorders that could benefit from compression therapy. Additionally, improving healthcare infrastructure, rising healthcare expenditure, and increasing awareness about advanced medical treatments are driving the demand for compression therapy products. Furthermore, the prevalence of chronic diseases like diabetes and obesity, which are risk factors for conditions like venous insufficiency, is on the rise in the region. These factors, coupled with the entry of key market players, innovative technologies, and supportive government initiatives, create a favorable environment for substantial market growth in the Asia Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. major players in the global compression therapy market include Cardinal Health, Julius Zorn GmbH, Hartmann AG, Medi GmbH & Co., SIGVARIS, BSN Medical GmbH, ArjoHuntleigh, 3M Health Care, Spectrum Healthcare, Bio Compression Systems, Inc., Stryker, and Gottfried Medical and others.
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Recent Developments
- In June 2022, Stryker has launched a new research & development facility in India, covering an extensive area of 150,000 square feet. The facility's primary objective is to foster innovation within India and on a global scale, reinforcing the company's commitment to enhancing healthcare worldwide. This strategic move aligns with Stryker's mission to continually improve healthcare standards and services.
- In February 2022, Therabody unveiled its latest product, the second generation of Recovery Air pneumatic compression boots. These boots feature cutting-edge technology, enabling more efficient post-recovery for users. With advanced pneumatic compression, the boots aid in improving blood circulation and reducing muscle soreness and swelling, ensuring an effective and accelerated recovery process for individuals.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Global Compression Therapy Market based on the below-mentioned segments:
Compression Therapy Market, By Product Type
- Compression Pumps
- Compression Stockings
- Compression Bandages
- Compression Tape
Compression Therapy Market, By Technology
- Static Compression Therapy
- Dynamic Compression Therapy
Compression Therapy Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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