Compression Bandages Market Set to Reach $2.2 Billion by 2029 with 6.1% Yearly Growth

What industry-specific factors are fueling the growth of the compression bandages market?
The surge in chronic wounds is anticipated to spur the expansion of the compression bandage market. Chronic injuries, which are damages to the skin that don't follow the usual wound healing pattern and last for a protracted period, are becoming more common due to the world's aging population and unhealthy habits such as poor eating habits and inactivity. Compression bandages are vital in handling chronic wounds as they minimize swelling, enhance blood flow, ease pain, and prevent further issues. These bandages contribute to wound shrinkage and closure by offering external support to the wound's base and adjacent tissues. For example, data from the Memorial Hospital of Carbon County, a critical access hospital in the US, showed that as of January 2024, about 6.7 million people are currently suffering from chronic wounds. This statistic is projected to rise by more than 2% in the following ten years. Furthermore, chronic wounds have a financial impact of over $50 billion on the healthcare system. Thus, the rising occurrence of chronic wounds is stimulating the development of the compression bandage market.

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What Is the projected market size and growth rate for the compression bandages market?
The market size for compression bandages has experienced significant expansion in the past few years. It is projected to escalate from $1.63 billion in 2024 to $1.74 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. The historical growth of this market can be credited to factors such as increased instances of chronic diseases, improvements in materials and design, regulatory backing, and medical advancements.

In the coming years, the market for compression bandages is predicted to witness robust growth. It is projected to escalate to $2.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.1%. The growth during the forecast period is attributable to increasing healthcare expenditures, e-commerce expansion, customization, personalization, and emphasis on preventive healthcare. Major trends anticipated during this period encompass an increased interest in stylish compression stockings, a move towards eco-friendly materials, incorporation of digital health, as well as telemedicine and remote consultations.

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How are the latest trends influencing the growth of the compression bandages market?
Leading organizations in the compression bandage market are innovating with products such as elastic non-woven bandages, aimed at enhancing care and medical compression therapy. Elastic non-woven bandages, which are flexible and breathable wraps, are primarily used for moderate compression and support, frequently accompanying wound care or securing dressings while maintaining flexibility and air flow. In October 2022, Germany's KOB GmbH, a manufacturer of medical equipment, introduced a new product, the VisioCompress2 Lite, to their range of compression bandages. This dual-component system is made for scenarios where lesser compression pressure is required and includes a padding bandage and a forever elastic non-woven bandage, now equipped with indicators for a simpler, more secure application process. KOB also launched the Hospifix Bi-elastic 911 tubular bandage, a flexible, seamless option that expands the KOB tubular portfolio.

What major market segments define the scope and growth of the compression bandages market?
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

Subsegments:
1) By Short Stretch Bandages: Low-Stretch Compression Bandages, Bandages for Lymphatic and Venous Disorders, Elastic Short Stretch Bandages, Compression Therapy for Edema Management, Short Stretch Bandages for Wound Care
2) By Long Stretch Bandages: High-Stretch Compression Bandages, Bandages for Orthopedic and Musculoskeletal Injuries, Elastic Long Stretch Bandages, Bandages for Varicose Veins and Swelling, Long Stretch Bandages for Wound Protection
3) By Multilayer Compression Bandages: Layered Compression Systems, Bandages for Chronic Venous Insufficiency, Multilayer Compression for Lymphedema Treatment, Customizable Multilayer Compression Bandages, Multilayer Bandages for Post-Surgical Recovery

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Which region dominates the compression bandages market?
North America was the largest region in the compression bandages market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the compression bandages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Which key market leaders are driving the compression bandages industry growth?
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.

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What Is Covered In The Compression Bandages Global Market Report?

• Market Size Forecast: Examine the compression bandages market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the compression bandages market for a structured understanding.
• Key Players Overview: Analyze major players in the compression bandages market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the compression bandages market.
• Segment Contributions: Evaluate how different segments drive overall growth in the compression bandages market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the compression bandages market.
• Industry Challenges: Identify potential risks and obstacles affecting the compression bandages market.
• Competitive Landscape: Review strategic developments in the compression bandages market, including expansions, agreements, and new product launches.

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