by Market Overview:
The India Static Compression Therapy Market is estimated to be valued at US$ 181.1 Mn in 2022 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Static compression therapy involves the application of graduated pressure to help reduce swelling and promote healing. It is commonly used to treat conditions such as deep vein thrombosis, lymphedema, and post-thrombotic syndrome. The growing prevalence of such medical conditions and rising awareness about compression therapy products are driving increased demand in the Indian market.
Market Dynamics:
The India static compression therapy market is expected to witness robust growth over the forecast period owing to two key drivers. Rising geriatric population prone to circulatory disorders and venous diseases is a major factor augmenting market demand. As per WHO, India had 140 million elderly aged 60 years and above in 2020, and the proportion is projected to rise to 323 million by 2050. Additionally, increasing Healthcare expenditure and focus on preventive care is another key aspect fueling market growth. The government aims to raise public health spending to 2.5% of GDP by 2025, thereby supporting wider availability and adoption of compression therapy products.
India Static Compression Therapy Market key trends:
One of the key trends in the India static compression therapy market is the growing preference for premium compression therapy products. With rising health awareness and disposable incomes, Indian customers are increasingly willing to pay more for advanced compression garments and socks that offer improved circulation and therapeutic benefits. Manufacturers are launching novel products integrated with specialized fabrics, adjustable compression levels, breathability, and otherfeatures. This is expected to accelerate the adoption of compression therapy in India.
SWOT Analysis
Strengths: Increased acceptance of compression therapy for preventive healthcare. Growing awareness about lymphedema treatment compliance.
Weaknesses: High costs of premium compression products limiting widespread adoption. Lack of awareness in rural areas.
Opportunities: Untapped rural markets present major growth potential. Rising medical tourism creating demand.
Threats: Alternative therapies such as yoga and acupressure gaining popularity. Intense competition in domestic market.
Key Takeaways
The India Static Compression Therapy Market Size was valued at US$ 181.1 Mn in 2022. Driven by rising incidence of obesity, diabetes, and lymphedema in India, the market is expected to grow at a CAGR of 7.4% during the forecast period.
Regional analysis
The Western region currently dominates India’s static compression therapy market, accounting for over 35% share. This can be attributed to higher health awareness and growing diabetic population in states like Maharashtra. Meanwhile, Southern India is emerging as another fast-growing regional market backed by rising medical tourism and investments in healthcare sector in cities like Bengaluru and Chennai.
Key players
Key players operating in the India static compression therapy market are 3M, BSN Medical, Sigvaris AG, Cardinal Health, Medi GmbH & Co, ArjoHuntleigh Healthcare India, Bio Compression Systems Inc, Zimmer Biomet India, Spectrum Healthcare and Vissco Healthcare. These players are focusing on launching innovative product variants integrated with advanced fabrics and digital technologies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
