Compression Therapy Market Will Reach USD 6.15 Billion By 2030, Says P&S Intelligence
NEW YORK, April 4, 2023 /PRNewswire/ -- The global compression therapy market is forecast to be worth USD 6.15 billion by 2030, growing at a CAGR of 5.80%, according to P&S Intelligence.
This growth can be ascribed to a surge in the count of patients of diabetes, varicose veins, lymphedema, and DVTs. As per the Chicago Vein Institute, 50% of the U.S. populace aged more than 50 years is suffering from varicose veins.
Compression Garments Contribute Highest Revenue
In 2022, compression garments generated the highest revenue, and their sales are projected to surge with a CAGR of 6.6% in the coming years. This is mainly because of the extensive variety of applications of such items for patients suffering from deep vein thrombosis, varicose veins, hypotension, and lymphedema.
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Static Compression Therapy Is Preferred Technique
In 2022, static compression therapy led the market with an approximately 66% revenue share. This can be ascribed to its high suitability and simple utilization in the therapy of chronic venous insufficiency, edema, and chronic pain.
Furthermore, gradually, individuals have become knowledgeable about this non-invasive method. Additionally, in developing countries, substantial capital is being invested in order to advance the outcomes for individuals suffering from chronic illnesses.
Compression Therapy Highly Demanded by Lymphedema Patients
Compression therapy is extensively utilized for lymphedema, also known as lymphatic obstruction, which causes inflammation in the limbs or another body part. Compression treatment lessens the swelling resulting from the buildup of the lymphatic liquid, by putting even but stable pressure on the affected area.
As per Cancer Research UK, there are several methods to apply pressure, such as garments and bandaging. The compression supports the trapped lymphatic liquid in flowing via the lymph nodes. Such items also offer an added force for the muscles to function against, which aids the liquid in draining out. Compression treatment, therefore, averts lymphoedema from becoming more complex.
Browse detailed report on Compression Therapy Market Size, Growth, Development and Demand Forecast Report, 2030
North America Has Highest Demand for Compression Therapy
In 2022, North America dominated the market with a share of approximately 44%. This can be credited to the surge in the knowledge regarding the conditions that need compression therapy, growth in the count of orthopedic operations, and the existence of many market players in the region.
Growing Sports Participation Driving Compression Therapy Demand
Compression therapy is widely used by athletes for muscle massage when not actively involved in sports. Other times, this treatment can prevent the bones from high strain and eventual dislocation resulting from strenuous physical activity.
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About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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SOURCE P&S Intelligence
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