Compression therapy helps in improving blood flow to the ankles, feet, and lower legs. It is used to treat swelling and pain caused by circulatory disorders such as varicose veins and chronic venous insufficiency. Elastic stockings or wraps are frequently used in which the elastic compresses legs, ankles, and feet. This aids in preventing fluid and blood buildup and blood pooling in certain locations.
In 2021, the market value of compression therapy was worth USD 2.98 billion, and by 2030 it will be worth USD 4.71 billion, expanding at a 5.2% CAGR during the forecast period.
Key Factors boosting the market expansion rate are the rapidly growing geriatric population, rising orthopedic operations due to the rising number of accidents, and the growing rate of injuries and accidents related to sports.
Significant factors driving the market growth are:
- The rising prevalence of sports injuries and auto accidents.
- Technical developments in wound treatment.
- Growth in the development of preventative and rehabilitative care.
For instance, a study published in May 2021 by the IJERPH found that 44% of the study’s participating adolescent athletes were injured in Spain. Ankle sprains (11.98%), bone fractures (9.31%), and lumbar muscle strains (12.24%) were the most frequent injuries. The most common injury sites were the shoulders (6.47%), knees (19.32%), and ankles (36.12). Compression therapy is utilized in all these kinds of injuries to improve body movement and blood flow during treatment.
Individuals in underdeveloped nations are unaware of conditions like lymphedema that could restrict or impede the expansion of this sector. However, the market’s expansion may be hampered by an ineffective remuneration plan for compression gear and therapeutic clothing.
The market for compression therapy devices will expand due to emerging economies like China, Mexico, Brazil, and others like India. Elements including a larger patient population, an increase in disposable income, improved health infrastructure, and greater knowledge will significantly impact the growth rate of this industry. By 2040, all emerging countries will gain $4.4 trillion, or a 7% increase in GDP.
On the basis of product, the market for compression therapy is segmented into compression pumps, compression garments, and compression braces.
In 2022, the compression braces segment led the entire market with a significant revenue share. One of the main drivers of this market’s growth is the increasing need for athletic-specific sleeves, gloves, stockings, and other clothing. Athletes who experience CVI, DOMS, or muscular tiredness can continue their exercise unhindered because these garments are easy to put on in the affected area.
By Distribution Channel
In terms of distribution channels, the compression therapy market is segment into retailers and pharmacies, clinics and hospitals, e-commerce platforms, and others.
The hospital segment ruled the market due to the rising implementation of compression therapy and the growing rate of hospitalization.
On the basis of technique, the compression therapy market is segment into dynamic therapy and static therapy.
In 2022, the static therapy segment led the market with the largest revenue share. The largest share is due to the growing popularity of static therapy because it is broadly available, has reduced costs, and is easy to use. Additionally, Patients can also utilize these devices while working, which will increase demand for athletes and fitness professionals.
In terms of application, the compression therapy market is segment into leg ulcer treatments, lymphedema treatments, deep vein treatments, and varicose vein treatments.
The lymphedema segment was the biggest market contributor, with a significant revenue share in 2022. The significant share is due to the rising incidence of lymphedema and the high demand among end users for compression therapy devices to treat and manage lymphedema.
In 2022, North America was the largest market contributor, with a share of nearly 45.80% and USD 1.3 billion in revenue. The largest revenue share is due to the rapidly growing geriatric population and rising rate of obesity. The availability of advantageous government reimbursement programs and rising healthcare awareness are also important growth drivers. Furthermore, a significant element boosting the market’s expansion in this region is the expanding prevalence of chronic vein illnesses (CVD). For instance, a research report from 2022 claims that CVD is a significant health issue in Western nations and that adult population prevalence ranges from 5 to 30%.
Asia Pacific will experience a profitable growth rate. The market expansion is drive by expanding R&D investment by key players and continuous efforts to commercialize goods at a less cost.
- Spectrum Healthcare
- Medtronic plc
- 3M Company,
- Bio Compression Systems Inc.
- Colfax Corp.
- Smith & Nephew plc,
- Paul Hartmann AG
- Sigvaris Management AG
- Gottfried Medical Inc
- BSN Medical GmbH
- Tactile Systems Technology Inc.
In 2021, the market value of compression therapy was worth USD 2.98 billion, and by 2030 it will be worth USD 4.71 billion, expanding at a 5.2% CAGR during the forecast period. Factors stimulating market growth are the rise in sports-related injuries, the prevalence of chronic venous insufficiency (CVI), and the ongoing shift of treatment facilities from hospitals and clinics to homes.