India Static Compression Therapy Market, By Product Type (Compression Bandages and Compression Garments (Upper Garments, Lower Garments, Compression Stockings and Diabetic Socks)) and By Distrubution Channel (Retail Pharmacies and Online Pharmacies) is estimated to be valued at US$ 181.1 Million in 2023 and is expected to exhibit a CAGR of 7.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The advent of static compression therapy is expected to provide lucrative growth opportunities in key players. Thus, key market players are focused on adopting growth strategies such as partnerships, and this is expected to drive the India static compression therapy market. For example, in December 2022, Lohmann & Rauscher (L&R), is a international supplier of medical devices, partnered with Meditech Medical Information Technology, Inc., is healthcare provider company for distrubation they are offering Rosidal Lymph, a concept with clear advantages that provides individualised lymphology compression therapy.
India Static Compression Therapy Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) that first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a positive impact on the India static compression therapy market. For instance, According to study published in Cardiology journal in April 2022, Stated that COVID-19 was associated with risk of deep vein thrombosis. Thus, increase in Deep vein thrombosis (DVT) due to COVID-19led to rising demand for compression therapy products during the pandemic.
India Static Compression Therapy Market: Key Developments
Additionally, strategic activities such as product approvals and launches are expected to drive the market growth over the forecast period.
For instance, in April 2022, Koya Medical, is healthcare Manufacturing company, that is developing breakthrough treatments for venous and lymphatic disease, launched Dayspring compression system for lymphedema and venous disease.
In May 2020, AIROS Medical, Inc., is a medical technology manufacturer specialized in compression therapy products, launched its updated AIROS 6 Sequential Compression Therapy device. its updated AIROS 6 Sequential Compression Device provides an efficient, and effective treatment for patients with chronic swelling caused by lymphedema.
Browse 38 Market Data Tables and 34 Figures spread through 172 Pages and in-depth TOC on “India Static Compression Therapy Market”- Forecast to 2030, India Static Compression Therapy Market, by Product Type (Compression Bandages and Compression Garments (Upper Garments, Lower Garments, Compression Stockings and Diabetic Socks)) and By Distrubution Channel (Retail Pharmacies and Online Pharmacies)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/india-static-compression-therapy-market-3532
Key Takeaways of the India Static Compression Therapy Market:
- The India Static Compression Therapy market is expected to exhibit a CAGR of 7.4% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the India static compression therapy market. Increased public awareness for the Thyroid stimulating hormone (TSH) which is expected to drive the growth of market as Thyroid stimulating hormone (TSH) treated with Static Compression Therapy.
- Among 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, further facilitating compression garments are simple and effective means of increasing blood flow activity in the lower limbs through strengthening vein support.
- Major players operating in the India Static Compression Therapy market include 3M , BSN Medical, Sigvaris AG, and Vissco Healthcare, .Cardinal Health, Medi GmbH & Co, ArjoHuntleigh Healthcare India, Bio Compression Systems Inc, Zimmer Biomet India, and Spectrum Healthcare.
