The India static compression therapy market provides compression garments, tape, bandages, devices and materials for the treatment and management of wounds, oedema and sports related injuries. Static compression therapy helps reduce swelling, improves blood flow through veins and lymphatic drainage, while also providing muscle and joint support. Rising number of surgical procedures, greater incidence of post-surgical swelling and trauma cases have created substantial need for compression therapy solutions in India.
India Static Compression Therapy Market is estimated to be valued at US$ 208.63 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the India static compression therapy are Stryker Corporation, Hill-Rom Holdings Inc., Arjo, Handicare AB, Etac AB, Sizewise, McAuley Medical Inc., Medline Industries Inc., Samarit Medical AG, Blue Chip Medical, Haines Medical Australia, Scan Medical Co Inc., Wy'East Medical, GBUK Banana, AliMed Inc., Cantel Medical Corporation, EZ Way Inc., and Patient Positioning Systems LLC. The growing demand for compression therapy in India is attributed to increasing prevalence of lifestyle diseases such as diabetes leading to chronic wounds and trauma injuries in sports. Moreover, rising medical tourism and number of surgical procedures performed annually are also fueling market growth. With rising healthcare expenditure and improved access, major players are also exploring opportunities for expansion in tier 2 and tier 3 cities in India.
Market Key Trends
One of the key trends witnessed in the India Static Compression Therapy Market Demand is the growing popularity of advanced compression garments. Technological advancements have led to the development of compression garments made of intelligent fabrics that dynamically adapt compression based on activity levels and swelling. These smart garments provide customized compression to help accelerate healing. Furthermore, the adoption of telemetry compression systems that enable remote monitoring of patients is also on the rise. Such trend of digitization helps improve patient compliance and allows for proactive management of chronic conditions from distance. Additionally, increased awareness through social media marketing campaigns by leading brands is also expanding the market outreach in India.
Porter's Analysis
Threat of new entrants: Low barriers to entry as the technology required is not very sophisticated. However, established brands have strong brand loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, customers tend to stick to established brands due to quality assurance.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are many suppliers for raw materials and components.
Threat of new substitutes: Threat of substitutes is moderate as alternative therapies like physiotherapy are available.
Competitive rivalry: Intense rivalry among existing players to increase their market share. Players compete based on product quality, reliability, services, and pricing.
Geographical Regions
North America holds the highest share in the static compression therapy market in terms value due to rapidly increasing elderly population suffering from lymphedema, deep vein thrombosis and arthritis.
Asia Pacific region is expected to be the fastest growing market during the forecast period attributable to increasing healthcare expenditure, rising medical tourism, and growing awareness about compression therapy.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
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