Compression Bandages Market Size, Trends, Share Analysis, Size And Forecast To 2033

The compression bandages market size has grown strongly in recent years. It will grow from $1.54 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to prevalence of chronic diseases, advancements in material and design, regulatory support, medical advancements.

The compression bandages market size is expected to see strong growth in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to growing healthcare expenditure, expansion of e-commerce, customization and personalization, focus on preventive healthcare. Major trends in the forecast period include rising demand for fashionable compression stockings, shift towards sustainable materials, digital health integration, telemedicine and remote consultations.

Market Overview -
Compression bandages are elastic wraps or garments applied to a specific body part to exert controlled pressure and provide support. They are commonly used in medical settings to improve circulation, reduce swelling, and support injured or weakened tissues.

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Impact Of Chronic Wound Prevalence On The Compression Bandage Market
The increasing prevalence of chronic wounds is expected to propel the growth of the compression bandage market going forward. Chronic wounds are injuries to the skin that fail to progress through the normal stages of wound healing and persist for an extended period of time. The prevalence of chronic wounds is rising due to aging populations and unhealthy lifestyles, including poor diet and a lack of exercise. Compression bandages help manage chronic wounds by reducing swelling, improving circulation, alleviating pain, and preventing complications. Compression bandages can assist in wound contraction and closure by providing external support to the wound bed and surrounding tissues. For instance, in January 2024, according to Memorial Hospital of Carbon County, a US-based critical access hospital, approximately 6.7 million individuals were presently suffering from chronic wounds, and this figure is projected to increase by over 2% over the next decade. Additionally, chronic wounds represent a cost of more than $50 billion to the healthcare system. Therefore, the increasing prevalence of chronic wounds is driving the growth of the compression bandage market.

Competitive Landscape -
Major companies operating in the compression bandages market are Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic Plc, Essity AB, Medline Industries Inc., B. Braun Melsungen AG, Smith & Nephew plc, Coloplast A/S, Paul Hartmann AG, ConvaTec Group Plc, Mölnlycke Health Care AB, Integra LifeSciences Corporation, Beiersdorf AG, Lohmann & Rauscher GmbH & Co. KG, DJO Global Inc. , Thuasne Group, BSN medical GmbH, Talley Group Limited, DeRoyal Industries Inc., Arjo AB, Bauerfeind AG, L&R Group, medi GmbH & Co. KG, Oppo Medical Inc.

Innovations In Mini Compression Bandages For Enhanced Wound Care
Major companies operating in the compression bandage market are developing innovative products, such as mini compression bandages, to provide enhanced wound care and medical compression therapy. Mini compression bandages are compact and versatile medical products designed for bleeding control in cases of minor to moderate trauma, emphasizing the critical aspect of time in saving lives during emergencies. For instance, in February 2021, H&H Medical Corporation, a US-based manufacturer of critical trauma care products, launched Mini 2x Gauze Compression, a mini compression bandage designed to offer advanced solutions for various medical needs, including wound care and compression therapy. This product combines gauze for wound packing and wrapping with a compression bandage, providing a compact and effective solution for bleeding control. It is designed to be sterile, single-use, and ideal for on-the-go trauma response, emphasizing its convenience and effectiveness in emergencies.

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Key Segments -
The compression bandages market covered in this report is segmented -
1) By Product: Short Stretch Bandages, Long Stretch Bandages, Multilayer Compression Bandages
2) By Material: Polyester, Latex, Cotton, Other Materials
3) By Application: Wound Management, Deep Vein Thrombosis, Lymphedema, Other Applications
4) By End-User: Hospitals And Ambulatory Surgical Centers, Clinics, Nursing Care Centers And Skilled Nursing Facilities, Home Care, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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