Compression Garments and Bandages Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Compression Garments and Bandages Market Report Overview
The Compression Garments and Bandages market size is valued at $3.65 billion in 2023. The market is expected to grow at a CAGR of more than 5% during 2023-2033. Compression garments are tight-fitting, elastic garments that exert graduated pressure over certain areas of the body. This ensures continuous blood flow throughout the veins by increasing venous return and reducing peripheral swelling.
Compression bandages are bandages wrapped with gradient pressure for the prevention and treatment of deep vein thrombosis, venous thromboembolism, varicose veins, venous leg ulcers, and cancer-related lymphedema.
Compression Garments and Bandages Market Outlook, 2023-2033 ($ Billion)
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The Compression Garments and Bandages market research report provides an insightful review of the key industry trends and market revenue by segment and market outlooks from 2015-2033. The report also offers granular data on total procedures, units, average selling prices, and market values by segment.
Market Size (2023) | $3.65 Billion |
CAGR (2023-2033) | >5% |
Forecast Period | 2024-2033 |
Historical Period | 2015-2023 |
Key Regions | · North America
· Europe · Asia Pacific · South Central America · Middle East and Africa |
Key Segments | · Compression Garments
· Anti Embolism Stockings · Compression Bandages |
Leading Companies | · Cardinal Health Inc
· BSN Medical GmbH · Paul Hartmann AG · Sigvaris AG · 3M Co |
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Compression Garments and Bandages Market Dynamics
The primary driver of the compression garments and bandages market is the increasing aging population. According to the United Nations, the population of individuals aged over 60 will be at approximately 2 billion by 2050, which is derived from a 3% annual growth rate (UNDESA, 2017). Aging populations are at a higher risk of developing conditions such as varicose veins and venous leg ulcers, generating greater sales of compression garments and bandages. In addition, awareness campaigns and programs for venous diseases help the compression hosiery market, for instance, the American Society of Hematology conducts a campaign called “DVT Awareness Month.” Such Programs will also support the market growth in the coming years.
Compression Garments and Bandages Market Segments
The Compression Garments and Bandages market comprises of Anti Embolism Stockings, Compression Bandages, and Compression Garments. The Compression Garments segment led the market in 2023.- These garments are designed to restore and promote normal fluid circulation. Lower Compression Garments and Upper Compression Garments are the key sub-segments of Compression Garments.
Compression Garments and Bandages Market Analysis by Segments, 2023 (%)
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Compression Garments and Bandages Market Segmentation by Regions
The key regions in the Compression Garments and Bandages market are North America, Europe, Asia Pacific, South Central America, and the Middle East and Africa. North America had the largest share of the Compression Garments and Bandages market and is expected to experience strong growth during the forecast period. In the US and Mexico, a high prevalence of diseases such as lymphedema and deep vein thrombosis has been observed, which has ultimately resulted in a high growth rate for the static compression therapy market. The static compression therapy market in Mexico is estimated to grow at a fast pace as compared to other North American countries because its prevalence is the highest.
Compression Garments and Bandages Market Analysis by Regions, 2023 (%)
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Compression Garments and Bandages Market - Competitive Landscape
Some of the leading companies in the Compression Garments and Bandages market are:
- Cardinal Health Inc
- BSN Medical GmbH
- Paul Hartmann AG
- Sigvaris AG
- 3M Co
Cardinal Health Inc held the largest share of the Compression Garments and Bandages market in 2023. It is followed by BSN Medical GmbH.
Compression Garments and Bandages Market Analysis by Companies, 2023 (%)
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Segments Covered in the Report
Compression Garments and Bandages Segments Outlook (Value, $ Billion, 2015-2033)
- Compression Garments
- Anti Embolism Stockings
- Compression Bandages
Compression Garments and Bandages Regional Outlook (Value, $ Billion, 2015-2033)
- North America
- Europe
- Asia Pacific
- South Central America
- Middle East and Africa
Key Inclusions
Currently marketed Compression Garments and Bandages and evolving competitive landscape –
– Insightful review of the key industry trends.
– Annualized total Compression Garments and Bandages market revenue by segment and market outlooks from 2015-2033.
– Granular data on total procedures, units, average selling prices, and market values by segment.
Global, Regional, and Country level market specific insights –
– Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
– SWOT analysis for the Compression Garments and Bandages market.
– Competitive dynamics insights and trends provided for the Compression Garments and Bandages market.
Drive the understanding of the market by getting the veritable big picture including an overview of the healthcare system. In addition, the Market Access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.
– Country-specific overview of the healthcare system.
– Country-specific reimbursement policies.
– Country-specific medtech regulatory landscape.
Companies covered: Cardinal Health Inc, BSN Medical GmbH, Paul Hartmann AG, Sigvaris AG, 3M Co, medi GmbH & Co KG, Lohmann & Rauscher GmbH & Co. KG, Molnlycke Health Care AB, Thuasne SAS, Medline Industries LP, Smith & Nephew Plc, DJO Global Inc, and Others.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
This Market Model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for –
- CMO executives who must have deep understanding of the Compression Garments and Bandages marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives who must understand crucial components of the supply base in order to make decisions about supplier selection and management.
- Private equity investors that need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
The model will enable you to –
- Understand the impact of COVID-19 on the Compression Garments and Bandages market.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the Compression Garments and Bandages market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Compression Garments and Bandages market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in the global and country-specific Compression Garments and Bandages market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
BSN medical GmbH
Paul Hartmann AG
Sigvaris AG
3M Co
medi GmbH & Co KG
Lohmann & Rauscher GmbH & Co. KG
Molnlycke Health Care AB
Thuasne SAS
Medline Industries LP
Smith & Nephew Plc
DJO Global Inc
Others
Frequently asked questions
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What is the Compression Garments and Bandages market size in 2023?
The Compression Garments and Bandages market is valued at $3.65 billion in 2023.
-
What is the Compression Garments and Bandages market growth rate?
The market is expected to grow at a CAGR of more than 5% during 2023-2033.
-
Which region held the largest share of the Compression Garments and Bandages market?
North America has the largest Compression Garments and Bandages market share in 2023.
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Which segment held the largest share of the Compression Garments and Bandages market?
In 2023, the Compression Garments segment is leading in the Compression Garments and Bandages market.
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Which are the major companies operating in the Compression Garments and Bandages market?
Some of the leading companies in the Compression Garments and Bandages market are Cardinal Health Inc., BSN Medical GmbH, Paul Hartmann AG, Sigvaris AG, and 3M Co. among others.
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