by Market Overview:
Air pressure therapy, also known as compression therapy, utilizes external pressure to reduce swelling and improve blood circulation. It involves wrapping an affected body part like legs, arms or abdomen with compressive bandages or sleeves to deliver precise pressure. This therapy is commonly used to treat illnesses such as deep vein thrombosis, lymphedema and chronic venous insufficiency.
Market Dynamics:
The primary drivers expected to boost the global air pressure therapy market growth over the forecast period include rising prevalence of vascular disorders and growing geriatric population who are more prone to such conditions. As per the CDC, venous diseases affect about 30 million Americans annually and one-third of adults over the age of 65 may experience signs of chronic venous insufficiency. Furthermore, growing adoption of telehealth for remote monitoring of patients undergoing pressure therapy during pandemic is also favoring market growth. In addition, technological advancements in product design leading to smart, digitalized garments and sleeves are creating new opportunities. However, lack of adequate health insurance coverage for compression therapy in developing nations may hamper market growth.
Segment Analysis
The air pressure therapy market is dominated by the portable pumps sub-segment. Portable pumps offer greater convenience over stationary pumps as they can easily be carried around and are lightweight. Their battery-operated nature allows patients to remain mobile during therapy sessions. This has fueled the demand for portable air pressure pumps.
The global Air Pressure Therapy Market Growth is estimated to be valued at US$ 4.4 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
PEST Analysis
Political: The governments of various countries are supporting initiatives to increase awareness about lymphedema and develop effective treatment options. This helps patients access air pressure therapy.
Economic: The rising healthcare expenditure coupled with growing disposable incomes has increased access to advanced treatment technologies such as air pressure therapy worldwide.
Social: Awareness campaigns by healthcare organizations and patient support groups have educated people about lymphedema and the benefits of air pressure therapy. This is positively impacting the market growth.
Technological: Manufacturers are developing sophisticated and user-friendly air pressure therapy devices integrated with Bluetooth and Wi-Fi for remote monitoring. Smart pumps with customized compression settings aid treatment.
Key Takeaways
The global air pressure therapy market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing prevalence of lymphedema and chronic venous insufficiency.
The North American region dominates the market owing to major technology advancements and rising healthcare expenditure in countries like the US and Canada. However, Asia Pacific is emerging as the fastest growing market for air pressure therapy attributed to growing medical tourism, increasing healthcare spending, and rising incidence of targeted diseases.
Key players operating in the air pressure therapy market are DJO Global, Inc., BSN medical (now part of Essity), Smith & Nephew plc, medi GmbH & Co. KG, SIGVARIS Group, Bio Compression Systems, Inc., Tactile Medical, RIKEN SEIKI CO., LTD., Paul Hartmann AG, 3M Company, Gottfried Medical, Inc., Mego Afek AC Ltd., Abov Semiconductor, Persys Medical, BTL Industries, Human Meditek Co., Ltd., Huntleigh Healthcare Limited (part of Arjo), KCI Licensing, Inc., Beijing Huibo Medical Device Co., Ltd., and Bioinicia S.L.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
