Medical Compression Pump Market Overview
Product Overview and Scope of Medical Compression Pump
The medical compression pump is a device that treats venous disease and chronic edema (swelling) with the use of forced air into garments or sleeves that are placed on the arms or legs having its major use in the healthcare industry. The compression garment or sleeve is segmented into chambers that can be programmed to treat and cure a patient's particular condition. These compression pumps are commonly used to treat arms and legs, but can also be used to treat the neck, head, and even the torso. The medical compression pumps are also used to specific body parts, single limbs, or multiple areas of the body simultaneously. These pumps are often used for those patients who suffer from lymphedema (swelling of the extremities), venous stasis ulcers, and also the treatment of blood clots also known as DVT (Deep Vein Thrombosis).
The medical compression pumps market has been witnessing steady growth during the past few years owing to the rising prevalence of chronic diseases, increasing awareness about the benefits of compression therapy, and the rise in the geriatric population. Moreover, there are a lot of technological advancements and innovations in medical compression pumps. Technological advancements such as the pumps are digitally connected, smart compression systems which move more blood to prevent stasis, and also track compliance with patient sensing technology. Thus, increased awareness among healthcare professionals and patients about the benefits of compression therapy is fueling the demand for medical compression pumps.
Medical Compression Pump Market – Global Industry Analysis
Market Drivers
- Growing Awareness About the Benefits of the Compression Therapy
Compression therapy works by exerting external pressure on the lower extremities and preventing the gravity which disrupts/impairs the lymphatic and venous outflow caused due to injuries, accidents, chronic venous disease, DVT (Deep Vein Thrombosis), and others. For instance, according to the Centers for Disease Control and Prevention (CDC), 2020, the number of people affected by Deep Vein Thrombosis (DVT) was approximately 900,000 in the United States. Thus, number of people affected by DVT goes on increasing each coming year. For treating several health conditions such as lymphedema, venous insufficiency, and chronic wounds, compression therapy is proven to be an effective treatment option in improving blood circulation, managing edema, reducing swelling, promoting wound healing, and preventing blood clots. The healthcare professionals and patients have also recognized the benefits and positive outcomes of the therapy, thereby, resulting in an increased preference for compression therapy leading to increased demand for medical compression pumps.
- Increasing Number of Orthopedic Procedures
- Recent Technological Advancement
Global Medical Compression Pump Revenue by Regions (2018-2023)
Global Medical Compression Pump Revenue and Market Share (%) by Regions (2018-2023)
Global Medical Compression Pump Revenue (USD Million) by regions (2018-2023)
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
573.5 |
XX |
The global Medical Compression Pump market was valued at USD 573.5 million, in 2022 and is expected to grow at a CAGR of 5.8% over the forecast period, from 2023 to 2030.
Global Medical Compression Pump Market Segmentation
By Product Type
- Lymphedema/ Pneumatic Compressor Pump
- DVT Compressor Pump
- Others
By Application
- Lymphedema Ulcer
- Varicose Vein
- Accidental and Injury
- Arthroplasty
- Others
By End-User
- Hospitals & Clinics
- Home-care
- Others
By Distribution Channel
- Online
- Offline
Global Medical Compression Pump Market, by Product Type
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|
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Source: Cognitive Market Research |
Global Medical Compression Pump Manufacturers Profiles/Analysis
Cardinal Health
Cardinal Health Company Basic Information, and Sales Area
|
|
Item |
Description |
|
1 |
Company Name |
Cardinal Health |
|
2 |
Website |
www.cardinalhealth.com |
|
3 |
Established Date |
1971 |
|
4 |
Headquartered |
Dublin, Ohio |
|
5 |
Market Position/History |
Cardinal Health completed the privatisation of its clinical and medical goods businesses in 2009, forming CareFusion, an independent medical technology company. Cardinal Health is now trading on the New York Stock Exchange under the symbol CAH. Cardinal Health mentioned in December 2013 that it would collaborate with CVS Caremark to establish a generic medicine procurement operation in the United States. Red Oak Sourcing was established in July 2014 and commenced operations. With FY2020 annual revenue, it is rated 14 on the Fortune 500 list as of August 2021. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
United States, Canada, Europe, Asia, Latin America, and others |
|
8 |
Ticker |
CAH |
|
9 |
No. of Employees |
46,500 (As of June 2022) |
|
10 |
Competitors |
BIO COMPRESSION SYSTEMS, DJO, LLC, Lymph Care, AIROS Medical, Inc., Spectrum Healthcare |
|
11 |
CEO |
Debbie Weitzman |
|
12 |
Ownership Type |
Public |
|
13 |
Contact Details |
7000 Cardinal Place, Dublin, OH 43017 Tel: 6147575000 |
Business Segment/Overview:
Cardinal Health is in the healthcare business, focusing on the distribution and provision of medical products and services. Cardinal Health is divided into three business segments which are pharmaceutical distribution, medical products, and pharmaceutical manufacturing. Cardinal Health focuses on pharmaceutical distribution because it has a large network of hospitals, pharmacies, clinics, and other healthcare providers.
Business Strategy
Cardinal Health is based on a customer-centric approach that prioritizes knowing and meeting the specific needs of its clients. Engaging actively with healthcare providers, pharmacies, hospitals, and other healthcare organisations. Cardinal Health seeks to provide complete and integrated healthcare solutions through collaboration and partnerships. This comprises a wide range of pharmaceutical distribution, medical products, and pharmaceutical manufacturing products, services, and technological solutions. Another distinctive aspect of Cardinal Health is the focus on operational excellence.
