Global Compression Therapy Market - 2022-2029
Market Overview
The Global Compression Therapy Market is expected to grow at a high CAGR of 4.9% during the forecast period (2022-2029).
Compression therapy is a simple and effective means of increasing blood flow activity in the lower limbs by strengthening their vein support. It is a form of wound care that aims to gently apply pressure to ankles and legs by wearing specially designed stockings. These dressings work on slowly stretching the vein walls and improving overall circulation, which in turn helps to eliminate swelling.
Market Dynamics
The global compression therapy market growth is driven by the rise in the incidence of vein disorders such as deep vein thrombosis, leg ulcers, and blood clots and extensive usage of these products in sports medicine is driving the global compression therapy market during the forecast period.
The presence of a large target patient population is driving the market growth in the forecast period
The target population for compression therapy products includes patients suffering from lifestyle-related diseases and vascular diseases, such as obesity, diabetes, lymphedema, DVT, and varicose veins. The rising geriatric population across the globe is considered a major factor supporting market growth as geriatric individuals are more susceptible to various health conditions. These factors are driving the demand and adoption of various treatment procedures, including compression therapy, among patients. Moreover, compression therapy products are increasingly being preferred as the first line of treatment for major target indications and for post-surgery rehabilitation. In addition, the rising launch of compression therapy devices is also expected to drive the growth of this market over the forecast period. For instance, in May 2020, AIROS Medical, Inc., a medical technology manufacturer specializing in compression therapy products that treat cancer-related lymphedema and venous complications, launched an updated AIROS 6 sequential compression therapy device and arm plus garments following multiple regulatory approvals. Such launches in the market will lead to increased adoption by the sportspersons and others, driving the market growth.
The lack of universally accepted standards for compression products will hamper the growth of the market in the forecast period
The US FDA does not have any set standards for compression garments. Currently, the pressure exerted by stockings is determined by manufacturers on the basis of their laboratory measurements due to the lack of uniform standards for graduated compression stockings worldwide. In addition, factors such as the elasticity and stiffness of stocking material and the size and shape of a patient’s legs can affect the overall pressure exerted by the garment. Considering the lack of uniform standards in the market, a wide range of products are offered at different price points with varying levels of medical efficacy. These factors will hamper the growth of the market in the forecast period.
COVID-19 Impact Analysis
Covid-19 has significantly impacted the compression therapy market growth due to the increase in venous disorders in hospitalized patients because of being in on position for a long time during their hospital stay. For instance, according to the study published in Plos One, titled 'Upper extremity deep vein thrombosis (UEDVT) in COVID-19, incidence and correlated risk factors in a cohort of non-ICU patients' in January 2022, despite sufficient prophylaxis, UEDVT can develop in COVID-19 patients, particularly those who use helmet continuous positive airway pressure (CPAP) ventilation. This will lead to increased adoption of compression therapy in hospitalized patients, thereby expected to drive the market growth during the pandemic.
Segment Analysis
The compression garments segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The compression garments segment is expected to hold a major share in the market over the forecast period. In many of sportswear, it is an important addition to athletics and fitness activities. It is expected to enhance the performance of the athletes, decrease the possibility of injury, and accelerate the process of recovery. In many burns cases, it is very helpful in minimizing the formation of hypertrophic scars and enhancing the maturation process of scars. Furthermore, according to the study published in BMC Sports Science, Medicine and Rehabilitation, titled 'Lower extremity compression garments use by athletes: why, how often, and perceived benefit' in March 2021, all athletes in the study utilized compression garments (CGs) primarily to avoid injury recurrence, but they also used them to alleviate the symptoms of a present sports injury. The majority of the athletes said the CGs had a beneficial effect on them. CGs were utilized more during athletic involvement than afterward. This will further drive the growth of compression garments during the adoption of compression garments in sports activities and after the injuries.
Geographical Analysis
North America region holds the largest market share of the global compression therapy market
North America is expected to account for the largest share of the compression therapy market. This can majorly be attributed to the rising number of orthopedic and spinal surgeries. In the United States, millions are affected by arthritis and venous ulcers which generates a high amount of cost to the healthcare sector in the country. However, the boost to the companies at the domestic level by the government and awareness in the society along with better spending power drives the demand for compression therapy adoption rate each year. The presence of many international companies with well-established distribution channels would also help North America to be the more lucrative market over the forecast period.
For instance, in January 2022, AIROS Medical, Inc., a designer, manufacturer, and distributor of compression therapy devices, and Fist Assist Devices, LLC (Fist Assist), an innovative medical device company, has launched an e-commerce website, www.fistassistusa.com, for the sale of the Fist Assist FA-1 compression device in the United States. This will lead to an increase in sales of compression therapies via online platforms, driving the market growth in this region.
