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Compression Therapy Market – By Product (Compression Garments [Bandages, Stockings], Braces, Tapes, Pumps), Technology (Static, Dynamic), Application (Varicose Vein, Leg Ulcer, Deep Vein Thrombosis), Distribution Channel – Global Forecast 2024 – 2032
Report ID: GMI2504
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Published Date: August 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 210
Countries covered: 23
Pages: 140
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Compression Therapy Market Size
Compression Therapy Market size was valued at around USD 3.4 billion in 2023 and is expected grow at a CAGR of 5.5% from 2024 and 2032. Compression therapy is a medical treatment technique used to enhance circulation and manage various conditions related to blood flow and swelling in the extremities, particularly the legs and arms.
It involves applying pressure to the affected area using specialized garments or wraps, which helps to improve blood flow, reduce fluid buildup (edema), and alleviate symptoms such as swelling, pain, and discomfort. The high market growth can be primarily attributed to factors such as the rising incidence of diabetes and obesity, technological advancements in products, and the increasing prevalence of chronic venous disorders and lymphedema, among others.
The increasing incidence of sports injuries and accidents is a significant driver for the growth of the compression therapy market. Athletes and individuals recovering from sports injuries or accidents seek methods to expedite their healing process. Compression therapy is widely recognized for its effectiveness in reducing swelling, improving blood circulation, and accelerating recovery. For instance, according to data reported by the National Safety Council (NSC), in 2021, there were over 3.5 million sports-related injuries treated in emergency departments across the U.S. This high incidence highlights the need for effective treatment and recovery solutions, including compression therapy.
Compression Therapy Market Trends
Recent technological advancements in compression therapy are significantly driving market growth by enhancing the effectiveness, convenience, and appeal of compression therapy products.
Compression Therapy Market Analysis
Based on product, the market is categorized into compression garments, compression braces, compression tapes, and compression pumps. The compression garments segment dominated the market with a revenue of around USD 1.7 billion in 2023.
Based on technology, the compression therapy market is categorized into static compression therapy and dynamic compression therapy. The static compression therapy segment is anticipated to dominate the market with the revenue of 4.7 billion by 2032.
Based on application, the compression therapy market is categorized into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The varicose vein treatment segment held majority market share with a revenue of around USD 1.3 billion in 2023.
Based on distribution channel, the compression therapy market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market with a revenue of around USD 1.7 billion in 2023.
North America compression therapy market was valued at USD 1.1 billion in 2023 and is predicted to witness substantial market growth over the analysis timeline.
The U.S. compression therapy market is anticipated to reach USD 1.5 billion by 2032, driven by numerous factors.
The compression therapy market in UK is expected to experience significant and promising growth from 2024 to 2032.
Japan compression therapy market is anticipated to witness lucrative growth between 2024 – 2032.
Compression Therapy Market Share
The compression therapy industry is fragmented in nature, with various large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel products with improved efficiency and cost-effectiveness are key market strategies for compression therapy manufacturers, driving competition and innovation in the industry. This emphasis on innovation aims to address evolving clinical needs and enhance patient outcomes, positioning companies to gain market share and meet the growing demand for advanced compression therapy.
Compression Therapy Market Companies
Some of the eminent market participants operating in the compression therapy industry include:
Compression Therapy Industry News:
The compression therapy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Product
Market, By Technology
Market, By Application
Market, By Distribution Channel
The above information is provided for the following regions and countries: