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Home Sequential Compression Devices Market 2024 - By Growth Rat, Share, Analysis, Outlook and Forecast To 2033
Home Sequential Compression Devices Market
According to The Business Research Company's, The home sequential compression devices market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to rise in the incidence rates of diabetes, growth in the aging population, rise in healthcare costs, post-surgical recovery, shift towards home healthcare.
The home sequential compression devices market size is expected to see strong growth in the next few years. It will grow to $1.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to the rising global health awareness, government initiatives and policies, expansion of distribution channels, patient preference for non-invasive treatments, aging population. Major trends in the forecast period include technological advancements, growing adoption of telemedicine, personalized healthcare solutions, remote work trends, smart device integration.
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Market Drivers and Trends:
The rising incidence rates of diabetes are expected to propel the growth of the home sequential compression device market going forward. Diabetes is a chronic metabolic condition characterized by high blood sugar levels due to inadequate insulin synthesis or poor insulin use. The rates of diabetes have increased due to several factors, including unhealthy diets, modern sedentary lifestyles, an aging population, stress, and mental health. Home sequential compression devices can helps in the management of diabetes-related complications by improving circulation, reducing the risk of ulcers and infections, and enhancing overall limb health. These offer the convenience of regular use without the need for frequent visits to healthcare facilities. For instance, in July 2021, according to the International Diabetes Federation, a Belgium-based organization, 537 million individuals aged 20 to 79 were living with diabetes (1 in 10), and this figure is predicted to grow to over 643 million by 2030 and 783 million by 2045. Therefore, the rising incidence rates of diabetes are driving the growth of the home sequential compression device market.
Major companies operating in the home sequential compression devices market are focused on developing advanced product such as sequential compression device and pants-such as compression garments to gain competitive edge in the market. A sequential compression device (SCD) is a method used for deep vein thrombosis (DVT) prevention that improves blood flow in the legs. Compression garments is a lower body garments that are ideal for patients with lymphedema in the treatment of lower legs, back, abdomen, pelvic, and hip areas. For instance, in September 2023, AIROS Medical Inc., a US-based medical equipment manufacturer launched AIROS 6P and compression pants. This device works at 100-240 VAC and can be used anywhere in the world. It enables treatment for new, larger garments necessary for usage by some lymphedema patients. The lower truncal pants garments target additional areas of swelling in the legs and abdomen.
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Major Key Players of the Market:
Cardinal Health Inc., Medtronic plc, Essity Health & Medical, DJO LLC, Arjo Medical Devices, BTL Corporate, Tactile Medical, Amoena Medical, Performance Health Supply Inc, Sigvaris Group, Huntleigh Healthcare Limited, Breg Inc, NormaTec, Abigo Medical AB, Medcom Group, BIOCOMPRESSION SYSTEMS, Precision Medical Products, Devon Medical Inc., AIROS Medical Inc., Mego Afek ltd., Remark Medical Services
Home Sequential Compression Devices Market 2024 Key Insights:
• The home sequential compression devices market size is expected to see strong growth in the next few years. It will grow to $1.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Diabetes Epidemic Fuels Growth In The Home Sequential Compression Device Market
• Advancements In The Home Sequential Compression Devices And Garments To Enhance Patient Care
• North America was the largest region in the home sequential compression devices market in 2023
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