With Market Size Valued at $668.5 Million by 2026, it`s a Healthy Outlook for the Global Pneumatic Compression Therapy Market
SAN FRANCISCO, March 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Pneumatic Compression Therapy - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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- Global competitiveness and key competitor percentage market shares
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Edition: 8; Released: March 2022
Executive Pool: 7462
Companies: 52 - Players covered include Arjo AB; Bio Compression Systems, Inc.; Bosl Medizintechnik GmbH; Devon Medical Products; DJO Global, Inc.; Eureduc; Medline Industries, Inc.; Medtronic PLC; Mego Afek Ltd.; Tactile Medical; Talley Group Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Pneumatic Compression Sleeve, Segmented Pneumatic Compression Pumps, Non-Segmented Pneumatic Compression Pumps, Other Product Types); End-Use (Hospital, Clinics, Home Care, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Pneumatic Compression Therapy Market to Reach US$668.5 Million by the Year 2026
Compression therapy includes wearing of stockings or other elastic garments for supporting or containing veins, for ultimately increasing circulation of blood in the legs. The therapy is used for treating discomfort in the leg and swelling. It improves circulation and restores normal function in the leg. Pneumatic compression therapy is especially used for managing DVT or Deep Vein Thrombosis. Target population for PCT also includes those suffering from vascular and lifestyle related diseases like diabetes, obesity and varicose veins among others. The growing demand for better treatment options for treating DVT and other diseases on similar lines has been aiding market growth for long. Increasing prevalence of leg ulcers, lymphedema, blood clots and varicose veins also promotes market growth. Growing number of accidents and sports related injuries also contributes to market growth. Rise in the number of orthopedic surgeries also promotes market growth. Another growth driving factor is the rising geriatric population worldwide. Patients in this group are at high risk of orthopedic conditions, increasing orthopedic procedures. Over the coming years, hip and knee replacement surgeries are anticipated to witness significant increase, exemplifying demand for compression therapy.
Amid the COVID-19 crisis, the global market for Pneumatic Compression Therapy estimated at US$564.3 Million in the year 2022, is projected to reach a revised size of US$668.5 Million by 2026, growing at a CAGR of 4.5% over the analysis period. Pneumatic Compression Sleeves, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach US$367.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Segmented Pneumatic Compression Pumps segment is readjusted to a revised 4.2% CAGR for the next 7-year period. This segment currently accounts for a 29.6% share of the global Pneumatic Compression Therapy market.
The U.S. Market is Estimated at $187.6 Million in 2022, While China is Forecast to Reach $96.6 Million by 2026
The Pneumatic Compression Therapy market in the U.S. is estimated at US$187.6 Million in the year 2022. The country currently accounts for a 33.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$96.6 Million in the year 2026 trailing a CAGR of 7.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR while Rest of European market (as defined in the study) will reach US$102.3 Million by the end of the analysis period. North America (including USA and China) constitutes the largest market for compression therapy products attributed mainly to growing number of spinal and orthopedic surgeries and increasing number of patients with varicose veins, lymphedema and DVT and sports injuries. Other growth promoting factors include higher chronic venous disorders incidence and increasing proportion of geriatric and obese population. Emerging markets like China, India, Mexico and Brazil are currently anticipated to provide strong growth opportunities for suppliers of compression therapy products. These markets have large target populations. The factors of increasing healthcare expenditure and rising levels of disposable incomes also promote market growth in these regions.
Non-Segmented Pneumatic Compression Pumps Segment to Reach $91.2 Million by 2026
In the global Non-Segmented Pneumatic Compression Pumps segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$57.8 Million will reach a projected size of US$73.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.1 Million by the year 2026. More
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