Compression Therapy Market To Generate $5.4 Billion by 2031, Expeditious Annual Growth Predicted
Compression therapy market is expected to be driven primarily by Compression Therapy Market Trends such as a rise in prevalence of target diseases like deep vein thrombosis, varicose veins and lymphedema, increase in number of populations approaching advanced age, rise in obesity incidences among adults and increase in the geriatric population.
Compression therapy market was valued at $3.2 billion in 2021, and is estimated to reach $5.4 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Some of the key players involved in the Market are:
Cardinal Health Inc., 3M, Tactile Medical, Gottfried Medical, Inc., Arjo, Sigvaris Group, Convatec Group PLC, Spectrum Healthcare, Juzo, Biocompression Systems
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The compression therapy market can be segmented based on various factors. Here are some common segmentation approaches used in the industry:
- Product Type: Compression therapy products can be categorized into different types, such as compression stockings, compression bandages, compression pumps, compression sleeves, and compression garments. Each type of product is designed for specific applications and target areas of the body.
- Application: Compression therapy can be applied to different parts of the body for various medical conditions. Segments based on application may include compression therapy for the lower extremities (legs and feet), upper extremities (arms and hands), and trunk. It can also be segmented by specific medical conditions such as lymphedema, deep vein thrombosis (DVT), chronic venous insufficiency (CVI), and wound healing.
- Compression Level: Compression therapy products are available in different compression levels, ranging from mild to high compression. Segmentation based on compression level can include mild compression (15-20 mmHg), moderate compression (20-30 mmHg), and high compression (30-40 mmHg or higher).
- End User: Compression therapy products are used by various end users, including hospitals, clinics, ambulatory surgical centers, home healthcare settings, and sports and fitness centers. Segmenting the market based on end users helps identify the specific needs and preferences of different customer groups.
- Geography: The compression therapy market can be segmented based on geographic regions, such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region may have its own market dynamics, regulatory environment, and adoption rates for compression therapy products.
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