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Air Pressure Therapy Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Chronic Conditions and Growing Geriatric Population

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Gauri Cmi
Air Pressure Therapy Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Chronic Conditions and Growing Geriatric Population



The Air Pressure Therapy Market is estimated to be valued at US$ 4.4 Billion in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Air pressure therapy involves the use of devices that apply air pressure to various parts of the body to promote blood circulation and alleviate symptoms associated with chronic conditions such as lymphedema, deep vein thrombosis, and venous leg ulcers. These devices are widely used in hospitals, clinics, and home care settings, providing a non-invasive and effective treatment option. The increasing prevalence of chronic conditions, coupled with the growing geriatric population, is driving the demand for air pressure therapy devices.

Market Dynamics:

The market dynamics for the Global Air Pressure Therapy Market are driven by two main factors. Firstly, the increasing prevalence of chronic conditions such as lymphedema, deep vein thrombosis, and venous leg ulcers is driving the demand for air pressure therapy devices. These devices provide a non-invasive and effective treatment option for patients suffering from these conditions. Secondly, the growing geriatric population is also contributing to the market growth. The elderly population is more prone to chronic conditions, leading to an increased demand for air pressure therapy devices. This is creating a lucrative market opportunity for manufacturers in the air pressure therapy market.

Segment Analysis:

The Air Pressure Therapy market can be segmented based on product type, application, and end-user.

By product type, the market is dominated by compression therapy garments, which are specifically designed to provide therapeutic pressure to the affected area. These garments are widely used in the treatment of conditions such as deep vein thrombosis, lymphedema, and chronic venous insufficiency. Due to their effectiveness and ease of use, compression therapy garments hold a significant market share in the Air Pressure Therapy market.

By application, the market is segmented into wound healing, lymphedema management, deep vein thrombosis treatment, and others. Among these, wound healing is the dominating segment, as air pressure therapy devices aid in the healing process by improving blood circulation and reducing swelling. The increasing prevalence of chronic wounds, such as diabetic foot ulcers and venous leg ulcers, drives the growth of this segment.

By end-user, hospitals and clinics account for the largest market share in the Air Pressure Therapy market. The availability of advanced medical infrastructure and the presence of skilled healthcare professionals contribute to the dominance of this segment. Moreover, hospitals and clinics have a higher patient footfall and thus, the demand for air pressure therapy devices is higher in these settings.

PEST Analysis:

Political: The political landscape does not have a significant impact on the Air Pressure Therapy market. However, regulations related to healthcare reimbursement policies and medical device approvals may influence market growth.

Economic: The economic factors such as increasing healthcare expenditure, rising disposable income, and growing population contribute to the growth of the Air Pressure Therapy market. Additionally, favorable reimbursement policies in developed countries drive market growth.

Social: The growing prevalence of chronic wounds, diabetes, and venous disorders is a crucial social factor driving the demand for air pressure therapy devices. Moreover, the aging population and the increasing awareness about advanced wound care management contribute to market growth.

Technological: Technological advancements in air pressure therapy devices, such as the integration of smart sensors and wireless connectivity, enhance ease of use and patient compliance. Furthermore, advancements in material technology for compression garments improve patient comfort, thereby boosting market growth.

Key Takeaways:

The global Air Pressure Therapy market is expected to witness high growth, exhibiting a CAGR of 6.3% over the forecast period (2023-2030). This growth can be attributed to the increasing prevalence of chronic wounds, diabetes, and venous disorders, which require effective wound healing and management solutions.

In terms of regional analysis, North America is currently the fastest-growing and dominating region in the Air Pressure Therapy market. The region's strong healthcare infrastructure, high healthcare expenditure, and favorable reimbursement policies contribute to market growth. Moreover, the presence of key players and technological advancements in the region further drive market expansion.

Key players operating in the Air Pressure Therapy market include DJO Global, Inc., BSN medical (now part of Essity), Smith & Nephew plc, medi GmbH & Co. KG, SIGVAR

 

Read More: https://www.rapidwebwire.com/air-pressure-therapy-market-analysis-and-growth/


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