The compression therapy market size in Asia-Pacific is expected to be worth USD 1.60 billion by 2028 from USD 1.12 billion in 2023, growing at a CAGR of 7.37% from 2023 to 2028.
The growing incidence of sports injuries and accidents across the APAC region is majorly driving the compression therapy market in APAC. Compression is essential in managing sports injuries to reduce swellings and increase blood circulation. In recent years, people are showing interest in playing games as a part of fitness. Due to heavy traffic in India and not following the traffic rules, road accident injury rates have increased, which need compression therapy to become routine in less time. People suffering from diabetes mellitus and osteoarthritis also use compression therapy for ulcers.
The growing geriatric population among the APAC countries is fuelling the compression therapy market growth in APAC. As per the recent report in the year 2022, approximately 7%% of the population is aged above 65 in India. With increasing age, older people are prone to many disorders due to insufficient nutrients. Blood circulation problem is a significant issue in the older population. As a result, walking becomes problematic for those suffering from knee pain, varicose veins and others. Varicose veins disorder is pervasive in India; nearly 30 percent of the population is suffering from this disorder. These diseases result in swollen veins and pain. For all these issues, the healthcare provider has suggested patients undergo compression therapy, resulting in the growth of the compression therapy market in the Asia-Pacific region.
The growing number of product launches and rapid adoption of technological advancements in manufacturing compression therapy products and devices are boosting regional market growth. Key players in the region focus on developing cost-effective compression therapy devices that reduce the burden on people buying the products. Additionally, increase the use of techniques such as a sensor and the digital meter to indicate the time and the pressure to be applied on the body to relax pain and swelling.
On the other side, the high cost of compression pumps and devices is majorly hampering the growth of the APAC compression therapy market. In addition, a lack of awareness regarding compression therapy and the availability of alternative therapies are hindering the market growth in the Asia-Pacific region. Furthermore, side effects associated with using compression therapy such as irritation under cuffs, itching, and pain is another notable obstacle to the APAC compression therapy market growth.
The APAC compression therapy market research report has been segmented and sub-segmented into the following categories.
By Product:
Based on product, the garments segment held a major share of the APAC compression therapy market in 2021.
By Technique:
Based on the technique, the static segment is expected to capture the leading share of the APAC market during the forecast period.
By Application:
The lymphedema treatment segment is estimated to occupy a major share of the APAC market during the forecast period.
By Distribution Channel:
The eCommerce platforms segment is predicted to lead the APAC market during the forecast period.
By Country:
Geographically, APAC accounted for a substantial share of the worldwide market in 2021 and is anticipated to grow at a notable CAGR during the forecast period owing to the increasing advanced infrastructure in the hospitals and increasing healthcare expenditure by the population. In Asia, compression therapy is also used in mammography treatment for specific functioning, such as reduction in overlapping of breast tissue, reduction of motion blurring, and reduction in radiation dose to the breast. In addition, the availability of devices through online sites also helps the market's growth.
China held the major share of the APAC market in 2021 and is predicted to grow healthy during the forecast period owing to the increasing number of manufacturers. Increasing awareness programs about compression therapy for different issues among the population favors the market growth in China.
During the forecast period, the Indian market is estimated to register a healthy growth rate.
The Japanese market is predicted to hold a considerable share of the APAC market during the forecast period. The growth of the Japanese market is primarily driven by the increasing research activities regarding compression therapy in Japan. In addition, increasing the adoption of compression therapy in the hospital and special care centers for the population also helps with the market's demand. Furthermore, the government in this country also increases investment in developing different types of compression stockings with personalized sizes, which helps all categories of people reduce leg ulcer disorders.
KEY MARKET PLAYERS:
Companies such as Medi GmbH & Co., Medtronic Plc, Julius Zorn GmbH, SIGVARIS, Hartmann AG, BSN Medical GmbH, ArjoHuntleigh, 3M Health Care, Spectrum Healthcare, Bio Compression Systems, Inc., and Gottfried Medical are some of the significant companies operating in the APAC compression therapy market.
Frequently Asked Questions
The APAC compression therapy market size was worth USD 1.05 billion in 2022.
The growing prevalence of chronic venous disorders and lymphedema, increasing healthcare expenditure in the region, and the growing aging population are majorly propelling the APAC compression therapy market.
3M Company, Medtronic plc, BSN Medical GmbH, Sigvaris AG, and Paul Hartmann AG are some of the notable companies in the APAC compression therapy market.
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