South Korea Compression Therapy Market Size & Outlook
South Korea compression therapy market, 2018-2030 (US$M)
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South Korea compression therapy market highlights
- The South Korea compression therapy market generated a revenue of USD 77.3 million in 2023 and is expected to reach USD 113.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.6% from 2024 to 2030.
- In terms of segment, static compression therapy was the largest revenue generating technology in 2023.
- Dynamic Compression Therapy is the most lucrative technology segment registering the fastest growth during the forecast period.
Compression therapy market data book summary
| Market revenue in 2023 | USD 77.3 million |
| Market revenue in 2030 | USD 113.0 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Static compression therapy |
| Fastest growing segment | Dynamic Compression Therapy |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Static Compression Therapy, Dynamic Compression Therapy |
| Key market players worldwide | Cardinal Health Inc, Hartmann Holdings, Svenska Cellulosa AB ADR, ArjoHuntleigh, 3M Co, Spectrum Healthcare Resources, Bio Compression Systems, Stryker Corp, Ohio Valley Banc Corporation, Tactile Medical, Essity, Juzo, Harbor Health Care ETF, Sigvaris |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.9% of the global compression therapy market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China compression therapy market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 75.2 million by 2030.
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Compression Therapy Market Scope
Compression Therapy Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea compression therapy market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to compression therapy market will help companies and investors design strategic landscapes.
Static compression therapy was the largest segment with a revenue share of 72.19% in 2023. Horizon Databook has segmented the South Korea compression therapy market based on static compression therapy, dynamic compression therapy covering the revenue growth of each sub-segment from 2018 to 2030.
Rising geriatric population, which is more prone to develop conditions like varicose veins & PAD , growing prevalence of chronic diseases such as venous disorders, lymphedema, & DVT, advancements in technology, and the development of innovative compression therapy products is expected to fuel the South Korea compression therapy market.
The global prevalence of varicose veins differs significantly, showing figures from 1% to 73% among women and 2% to 56% among men. In South Korea, the count of individuals undergoing medical care for varicose veins has been rising by 5.4% annually, as recent data from the NHI Corporation indicates.
Furthermore, South Korea's robust healthcare infrastructure and increasing healthcare expenditure have provided a conducive environment for market growth. In 2023, South Korea’s, per capita health expenditure stands at USD 4,570, closely aligning with the OECD average of USD 4,986.
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Our clientele includes a mix of compression therapy market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea compression therapy market, including forecasts for subscribers. This country databook contains high-level insights into South Korea compression therapy market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea compression therapy market size, by technology, 2018-2030 (US$M)
South Korea Compression Therapy Market Share, 2023 & 2030 (US$M)
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