Compression Therapy Market
Market Overview
The global compression therapy market in terms of revenue was estimated to be worth $3.7 billion in 2023 and is poised to reach $4.9 billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030.
The new research study is an examination of market industry trends. Industry trends, price analysis, patent analysis, conference and webinar materials, important players, and market buying behaviour are all included in the new research report. The vast patient target population and the rising frequency of sports injuries and accidents are the primary growth drivers for this industry. Furthermore, the manufacturers' strong focus on increasing their compression treatment product offerings is projected to promote market growth. However, poor patient compliance with compression solutions is projected to limit market development throughout the projection period.
Market Dynamics
Driver: Growing incidence of sports injuries and accidents
Road traffic accidents and sports injuries are among the leading causes of death and disability worldwide. Accident cases are often associated with serious or minor injuries of the skeletal system. In such cases, compression therapy products are typically used to support the healing process and promote faster patient recovery.
Globally, an increasing number of people are actively participating in sports and physical activities (due to growing awareness of health and fitness). This trend has, in turn, increased the incidence of sports injuries and injuries related to other fitness activities. In the United States alone, approximately 8.6 million sports injuries are recorded each year (source: US Department of Health and Human Services, 2021 data).
Restraint: Low patient compliance with compression garments
Compression therapy frequently encounters patient non-adherence to compression goods as well as non-adherence to treatment guidelines. Non-adherence is especially common in long-term therapies where the primary purpose is to avoid the emergence of a specific ailment (for example, the formation or return of ulcers). Because compression treatment is often utilised as a preventive therapy in the majority of cases, patient compliance with the therapy declines with time. Additionally, the constant use of compression clothing has been linked to illnesses such as discomfort, edoema, and skin irritation.
Opportunity: Increased sales of off-the-shelf and online products
Some products (such as low pressure compression stockings, bandages and wraps) are increasingly being sold in pharmacies, (off-the-shelf) retailers and e-commerce websites because their use does not require the permission from health professionals. These products are regularly used by patients as a preventive measure to avoid injury.
Increasing sales of compression products through e-commerce websites and off-the-shelf channels in mature markets are expected to provide significant growth opportunities for manufacturers of compression therapy products.
Compression bandages segment accounted for the largest market share of the compression therapy market, by product.
Based on product, Compression bandages, compression wraps, compression stockings, compression bandages, compression pumps, compression splints, and various compression garments are all available on the global market. Compression garments, compression braces, and compression pumps are among the market categories. Compression bandages are predicted to account for the majority of the global market in 2021.
Compression bandages are the initial line of treatment for patients and are used during compression therapy to avoid the recurrence of venous disorders. Rising diabetes incidence, an ageing population prone to venous ulcers, foot ulcers, varicose veins, and edoema, as well as improved compression bandage market availability, are likely to fuel pressure bandage market expansion throughout the forecast period.
Varicose vein treatment segment accounted for the largest market share of the compression therapy market by application.
On the basis of application, Varicose vein therapy, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications are all part of the market. During the projected period, the varicose vein treatment segment accounted for the greatest market share of the worldwide market, with end users favouring compression therapy as the first line of therapy for the treatment and management of varicose veins.
Furthermore, due to the increasing prevalence of varicose veins as well as the increasing prevalence of major risk factors such as age-related degeneration, obesity, and hypertension, the demand for compression therapy products in varicose vein treatment is expected to grow significantly during the forecast period.
The Asia Pacific region of compression therapy market is expected to grow at the highest CAGR during the forecast period
The market is segmented into North America, Europe, Asia Pacific, Latin America, and the Africa and the Middle East. North America is predicted to hold the greatest share of the worldwide market in 2021.
During the predicted period, Asia Pacific is expected to increase the most. This is largely due to the expanding senior population, as well as the substantial incidence of orthopaedic and diabetes-related disorders in this population in Asian nations, particularly China and India.
Furthermore, rising per capita healthcare expenditure in emerging Asian countries, increased localised product manufacturing, and a growing focus of global product manufacturers on expanding their presence in APAC countries all contribute to the growth of the compression therapy market in Asia Pacific during the forecast period.
The major players in the compression therapy market are DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), SanylegS.r.l. (Italy), 3M Company (US), ConvaTec Inc. (US), ArjoHuntleigh (Getinge Group, Sweden), and Julius Zorn GmbH (Germany).
Compression Therapy Market Report Scope
This study categorizes the global compression therapy market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Compression Bandages
- Compression Wraps
- Compression Stockings
- Class I
- Class II
- Class III
- Compression Tapes
- Compression Pumps
- Intermittent Pumps
- Sequential Pumps
- Compression Braces
- Other Compression Garments*
- * Other compression garments include foot caps, arm sleeves, gauntlets, compression shirts & bras, chin straps, face masks, and abdominal gloves
By Technique
- Static Compression Therapy
- Dynamic Compression Therapy
By Application
- Varicose Vein Treatment
- Deep Vein Thrombosis Treatment
- Lymphedema Treatment
- Leg Ulcer Treatment
- Other Applications**
- Other applications include obstetric applications, rehabilitation/preventive care, aesthetic applications, orthopedic applications, and treatment/management of sports injuries.
By Distribution Channel
- Pharmacies & Retailers
- Hospitals & Clinics
- E-Commerce Platforms
- Home Care Settings
By Region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- RoE
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Middle East & Africa
Recent Developments
- In 2023, DJO acquired the EXCYABIR hip brace and the CryoKnee knee brace from Outcome-based Technologies to build its portfolio of bracing solutions, specifically in the fast-growing hip bracing category.
- In 2021, Essity acquired with ABIGO Medical. The acquisition added to the company’s wound care product portfolio.
- In 2021, DJO acquired MedShape, Inc. (US). This acquisition will strengthen DJO’s portfolio of fracture fixation, joint fusion, and soft tissue injury repair products, which utilize biomaterial technologies designed to improve patient outcomes.