Newark, New Castle, USA, July 02, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Growth Plus Reports, the global pneumatic compression therapy market was valued at US$ 4.2 billion in 2022 and is expected to exceed US$ 6.8 billion by 2031, at a revenue CAGR of 5.5% during 2023-2031. The research examines the leading successful strategies, market trends, drivers and opportunities, competitive scenarios, market size, data and forecasts, and key investment areas.
Key Takeaways:
- The prevailing blood circulation-related diseases are increasing market revenue growth.
- Lymphatic disorders and venous leg ulcers are driving the market revenue share.
- Improved and novel product launches are increasing the demand among the population.
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Pneumatic Compression Therapy Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 4.2 billion |
| Revenue forecast in 2031 | US$ 6.8 billion |
| Growth Rate | CAGR of 5.5% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Product, Technique Application, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Market Drivers:
The prevalence of leg ulcers, lymphedema, deep vein thrombosis, varicose veins, and blood clots drives market revenue growth. Due to a rise in accidents and the world's obese population, there is an increasing need for orthopedic surgery, contributing to revenue growth. However, the global pneumatic compression treatment market's revenue expansion is constrained by a lack of public awareness and the availability of alternative management strategies.
Market Segmentation:
Growth plus reports have analyzed the global pneumatic compression therapy market from perspectives such as product, technique, application, and region.
Product Segmentation:
Based on product, the global pneumatic compression therapy market is segmented into pneumatic compression pumps and pneumatic compression garments.
The pneumatic compression pumps segment is expected to account for a significant revenue share during the forecast period. The rise in revenue share is attributed to the prevention of blood clots and an increase in blood flow used to treat lymphedema, chronic venous insufficiency, and deep vein thrombosis.
Technique Segmentation:
Based on technique, the global pneumatic compression therapy market is segmented into dynamic compression therapy and static compression therapy.
The static compression therapy segment accounts for the largest revenue share in the global market. This segment's significant market share can be attributed to the availability of these products for treating edema, sports-related injuries, and pain for pressure relief. Additionally, the growing diabetic and geriatric populations, lymphedema, deep vein thrombosis, and chronic venous insufficiency also contribute to the segment's revenue growth.
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Application Segmentation:
Based on application, the global pneumatic compression therapy market is segmented into deep vein thrombosis, varicose veins, lymphedema ulcers, and others.
Varicose veins segment accounts for the largest market revenue share. This large revenue share is attributed to the large patient pool getting treated with compression therapies.
Regional Growth Dynamics:
Based on region, the global pneumatic compression therapy market is segmented into North America, Europe, Asia Pacific, and the Middle East & Africa.
North America accounts for the largest market revenue share, followed by Asia Pacific. This significant revenue share is attributed to sports-related injuries, arthritis patients, and venous ulcers.
Competitive Landscape:
The prominent players operating in the global pneumatic compression therapy market are:
- Medtronic Plc
- Bio Compression Systems, Inc.
- Cardinal Health
- Medi GmbH & Co.
- Smith & Nephew Plc
- Sigvaris Group Stryker Corporation
- Spectrum Healthcare
- 3M Company
- Julius Zorn GmbH
- ArjoHuntleigh
- Medline Industries Inc.
The global pneumatic compression therapy market is relatively competitive due to new product releases, mergers, and acquisitions. Furthermore, the market recognized partnerships, acquisitions, and various other types of collaboration as robust growth strategies, increasing the likelihood of revenue growth during the forecast period.
Recent Developments:
- In June 2022, Hyperice, a leading worldwide high-performance wellness brand, launched the newest version of the legendary Normatec line. Dynamic air compression is used in Normatec 3 by Hyperice to enable speedier recovery, better training, and peak performance while enhancing everyday health.
- In February 2022, The second generation of Therabody's recovery air pneumatic compression boots was released with cutting-edge technology.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL PNEUMATIC COMPRESSION THERAPY MARKET - ANALYSIS & FORECAST, BY PRODUCT
- Pneumatic Compression Pumps
- Pneumatic Compression Garments
- GLOBAL PNEUMATIC COMPRESSION THERAPY MARKET - ANALYSIS & FORECAST, BY TECHNIQUE
- Dynamic Compression Therapy
- Static Compression Therapy
- GLOBAL PNEUMATIC COMPRESSION THERAPY MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Deep Vein Thrombosis
- Varicose Veins
- Lymphedema Ulcers
- Others
PNEUMATIC COMPRESSION THERAPY MARKET
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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