by The Air Pressure Therapy market is estimated to be valued at US$ 4.4 Billion in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Air Pressure Therapy is a non-invasive therapeutic technique that uses air pressure to treat various medical conditions such as chronic wounds, lymphedema, deep vein thrombosis, and venous ulcers. It is widely used in hospitals, clinics, and home care settings. The therapy works by applying controlled air pressure to the affected area, which helps improve blood circulation, reduce swelling, and promote wound healing. The market offers a wide range of air pressure therapy products such as compression stockings, compression sleeves, compression pumps, and compression garments.
Market Dynamics: The Global Air Pressure Therapy Market is driven by the rising prevalence of chronic wounds, especially among the elderly population. According to the World Health Organization, the global burden of chronic wounds is expected to increase significantly in the coming years. Furthermore, the increasing geriatric population, who are more susceptible to chronic wounds, is also contributing to the market growth. Additionally, technological advancements in air pressure therapy devices, such as portable and wearable devices, are further fueling market growth. These devices offer convenience and ease of use to patients, leading to increased adoption.
Segment Analysis:
The air pressure therapy market can be segmented by product type, application, end-user, and region. In terms of product type, the market is dominated by compression pumps. These devices are widely used to treat conditions such as lymphedema, deep vein thrombosis, and chronic venous insufficiency. Compression pumps provide consistent, controlled pressure to the affected area, improving blood circulation and reducing swelling. Due to their effectiveness and versatility, compression pumps hold a dominant share in the air pressure therapy market.
PEST Analysis:
Political: The political factors influencing the air pressure therapy market include government regulations and healthcare policies that impact the availability and reimbursement of these devices.
Economic: The economic factors affecting the market include healthcare expenditure, income levels, and the cost of medical devices.
Social: The social factors influencing the market include the prevalence of chronic diseases, aging population, and increasing awareness about the benefits of air pressure therapy.
Technological: The technological factors impacting the market include advancements in compression pump technology, such as portable and wearable devices, and the integration of smart features for remote monitoring and customization.
Key Takeaways:
The global air pressure therapy market is expected to witness high growth, exhibiting a CAGR of 6.3% over the forecast period (2023-2030), due to increasing prevalence of chronic diseases and a growing aging population. The market is estimated to reach a value of US$ 4.4 Billion by 2023. Regionally, North America is the fastest-growing and dominating region in the market, driven by the presence of key market players, favorable reimbursement policies, and a well-established healthcare infrastructure. Key players operating in the air pressure therapy market include DJO Global, Inc., BSN medical (now part of Essity), Smith & Nephew plc, medi GmbH & Co. KG, SIGVARIS Group, and Bio Compression Systems, Inc., among others. These companies play a significant role in the market and contribute to its growth through various strategic initiatives such as product launches, mergers and acquisitions, and collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
