by The Global Lymphedema Treatment Market is estimated to be valued at US$ 1.98 Bn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Lymphedema treatment market deals with products used in treating lymphedema. Lymphedema is a condition characterized by swelling resulting from a blockage in the lymphatic system which leads to localized accumulation of fluid rich in protein called lymph. Common treatment options include compression garments, devices and drug therapies. Compression garments such as stockings, sleeves and wraps are widely used to manually pump the lymph out of swollen limbs. Devices such as pneumatic pumps offer controlled compression to drain out excess lymph fluid. Drug therapies include medicines used to prevent or treat infections and inflammation associated with lymphedema.
Market key trends:
Rising prevalence of lymphedema due to increasing cancer surgeries is a key trend driving the market growth. Developing advanced compression garments and devices is another major trend observed in the market. Manufacturers are focusing on patient compliance and comfort by introducing innovative designs that offer adjustable compression and convenient application. Growing awareness about lymphedema treatment options especially in developing regions through social media campaigns and support groups is improving treatment seeking behavior.
Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements to enter the lymphedema treatment market. Established players have strong brand recognition and customer loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative treatment options. However, lymphedema has no permanent cure so demand exists.
Bargaining power of suppliers: A few major players dominate the supply market. Suppliers have moderate bargaining power due to availability of substitutes and differentiated products.
Threat of new substitutes: Threat of substitution is low as lymphedema has no complete cure. However, alternative treatment options provide competition.
Competitive rivalry: The market is highly competitive with large players having significant market share. Players compete based on product innovation, quality, and pricing.
Key Takeaways
The Global Lymphedema Treatment Market is expected to witness high growth, exhibiting CAGR of 9.9% over the forecast period, due to increasing incidence of lymphedema, obesity, and cancer.
North America dominates the market owing to growing obesity rates, rising cancer incidence, developed healthcare infrastructure, and availability of reimbursement. Asia Pacific shows fastest growth due to large patient population, improving access to healthcare, and increasing healthcare spending.
Key players operating in the lymphedema treatment market are Tactile Medical, Bio Compression Systems, Essity Medical Solutions, Sigvaris Group, Lohmann & Rauscher, Mego Afek, ThermoTek, Medi GmbH, Compressel, Huntleigh Healthcare, JUZO, Bio Horizons, medi UK, ArjoHuntleigh, BSN Medical, Lympha Press, Paul Hartmann, Convatec, Herantis Pharma.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
