New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Compression Therapy Global Market Report 2023" - https://www.reportlinker.com/p06241909/?utm_source=GNW
, ArjoHuntleigh, Julius Zorn GmbH, Bio Compression Systems Inc., Medtronic PLC., Smith & Nephew PLC, COVIDien plc, Sanyleg S.r.l., Cardinal Health Inc., and Thuasne SA.
The global compression therapy market grew from $3.66 billion in 2022 to $3.9 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The compression therapy market is expected to grow to $5.06 billion in 2027 at a CAGR of 6.8%.
The compression therapy market includes revenues earned by entities by relieving tight muscles, decreasing pain, and promote relaxation.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Compression therapy refers to a treatment that promotes better blood flow to the foot, ankles, and lower legs. It works well to relieve discomfort and swelling brought on by circulatory disorders like chronic venous insufficiency and varicose veins.
North America was the largest region in the compression therapy market in 2022.Europe was the second-largest market in the compression therapy market.
The regions covered in the compression therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of products in the compression therapy market are compression pumps, compression stockings, compression bandages, and compression tapes.Compression pumps are either used for acute care (in the hospital, temporary) or chronic care (long term, often at home or an extended care facility).
These pumps are designed to treat either venous insufficiency, lymphedema, or the treatment of DVTs and differ in the cycle time of the squeeze.Major technology involved in compression therapy includes static compression therapy and dynamic compression therapy.
Compression therapy is applied in various areas, including varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and others.
The rise in the geriatric population is contributing to the growth of the compression therapy market.The share of the aged population in many countries across the globe is rapidly growing.
The old population is vulnerable to different chronic diseases.Compression therapy is a simple and efficient way to enhance vein support and increase blood flow efficiency in the lower limbs.
Compression therapy is most commonly used in the elderly population with chronic venous illness.For instance, in June 2020, according to a study by the United Nations, the total number of people age 80 years and above is expected to increase from 143 million in 2019 to over 426 million in 2050.
Therefore, the increasing geriatric population is expected to aid the growth of the compression therapy market.
Players in the compression therapy market are increasingly focusing on the launching of new compression therapy systems. For instance, in 2020, AIROS Medical, Inc., a US-based medical equipment player launched AIROS 6 Sequential Compression Therapy device and Arm Plus garments to treat patients with breast cancer. AIROS 6 device and Arm Plus garment will contract upper extremity post-mastectomy medication alternatives for patients with Lymphedema. The AIROS 6 utilizes pneumatic air compression to aerate accessory garments worn on the simulated area of the body. The aeration and contraction sequences, delivered at the pressure and time destined by a physician or lymphedema therapist, move the lymphatic fluid in the precise physiological direction.
In November 2020, Therabody, Inc., a US-based wellness technology company, acquired RP Sports for an undisclosed amount. Through this acquisition, Therabody will increase its RecoveryPump’s clinical pneumatic compression technology, make it available to the general public through its recovery and whole-body wellness solutions, and increase its medical-grade compression device product portfolio. RP Sports is a US-based healthcare company pioneering in pneumatic compression therapy used for the treatment of arterial and venous disease, lymphedema, and other circulatory problems like diabetes.
The countries covered in the compression therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The compression therapy market research report is one of a series of new reports that provides compression therapy market statistics, including compression therapy industry global market size, regional shares, competitors with a compression therapy market share, detailed compression therapy market segments, market trends and opportunities, and any further data you may need to thrive in the compression therapy industry. This compression therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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