INDIA STATIC COMPRESSION THERAPY MARKET ANALYSIS

India Static Compression Therapy MarketSize and Trends

The India static compression therapy market is estimated to be valued at US$ 181.1 Milion in 2023 and is expected to exhibit a CAGR of 7.4% during the forecast period (2023-2030).

Market Trends:

Increasing prevalence of diabetes disease, rising geratic population and increasing awareness about diabetic diseases are expected to drive the India static compression therapy market  over the forecast period. To enable a platform that is rapid, efficient sample processing and in order to reduce the risk of manual errors, medical device manufacturers in the endovenous laser treatment market are focusing on offering end users with user-friendly products.

India Static Compression Therapy Market – Driver

Rising incidence of  Diabetes

Rising incidence of diabetes is expected to drive the India static compression therapy market growth over the forecast period. For instance, according to the World Health Orgnisation in May 2021, 77 million people above the age of 18 years in 2020 are suffering from diabetes (type 2) and nearly 25 million are prediabetics (at a higher risk of developing diabetes in near future) in India. More than 50% of people are unaware of their diabetic status that leads to health complications if not detected and treated early in India.

India Static Compression Therapy Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, India faced problems regarding  transportation of pharmaceutical products from one place to another.

However, the COVID-19 pandemic had a positive impact on the India static compression therapy market. For instance, According article published in World health orgnisation in 2021, Compression therapy is an essential part of universal health coverage along with the promotion of good health, prevention of disease, treatment, and palliative care which include compression therapy in Covid-19. There are several advantages associated with compression therapy, that is expected to drive the marketgrowth.

 India Static Compression Therapy Market- Segmentation:

The  India static compression therapy market report is segmented into by product type and by distribution channel.

By Product Type , the market is segmented into compression bandages and compression garments out of which, the compression garments segment is expected to hold a dominant position in the India static compression therapy market during the forecast period, owing increase in surgeries of arms and legs.

By distribution channel, the market is segmented into retail pharmacies and online pharmacies. Out of which, the Retail pharmacies segment is expected to hold a dominant position in the India static compression therapy market during the forecast period, owing to increasing number of retail pharmacies in India

Among all the segmentations the product type segment has the highest potential due to the compression garments is widely used in medical treatments. In many sportswear, it is an important addition to athletics and fitness activities. It is expected to enhance the performance of the athletes, decrease the possibility of injury, and accelerate the recovery process. In many burn cases, compression garments are very helpful in minimizing the formation of hypertrophic scars and enhancing the maturation process of scars.

 India Static Compression Therapy Market: Key Trends

Increasing adoption of stockings expected to boost the India static compression therapy market

Increasing adoption of stockings expected to boost the India static compression therapy market expansion in the India. For instance, According to the article released in Dov medical press journal in September 2021, Reported the Improving Adherence to Wearing Compression Stockings for Chronic Venous Insufficiency and Venous Leg Ulcers. Patient adherence to wearing compression stockings in the management of chronic venous insufficiency (CVI) and venous leg ulcers (VLUs) is low. Poor adherence with compression stockings contributes to recurrence and impaired healing of VLUs.