India’s Static Compression Therapy Industry Set to Soar with 7.2% CAGR by 2026 | According to FMI

India's Static Compression Therapy Industry

India’s Static Compression Therapy Industry is on the brink of substantial growth, with industry projections anticipating a valuation of US$ 112.0 million by the end of 2026. This surge is fueled by a robust compound annual growth rate (CAGR) of 7.2%, driven primarily by the escalating demand for compression garments and bandages. The rising diabetic and geriatric population has contributed significantly to the increasing need for effective therapeutic solutions.

Static compression therapy, a non-invasive treatment methodology, utilizes elastic bandages or garments to apply targeted pressure to affected areas. Its versatility in addressing various health conditions, including venous diseases like varicose veins and deep vein thrombosis, as well as lymphedema, underscores its significance in the medical landscape.

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Strong demand from diabetics and the geriatric population will continue to drive the growth of the India Static Compression Therapy Industry 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 Industry 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 Industry, 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 India’s Static Compression Therapy Industry.

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The key players in India’s Static Compression Therapy Industry 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 in the market.

Long-term Outlook: The long-term outlook on the India Static Compression Therapy Industry is positive, with total revenues expected to increase at a CAGR of 7.2% during the forecast period 2015-2025.

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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Author:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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