Compression Therapy Market Is Booming Across The Globe By 2028

According to Precision Business Insights (PBI) latest report the global compression therapy market is valued at USD 2,539.2 million in 2021. Global compression therapy market segmented into following types: By Technology (Static Compression Therapy and Dynamic Compression Therapy), By Product (Compression Garments, Compression Pumps, and Compression Braces), By Application (Venous Leg Ulcers, Deep Vein Thrombosis Treatment, Lymphedema Treatment, and Others) and Geography (North America, Europe, Asia-Pacific, Latin America, and MEA) Forecast to 2028. Key player's profiles in the compression therapy market report are 3M Company, ArjoHuntleigh, Inc, Bio Compression Systems, Inc, ConvaTec, Inc, DJO Global, Inc, Medi GmbH & Co. KG, Medtronic PLC, Paul Hartmann AG, SIGVARIS, Inc, Smith & Nephew PL, Tactile Medical. Compression therapy devices are in high demand as the prevalence of target diseases such as deep vein thrombosis (DVT), varicose veins, and lymphedema continues to rise. Compression therapy provides significant benefits in treating various target diseases such as leg and foot ulcers, hypertension, and venous reflux. Therefore, the market is predicted to grow. Because there are no industry-wide standards, many products are accessible at various price points and with varying degrees of medical efficacy. The variable efficacy of multiple products may undermine customer confidence in compression therapy, limiting the market's growth.

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Compression Garments Segment Dominates the Compression Therapy Market:
Over the analysis period, compression garments are expected to dominate market growth. The segment is growing due to a rise in the number of surgeries performed and increased sports-related injuries. These garments also aid in reducing muscular stiffness and speeding up recovery time after exercise. Compression garments have historically been used in medicine to treat venous insufficiency and edema and to prevent deep vein thrombosis in patients recovering from surgery. The industry is also growing due to the increasing commercial availability of aesthetically beautiful compression stockings and socks. Due to their broad usage in the treatment of venous and lymphatic disorders, as well as lower extremity edema, compression bandages are projected to gain in popularity.

North America Leads Compression Therapy Market:
In 2021, the North American market was valued at USD 859.7 million, owing to private and governmental sector investment in healthcare research and development. Furthermore, the region's expanding senior population and strong presence of multinational firms are expected to help it lead the compression therapy market share over the projection period. The creation and launch of innovative products by regional firms will be the major growth driver in Europe. On the other hand, the Asia-Pacific market is likely to benefit from an increasing number of patients with lymphatic and venous disorders.

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Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global compression therapy market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In October 2021, Tactile Systems Technology, Inc. a medical technology company focused on developing medical devices for the treatment of underserved chronic diseases at home, today announced it has acquired the assets of the AffloVest respiratory therapy business from International Biophysics Corporation, a privately held company which developed and manufactures AffloVest. In December 2020, Arjo announced the acquisition of AirPal, a privately owned US-based company specializing in Air-Assisted Lateral Patient Transfer solutions. The deal will strengthen Arjo's Patient Handling portfolio and is expected to have a positive impact on earnings per share from 2022 and onwards.

Detailed Segmentation
Based on the Technology:
• Static Compression Therapy
• Dynamic Compression Therapy

Based on the Product:
• Compression Garments
• Compression Pumps
• Compression Braces

Based on the Application:
• Venous Leg Ulcers
• Deep Vein Thrombosis Treatment
• Lymphedema Treatment
• Other Applications

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