Compression Therapy Market to achieve CAGR of 6.3% from 2023 to 2032, owing to the rising number of sports injuries and accidents | insightSLICE
The global Compression Therapy market size was estimated to be US$ 3.95 billion in 2021 and is expected grow at a CAGR of 6.3% between 2023 to 2032.
Compression therapy involves putting on stockings, socks, or other elastic clothing to support and contain veins to enhance blood flow in the legs.
Circulation is improved, which reduces swelling and pain in the legs and restores normal leg function. Compression stockings can stop venous stasis and walk impairment by reducing vein cavities and venous pressure.
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Compression therapy increases blood flow and the effectiveness of the lymphatic and venous systems by applying regulated pressure to the lower limbs. It is the most well-known and crucial form of care for venous and lymphatic illnesses.
The key factors most likely to propel the Compression Therapy Market growth over the forecast period include the rising prevalence of vein disorders like venous leg ulcers, lymphedema, deep vein thrombosis, and the growing geriatric population, and the rising use of pressure therapies to treat these vein disorders.
The key players of the Global Compression Therapy Market are:
The leading companies in the market are Sanyleg S.R.L., Cardinal Health, Sigvaris, 3M Company, Medi GmbH & Co. Kg, Smith & Nephew, Paul Hartmann AG, Medtronic PLC, Bio Compression Systems, BSN Medical.
Driving factors for the growth of Global Compression Therapy Market
Compression therapy is anticipated to have many new innovations throughout the projected period, driving market expansion. Traditional treatment options like single-component compression systems have been replaced by multi-component, bi-layer advanced compression therapy systems.
The multi-component system comprises a crepe layer, wool padding, an elastic bandage, and a cohesive elastic bandage. The interface pressure beneath the bandages increases with each additional layer of compression, making multiple systems superior and more effective than single-component systems.
Additionally, an increasing number of the market’s leading companies are focusing on developing sophisticated compression therapy systems with improved efficacy.
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The adoption rate of compression therapy is increasing due to the increase in orthopedic surgeries. Patients with vascular disorders and lifestyle-related illnesses like obesity, diabetes, lymphedema, DVT, and varicose veins are the main users of compression therapy products.
Due to the growing elderly population’s high propensity for chronic venous diseases, this age group is recognized as a market driver for compression therapy. These elements influence patient demand for and uptake of various therapeutic modalities, including compression therapy.
Additionally, improvements like inelastic boots and portable intermittent pumps are likely to improve patient compliance and efficacy, resulting in greater usage of this therapy.
Global Compression Therapy Market Key Segments:
By Product
- Compression Garments
- Compression Bandages
- Compression Stockings
- Compression Class I
- Compression Class II
- Compression Class III
- Others
- Compression Braces
- Compression Tapes
- Compression Pumps
By Technology:
- Static Compression Therapy
- Dynamic Compression Therapy
By Application
- Varicose Vein Treatment
- Deep Vein Thrombosis Treatment
- Lymphedema Treatment
- Leg Ulcer Treatment
- Others
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
The leading market segments of Global Compression Therapy Market
Compression clothing was anticipated to dominate the compression therapy market in 2021, mostly because it is commonly used to treat various conditions, such as varicose veins, edema, DVT, and lymphedema, as well as to manage a number of chronic illnesses.
Based on distribution channels, the hospital segment is anticipated to hold the largest share of the market due to the growing usage of compression therapy and rising hospitalization rate.
Additionally, the Homecare segment is anticipated to experience the highest CAGR growth by 2026 due to the continuous rise in the number of older adults and the current environment, which is encouraging more people to receive their treatment at home, such as Guyon’s canal syndrome treatment with cold compression therapy.
Based on Techniques, Static Therapy dominated the compression therapy industry because of its simplicity and convenience. The market increased rapidly and gained the highest share due to its capacity to cure sports injuries and edema to relieve pain.
Varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications make up the market’s application-based segmentation.
The lymphedema treatment market is anticipated to expand at the fastest CAGR during the anticipated period due to the rising likelihood of lymphedema and end users’ strong preferences for compression therapies for treatment and management.
Diseases of the lymphatic and venous systems are becoming more common everywhere. Pregnancy, obesity, deep vein thrombosis in the past, varicose veins, and immobility are some risk factors that might lead to the development of these conditions. Lymphatic issues can also result from procedures, chronic venous insufficiency, and breast cancer.
As a result, market growth will likely be fuelled by growing awareness of innovative treatments, such as compression clothing and other devices, and the rising prevalence of these conditions.
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Regional performance of Compression Therapy Market
In 2021, North America accounted for 41.0% of the global market. The rise in this region’s proportion over the previous years can be attributed to the rise in older individuals and obesity.
The availability of beneficial government reimbursement programmes in this area and growing public awareness of healthcare issues are additional significant development drivers.
The increased prevalence of chronic vein problems is another important element driving the market’s growth in this area (CVD).
Asia Pacific is likely to experience profitable growth throughout the entire anticipated timeframe. Key competitors’ considerable R&D investments and relentless efforts to commercialize products at significantly lower costs drive the market.
Limiting factors for growth of Compression Therapy Market
Compression therapy has to be better understood as a viable alternative for treating lymphatic and venous issues in many developing countries, which is anticipated to restrain the market growth. Another significant impediment to the market’s growth is the high price of compression pumps.
In the years to come, expansion chances are projected to be aided by rising efforts by major companies to increase consumer awareness of the market’s availability of this therapy for the treatment of lymphedema and venous leg ulcers, among other conditions. These elements are putting further pressure on prices and boosting competitiveness.
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