The demand for India’s Static Compression Therapy Market is surging, driven by a growing awareness of its benefits in managing various health conditions. The market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 7.2% until 2032.
Compression therapy plays a crucial role in the management of various vascular conditions such as deep vein thrombosis (DVT), lymphedema, chronic venous insufficiency (CVI), and peripheral artery disease (PAD). This non-invasive treatment method involves the application of pressure to affected areas, promoting blood circulation, reducing swelling, and alleviating symptoms.
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Strong demand from diabetics and the geriatric population will continue to drive the growth of the Indian static compression therapy market in 2016. Demand will also grow on account of the rising incidence of venous ulcers and other vein diseases. Compression bandages will continue to outsell compression garments, with the former accounting for a revenue share of over 60% in 2015. Overall, the India static compression therapy market is anticipated to rake in US$ 112 Mn in revenues in 2016.
Retail pharmacies will remain the dominant distribution channel, accounting for over 62% revenue share of the market in 2016. Valued at US$ 63 Mn in 2015, the retail pharmacies distribution channel will grow at 7.4% in terms of revenues to reach US$ 67.6 Mn in revenues in 2016.
Sales of compression therapy products and services are also growing through online channels. Online pharmacies are leveraging on offering doorstep delivery and competitive pricing to appeal to end-users. Sales through online pharmacies totaled US$ 39.9 Mn in 2015, and are expected to grow at 5.5% in 2016 to reach US$ 42.11 Mn.
Several players are anticipated to enter the Indian static compression therapy market, considering the steady growth that the market is currently experiencing. 3M Co., BSN Medical, Sigvaris AG, and Vissco Healthcare are some of the leading players in the Indian static compression therapy market.
The key players in the Indian static compression therapy market are focusing on establishing distribution channels and creating awareness about the benefits of compression stocks among patients. Coban 2 Lite Compression Systems, Jobst, and Vissco Platinum are some of the well-known static compression therapy products available on the market.
Long-term Outlook: The long-term outlook on the Indian static compression therapy market is positive, with total revenues expected to increase at a CAGR of 7.2% during the forecast period 2015-2025.
India Static Compression Therapy Market Key Segments Covered
By Product Type
- Compression Bandages
- Compression Garments
- Upper Garments
- Lower Garments
By Distribution Channel
- Retail Pharmacies
- Online Pharmacies
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