Compression Therapy Market to Reach US$ 5,157.4 Million by End of 2027, as per a TMR Study

Posted on 2024-03-19 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-19 — /EPR Network/ — Transparency Market Research Inc. –

In Transparency Market Research’s most recent report on the global compression therapy market, covering the historical period from 2017 to 2018 and forecasting through 2027, it is highlighted that the demand for compression therapy products worldwide is being propelled by several factors. These include the increasing incidence of sports injuries, a rise in orthopedic surgeries, and the rapidly growing obese population. Despite this positive trajectory, market growth may face obstacles due to the absence of favorable reimbursement policies concerning the treatment of vascular diseases with compression products.

As per the report, the global compression therapy market achieved a valuation of US$ 3.2 billion in 2018. Over the forecast period from 2019 to 2027, it is expected to maintain a steady expansion at a compound annual growth rate (CAGR) of 6.1% to reach a value of US$ 5,157.4 million.

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Rising sports injuries boost demand for compression therapy products: Key Drivers

Compression products find widespread use among athletes and sports enthusiasts due to their ability to alleviate muscle pain, improve mobility, and enhance athletic performance. Sports injuries, stemming from various competitive, recreational, or mandatory physical activities, are prevalent, with high school athletes alone contributing to 2 million injuries, 50,000 doctor visits, and 30,000 hospitalizations annually in the U.S.

Consequently, healthcare professionals such as chiropractors and physiotherapists frequently employ these products, catering to both amateur and professional athletes as well as their regular clinic patients. Therefore, the increasing incidence of sports injuries and the growing preference among healthcare professionals are poised to drive the adoption of compression therapy products in the forecast period.

Competitive Landscape:

3M Health Care,ArjoHuntleigh,Bio Compression Systems, Inc,BSN Medical,Covidien plc,medi GmbH & Co KG,PAUL HARTMANN AG,SIGVARIS MANAGEMENT AG,.

Segmentation:

Technology

Static
Dynamic

Product

Compression Pump

Intermittent
Sequential

Compression Stocking

Compression Bandage

Compression Tape

Global Compression therapy Market: Key Developments

In 2015, BSN MEDICAL acquired Wright Therapy Products, Inc., a manufacturer of compression therapy systems to strengthen its presence in the compression therapy market.

Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

Market Drivers and Challenges:

Drivers:
- Increasing prevalence of chronic diseases.
- Growing geriatric population.
- Advancements in compression therapy technology.
- Rising awareness about the benefits of compression therapy.
Challenges:
- Reimbursement challenges in certain regions.
- Limited availability of skilled professionals.
- Concerns regarding the discomfort associated with compression therapy.

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Market Trends:

Adoption of innovative materials for manufacturing compression garments.
Integration of wearable technology in compression therapy devices.
Customization of compression therapy products for specific patient needs.
Expansion of product portfolios by key market players through strategic partnerships and acquisitions.

Future Outlook: The compression therapy market is poised for continued growth in the coming years, driven by technological advancements, expanding applications, and increasing healthcare expenditure worldwide. Moreover, the growing emphasis on preventive healthcare and the rising demand for non-invasive treatment options will further boost market expansion.

Key Market Study Points:

Market size and forecast analysis.
Competitive landscape assessment.
Regulatory landscape and reimbursement scenario analysis.
Technological advancements and product innovations.
Consumer preferences and buying behavior analysis.

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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