Competitive Landscape
The compression therapy market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include 3M Company, Arjohuntleigh, Bio Compression Systems, Inc., DJO Global, Inc. (Colfax Corporation), Gottfried Medical, Inc., Medline Industries, Inc., BSN medical, Paul Hartmann AG, Smith & Nephew PLC, Medi GmbH & Co. KG among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the compression therapy market globally. For instance, in February 2022, Koya Medical secured USD 26 million in Series B funding to advance a portfolio of active compression therapies for lymphedema and venous disorder.
Smith & Nephew PLC.
Overview:
Smith & Nephew plc is a medical technology company. The Company is engaged in designing and manufacturing technology. It supports healthcare professionals to return their patients to health and mobility by helping them to perform.
Product Portfolio:
PROFORE and PRO GUIDE: PROFORE and PRO GUIDE are multi-layer compression bandaging systems developed to apply sustained graduated compression for the management of venous leg ulcers and associated conditions.
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- 1. Global Compression Therapy Market Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Global Compression Therapy Market-Market Definition and Overview
- 3. Global Compression Therapy Market– Executive Summary
- 3.1. Market Snippet By Technique
- 3.2. Market Snippet By Product Type
- 3.3. Market snippet By Application
- 3.4. Market Snippet By End Users
- 3.5. Market Snippet by Region
- 4. Global Compression Therapy Market-Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Presence of a large target patient population
- 4.1.1.2. Growing Burden of Sports Injuries and Road Accidents
- 4.1.2. Restraints:
- 4.1.2.1. Lack of universally accepted standards for compression products
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Global Compression Therapy Market– Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Regulatory Analysis
- 6. Global Compression Therapy Market– COVID-19 Analysis
- 6.1. Analysis of Covid-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid Covid-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers’ Strategic Initiatives
- 6.6. Conclusion
- 7. Global Compression Therapy Market– By Technique
- 7.1. Introduction
- 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technique Segment
- 7.1.2. Market Attractiveness Index, By Technique Segment
- 7.2. Static Compression Therapy*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis, US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
- 7.3. Dynamic Compression Therapy
- 8. Global Compression Therapy Market– By Product Type
- 8.1. Introduction
- 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
- 8.1.2. Market Attractiveness Index, By Product Type
- 8.2. Compression Garments*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis, US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
- 8.2.3. Stockings
- 8.2.4. Bandages
- 8.2.5. Gloves
- 8.2.6. Sleeves
- 8.3. Compression Wraps
- 8.4. Compression Pumps
- 9. Global Compression Therapy Market– By Application
- 9.1. Introduction
- 9.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application Segment
- 9.2. Venous Edema*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis, US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
- 9.3. Lymphatic Disorders
- 9.4. Leg Ulcers
- 9.5. Lymphedema treatment
- 9.6. Others
- 10. Global Compression Therapy Market– By End Users
- 10.1. Introduction
- 10.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
- 10.1.2. Market Attractiveness Index, By End Users Segment
- 10.2. Hospitals*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis, US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
- 10.3. Clinics
- 10.4. Ambulatory Surgical Centers
- 10.5. Others
- 11. Global Compression Therapy Market– By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis, US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029, By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technique
- 11.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
- 11.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.2.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
- 11.2.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. The U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technique
- 11.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
- 11.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.3.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
- 11.3.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.3.7.1. Germany
- 11.3.7.2. U.K.
- 11.3.7.3. France
- 11.3.7.4. Italy
- 11.3.7.5. Spain
- 11.3.7.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technique
- 11.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
- 11.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.4.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
- 11.4.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technique
- 11.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
- 11.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.5.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
- 11.5.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- 11.5.7.4. Australia
- 11.5.7.5. Rest of Asia Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technique
- 11.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
- 11.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
- 11.6.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
- 12. Global Compression Therapy Market– Competitive Landscape
- 12.1. Key Developments and Strategies
- 12.2. Company Share Analysis
- 12.3. Product Benchmarking
- 13. Global Compression Therapy Market- Company Profiles
- 13.1. 3M Company*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Key Highlights
- 13.1.4. Financial Overview
- 13.2. Arjohuntleigh
- 13.3. Bio Compression Systems, Inc.
- 13.4. DJO Global, Inc. (Colfax Corporation)
- 13.5. Gottfried Medical, Inc.
- 13.6. Medline Industries, Inc.
- 13.7. BSN medical
- 13.8. Paul Hartmann AG
- 13.9. Smith & Nephew PLC
- 13.10. medi GmbH & Co. KG
- LIST NOT EXHAUSTIVE
- 14. Global Compression Therapy Market – DataM
- 14.1. Appendix
- 14.2. About Us and Services
- 14.3. Contact Us
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