Lymphedema treatment aims to manage lymphedema, a long-term swelling that often occurs in the arms, legs, neck, or other parts of the body due to blockage in the lymphatic system. Products used in lymphedema treatment include compression garments, bandages & tape, lymph drainage devices, and exercise machines. The increasing prevalence of chronic diseases such as cancer that can damage lymph nodes and vessels is driving the need for effective lymphedema treatment.
The global Lymphedema Treatment Market is estimated to be valued at US$ 2.29 Bn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising cases of chronic diseases such as cancer is a major driver of the lymphedema treatment market. According to the American Cancer Society, in 2023 around 1.9 million new cancer cases will be diagnosed in the United States. Cancer treatment such as surgery, radiation, and chemotherapy often damages lymph nodes and vessels. This in turn increases the risk of lymphedema development. For instance, breast cancer treatment has been associated with lymphedema in the arm in around 20-30% of cases. Growing cancer prevalence is thus expected to augment the demand for effective lymphedema treatment options such as compression garments, pumps, and complex decongestive therapy over the forecast period.
SWOT Analysis
Strength: The lymphedema treatment market is witnessing high growth owing to rising prevalence of lymphedema disorders. Increase in awareness regarding early diagnosis and available treatment options also boost the market.
Weakness: High cost associated with lymphedema treatment therapies and surgical procedures can limit wider adoption. Lack of skilled medical professionals in some regions poses a challenge.
Opportunity: Untapped growth potential in developing nations presents an opportunity for market players. Novel therapies and development of more efficient treatment options will fuel the market growth.
Threats: Reimbursement issues especially in developing countries can hamper market growth. Side effects and risks associated with few therapies also threaten the market.
Key Takeaways
Global Lymphedema Treatment Market Size is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: North America is projected to dominate the market during the forecast period. High awareness levels regarding lymphedema disorders and availability of advanced treatment options are key factors driving the regional market growth.
Key players operating in the lymphedema treatment market are Walmart Inc., Under Armour, Inc., Givex Corporation, American Express, Target Brands, Inc., Best Buy, Starbucks Coffee Company, PayPal Holdings, Inc., Apple Inc., Sephora USA, Inc., Gyft, Inc., Walgreen Co., TransGate Solutions, AMILON S.R.L., Jigsaw Business Solutions, Diggecard, Pine Labs Private Limited, Alltimeprint.com, Plastek Card Solutions, Inc., Card USA, Inc., Duracard, Blackhawk Network, Tango Card. Inc, Stockpile, Inc., and Huuray A/S among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it