Compression Therapy Market Trends, Strong Application Scope, Key Players, Growth Overview and Forecast by 2030

The USD 3 billion compression therapy market is likely to grow witness 6% CAGR through 2030, despite the COVID-19 blip, according to market research firm Future Market Insights. According to a latest study that tracks compression therapy adoption and market analysis in 20+ countries, the long-term outlook remains optimistic.

Highlighting the key influencing factors, the study opines that growing diabetic population across the globe has increased the demand for compression stockings and diabetic socks. Moreover, innovations like NPWT (Negative Pressure Wound Therapy) have turned out to be the modus operandi for managing acute and chronic wounds. Also, advancements in pneumatic compression therapy have proven to be effective and safe in treating lymphedema (caused by HNC – head and neck cancer) as stated by “Supportive Care in Cancer”.

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Key Takeaways from Compression Therapy Market Study

  • The static compression therapy held the largest market share in 2019 and the trend is expected to continue in the forecast period (2020-2030)
  • Chronic ulcers are expected to hold more than 69% of market share in terms of revenue in 2020
  • Among all distribution channel, institutional sales is the leading segment followed by retail sales. Retail sales segment is anticipated to grow at CAGR of 6% over the forecast period
  • North America and Europe are collectively expected to hold more than 67% of revenue share in 2020 while East Asia is expected to show greater growth potential in the forecast period.

Expansion with Research: The Latest Trend

The compression therapy market players are onto the expansion spree to stand out.

For instance –

In May 2020, British Medical Journal published a study that stated that anti-embolism stockings are all the more effective with respect to DVT (deep vein thrombosis). This finding is bound to influence players to go for production of anti-embolism stockings in the forecast period

Avanos Medical Inc., in the year 2018, announced acquiring CoolSystems, Inc. The products post acquisition were marketed as “Game Ready”

Huntleigh Healthcare Ltd.’s IPC (Intermittent Pneumatic Compression) products under the “Hydroven” brand are a noteworthy addition to vascular assessment systems

Key Participant Insights

The global market is set to broaden its scope in the forecast period, stimulated by high prevalence rate of diabetes, rising geriatric population globally and adoption of advanced compression therapy systems which can be used as bi-layer and multi-layer for conventional treatment option. In addition to this, strict guidelines limits the design space for potential conceptual ideas and availability of alternate therapies has augmented the sales of compression products.

The key market players covered by FMI include Paul Hartmann AG, Sigvaris AG, Cardinal Health Inc. and 3M Health Care Ltd. consolidating their positions through mergers, acquisitions and new product launches.

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Why Future Market Insights?

• Comprehensive analysis on evolving purchase pattern across different geographies
• Detailed insights of market segments and sub-segments for historical as well as forecast period
• A competitive analysis of prominent players and emerging players in the keyword market
• Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

About FMI:

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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