Compression Devices Market Outlook, Trend, Growth and Share Estimation Analysis

Compression Devices: Introduction

Compression therapy is a medical procedure in which external pressure is applied to the skin and underlying structure (organ) to promote normal flow of venous blood in the body. Compression therapy is recognized as a gold standard for the treatment of lymphedema, chronic venous insufficiency, and deep vein thrombosis as it is easy-to-use, safe, and provides effective treatment in a short time span.

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Compression therapy is the primary intervention for prevention and management of venous hypertension, venous edema, and venous leg ulcers. The therapy increases venous and lymphatic fluid in the limb with the utilization of an external force.

In addition, rapidly increasing lymphedema and deep vein thrombosis cases would boost global demand for compression devices. However, lack of favorable reimbursement and transmission of post-operative infection associated with compression devices are likely to restrict market growth during the forecast period.

Technological advancements coupled with increase in demand for better healthcare facilities are expected to trigger the growth of the global compression devices market.

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Key Drivers and Restraints of Global Compression Devices Market

Rising Sports Injuries Boost Demand for Compression Devices Market

Compression devices are frequently used by athletes and sports persons as these reduce muscle pain, increase mobility, and enhance athletic performance. The most common causes of sports injuries are competitive, recreational, or obligatory (physical education) activities.

According to the Centers for Disease Control and Prevention (CDC), high school athletes alone account for 2 million injuries, 50,000 doctor visits, and 30,000 hospitalizations in the U.S. each year

Ankle joint sprain, knee ligament injury, spinal straining, bone fracture, and shoulder sprain are commonly observed sports injuries among athletes in the U.S. Compression devices provide immediate and effective treatment for these sports injuries.

Hence, health care professionals (chiropractors and physiotherapists) extensively utilize these products for both amateur and professional sport patients and their regular clinic patients. Therefore, increasing number of sports injuries and growing preference by health care professionals are anticipated to increase the demand for compression devices during the forecast period.

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Lack of Favorable Reimbursement Policies Restricts Market Growth

Unfavorable reimbursement policies have played a crucial role in the compression devices market in the past few years. The treatment of vascular diseases with compression devices is expensive and requires large amount of money for follow-ups and monitoring of treatment.

Hence, reimbursement is considered as an essential aspect of the treatment. The Centers for Medicare and Medicaid Services (CMS) provides reimbursement only to patients who have undergone a four-week trial of conservative therapy before opting for intermittent pump.

Moreover, private insurers are adopting these reimbursement restrictions for compression devices to treat vascular disease. This factor is more prominent in developing countries such as India, China, Brazil, and Mexico due to low affordability to purchase highly expensive brand new compression devices. Thus, unfavorable reimbursement policies would restrain market growth during the forecast period.

Intermittent Compression Devices Segment to Dominate Global Market

In terms of application, the global compression devices market can be classified into pain control, lymphedema, deep vein thrombosis, and others

Based on product type, the global compression devices market can be categorized into intermittent compression devices, sequential compression devices, and others

Based on end-user, the global compression devices market can be divided into hospitals, rehabilitation centers, and others.

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North America to Dominate Global Compression Devices Market

In terms of region, the global compression devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

North America is expected to dominate the market for compression devices. Increasing prevalence of vascular diseases such as venous ulcers, lymphedema, and deep vein thrombosis; and rising demand for various advanced compression devices propel the market in the region.

Europe comprises major countries such as Germany, France, the U.K., Spain, and Italy, along with other countries. The geriatric population is more prone to venous disease due to reduced immunity and longer stay in hospitals, as wound healing is slow in elderly people. The European Commission (Eurostat) has estimated that the geriatric population in Europe would reach 525 million by 2035. The British Geriatric Society stated that apart from the geriatric population, a number of medical conditions such as diabetes mellitus and cardiovascular disease are also associated with cardiovascular disease.

This large and increasing elderly population would contribute significantly to the number of surgeries performed due to their higher susceptibility to various chronic as well as acute disorders. Hence, increasing geriatric population boosts the demand for compression devices in Europe.

Leading Players Operating in Global Compression Devices Market

The global compression devices market was highly fragmented in 2019. Key players operating in the global compression devices market are:

Getinge AB

3M

Bio Compression Systems, Inc.

BSN medical

Medtronic

Terumo Corporation

Teleflex Incorporated

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