India Static Compression Therapy Market Growth Accelerated by Rising Geriatric Population
Static Compression Therapy Market |
Static compression therapy consists of compression garments and compression bandages that help support veins and lymph vessels to reduce pressure and swelling in the arms and legs. These products are used for treatment of venous diseases, sports injuries, post-surgery recovery, and prevention of deep vein thrombosis. The increasing incidences of chronic venous diseases and sports injuries have generated the need for static compression therapy products.
India static
compression therapy market is estimated to be valued at US$ 185 million in 2023
and is expected to exhibit a CAGR of 9.7% over the forecast period 2024-2031,
as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising geriatric population is one of the key trends driving the growth of India
static compression therapy market. As per a United Nations report, India's
population aged 60 years and above is projected to grow to around 300 million
by 2050 from 140 million in 2021. With aging comes increased susceptibility to
diseases such as chronic venous diseases. According to a study published in
BioMed Research International, the prevalence of chronic venous diseases in
elderly population is around 30-40%. The rising geriatric population has
increased the patient pool undergoing treatment using static compression
therapy products and this is expected to contribute to the market growth over
the forecast period.
Segment
Analysis
India static compression therapy market is dominated by the compression
garments sub-segment. This is because compression garments provide effective
and targeted compression to treat various conditions such as edema, varicose
veins, and deep vein thrombosis. The lightweight, comfortable, and easy to use
nature of compression garments makes them a preferred option over other static
compression therapy products.
Key Takeaways
India
Static Compression Therapy Market Demand is expected to witness high
growth over the forecast period of 2024 to 2031. The growing elderly population
suffering from chronic conditions like osteoarthritis is driving the demand for
static compression therapy in India.
Regional analysis: The western region of India dominates the static compression
therapy market owing to the developed healthcare infrastructure and rising
healthcare expenditure in states like Maharashtra. The efforts by public and private
players to spread awareness about compression therapy are also boosting the
adoption of static compression products in this region.
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