USD 3.89 billion
Report ID: SQSG35G2019 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 62 | Figures: 75
Compression Therapy Market size was valued at USD 3.89 billion in 2021 and is poised to grow from USD 4.14 billion in 2022 to USD 6.68 billion by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).
It is recommended to start compression therapy right away after an injury. In order to enhance muscle health, raise blood circulation throughout the body, and avoid the coagulation of fluids in the tissue space following accidental injuries, compression pumps and tapes are used. As a result, this therapy is being used more frequently to decrease swelling and inflammation after an injury or trauma.
The adoption rate of compression therapy is increasing as a result of the increase in orthopaedic surgeries. Compression therapy demand is also being driven by an increase in the prevalence of venous problems and an ageing population. Compression therapies are becoming more popular as a result of patients' increasing understanding of their available treatment alternatives. Additionally, the demand for items used in compression therapy is growing as a result of rising technical improvements.
Dissection of lymph nodes is a common component of cancer treatment, particularly for breast and prostate tumours. This interferes with the body's lymphatic system's filtration process. As a result, lymph fluid builds up and results in lymphedema, a severe swelling of the tissues or limbs. According to the National Institutes of Health, there are over 250 million people who have this illness worldwide. Compression therapy is one of the most often used lymphedema treatment methods, and as the prevalence of this ailment rises, so will the demand for these therapies.
US Compression Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.89 billion
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Compression Therapy Market is segmented based on Product, Technique and Region. Based on Product Compression Therapy Market is segmented into Compression Pumps, Compression Garments, Compression Braces. Based on Technique Compression Therapy Market is segmented into: Static Compression Therapy , Dynamic Compression Therapy. Based on region Compression Therapy Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Compression Therapy Market Analysis by Product
Compression pumps, compression garment, and compression braces comprise three product segments that make up the global market for compression therapy. Compression bandages and wraps, compression stockings, and other compression garments are other categories of compression apparel. The market segment with the biggest estimated share belongs to compression garment. This is mostly due to the usage of compression garment for a variety of purposes, including the treatment of various chronic illnesses and the management of varicose veins, edoema, DVT, and lymphedema. Compression apparel's expanding use in sports medicine is another factor driving the segment's expansion. Due to the increasing frequency of chronic venous disorders, the rising incidence of cancer, and the increasing number of hip and knee replacement operations worldwide, compression pumps are projected to be the compression therapy market's fastest-growing product segment.
Compression Therapy Market Analysis by Technology
The technological market was dominated by static compression therapy because of its high level of ease and user-friendliness. Due to these goods' better accessibility in the treatment of edoema and sports-related injuries to enable pain and pressure alleviation, they account for a significant position in this market.
Furthermore, it is assumed that the sizeable market share held by this sector is due to the increasing risk of lymphedema, deep vein thrombosis, and chronic venous insufficiency among the growing diabetic and geriatric population base. Additionally, there are groups that are always working to raise awareness of its applicability in particular circumstances.
Due to its advantages, such as external control, high venous return, and prolonged effect, dynamic compression therapy is anticipated to experience exponential growth throughout the course of the forecast period. Additionally, groups continuously work to raise awareness of its applicability in particular circumstances.
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North America is anticipated to hold the greatest market share for compression therapy in 2021. This is mostly due to the increase in orthopaedic and spinal operations, the rise in lymphedema, varicose veins, and DVT cases, the frequency of sports injuries, and the existence of several compression therapy product producers in the area.
According to Safe Kids Worldwide, a global organisation devoted to preventing child injuries, there are over 1.3 million incidents of sports-related injuries among children recorded each year in the United States. Compression therapy will be employed more frequently during the recovery phase as traffic accidents rise in this area, resulting in market expansion. The North American market for compression therapy devices is estimated to be valued US$ 1.3 billion and grow at a CAGR of 5.6% over the following few years.
In addition, it is anticipated that the rise in the obese population and the growing occurrence of diabetes would increase demand for compression gear, which will in turn propel the market for compression therapy devices in the years to come.
Due to the increased spending on R&D by prominent key players, Asia-Pacific is predicted to experience considerable growth in the compression therapy market. In the upcoming years, it is also projected that ongoing efforts to commercialise goods at a reduced cost will fuel the expansion of the compression therapy market in the region.
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The main competitors in the compression therapy market are concentrating their efforts on expanding their worldwide and regional customer bases through acquisitions, mergers, and expansions. Companies in the compression therapy market use acquisition, regulatory clearances, and the introduction of new products as their main strategies. Key businesses are focusing their efforts on the creation of advanced and affordable products as well as on distribution deals to broaden their market reach, notably in Asia Pacific. In our Compression Therapy market reports, some of the leading Compression Therapy players are as follows: medi GmbH & Co. KG (Germany), Medtronic plc (Ireland), SIGVARIS GROUP. (US), Juzo (Germany), PAUL HARTMANN AG (Germany), 3M (US), Spectrum Healthcare. (India), BIOCOMPRESSION SYSTEMS (US), Gottfried Medical, Inc. (US), BSN medical (Germany), Arjo. (Sweden), DJO, LLC (US), Tactile Medical (US), SANYLEG SRL a socio unico (Italy), Cardinal Health. (US), Devon Medical Products (US), THUASNE SAS (US), ACI Medical, LLC (US), Ofa Bamberg GmbH (Germany), Mego Afek A.C. ltd. (Israel), Medline Industries, Inc. (US)
Compression Therapy Market Top Players Company Profiles
Compression Therapy Market Recent Developments
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According to our analysis, by product, the compression garments segment is estimated to have the largest share of the market as compression garment is being used more frequently by doctors to treat conditions like lymphedema, venous leg ulcers, gravity eczema, varicose veins, and deep vein thrombosis.e. The technological market was dominated by static compression therapy segment because of its high level of ease and user-friendliness. Region-wise, the North America had dominated the market, followed by Aisa Pacific.
|Market size value in 2021||USD 3.89 billion|
|Market size value in 2030||USD 4.14 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Compression Therapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Compression Therapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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