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 the latest findings from Meticulous Research®, the compression therapy market is expected to reach $5.88 billion by 2030, with a steady CAGR of 3.8% from 2023 to 2030. This growth is primarily driven by an aging global population, a rise in chronic health conditions, and an increase in sports-related injuries. Additionally, the demand for compression therapy products is being propelled by the growing number of orthopedic surgeries and the prevalence of varicose veins and Deep Vein Thrombosis (DVT). Their recognition as effective preventive measures with minimal side effects further supports market expansion, although challenges such as patient adherence and cost concerns remain.
Emerging economies present significant opportunities for industry stakeholders, despite challenges like the rise of alternative therapies and reimbursement difficulties. A key trend is the increasing focus on portable technologies and strategic partnerships among manufacturers to enhance product offerings.
The market is segmented by various product categories, techniques, conditions, distribution channels, and healthcare facilities. Garments are the most dominant product category due to their extensive application in treating edema and venous disorders. Static compression therapy is the most popular technique, valued for its comfort, cost-effectiveness, and ease of use. Varicose veins are the most commonly treated condition, reflecting their rising incidence among older and overweight individuals.
Geographically, North America is projected to lead the market, bolstered by its expanding elderly population, strong healthcare infrastructure, and the presence of key industry players. With the U.S. elderly demographic expected to surpass 80 million by 2040, the demand for compression therapy is anticipated to increase significantly.
In conclusion, while the compression therapy market faces several challenges, it also offers abundant opportunities. As industry players adapt to shifting market dynamics, forming strategic partnerships, embracing technological innovations, and addressing cost barriers will be crucial for achieving a strong foothold in this growing sector.
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