Compression Therapy Market
Number of pages: 100 | Report Format: PDF | Published date: June 22, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 4.25 billion |
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Revenue Forecast in 2031 |
US$ 7.23 billion |
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CAGR |
6.09% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Products, Technology, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global compression therapy market was valued at US$ 4.25 billion in 2022 and is expected to register a revenue CAGR of 6.09% to reach US$ 7.23 billion by 2031.
Compression Therapy Market Fundamentals
Compression therapy is a therapeutic technique used in medical and healthcare settings to improve circulation, reduce swelling, and manage various conditions related to venous and lymphatic systems. It involves the application of external pressure to the affected body part using specially designed garments or devices. The main goal of compression therapy is to promote blood flow and prevent fluid buildup in the extremities, particularly the legs, and arms. It is commonly used to treat chronic venous insufficiency, lymphedema, deep vein thrombosis, and post-thrombotic syndrome. Compression therapy works by applying graduated pressure, meaning that the pressure is highest at the extremity (e.g., foot or hand) and gradually decreases as it moves upward toward the body. This helps to improve blood circulation by assisting the veins and lymphatic vessels in transporting blood and fluids back toward the heart.
Compression Therapy Market Dynamics
Chronic venous diseases, such as venous insufficiency, deep vein thrombosis, and varicose veins, are becoming more prevalent globally. These conditions often require compression therapy as a standard treatment option, driving the demand for compression garments and devices, thus boosting the compression therapy market. For instance, according to the Centers for Disease Control and Prevention’s estimates of February 2023, 60,000-100,000 Americans die of deep vein thrombosis. Moreover, there is an increasing focus on raising awareness about the benefits of compression therapy among healthcare professionals and patients. Education programs and initiatives contribute to improved understanding and acceptance of compression therapy, leading to its wider adoption. The compression therapy market has witnessed technological advancements in garment design, material innovations, and compression device technologies. These advancements have led to the development of more comfortable, effective, and user-friendly compression products, driving the growth of the global compression therapy market. Compression therapy offers a non-invasive treatment option for various conditions, especially appealing to patients seeking alternatives to surgery or medication. The preference for non-invasive treatments is driving the demand for compression therapy products.
However, compression garments and devices can be relatively expensive, particularly those with advanced features or customized designs. The cost of compression therapy products may limit their affordability for certain individuals, especially in regions with limited healthcare resources or low-income populations. Alternative treatment modalities are available for certain conditions that compression therapy aims to address. These alternatives, such as surgical interventions, medication, or physical therapy, may compete with compression therapy and influence treatment decisions. Additionally, High costs, concerns about data security, and a lack of trained professionals are some restraints impeding the overall market growth.
Compression Therapy Market Ecosystem
The global compression therapy market is analyzed from the following perspectives: products, technology, application, and region.
Compression Therapy Market by Products
Based on the products, the global compression therapy market is segmented into compression bandages, compression pumps, compression stockings, and compression tape.
The compression bandages segment dominated the market with a principal revenue share of 41.8% in 2022. The compression bandages offer an effective and versatile form of static compression therapy. Compression bandages are widely used to treat various conditions, including venous insufficiency, lymphedema, and managing acute or chronic wounds. Compression bandages are elastic wraps made from cotton, nylon, or polyester materials. They are designed to provide graduated compression, meaning the pressure is highest at the distal end (farthest from the heart) and gradually decreases as the bandage is wrapped proximally. This pressure gradient helps facilitate venous return and lymphatic flow, reducing edema and promoting circulation. Compression bandages allow for the customization of compression levels by adjusting the tension during application. This flexibility is particularly beneficial in managing fluctuating swelling or wounds requiring varying degrees of compression. Compression bandages can be easily molded to the shape of the body part being treated, ensuring a snug and comfortable fit. This promotes effective compression and minimizes the risk of slipping or loosening. Compression bandages are often considered a cost-effective option for compression therapy, especially in cases where frequent changes or adjustments to compression levels are necessary. These aspects contribute to the growth of the compression bandages segment.
Compression Therapy Market by Technology
Based on the technology, the global compression therapy market is segmented into dynamic compression therapy and static compression therapy.
The static compression therapy segment dominated the market with a maximum revenue share of 63.6% in 2022, attributed to the technology's great convenience and user-friendliness. Static compression therapy is a specific type of compression therapy used to treat various medical conditions, particularly those related to venous insufficiency, edema, and chronic wounds. Unlike dynamic compression therapy, which involves intermittent or sequential compression, static compression therapy applies constant pressure to the affected area. Static compression therapy typically involves using compression garments such as stockings, sleeves, or bandages. These garments are made from elastic materials that exert continuous and consistent pressure on the underlying tissues. The compression level is determined based on the individual's condition and can range from mild to high, as measured in millimeters of mercury (mmHg). The main purpose of static compression therapy is to improve venous and lymphatic circulation, reduce edema (swelling), and promote wound healing. The continuous pressure exerted by compression garments aids in reducing fluid buildup in the tissues, relieving edema associated with venous or lymphatic disorders. These factors contribute to the growth of the static compression therapy segment.
Compression Therapy Market by Application
Based on the application, the global compression therapy market is segmented into lymphedema, venous leg ulcers, deep vein thrombosis treatment, and others.
The lymphedema segment accounted for a top revenue share of the market in 2022 due to the increased occurrence of lymphedema and the growing acceptance of sophisticated devices for its treatment. For instance, according to the WHO’s factsheet of June 2023, lymphatic filariasis continues to harm over 882 million individuals in 44 countries worldwide, necessitating preventative treatment to halt the spread of this parasitic infection. Lymphedema is a chronic condition characterized by the accumulation of lymphatic fluid in the tissues, leading to swelling, discomfort, and functional impairment. It occurs when the lymphatic system, responsible for draining fluid and waste products from the body, is compromised or damaged. Lymphedema commonly manifests as persistent swelling, usually in the arms or legs. The affected limb may feel heavy, tight, or achy. Reduced mobility, skin changes, recurring infections, and discomfort are also observed in some cases. Compression therapy is a cornerstone of lymphedema management. It involves using compression garments, such as compression sleeves, stockings, or bandages, to apply external pressure on the affected limb. Compression helps to reduce swelling, improve lymphatic flow, and prevent further fluid accumulation. These factors contribute to the growth of the lymphedema segment.
Compression Therapy Market by Region
Geographically, the global compression therapy market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global compression therapy market with the largest revenue share of 41.5% in 2022, attributed to the increasing burden of chronic vein disorders, growing healthcare awareness, and advancement of technology. For instance, according to an article published by ScienceDirect, chronic venous insufficiency affects more than 25 million individuals in the United States alone, with an additional 6 million suffering from advanced venous diseases. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions, which are also expected to improve the compression therapy market outlook.
Compression Therapy Market Competitive Landscape
The prominent players operating in the global compression therapy market are:
Compression Therapy Market Strategic Developments
Compression therapy is a therapeutic technique used in medical and healthcare settings to improve circulation, reduce swelling, and manage various conditions related to venous and lymphatic systems.
The global compression therapy market was valued at US$ 4.25 billion in 2022.
The estimated market size of the global compression therapy market in 2031 is US$ 7.23 billion.
The revenue CAGR of the compression therapy market during the forecast period will be 6.09% from 2023 to 2031.
Some key companies operating in the global compression therapy market are Medi GmbH & Co., Sigvaris Group, Arjo AB, 3M Company, Spectrum Healthcare, Bio Compression Systems, Inc., Stryker Corporation, and Gottfried Medical Inc.
*Insights on financial performance are subject to the availability of information in the public domain