Press release
Compression Therapy Market: Strong Growth Phase to Reach $6.8 Billion by 2029 with CAGR of 9.8%
Compression Therapy Market
Rapid growth, transformation by wearable and smart compression devices, driven by increasing healthcare spending and growing geriatric population, mark the future of the global compression therapy market.
What Is The Projected Market Size Of The Global Compression Therapy Market And Its Growth Rate?
• The compression therapy market size is expected to grow from $4.31 billion in 2024 to $4.68 billion in 2025 at a CAGR of 8.7%.
• The strong growth in recent years is due to the aging population, increasing prevalence of chronic venous diseases, growing awareness about the benefits of compression therapy, and rising incidence of diabetes and obesity-related conditions.
• The market size is predicted to reach $6.8 billion in 2029 at a CAGR of 9.8%, supported by increasing healthcare spending, expansion of applications in sports and fitness, and higher adoption of compression therapy in hospitals.
What Is Driving The Growth In The Compression Therapy Market?
One of the prominent drivers of the compression therapy market is the rapidly growing geriatric population which is susceptible to various chronic diseases including chronic venous illness. The World Health Organization predicts that by 2030, one in six people globally will be aged 60 or above. By 2050, this number will increase to 2.1 billion people. This demographic shift, coupled with the efficiency of compression therapy in managing chronic venous illness, is expected to propel the market growth in the coming years.
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Who Are the Key Players Driving Compression Therapy Market Growth?
• 3M Company
• ArjoHuntleigh AB
• Bio Compression Systems Inc.
• BSN Medical GmbH
• Cardinal Health Inc.
• ConvaTec Inc.
• DJ Orthopedics Global Inc.
• Julius Zorn GmbH
• medi GmbH & Co KG
• Medtronic plc
• Paul Hartmann AG
• Sanyleg Srl
• Sigvaris Management AG
• Smith & Nephew plc
• Tactile Systems Technology Inc.
• Thuasne SA
• Bauerfeind AG
• Essity AB
• Kinetec SAS
• Lympha Press International Inc.
• Medi USA
• Optima Molliter Srl
What Are The Key Trends In The Compression Therapy Market?
• Development of wearable and smart compression devices
• Customization of compression therapy solutions
• Integration of compression therapy in wound care management
• Emphasis on patient comfort and compliance in compression therapy
• Collaboration between manufacturers and healthcare providers for improved patient outcomes
What Are The Segments Of The Global Compression Therapy Market?
• By Product: Compression Pumps, Compression Stockings, Compression Bandages, Compression Tapes
• By Technique: Static Compression Therapy, Dynamic Compression Therapy
• By Application: Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment, Other Applications
Which Region Leads The Compression Therapy Market?
As of 2024, North America held the leading position in the compression therapy market, followed by Europe. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Compression Therapy Market Global Market Report?
- Market Size Analysis: Analyze the Compression Therapy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Compression Therapy Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Compression Therapy Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Compression Therapy Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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