In-Depth Insights into the Compression Bandages Market: Growth, Trends, and Opportunities for 2025-2034
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How has the compression bandages market grown in recent years?
Strong growth has been observed in the compression bandages market size in the past years. It’s predicted to expand from $1.63 billion in 2024 to $1.74 billion in 2025, having a compound annual growth rate (CAGR) of 6.4%. Factors like the high prevalence of chronic diseases, advances in material and design, regulatory backing, and medical strides have contributed to this growth in the historic period.
How is the compression bandages market size expected to evolve during the forecast period?
The market size of compression bandages is anticipated to witness significant expansion in the coming years. It is projected to reach a value of $2.2 billion by 2029, growing at a CAGR of 6.1%. The anticipated growth over the forecast period can be credited to factors like increasing healthcare spending, growth in e-commerce, personalization and customization, and emphasis on preventive healthcare. Key trends for the future include an increasing demand for trendy compression stockings, a move towards eco-friendly materials, the incorporation of digital health, and an increase in telemedicine and remote consultations.
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Which key drivers are propelling the compression bandages market’s growth?
An upswing in chronic wounds prevalence is anticipated to surge the expansion of the compression bandage market. Chronic wounds are skin injuries that don’t follow normal wound healing stages, enduring for a prolonged duration. Due to aging population and unhealthy lifestyles such as poor diet and lack of exercise, the prevalence of chronic wounds is escalating. Compression bandages aid in controlling chronic wounds by diminishing swelling, enhancing circulation, soothing pain, and forestalling complications. These bandages can support wound contraction and closure by offering external backing to the wound bed and adjacent tissues. For instance, the Memorial Hospital of Carbon County revealed in January 2024 that about 6.7 million individuals were presently enduring chronic wounds in the US, and these numbers are projected to surge by over 2% in the succeeding decade. Chronic wounds also represent a cost of over $50 billion to the healthcare system. Thus, the escalation in the prevalence of chronic wounds is fueling the expansion of the compression bandage market.
What are the market segments in the compression bandages industry?
The compression bandages market covered in this report is segmented –
1) By Product: Short Stretch Bandages, Long Stretch Bandages, Multilayer Compression Bandages
2) By Material: Polyester, Latex, Cotton, Other Materials
3) By Application: Wound Management, Deep Vein Thrombosis, Lymphedema, Other Applications
4) By End-User: Hospitals And Ambulatory Surgical Centers, Clinics, Nursing Care Centers And Skilled Nursing Facilities, Home Care, Other End-Users
Subsegments:
1) By Short Stretch Bandages: Low-Stretch Compression Bandages, Bandages for Lymphatic and Venous Disorders, Elastic Short Stretch Bandages, Compression Therapy for Edema Management, Short Stretch Bandages for Wound Care
2) By Long Stretch Bandages: High-Stretch Compression Bandages, Bandages for Orthopedic and Musculoskeletal Injuries, Elastic Long Stretch Bandages, Bandages for Varicose Veins and Swelling, Long Stretch Bandages for Wound Protection
3) By Multilayer Compression Bandages: Layered Compression Systems, Bandages for Chronic Venous Insufficiency, Multilayer Compression for Lymphedema Treatment, Customizable Multilayer Compression Bandages, Multilayer Bandages for Post-Surgical Recovery
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Which leading companies are shaping the growth of the compression bandages market?
Major companies operating in the compression bandages market are Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic Plc, Essity AB, Medline Industries Inc., B. Braun Melsungen AG, Smith & Nephew plc, Coloplast A/S, Paul Hartmann AG, ConvaTec Group Plc, Mölnlycke Health Care AB, Integra LifeSciences Corporation, Beiersdorf AG, Lohmann & Rauscher GmbH & Co. KG, DJO Global Inc., Thuasne Group, BSN medical GmbH, Talley Group Limited, DeRoyal Industries Inc., Arjo AB, Bauerfeind AG, L&R Group, medi GmbH & Co. KG, Oppo Medical Inc.
What key trends are currently impacting the compression bandages market’s development?
Leading entities in the compression bandage market are innovating and creating products like the elastic non-woven bandage. This is a new approach to providing superior care and medical compression treatment. Elastic non-woven bandages are flexible, breathable wraps applied for mild compression and support, typically used in wound management or for securing dressings, while offering flexibility and air flow. For example, in October 2022, KOB GmbH, a German medical equipment production firm, released the VisioCompress2 Lite, a fresh enhancement to their compression bandage collection. This system, comprised of two components, is for situations that require less compression pressure. It includes a padding bandage and a continuously elastic non-woven bandage, which now comes with indicators for simpler, safer usage. KOB further launched the Hospifix Bi-elastic 911 tubular bandage, a versatile and seamless product that enhances the KOB tubular assortment.
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Which geographic areas are influencing the growth of the compression bandages market?
North America was the largest region in the compression bandages market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the compression bandages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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