Pune, 6, Dec 2022: According to Maximize Market Research, the Compression Therapy Market worth USD 1,174.58 billion by 2029, growing at an 18.3% CAGR. The market is growing thanks to the growing prevalence of conditions such as Chronic Venous Disease, Cirrhosis, Angioedema, and Lymphedema, as well as the use of compression gloves and stockings.
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Compression Therapy Market Scope and Research Methodology
The research report makes extensive use of both primary and secondary data sources. During the research process, government policy, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries are all investigated, as are market risks, opportunities, market barriers, and challenges. In order to provide final quantitative and qualitative data, all conceivable factors influencing the markets included in this research study were considered, thoroughly examined, validated via primary research, and evaluated.
The impact of inflation, economic downturns, changes in regulations and policies, and other variables is considered for top-level markets and sub-segments. In addition to this information, the report includes in-depth inputs and analysis. To calculate the market size and examine global market trends, bottom-up approaches were used. In order to draw accurate conclusions, data were gathered from a large sample using both primary and secondary research techniques. The primary methods employed were surveys, questionnaire distribution, and telephone interviews with business owners, marketing specialists, market leaders, and industry experts. Secondary data was painstakingly compiled from a carefully selected set of sources to ensure that the conclusions were accurate.
There are paid databases, industry journals, white papers, annual reports, product manufacturer and supplier releases, official databases of numerous organizations, and government websites in addition to white papers and annual reports. PESTLE analysis was used to understand various market factors, whereas SWOT analysis was used to understand the strengths and weaknesses of major corporations. As a result, the report delves into the Compression Therapy Market in depth.
Compression Therapy Market Overview
Compression Therapy is a method of increasing blood flow in the lower legs. Wraps and elastic stockings are frequently used. This elastic provides compression on the legs, ankles, and feet, preventing blood from pooling and fluid from accumulating in these areas. Compression stockings and wraps are commonly used to increase the awareness and effectiveness of the calf-muscle pumps in returning blood to the heart. Several companies have a large number of manufacturing units for medical compression therapy products and intend to expand into these existing markets as well as develop new products in non-traditional areas.
Compression Therapy Market Dynamics
Compression therapy is essential for wound and ulcer care. Bandages, stockings, and intermittent pneumatic compression (IPC) devices can be used to deliver compression therapy. With the rising prevalence of various disorders such as chronic venous disease, cirrhosis, angioedema, and lymphedema; wearing compression gloves and stockings aids in preventing fluid accumulation; this has fueled the market for compression therapy. Furthermore, a device that monitors and adjusts the compression is highly desirable to ensure precise pressure control and improve compliance; Pneumatic Compression Devices (PCD) provide this option. The PCDs, which come in three varieties: fixed PCDs with no mobility, semi-portable PCDs with extended mobility, and portable PCDs that allow the user to move freely while the device is operating are emerging devices that are helping to drive the Compression Therapy market.
Compression Therapy Market Regional Insights
In the Compression Therapy market, Asia Pacific is expected to grow profitably over the forecast period. Significant R&D expenditures by key competitors fuel the market, as do persistent efforts to commercialise goods at significantly lower cost. Furthermore, rising disposable income, which increases the likelihood that these items will be used, and ongoing healthcare infrastructure improvements are expected to provide the market with lucrative growth opportunities. During the forecast period, Japan held a sizable share of the Asia Pacific compression therapy market. This is thought to be due to technological advancements, increased global player collaboration, and the expansion of their key product distribution networks, including compression pumps.
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Compression Therapy Market Segmentation
By Product Type
- Post-Surgical Compression
- Thrombo-Embolus deterrent
- Graduated Compression socks
- Other Forms of Surgical Compressions
- Athletic Compression
- Knee-length Compression socks
- Compression Ankle Socks
- Compression Sleeves
- Compression Short&Tights
- Compression Shirts&Body Suits
- Treatment of Rheumatoid Arthritis
- Treatment of Post Thrombic Syndrome
- Treatment of Chronic Ulcers
- Treatment of lymphedema
- Static Compression
- Dynamic Compression
Compression Therapy Market Key Competitors:
- 3M Health Care
- Bio Compression Systems, Inc
- BSN Medical
- Covidien plc
- medi GmbH & Co KG
- PAUL HARTMANN AG
- SIGVARIS MANAGEMENT AG.
- Medtronic PLC
- Cardinal Health, Inc.
- Smith & Nephew PLC.
- Sanyleg S.R.L.
- Tactile Medical
- Convatec Inc.
- Julius Zorn GmbH
- DJO Global Inc
Key questions answered in the Compression Therapy Market are:
- What is Compression Therapy?
- Who are the European Compression Therapy market leaders?
- Who are the market leaders in Compression Therapy in the United States and Canada?
- Who are the market leaders in Compression Therapy in India, China, Japan, and South Korea?
- Who controlled most of the Compression Therapy Market?
- What factors are driving the Asia-Pacific Compression Therapy Market’s growth?
- What will be the growth rate of the Compression Therapy Market during the forecast period?
- How does competition differ between developed and emerging economies in the Compression Therapy industry?
- Who are the top ten Compression Therapy market participants?
- What factors are influencing the growth of the Compression Therapy Market?
- Market Trends, Statistics, Opportunities & Forecast by Revenue | 2022−2029
- Market Dynamics – Industry Growth, Trend, Share, and Forecast to 2029
- Market Segmentation – A detailed analysis by Product Type, Application, Technology, and Region
- Competitive Landscape – Top Key Players and Other Prominent Vendors
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