Meticulous Research—a leading global market research company, published a research report titled ‘Compression Therapy Market Size, Share, Forecast, & Trends Analysis by Product (Bandages, Stockings, Tapes, Pumps) Technique (Static, Dynamic) Condition (Varicose Vein, Lymphedema, Leg Ulcer) Distribution (E-commerce, Hospital) – Global Forecast to 2030.’
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According to a recent report from Meticulous Research®, the global compression therapy market is projected to achieve $5.88 billion by 2030, exhibiting a steady CAGR of 3.8% from 2023 to 2030. This growth is fueled by the aging population worldwide, a rise in chronic conditions, and an increase in sports injuries. The demand for compression therapy products is further amplified by a higher number of orthopedic surgeries and an increase in cases of varicose veins and Deep Vein Thrombosis (DVT). Their growing acceptance as preventive measures with minimal side effects supports market growth. However, challenges like patient compliance and cost-related issues persist, impacting progress.
Emerging markets offer promising prospects for industry players, though they also face hurdles such as the adoption of alternative technologies and reimbursement challenges. A significant trend is the shift toward portable technologies and growing collaborations among manufacturers to improve product offerings.
The market is segmented into various product types, techniques, conditions, distribution channels, and healthcare facilities. Garments are the leading product category due to their widespread use in treating edema and venous disorders. Static compression therapy remains the most utilized technique, valued for its comfort, cost-effectiveness, and user-friendliness. Varicose veins represent the most common condition treated, reflecting their rising incidence among older and overweight individuals.
North America leads the market geographically, driven by a growing elderly population, a robust healthcare system, and the presence of established market participants. With the U.S. elderly demographic projected to surpass 80 million by 2040, the demand for compression therapy is expected to see substantial growth.
In summary, the compression therapy market holds considerable opportunities despite its challenges. As industry stakeholders navigate evolving market dynamics, strategic partnerships, technological advancements, and efforts to address cost barriers will be critical for establishing a strong market presence.
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