Meticulous Research—a leading global market research
company, published a research report titled, ‘Compression
Therapy Market by Product (Bandages, Stockings, Wraps, Socks,
Pumps) Technique (Static, Dynamic) Condition (Varicose Vein, Lymphedema, DVT,
Leg Ulcer) Distribution Channel (E-commerce, Hospital, Pharmacy & Retailer)
- Global Forecast to 2030.’
According to this latest publication from Meticulous
Research, the compression therapy market is expected to reach $5.88 billion by
2030, at a CAGR of 3.8% from 2023 to 2030.The growth of this market is
attributed to various factors, including the rising geriatric population, the
increasing prevalence of chronic diseases, the growing number of sports
injuries and accidents, a rise in orthopedic procedures, the increasing cases
of varicose vein diseases and deep vein thrombosis (DVT), the growing
acceptance of compression therapy products as a preventive measure, and the
minimal side effects and wide-ranging advantages of compression therapy.
Furthermore, emerging economies are expected to provide significant market
growth opportunities.
However, the lack of adherence to compression therapy among
patients, the need to reduce healthcare costs, and the lack of awareness of
compression therapy may restrain the market’s growth. Furthermore, the adoption
of alternative technologies and an inadequate reimbursement structure are some
challenges for players operating in this market.
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Key Players
The key players operating in the compression therapy market
include 3M Company (U.S.), Essity (Sweden), BIOCOMPRESSION SYSTEMS (U.S.), Arjo
(Sweden), Convatec Inc. (U.K.), Cardinal Health (U.S.), PAUL HARTMANN AG
(Germany), Medline Industries, Inc. (U.S.), Juzo (Germany), DJO, LLC (U.S.),
Smith+Nephew (U.K.), SIGVARIS GROUP (U.S.), and Medi GmbH & Co. KG (Germany).
Compression Therapy Market: Outlook
The compression therapy market is segmented by Product
[Bandages, Garments (Stockings, Socks, Wraps, and Others), Pumps], Technique
(Static Compression Therapy and Dynamic Compression Therapy), Condition
(Varicose Vein Diseases, Deep Vein Thrombosis, Lymphedema Treatment, Leg Ulcer,
and Others), Distribution Channel (Hospitals & Clinics, Pharmacies &
Retailers, E-commerce, and Others), and Geography. The study also evaluates
industry competitors and analyzes the market at the regional and country
levels.
Among the products covered in this report, in 2023, the
bandages segment is expected to account for the largest share of the market.
The significant market share of this segment is primarily due to their
widespread use as a first-line treatment for edema and venous disorders.
Additionally, they are readily available at a low cost off the shelf and are in
high demand due to the increasing prevalence of conditions like varicose veins,
chronic edema, and lymphedema among the geriatric population.
Among the techniques covered in this report, in 2023, the
static compression therapy segment is expected to account for the largest share
of the market. The significant market share of this segment is attributed to
the widespread adoption of static compression therapy due to its benefits,
including enhanced comfort during extended use, cost-effectiveness,
user-friendly application, and the reliable delivery of consistent pressure.
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Among the conditions covered in this report, in 2023, the
varicose vein diseases segment is expected to account for the largest share of
the market. The significant market share of this segment can be attributed to
the increasing prevalence of varicose vein-related disorders among the elderly
population, advancements in vain-specific compression therapeutic devices, and
the growing number of obese individuals who are at a higher risk of developing
varicose veins.
Among the distribution channels covered in this report, in
2023, the pharmacies & retailers’ segment is expected to account for the
largest share of the market. The significant market share of this segment is
attributed to the growing demand for compression therapy products and their
wide accessibility through pharmacies that operate around the clock.
Geographic Review
This research report analyzes major geographies and provides
a comprehensive analysis of North America (U.S. and Canada), Europe (Germany,
France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan,
India, and Rest of Asia-Pacific), Latin America, and the Middle East &
Africa. In 2023, North America is expected to account for the largest share of
the compression therapy market. North America’s significant market share can be
attributed to several factors, including the growing elderly population, high
healthcare expenditures, a rising number of individuals with chronic
conditions, and the presence of major market players. According to the U.S.
Census Bureau and Population Estimates and Projections, the country's geriatric
population is expected to surpass 80 million by 2040, up from 56.1 million in
2020. This demographic shift is contributing to a higher incidence of chronic
diseases such as diabetes and vein-related disorders, driving the demand for
home care treatments and targeted therapies.
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Key questions answered in the report-
Which are the high-growth market segments in terms of
product, technique, condition, distribution channel, and country/region?
What was the historical market for compression therapy
across the globe?
What are the market forecasts and estimates for the period
2023–2030?
What are the major drivers, restraints, challenges, and
opportunities in the global compression therapy market?
Who are the major players in the global compression therapy
market?
How is the competitive landscape, and who are the market
leaders in the global compression therapy market?
What are the recent developments in the compression therapy
market?
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