The global Compression Therapy Market is expected to grow from USD 3.54 billion in 2022 to USD 6.62 billion by 2032, registering a CAGR of 6.2% during the forecast period. The market growth is driven by the increasing prevalence of illnesses such as deep vein thrombosis, lymphedema, and chronic wounds. Compression therapy is the application of external pressure to limbs to enhance blood circulation and minimize swelling. This therapy is widely used in hospitals, clinics, and homecare settings to treat medical disorders. The ageing population, increase in chronic wounds, and rising demand for compression therapy solutions with innovative technology are driving the market's revenue growth. The adoption of telemedicine services is also boosting the market for compression therapy as patients can receive care remotely, which is crucial for chronic disease patients who need frequent follow-up visits and monitoring. Additionally, government regulations and promotion programs are fueling the expansion of the market's revenue. However, the high cost of compression therapy devices and the availability of alternative therapies may hinder the market's growth.
Compression apparel dominates the market for compression therapy in terms of revenue, followed by compression pumps and other items. Compression clothing is a popular option for patients because it is easy to wear and maintain. The compression pumps segment is expected to have the fastest revenue growth during the projection period. Compression pumps are useful for treating venous insufficiency and other persistent diseases that result in discomfort and edema. The others category includes compression bandages, stockings, and other compression devices. The revenue of this segment is expected to expand somewhat during the projection period.
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Several government regulations have been established worldwide to ensure the safety and efficacy of medical devices used in compression therapy. For instance, the U.S. Food and Drug Administration regulates the safety and efficacy of medical devices used in compression therapy, including bandages, wraps, and garments. The European Commission has established standards for the effectiveness of compression products intended to treat venous leg ulcers, and the UK’s National Institute for Health and Care Excellence has published guidelines on the most appropriate use of compression therapy in treating chronic wounds. The Centers for Medicare & Medicaid Services covers some types of compression therapy products under its Durable Medical Equipment program, and the World Health Organization has published guidelines on the use of compression therapy for treating and managing chronic venous diseases.
In conclusion, the global market for compression therapy is expected to grow during the forecast period due to the increasing prevalence of medical disorders that can be treated with this therapy, the ageing population, and rising demand for compression therapy solutions with innovative technology. Compression apparel dominates the market in terms of revenue, followed by compression pumps and other items. Several government regulations have been established worldwide to ensure the safety and efficacy of medical devices used in compression therapy.
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Key Players Operating in Compression Therapy Market
· Medtronic plc
· 3M Company
· Smith & Nephew plc
· Stryker Corporation
· BSN Medical GmbH
· Bauerfeind AG
· Sigvaris AG
· ArjoHuntleigh (Getinge Group)
· Thuasne Group
· medi GmbH & Co. KG
The global Compression Therapy Market has been segmented as follows:
- Product Type Outlook:
· Compression Garments
· Compression Pumps
· Others
- Application Outlook:
· Varicose Veins
· Deep Vein Thrombosis
· Lymphedema
· Others
- Regional scope:
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
- Country scope:
· U.S.
· Canada
· U.K.
· Germany
· France
· BENELUX (Belgium, Netherlands, and Luxembourg)
· China
· India
· Japan
· South Korea
· Brazil
· Saudi Arabia
· UAE
· Turkey
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