Compression Bandages Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Compression Bandages Market

The compression bandages market size was valued at USD 1.21 billion in 2018, and the market is now projected tgrow from USD 1.21 billion in 2018 tUSD 2.53 billion by 2032, exhibiting a CAGR of 5.4% during the forecast period of 2018-2032.

The COVID-19 pandemic appreciably impacted the compression bandages market growth, undoubtedly and negatively. On the advantageous aspect, multiplied health facility admissions and the upward thrust in chronic wound cases throughout the pandemic drove the call for compression bandages, particularly in treating venous leg ulcers and lymphedema. However, disruptions in supply chains, manufacturing slowdowns, and regulations on optional medical approaches negatively affected the marketplace, mainly in the early phases of the pandemic. The attention on handling COVID-19 cases caused delayed treatments for non-urgent conditions, reducing the immediate call for compression therapy. Post-pandemic healing has been marked by an uptick in call for as healthcare systems resume everyday operations and the focus on superior wound care answers grows.

The effectiveness of compression bandages relies upon the pressure it exerts on the affected location. The producers are consequently emphasising introducing compression bandages of a wider strain variety. The agencies alsproduce compression bandages, the use of a blend of greater than twmaterials timprove their elasticity. The newly brought bandages are made up of cotton, polyester, and elasticated yarn, used in various quantities tdifferentiate stretch. Moreover, the emergence of manufacturers of compression bandages in developing international locations is projected tenhance the accessibility of the products for the duration of the sector in the coming years, which in turn will have an advantageous impact on the compression bandages market share.

Additionally, Lymphedema is another distinguished disorder indication for which compression bandages are fairly preferred. According tthe NHS, about twhundred 000 human beings are tormented by lymphedema in the U.K. Annually. Hence, the growing prevalence of lymphedema and continual wounds worldwide is projected tboost the uptake of compression bandages at some stage in the forecast duration.

Comprehensive Analysis of Compression Bandages Market

The compression bandages marketplace is segmented by product intbrief stretch, lengthy stretch, and multilayer compression bandages. Cloth consists of polyester, latex, cotton, and others, with latex dominating the market in 2018, even though the developing use of cotton quick-stretch bandages is predicted treinforce the cotton segment. Key packages encompass wound management, lymphedema, deep vein thrombosis (DVT), and others, with lymphedema dominating in 2018 due tits link tbreast cancer occurrence, while DVT is projected tdevelop at the very best CAGR. End-users consist of hospitals and ambulatory surgical centres, clinics, nursing care centres, home care, and others, with hospitals leading in 2018, but home care is predicted tgrow quicker through 2026.

Europe generated a revenue of USD 340.4 Million in 2018, attributable tthe larger presence of international compression bandage manufacturers, the availability of loads of compression bandages, and more focus among the population on effectual control of venous ulcers and lymphedema.

The compression bandages market features prominent players including Essity (Sweden), Paul Hartmann AG (Germany), Smith & Nephew plc (UK), Mölnlycke Health Care AB (Sweden), Lohmann & Rauscher GmbH & Co. KG (Germany), B. Braun Melsungen AG (Germany), 3M (USA), Cardinal Health (USA), and ConvaTec Group PLC (UK). These companies are key players driving innovation and competition in the global market.

In June 2019, Milliken and Company announced the purchase of Andover Healthcare, Inc., one of the leading companies of compression systems and cohesive bandages, tprovide revolutionary and comprehensive answers for affected person care.

Segmentation Table

Global Compression bandages Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 5.4% from 2024-2032

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By product, material, application, End-User, and Region

By product

Short Stretch Bandages

Long Stretch Bandages

Multilayer Compression Bandages

By material

Polyester

Latex

Cotton

Others

By application

Wound Management

Deep Vein Thrombosis (DVT)

Lymphedema

Others

By end-user

Hospitals & Ambulatory Surgical Centers

Clinics

Nursing Care Centers & Skilled Nursing Facilities

Home Care

Others

By Region

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)