Compression Therapy Market By Technique (Static Compression Therapy, Dynamic Compression Therapy), By Application (Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment, Other Applications), By Distribution channel (Hospital pharmacies, Retail pharmacies, E- commerce, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The compression therapy market was valued at $3.2 billion in 2021, and is estimated to reach $5.4 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Compression therapy is a common treatment to help improve blood flow in the lower legs. It usually involves the use of elastic stockings or wraps. The elastic provides compression on the legs, ankles and feet. This helps prevent blood from pooling and fluid from building up in these areas. The compression therapy device includes compression stockings that go up to the knee and are the most common type of compression apparel. If swelling extends above the knee, patients may need longer stockings or tights that come up to the waist. Manufacturers rate compression socks based on how much pressure they provide. The amount of compression that is needed depends on the condition. The units for measuring compression are mmHg, or millimeters of mercury. There is no standard scale for rating compression stockings. These products gently squeeze the leg, which helps blood flow faster and keep moving in the right direction. Pressure from compression socks can keep fluid from leaking out of small blood vessels in the legs. It can help prevent swelling when people must sit or stand still for long periods such as some people who wear them on long airplane flights or if they stand on their feet a lot at work.
The growth of the compression therapy market is driven by surge in incidence of injuries related to sports activities, increase in availability & affordability of various types of compression products, and incidences of conditions such as varicose veins that help to increase the demand for compression products. For instance, according to the data published on Cureus, Part of Springer Nature, the population-based study was conducted in Russia in 2020 on the prevalence of chronic venous disease (CVD), it reported that 29% of individuals of which 31.5% of men, 27.5% of women were found to have primary varicose veins. Moreover, large medical technology firms all over the world are increasingly focusing on acquiring companies that provide solutions for compression therapy, which is expected to notably contribute toward the market growth. Prominent players in the global compression therapy market have adopted various strategies such as product launches, acquisition, and investments in R&D for advancement in compression therapy, to strengthen their position in the market and sustain the competitive environment.
A significant increase in awareness about the advantages of compression products and technological advancements in compression therapy, and an increase in the number of accidents and trauma are some of the key factors driving the growth of the market. However, availability of alternative treatments for compression therapy and lack of awareness regarding compression therapies in population hamper restricts the market growth. Conversely, increased application of compression therapy among the geriatric population is expected to provide lucrative opportunities for the growth of the market in the near future. Extensive R&D activities in the field of compression therapy along with significant improvement in medical infrastructure are anticipated to open new avenues for the expansion of the market.
The compression therapy market is segmented into technique, application, distribution channel and region. On the basis of technique, the market is classified into static compression therapy and dynamic compression therapy. Static compression therapy is further classified as static garments and compression braces. Dynamic compression therapy is classified as dynamic garments and compression pumps. On the basis of application, the market is classified into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. On the basis of distribution channel, the market is classified as hospital pharmacies, retail pharmacies, E-Commerce and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major companies profiled in the report include 3M Company, Medtronic PLC, Bio Compression Systems, Inc., BSN Medical, Medi GmbH and Co. K, Paul Hartmann AG, Smith and Nephew PLC., Cardinal Health, Inc., Sigvaris, Sanyleg S.R.L.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the compression therapy market analysis from 2021 to 2031 to identify the prevailing compression therapy market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the compression therapy market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global compression therapy market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Distribution channel
Hospital pharmacies
Retail pharmacies
E- commerce
Others
By Technique
Static Compression Therapy
Product type
Static garments
Compression Braces
Dynamic Compression Therapy
Product type
Dynamic Garments
Compression Pumps
By Application
Lymphedema Treatment
Leg Ulcer Treatment
Other Applications
Varicose Vein Treatment
Deep Vein Thrombosis Treatment
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Cardinal Health Inc.
3M
Tactile Medical
Gottfried Medical, Inc.
Arjo
Sigvaris Group
Convatec Group PLC
Spectrum Healthcare
Juzo
Biocompression Systems
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