Press release
The next decade sees the Compression Therapy Devices Market spreading its digitized wings, reaching US$ 5.1 Bn
The global compression therapy devices market is valued at US$ 3 Bn in 2021, and is expected to expand at a CAGR of 5.3% from 2021 to 2031, to amount to US$ 5.1 Bn by 2031.
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Compression therapy is a procedure entailing the delivery of an external force to tired and aching legs and other relevant anatomical targets where compression is required for management. This therapy is used to treat venous and lymphatic diseases such as lower limb edema, venous eczema, deep vein thrombosis, and diabetic foot ulcers.
Globally, the market for compression therapy is witnessing significant growth due to the increasing prevalence of diabetes, growth of the aging population, high incidence of sports injuries, rising awareness about various venous diseases, and the advanced features of compression therapy garments and devices.
Company Profiles:
SIGVARIS.
BSN medical GmbH.
PAUL HARTMANN AG.
Julius Zorn GmbH.
ArjoHuntleigh.
THUASNE.
Smith & Nephew plc.
medi GmbH & Co. KG.
Medtronic plc.
Other.
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However, inadequate reimbursement policies and the risk of complications associated with compression therapy systems inhibit the growth of the market. North America dominates the compression therapy devices market due to increasing numbers of sports injuries in the region.
For instance, according to Safe Kids Worldwide, a global organization dedicated to preventing injuries in children, every year about 1.3 million cases of sports injuries among youngsters are registered in the U.S. Increasing prevalence of diabetes, aging population, and rising obesity are also supporting the growth of compression therapy devices market in North America.
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The compression therapy devices market in Europe is growing due to rising incidence of sports injuries in the region. According to the European Injury Database (IDB), approximately 4.5 million people above 15 years of age are treated in hospitals for sports injuries every year in the region.
In addition, increasing the prevalence of diabetes and the growth of the aging population are also supporting the growth of the compression therapy devices market in Europe.
Asia is the fastest-growing region in the compression therapy devices market. According to the Asian Federation of Sports Medicine (AFSM), a part of International Federation of Sports Medicine (FIMS), on average 21,334 sports injuries occur every year in the region. Moreover, a growing aging population and increasing prevalence of diabetes are also supporting the growth of the compression therapy devices market in the region.
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Market Segmentation:
By Product Segment
Static Compression Therapy
Dynamic Compression Therapy
By Static Compression Therapy
Compression Bandages
Compression Garments
Diabetic Shoes
Others
By Dynamic Compression Therapy
Non-Segmented Pneumatic Pumps
Segmented Pneumatic Pumps
Others
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