Latin America Compression Therapy Market Worth $290.2 Million By 2026

Latin America Compression Therapy Market Growth & Trends

Latin America compression therapy market size is anticipated to reach USD 290.2 million by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 5.8%. Increase in incidence of chronic diseases and geriatric population are key driving factors. In addition, increasing healthcare expenditure in developing economies of the region and presence of untapped opportunities are factors expected to further boost growth.

Brazil accounted for over 20.0% share in 2018, owing to high adoption of compression stockings. According to a research published in NCBI, compression stockings are extensively used in Brazil to treat venous disorders. In addition, these products are easily available and are known to provide positive results, further promoting the use of compression therapy products across the country. Moreover, improving healthcare infrastructure, economic development, and increasing patient awareness are factors supporting rapid market growth.

Some of the key players are ArjoHuntleigh, Medi GmbH & Co, and Medtronic plc. They are primarily focused on new product launches and distribution enhancement strategies to expand their customer base and increase product accessibility in developing economies.

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Latin America Compression Therapy Market Report Highlights

• Large diabetic population of Latin America and increase in prevalence of chronic disorders among the elderly are expected to drive compression therapy market.

• Static compression dominated the technology segment in 2018, owing to high convenience and greater accessibility of these products in treatment of sports injuries and venous disorders.

• Dynamic technology segment is expected to exhibit strong growth over the forecast period, due to increasing awareness of associated benefits such as improvements in external control, multi-layer compression, and venous return.

• By products, pneumatic pumps is anticipated to witness highest growth over the forecast period. Factors such as availability of single compartment and multiple-chamber nonprogrammable pumps, controlled delivery of pressure based on severity of disorder, high venous return, and sustained effect are key factors contributing towards dominance of this segment.

• Bandages, followed by stockings, dominated the products segment in 2018, with a collective revenue of over USD 80.0 million.

• Increased demand, less bulkiness, minimum slippage, and enabling patients wear normal footwear are factors contributing to the large share of this segment.

Latin America Compression Therapy Market Segmentation

Grand View Research has segmented the Latin America compression therapy market on the basis of technology, product, and countries:

Latin America Compression Therapy Technology Outlook (Revenue, USD Million, 2015 - 2026)

• Static Compression Therapy

• Dynamic Compression Therapy

Latin America Compression Therapy Static Compression Therapy Product Outlook (Revenue, USD Million, 2015 - 2026)

• Compression bandages

• Compression tape

• Compression stockings

• Others (compression garments)

Latin America Compression Therapy Dynamic Compression Therapy Product Outlook (Revenue, USD Million, 2015 - 2026)

• Non-segmented compression pumps

• Segmented compression pumps with gradients

• Segmented compression pumps without gradients

• Compression sleeves

Latin America Compression Therapy Country Outlook (Revenue, USD Million, 2015 - 2026)

• Brazil

• Mexico

• Argentina

• Colombia