NEWARK, Del, April 09, 2024 (GLOBE NEWSWIRE) -- The sales revenue accredited to compression therapy market has attained a prominent statistic of US$ 3,371.70 million in 2024, inferring a striking competitive position. Projections demonstrate an optimistic trajectory for the compression therapy market, scheduled to magnify appreciably to US$ 5,925.20 million by 2034.
This growth momentum reflects an average CAGR of 5.80% from 2024 to 2034, implying sustained capital appreciation and development prospects of compression therapy. This trend highlights the amplifying trends of compression therapy within the broader healthcare landscape.
A significant market trigger is an upward trend in the occurrence of vein disorders. The vein illnesses are treated with products, like bandages and stockings, which advances the compression therapy market expansion.
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Many people were admitted to hospitals in several nations owing to the COVID-19 virus's quick spread and catastrophic risk to human life. The compression Therapy market had capitalized from the surge in the number of hospitalized patients.
The compression therapy industry perceives a noteworthy evolution potential due to the amplifying adoption of compression garments in sports medical Therapys. The adoption of compression therapy to reduce swelling and inflammation after injury is springing up. These products are widely used to augment muscle health by hindering fluid coagulation in tissue space and stimulating blood circulation in the body.
Regional Outlook of Compression Therapy Market:
North America majorly controls the compression therapy market. The market share acquired is due to obesity and an aging population. The growth catalysts comprise the prevalence of advantageous government reimbursement schemes and amplifying healthcare awareness. An additional trend is the rising prevalence of chronic vein diseases (CVD) thrusting the compression therapy market growth in North America.
Asia Pacific is mushrooming at an economical rate. The compression therapy market is ushered by sizable research and development costs and persistent efforts of the producers to commercialize goods at comparatively moderate costs. The surging disposable income, which intensifies the adoption potential, and continual improvements of the healthcare system bestow lucrative growth prospects for the therapeutic compression industry.
“The compression therapy market is set to experience consistent proliferation, ushered by the booming frequency of vascular disorders, the elderly population, and enhancing awareness concerning venous diseases commonly known as chronic venous insufficiency (CVI). The high-tech evolutions and amplifying usage escalate compression Therapy market expansion.”, remarks Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Key Takeaways from the Compression Therapy Market:
- The chronic ulcers segment in the indication category to clutch a share of 68.30% in 2024.
- In the product type category, the static compression therapy segment to grip a market share of 91.10% in 2024.
- China compression therapy market exhibit upsurge at CAGR of 7.70% between 2024 and 2034.
- Canada compression therapy market denotes a CAGR of 6.70% through 2034.
- Through 2034, the United Kingdom compression therapy market show escalation at a CAGR of 6.50%.
- France therapeutic therapy industry reflects expansion between 2024 and 2034 at a CAGR of 6.10%.
- Brazil therapeutic compression market implies progression at a CAGR of 5.90% through 2034.
- The United States compression Therapy industry infer augmentation at a CAGR of 5.70% between 2024 and 2034.
- Between 2024 and 2034, Italy compression therapy industry imply proliferation at a CAGR of 5.60%.
- Through 2034, Spain compression Therapy market show intensification at a CAGR of 5.20%.
- Japan sales of compression therapies indicate a CAGR of 5.10% through 2034.
- Germany compression therapy market signifies a CAGR of 4.70% through 2034.
- From 2024 to 2034, Mexico therapeutic compression market equates at a CAGR of 4.30%.
Competitive Landscape from the Compression Therapy Market:
Major compression therapy manufacturers focus on strengthening their consumer base through mergers, acquisitions, and modifications to a global and local market. The three main strategies of the compression therapy vendors are acquisition, regulatory approval, and the emergence of new products.
Prominent therapeutic compression producers emphasize creating novel, reasonably priced items and securing distribution deals to amplify market penetration. The compression Therapy providers are setting up production units in Asia Pacific to mitigate manufacturing costs.
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Prominent Compression Therapy Manufacturers
- Paul Hartmann AG
- Sigvaris AG
- BSN Medical GmbH
- Cardinal Health Inc.
- 3M Health Care Ltd
Current Advances
- Owing to a joint venture between Mego Afek, an icon in sequential compression therapy, and Mueller Sports Medicine, an esteemed innovator in sports medical care for over 60 years, athletes and consumers have access to Therapy for enhanced circulation and healing in June 2022.
- The medical tech business AIROS Medical Inc., which is proficient in compression Therapy solutions, proclaimed in May 2021 the rollout of Arm Plus garments and AIROS 6 Sequential Compression Therapy devices.
Segmentation of Compression Therapy Market:
By Product Type:
- Pneumatic Compression Therapy
- Non-segmented Pneumatic Compression Pumps
- Pneumatic Compression Sleeves
- Lower Pneumatic Compression Sleeves
- Upper Pneumatic Compression Sleeves
- Segmented Pneumatic Compression Pumps
- Segmented Pneumatic Compression Pumps with Calibrated Gradient
- Segmented Pneumatic Compression Pumps without Gradient
- Static Compression Therapy
- Anti-embolism Stockings
- Compression Bandages
- Compression Garments
- Lower Compression Garments
- Upper Compression Garments
By Indication:
- Chronic Ulcers
- Venous Leg Ulcers
- Diabetic Foot Ulcers
- Pressure Ulcers
- Non-healing Surgical Wounds
- Traumatic Wounds
- Burn Cases
By Distribution Channel:
- Institutional Sales
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Nursing Facilities
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Have a Look at the Related Report from the Compression Therapy Market:
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Authored by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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