Compression Therapy Market Is Estimated To Reach Around USD 6.5 Billion In 2030 Exhibiting A CAGR Of 6.0% In The Forecasted Period

The global compression therapy market size was valued at USD 4.0 billion in 2021 and is estimated to reach around USD 6.5 billion in 2030 exhibiting a CAGR of 6.0% in the forecasted period. Increase in the prevalence of vein disorders such as lymphedema, leg ulcers, deep vein thrombosis, varicose veins, and blood clots is a high impact factor. Products, specifically stockings and bandages are being gradually used to treat the abovementioned disorders, thus boosting the market growth.

However, the sudden reduction in cattle herd population due to the risen demand of dairy and meat products will restrain the growth of the compression therapy market, although the high cost and chances of viral existence is likely to challenge the growth of the compression therapy market.

Compression therapy is most typically used after operation to reduce swelling and increase leg circulation. Leg activity, such as walking, generally causes regular tightening and reduction of the calf muscles to aid in blood circulation from the lower extremities to the heart. Blood clots can develop when people are immovable for long periods, such as recuperating from surgery. National Blood Clot Alliance stated that 100,000 to 300,000 individuals die from blood clots per year, which is above the total number of people who die from breast cancer, AIDS, and automobile accidents collective.

Medical compression also helps in the decrease of edema and the reproduction of favourable conditions for the cure of acute inflammation illnesses. Ulnar nerve entrapment treatment massage, treatment for compression fracture, fractured spine treatment, and leg compression therapy are some popular treatments present in the market. The increasing number of older adults and sports-related injuries are some of the prime drivers of the global compression market.

The COVID-19 pandemic had a great effect on human life and economic events. The fast spread of the virus and the huge threat that the virus possessed to human life caused in a large number of hospitalizations across several nations. This increase in the number of hospitalized patients had a positive impact on the compression therapy market.

Product Insights

In 2021, compression garments were anticipated to take the dominance in the compression therapy market, and this is majorly owing to the broad usage of compression garments for several causes, including varicose veins, edema, DVT, and lymphedema, and the management of numerous chronic illnesses.

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Technique Insights

Static therapy leads the technique segment in 2022 with a market share of more than 60%, due to the high accessibility and user-friendly qualities of this technology. The substantial share gathered by this segment is attributable to the more accessibility of these products in treating edema and sports-related injuries to permit pain and pressure relief. Advantages related with static technology are also supposed to drive the preference of patients and physicians, thus accounting for a large share. Furthermore, the considerable share bagged by this segment is also supposed to be a significance of the high susceptibility of the increasing diabetic and geriatric population base to the increase of deep vein thrombosis, lymphedema, and chronic venous insufficiency.

Dynamic technology is anticipated to witness faster growth during the forecasted period as a result of the benefits related, considering it a more suitable choice in the future. These advantages include high venous return, external control, and sustained effect.

Region Insights

North American region is predicted to dominate the market in terms of revenue owing to the increasing awareness among the people and attractive reimbursement policies. Growing awareness of venous ulcers, sports injuries, arthritis, and people who have been victims of vehicle accidents are some of the major contributors. In a survey, the National Highway Traffic Safety Administration of the United States Department of Transportation stated an expected 20,160 individuals died in motor vehicle incidents in the first half of 2021, more than 18.4 % from 2020. As traffic accidents in this region rise, compression therapy will be used more regularly during the recovery process, thus boosting market growth in this region.

Asia Pacific is expected to witness a significant growth rate across the forecasted period. The market is grown by high investments in R&D by major players and consistent initiatives to commercialize products at a comparatively lower price. Additionally, increasing disposable income that increases the probability of usage of these products, and constant upgradation of healthcare infrastructure is expected to provide the market with remunerative growth opportunities.

Key Companies Insights

Key players are aiming on their technological partnerships, collaborations, and merger & acquisitions policies to gain a competitive edge and expand their product portfolio & business footmark. The ongoing COVID-19 pandemic hindered the healthcare systems worldwide and driven market players to update products for unexploited prospects. Some of the key players operating in the global compression therapy market include:

· Cardinal Health

· Julius Zorn GmbH

· Hartmann AG

· Medi GmbH & Co.

· SIGVARIS

· BSN Medical GmbH

· ArjoHuntleigh

· 3M Health Care

· Spectrum Healthcare

· Bio Compression Systems, Inc.

· Stryker

· Gottfried Medical

· Other players

Some of the Recent Developments:

· In April 2022, Koya Medical launched the Dayspring active compression device in the United States. Koya developed the Dayspring compression device to treat lymphedema and venous disorders in the lower limbs. It is a soft, breathable mesh garment with Koya's exclusive Flexframe technology, which usages spring-like parts to generate compression.

· In June 2022, Stryker declared the opening of its new research & development facility in India. The 150,000-square-foot facility intends to help accelerate innovation in India and across the globe.

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Segments

By Product Technology

· Static Compression Therapy

· Dynamic Compression Therapy

By Product

· Compression Pumps

· Compression Stockings

· Compression Bandages

· Compression Tape

By Application

· Varicose Vein Treatment

· Deep Vein Thrombosis Treatment

· Lymphedema Treatment

· Leg Ulcer Treatment

· Others

By Distribution Channel

· Clinics and Hospitals

· E-commerce platforms

· Retailers and Pharmacies

· Homecare

Key Points:
Define, describe and forecast Compression Therapy product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

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