Static compression therapy is widely used for treatment of sports-related injuries and conditions such as sprains, strains and cramps. Athletes from various domains including cricket, football, badminton and tennis in India often suffer from sports injuries owing to intense physical exertion and competition at the national and international levels. Use of static compression devices helps accelerate healing process and prevents further damage or inflammation in tissues and muscles.
India Static Compression Therapy Market is estimated to be valued at US$ 102.8 million in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Static compression therapy involves application of an elastic or inelastic bandage, sock or sleeve to provide sustained graduated pressure around an injured area of the body. Products associated with this market include compression pumps, compression garments and compression stockings. These compression devices are used by athletes, patients undergoing physical therapy, and people suffering from conditions like varicose veins, deep vein thrombosis and ankle swelling. Increasing awareness about benefits of static compression in reducing pain, edem and strain has led to surge in demand. The static compression devices market in India is further driven by rising instances of obesity and sedentary lifestyles leading to more risk of injuries and conditions curable with compression therapy.
Market Dynamics:
Rise in sports injuries is one of the key drivers propelling growth of India static compression therapy market. Growing popularity of sports has translated to expanding number of athletes in India. However, intense training regimens and competitions have also seen a spike in instances of sports injuries like sprains, strains and fractures. Compression therapies are extensively prescribed by physiotherapists for faster healing of injuries and preventing long term damage. Static compression kits help contain inflammation, reduce pain and swelling while stabilizing the injured area. This significantly aids rehabilitation process and earlier return to sports activities. The other driver augmenting market expansion is increasing prevalence of lifestyle diseases such as diabetes, obesity and varicose veins in India. Compression socks and stockings are effective remedies for conditions arising due to sedentary routines, poor circulation and overweight problems. Rising health consciousness and availability of innovative compression wearables have boosted their adoption in Indian population.
Segment Analysis
India static compression therapy market is segmented by product into compression garments, compression braces, and compression pumps. The compression garments segment dominates the market and accounts for over 45% share of the market. This is because compression garments are affordable and provide multidirectional compression to treat lymphedema, deep vein thrombosis, and other conditions effectively.
PEST Analysis
Political: The government has launched several initiatives to increase awareness about preventive healthcare and treatment of chronic conditions. However, changes in import tariffs can impact market dynamics.
Economic: Rising healthcare expenditure and increasing incidence of chronic diseases in India are driving market growth. However, high cost of advanced compression therapy devices remains a challenge.
Social: Growing health and fitness trends are raising awareness about preventive healthcare. Social media is also playing an important role in increasing awareness about compression therapy.
Technological: New smart compression garments with built-in sensors are gaining popularity. However, high costs and limited technological advancement restrain market growth to some extent.
Key Takeaways
India static compression therapy market is expected to witness high growth. India Static Compression Therapy Market Demand is projected to grow from USD 45 million in 2022 to USD 82 million by 2030, registering a CAGR of 9.7% during the forecast period.
Regional analysis: The western region dominates India’s static compression therapy market owing to advanced healthcare infrastructure and higher healthcare spending. The region accounted for over 35% market share in 2022. The southern region is witnessing fastest growth due to growing medical tourism and increasing adoption of compression therapy devices among athletes.
Key players operating in India static compression therapy market are 3M, BSN Medical,medi GmbH & Co KG, Julius Zorn GmbH, SIGVARIS, and Paul Hartmann AG. 3M leads the market with its wide range of compression garments and bandages. medi focuses on advanced compression pumps for lymphedema treatment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
