Compression Therapy Market Value Hits $3.2 Billion in 2021 | CAGR of 5.4%
Allied Market Research has recently published its latest research study titled ‘Global Compression Therapy Market Outlook and Forecast 2021-2031.’ This comprehensive report conducts a thorough analysis of market risks, identifies promising opportunities, and offers valuable insights to support strategic and tactical decision-making from 2021 to 2031. The study divides the market into key regions that are driving its growth. Within the report, you’ll find information on market research and development, factors contributing to growth, and the evolving investment landscape of the Global Compression Therapy Market. Notable players featured in the study include Convatec Group PLC, Gottfried Medical, Inc., Juzo, Tactile Medical, Spectrum Healthcare,
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Compression Therapy Market Statistics: The global Compression Therapy Market Size was valued at $3.2 billion in 2021, and is projected to reach $5.4 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Compression Therapy Market Growth Drivers:
- Increasing Prevalence of Chronic Diseases: The rising prevalence of chronic diseases such as venous disorders, lymphedema, diabetes, and obesity contributes to the growing demand for compression therapy. These conditions often require compression garments to manage symptoms and improve quality of life.
- Aging Population: With the global population aging, there is a higher incidence of age-related conditions such as venous insufficiency and deep vein thrombosis (DVT). Compression therapy is commonly prescribed for older adults to prevent and manage these conditions, driving market growth.
- Growing Awareness and Education: Increased awareness among patients and healthcare professionals about the benefits of compression therapy in preventing venous ulcers, improving circulation, and reducing swelling drives market expansion. Educational campaigns and initiatives further promote the adoption of compression therapy.
- Technological Advancements: Continuous innovations in compression therapy products, including advanced materials, garment designs, and compression devices, enhance comfort, efficacy, and patient compliance. Technological advancements drive market growth by offering improved treatment options.
- Expansion of Indications: Compression therapy is increasingly used across various medical specialties, including vascular surgery, dermatology, orthopedics, and sports medicine. The expanding indications for compression therapy broaden its market potential and drive adoption in diverse patient populations.
- Preventive Healthcare Initiatives: With a growing focus on preventive healthcare, compression therapy is gaining recognition as a preventive measure against venous disorders, especially among individuals at risk, such as those with a family history of venous insufficiency or individuals who stand or sit for long periods.
- Rising Sports and Fitness Trends: Compression garments are widely used by athletes and fitness enthusiasts to improve performance, aid recovery, and prevent muscle fatigue. The growing popularity of sports and fitness activities contributes to the expansion of the compression therapy market.
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The segments and sub-section of Compression Therapy Market is shown below:
By Distribution channel:
- Hospital pharmacies
- Retail pharmacies
- E- commerce
- Others
By Technique:
- Static Compression Therapy
- Dynamic Compression Therapy
By Application:
- Lymphedema Treatment
- Leg Ulcer Treatment
- Other Applications
- Varicose Vein Treatment
- Deep Vein Thrombosis Treatment
Some of the key players involved in the Market are: Convatec Group PLC, Gottfried Medical, Inc., Juzo, Tactile Medical, Spectrum Healthcare, Cardinal Health Inc., 3M, Biocompression Systems, Sigvaris Group, Arjo
If opting for the Global version of Compression Therapy Market; then below country analysis would be included:
– North America (USA, Canada and Mexico)
– Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland and Rest of Europe)
– Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia and Rest of APAC)
– South America (Brazil, Argentina, Chile, Colombia, Rest of countries etc.)
– Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)
Restraining Factors of the Compression Therapy Market
- High Cost of Compression Products: Affordability remains a concern for some patients, particularly in regions with limited healthcare coverage.
- Adherence Challenges: Compliance with wearing compression garments can be difficult for some patients, affecting treatment outcomes.
- Availability of Alternatives: Alternative therapies or procedures may compete with compression therapy, impacting market growth in certain segments.
Key Questions Answered with this Study:
1) What makes Compression Therapy Market feasible for long term investment?
2) How influencing factors driving the demand of Compression Therapy in next few years?
3) Territory that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Compression Therapy Market?
6) What strategies of big players help them acquire share in mature market?
7) Know value chain areas where players can create value?
8) What is the impact analysis of various factors in the Global Compression Therapy Market growth?
9) Risk side analysis connected with service providers?
Introduction about Compression Therapy Market
Compression Therapy Market Size (Sales) Market Share by Type (Product Category)
Compression Therapy Market by Application/End Users
Compression Therapy (Volume) and Market Share Comparison by Applications
Global Compression Therapy and Growth Rate (2021-2031)
Compression Therapy Competition by Players/Suppliers, Region, Type, and Application
Compression Therapy (Volume, Value, and Sales Price) table defined for each geographic region defined.
Compression Therapy Players/Suppliers Profiles and Sales Data
Key Raw Materials Analysis & Price Trends
Supply Chain, Sourcing Strategy and Downstream Buyers, Industrial Chain Analysis
……..and view more in complete table of Contents
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Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, or Southeast Asia.
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