Compression Therapy Market to Surpass Reach US$ 4.59 Billion by 2030 Due to Availability of Alternative Therapies Worldwide
The global Compression Therapy Market is anticipated to augment at a robust CAGR of 5.4% across the valuation period from 2022 to 2030. The global market reached a revenue of US$ 3.01 Billion in 2022 and is predicted to surpass a revenue of US$ 4.59 Billion by 2030. According to the historical analysis conducted by Future Market Insights, the global compression therapy market registered a CAGR of 4.8% from 2015 to 2021.
The growth in the market is destined due to a significant increase in lymphoma, deep vein thrombosis, leg ulcers, varicose veins, and blood clots in the previous several years. According to the National Center for Biotechnology Information, chronic vein anomalies affect over half of the world’s population. Furthermore, compression therapy at present accounts for a 16.9% market share in the global physiotherapy services market. The market for compression therapy is predicted to rise due to the growing incidence of venous ulcers and other vein diseases across the world.
The market showcased a drop in the BPS values attributed to poor therapy compliance and outcomes. Owing to the presence of frequently reported adverse events related to compression therapy, which comprises skin irritation, soft tissue and nerve injury, and pain and discomfort.
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These factors are responsible for a slight dip in the global compression therapy market. Several manufacturers of products centered on compression therapy aim to improve adherence through innovative and patient-centric products. Furthermore, these products comprise of wearable compression systems, which will propose a positive growth outlook for the market, in terms of sales. The market is subjected to numerous changes according to the macro and industrial standards. On the basis of device regulations and product and procedural adoption rates. Sequential compression has been found to produce results in a matter of hours every day, compared to other options that take 12 to 48 hours to get the same outcome.
The most commonly used compression therapy products comprise bandages and stockings. Compression works phenomenally in orthopedic procedures for pain relief, edoema reduction, and faster functional recovery. These foregoing advantages account for the high penetration of compression therapy products in the management of musculoskeletal problems following orthopedic surgeries. At present, compression garments are also visible in sports medicine. Additionally, compression therapy is widely utilized to reduce edoema and inflammation following a trauma or injury. Several other applications consist of promoting mental health by allowing blood circulation and reducing fluid clotting within the tissue area. Intraoperative sequential compression device systems are employed particularly when laparoscopic surgery is performed. The main goal is to prevent pneumoperitoneum from causing altered venous blood return through the lower extremities which leads to cardiac depression.
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Key Takeaways
- The rising prevalence of diseases such as venous leg ulcers and lymphedema is driving market growth. However, one of the main compression therapy market trends has been noted as product innovation and expanding use as an effective treatment choice. This treatment has been clinically proven to shorten the time it takes for a venous leg ulcer (VLU) to heal and reduce the rate of recurrence.
- The global incidence of lymphatic and venous diseases is on a drastic surge. Immobility, prior deep vein thrombosis, pregnancy, obesity, and varicose veins are all variables that contribute to the development of these illnesses. Lymphatic problems are also caused by conditions such as chronic venous insufficiency, breast cancer, and operations.
- As a result, market growth is expected to be fuelled by the rising frequency of chronic disorders and increased awareness of innovative therapies such as compression garments and other products.
Competitive Landscape
Primary compression therapy product competitors are concentrating on growing their global and regional consumer base with the assistance of acquisitions, mergers, and expansions. Primary tactics for companies in the compression therapy market are new product innovation and launches, regulatory clearances, and acquisition.
Major companies in the global compression therapy market are focusing their efforts on the overall development of innovative and cost-effective products, as well as distribution agreements to expand their geographic reach, particularly in Asia Pacific. Furthermore, firms are developing production operations in Asia in order to lower manufacturing costs.
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More Insights into the Compression Therapy Market
The North American region is anticipated to dominate the global compression therapy market over the assessment period, The U.S. has the world’s 12th highest obesity rate at 36.2 %, and obesity rates vary greatly among states, ranging from 23 % to 38.10 %, according to worldpopulationreview.com. As the obesity prevalence rises, so does the demand for products like compression garments and systems that aid in the prevention of the diseases that come with it also increases.
Key Companies Profiled:
- Paul Hartmann AG
- Sigvaris AG
- BSN Medical GmbH
- Cardinal Health Inc.
- 3M Health Care Ltd
Key Segments of Compression Therapy Industry Survey
Compression Therapy Market by Product:
- Pneumatic Compression Therapy
- Non-segmented Pneumatic Compression Pumps
- Pneumatic Compression Sleeves
- Lower Pneumatic Compression Sleeves
- Upper Pneumatic Compression Sleeves
- Segmented Pneumatic Compression Pumps
- Segmented Pneumatic Compression Pumps with Calibrated Gradient
- Segmented Pneumatic Compression Pumps without Gradient
- Static Compression Therapy
- Anti-embolism Stockings
- Compression Bandages
- Compression Garments
- Lower Compression Garments
- Upper Compression Garments
Compression Therapy Market by Indication:
- Chronic Ulcers
- Venous Leg Ulcers
- Diabetic Foot Ulcers
- Pressure Ulcers
- Non-healing Surgical Wounds
- Traumatic Wounds
- Burn Cases
Compression Therapy Market by Distribution Channel:
- Institutional Sales
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Nursing Facilities
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
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