by Air Pressure Therapy Market to Witness Rapid Growth, Valued at US$4.4 billion by 2023
Market Overview:
The global Air Pressure Therapy market is anticipated to reach a valuation of US$4.4 billion by 2023, with a robust CAGR of 6.3% during the forecast period of 2023-2030. Air Pressure Therapy devices are increasingly used in the medical field due to their numerous advantages. These devices provide controlled compression to various body parts, improving blood circulation, reducing pain, and accelerating the healing process. The increasing prevalence of chronic diseases such as deep vein thrombosis, lymphedema, and chronic venous insufficiency is driving the demand for air pressure therapy products. Additionally, the rising geriatric population, coupled with the growing awareness about non-invasive treatment options, is further boosting market growth.
Market Key Trends:
One key trend in the Air Pressure Therapy market is the growing adoption of portable devices. These devices offer convenience and flexibility to patients, allowing them to receive treatment in the comfort of their own homes. Portable air pressure therapy devices are compact, lightweight, and easy to use. They provide therapeutic pressure to specific body parts, assisting in the prevention of blood clots and relieving symptoms of various disorders. This trend is particularly significant in regions with limited access to healthcare facilities and a high prevalence of chronic diseases. The increased focus on home healthcare and patient-centric treatment approaches is expected to drive the demand for portable air pressure therapy devices in the coming years.
Segment Analysis:
The Global Air Pressure Therapy Market can be analyzed based on the application segment, which includes chronic wounds, lymphedema, deep vein thrombosis (DVT), and others. Among these, the chronic wounds segment is dominating the market.
Chronic wounds are a persistent medical condition that is difficult to heal and includes ulcers, pressure sores, and diabetic foot wounds. The increasing prevalence of chronic wounds due to factors such as diabetes, obesity, and aging population is driving the growth of this segment. Additionally, the rising awareness about advanced wound care treatments and the availability of technologically advanced air pressure therapy products are further fueling the market growth for chronic wounds.
Another contributing factor to the dominance of the chronic wounds segment is the high cost-effectiveness offered by air pressure therapy. This non-invasive and effective treatment approach accelerates the healing process, reduces the risk of infection, and improves patient comfort. As a result, healthcare professionals prefer air pressure therapy for managing chronic wounds, leading to the dominance of this segment in the market.
Key Takeaways:
The global air pressure therapy market is expected to witness high growth, exhibiting a CAGR of 6.3% over the forecast period from 2023 to 2030. This growth can be attributed to several factors, including the increasing prevalence of chronic wounds, lymphedema, and deep vein thrombosis (DVT) globally. Moreover, the rising geriatric population and the growing awareness about advanced wound care treatments are driving the demand for air pressure therapy products.
Regionally, North America is expected to be the fastest-growing and dominating region in the air pressure therapy market. This is primarily due to the high prevalence of chronic wounds and the presence of well-established healthcare infrastructure in the region. Additionally, the increasing adoption of advanced wound care products and the presence of key market players in North America contribute to its dominance in the market.
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, 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. These key players are focusing on product innovations, partnerships, and mergers and acquisitions to strengthen their market position and meet the growing demand for air pressure therapy products worldwide.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
