Disclosed herein are compression bandages that include one or more fluid bladders (such as an air bladder) disposed in or on a bandage, such as an elastic bandage. In various embodiments, the one or more bladders may be adapted to apply focused pressure to a wound site, for example where direct pressure is required in order to stop or slow bleeding. In various embodiments, such a fluid bladder may permit sufficient pressure to be applied where needed, while also preventing the over-application of pressure to other tissues in proximity to the wound.