What’s The Growth Forecast For Pneumatic Compression Therapy Market Through 2023-2032?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global pneumatic compression therapy market is set to witness substantial growth, projecting an increase from $2.96 billion in 2022 to $3.17 billion in 2023, with a robust compound annual growth rate (CAGR) of 7.2%. Looking ahead, the market is anticipated to expand further, reaching $4.01 billion in 2027, maintaining a significant CAGR of 6%. Let’s delve into the factors driving this growth, emerging trends, and the strategic landscape of the pneumatic compression therapy market.
Growth Catalyst: Surge in Orthopedic Patients
The pneumatic compression therapy market is poised for expansion, driven by the escalating number of orthopedic patients. Orthopedics, a medical specialty focused on skeletal abnormalities, including bones, joints, muscles, and more, has witnessed a rise in patients. Pneumatic compression therapy plays a vital role in preventing blood clots in deep veins for orthopedic patients. With osteoporosis causing 1.5 million fractures annually in the United States, the market is responding to the increasing demand for solutions to address skeletal issues, propelling the growth of pneumatic compression therapy.
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Market Players: Leading the Charge
Major players in the pneumatic compression therapy market are at the forefront of innovation and product development. Companies like Medtronic, Tactile Systems Technology Inc, and ArjoHuntleigh (Getinge AB) are actively contributing to the market’s growth. Product innovation stands out as a key trend, with companies focusing on creating solutions that enhance efficacy and simplify at-home treatments. For instance, AIROS Medical, Inc. launched the AIROS 6 Sequential Compression Therapy device and Arm Plus garments, offering a practical solution for breast cancer and lymphedema patients.
Market Segmentation: Tailoring Solutions for Diverse Needs
The pneumatic compression therapy market is segmented to address diverse requirements:
- Product Type: Pneumatic Compression Sleeves, Segmented Pneumatic Compression Pumps, Programmable Pneumatic Compression Pumps, Non-Programmable Pneumatic Compression Pumps, Non-Segmented Pneumatic Compression Pumps
- Technique: Static Compression Therapy, Dynamic Compression Therapy
- Application: Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Other Applications
- End User: Hospitals And Clinics, Nursing Care Centers, Home Care Settings, Other End Users
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Regional Dynamics: North America Takes the Lead
As of 2022, North America has asserted its dominance in the pneumatic compression therapy market. The global market report comprehensively covers key regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, providing insights into regional nuances and dynamics.
Innovation in Focus: Charting the Future of Pneumatic Compression Therapy
Product innovation emerges as a pivotal trend, with companies dedicating efforts to develop cutting-edge solutions. For example, AIROS Medical’s AIROS 6 Sequential Compression Therapy device showcases the industry’s commitment to creating efficient, user-friendly, and effective at-home treatment options for patients.
The Pneumatic Compression Therapy Global Market Report 2023 provides a comprehensive overview on the pneumatic compression therapy market size, market trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the pneumatic compression therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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