Compression Therapy Market Research Report Study by Development Status, Market Dynamics, Opportunities, Challenge and Risk 2023

The global compression therapy market was worth USD 2.72 billion in 2015. Compression therapy involves wearing specially designed bandages, hosiery, socks or stockings, tapes for strengthening the support for veins and thereby increasing the blood circulation in the legs. Compression therapy materials apply gentle pressure to the ankles and legs. It helps in controlling the discomfort and swelling of legs. During the therapy, due to compression, muscular vibration is reduced significantly and delayed muscle soreness is prevented. Compression therapy stockings are manufactured by using elastic apparels. When these garments are used, the compression start at the ankles and then the action gradually moves upwards. Static compression therapy and dynamic compression therapy are the two types of compression therapy. Static compression therapy involves graduated application of compression on limbs with the use of static compression stockings, tubular elastic compression devices and wraps. Dynamic compression therapy involves the use of pumps and sleeves for providing controlled pneumatic external compression or pressure to the limbs. It is done by inflating specially designed garment using compressed air periodically. This method is useful for treating venous ulcer, reducing edema and aiding the return of blood in the veins towards the heart. People suffering from chronic venous diseases find compression therapy as an effective way to heal their condition. People with strained leg veins due to increased pressure are susceptible to chronic venous diseases, as the efficiency of the valves in the blood veins become less and it affects the proper blood flow or reflux. In the end, it can even cause pooling out of blood in the legs. Chronic venous insufficiency is the reason for the majority of the leg ulcer cases globally. Clotting of blood in the veins, gaining of excessive weight, lack of movement of legs for prolonged periods, leg injury, and surgery are some of the factors that cause chronic venous diseases. Compression stockings are available for conditions such as deep vein thrombosis, diabetes, leg ulcer, lymphedema, pregnancy and varicose veins. There are stockings available for sporting and travel requirements as well. Compression therapy is becoming popular among sporting fraternity due to the effectiveness of treatment for muscular, skeletal as well as spinal injuries.

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Market Insights

Globally, the presence of large geriatric population with specific healthcare requirements related to venous or limb ailments is a prime factor that is anticipated to drive the growth of the compression therapy market. Increasing awareness about various venous diseases and injuries, along with the increase in participation in adventure and sporting activities are the major factors driving the growth of the compression therapy market. Compression pumps segment is expected to be the fastest growing segment in the global compression therapy market, due to the increasing number of patients with chronic illnesses related to limbs. Static compression therapy segment accounts for majority of revenue in the global compression therapy. Easier application as well as removal drives the increasing usage of the static compression therapy products. As dynamic compression therapy devices promote better fluid movements and emulate the lymphatic system, they help in faster healing of the wounds. Moreover, it reduces therapeutic cost, due to shorter duration of treatment. Hence, this segment is expected to attain significant growth during the forecast period. The presence of huge number of diabetes patients is expected to drive the growth of the market, as it is an effective treatment for diabetic patients with swollen ankles, legs, or feet. The segment that includes compression garments such as leggings, shirts, and stockings is anticipated to grow significantly during the forecast period. Increasing number of injuries related to adventure and sporting activities are anticipated to enhance the growth of the global compression therapy market. The advanced compression therapy treatment for joints ache and muscle soreness is expected to attract more demand during the forecast period. Increasing number obesity as well as orthopaedic cases is expected to drive the growth of the global compression therapy market. The initiatives taken by clinics, hospitals and other healthcare institutions to store compression therapy garments and devices and utilize for treatments for various medical conditions is anticipated to generate more awareness about the benefits among patients and it is expected to enhance the growth of the global compression therapy market during the forecast period.

Absence of health reimbursement policies related to compression therapy treatment in developed economies is a major restraint for the global compression therapy market. Lack of awareness about the indication of disease or injuries and the benefit of using compression therapy products is expected to be a restraint for the growth of compression therapy market in some regions. Increasing investments and the unmet demand for compression therapy provide opportunity for major players in the emerging and developing economies. Improving the awareness about advanced compression therapy products among physicians and public in non-developed markets is a challenge for the major players to expand further during the forecast period.

Segments Covered:

The report segments the global compression therapy market by product, disease condition, technology and region. The segmentation based on product includes compression pump, compression bandage, compression stocking and compression tape. On the basis of disease condition, the market is segmented as lymphedema, VTE and others. On the basis of technology, the market is segmented as static and dynamic

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Geographic Coverage and Analysis:

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. North American region dominates the global compression therapy market with more than 45% of the market share in 2014-2015.USA drives the North American compression therapy market, due to the increasing instances of obesity and vascular diseases. The presence of a large geriatric population in the region is a major factor in increasing demand for compression therapy products. Increasing instances of anthroplasty surgeries in the region is expected to drive the growth of the market during the forecast period. Europe is the second largest compression therapy market with over 30% global market share. Increasing number of injuries related to adventure and sporting activities among teenage and youth in countries such as France, Germany, Italy, Spain and United Kingdom drives the growth of the compression therapy market in Europe. Increasing investments in the healthcare sector, presence of large geriatric population, increasing number of people with chronic ailments such as diabetes and obesity, and affordability among the young population with disposable income are the major factors that drive the growth of the Asia-Pacific compression therapy Market.

High demand from countries such as China, Japan, India and South Korea enhance the growth of the Asia-pacific compression therapy market. Sports related injuries in South East Asia are expected to be a factor for the growth of the market during the forecast period. Increasing demand for compression therapy treatments and products in the countries such as Brazil and Mexico drives the growth of Latin American compression therapy market. Increasing demand for compression garments is expected to drive the growth of compression therapy market in Middle East. Moreover, the presence of good healthcare facilities is expected to enhance the growth of the market relative to the awareness about the benefits of the compression therapy. Developing countries in Africa are expected to provide opportunity for the major players to target the unmet requirement for various venous, injuries and other limb related illnesses during the forecast period.

Companies Profiled:

The report provides profiles of the companies in the global compression therapy market such as, 3M, BSN Medical GmbH, Medtronic PLC, SIGVARIS, Paul Hartmann AG, Bio Compression Systems, Inc, ArjoHuntleigh, Julius Zorn GmbH, Smith & Nephew PLC, Thuasne SA,

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of compression therapy globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of compression therapy.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the compression therapy market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the compression therapy market to understand the present and future trends in this market and formulate their strategies accordingly.

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