Compression Therapy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The compression therapy devices market is on the brink of a significant transformation, with worldwide revenue reaching an impressive US$ 3.3 billion in 2024. According to the latest market analysis, it is projected to experience robust growth and is expected to reach a valuation of US$ 5.1 billion by the end of 2031.
Factors Fueling Market Growth
1. Rising Incidence of Venous Leg Ulceration: Venous leg ulceration is a prevalent medical condition affecting nearly 1.5% of the general population and 5% of the elderly population globally. Contributing factors include immobility, obesity, and previous deep vein thrombosis. The awareness of these ulcers has led to increased use of compression therapy devices, bolstering market growth.
2. Orthopaedic Procedures and Sports Injuries: The growing number of orthopaedic procedures and sports-related injuries, with an estimated 2 million sports injuries occurring annually, has driven the demand for compression therapy devices. These devices play a vital role in preventing inflammation, reducing swelling, and facilitating muscle recovery.
3. Research and Development: Ongoing research and development efforts have resulted in the introduction of innovative compression therapy products with enhanced health benefits. This continuous innovation has led to increased consumer demand, further propelling market growth.
Challenges in the Market
• Stringent Regulations: Despite the promising market prospects, stringent regulations regarding the sales of compression therapy devices pose challenges. Regulatory authorities are enforcing strict guidelines for manufacturing medical compression garments, emphasizing therapeutic efficacy, product reliability, and patient comfort.
• Lack of International Standards: A global lack of international standards for compression therapy products, especially regarding garment selection and pressure standards, can affect product efficacy and customer trust, potentially limiting market growth.
Country-wise Insights
• United States: The U.S. dominates the North American market due to significant investments in research and development, a high prevalence of diseases such as lymphedema and venous disorders, and a growing market for compression therapy devices.
• Germany: Germany benefits from a large target patient population, rising consumer health awareness, and favorable healthcare reimbursement scenarios, driving market growth.
• United Kingdom: An increase in sports-related injuries and accidents has led to a surge in demand for compression therapy devices in the UK, with healthcare professionals advocating their use for injury prevention.
• India: The growing diabetic population in India is driving demand for compression therapy products, with diabetes expected to affect 5.4% of the global population by 2025, presenting a significant market opportunity.
Competition Landscape
The compression therapy products market is highly competitive, with several key players expanding into untapped markets and acquiring smaller companies to promote their products. Some prominent companies in this space include
• Mölnlycke Health Care AB
• 3M
• Arjo (Huntleigh Healthcare Limited)
• Brownmed, Inc.
• Essity Aktiebolag (publ) (BSN Medical Inc.,)
• Cardinal Health.
• Daesung Maref Co., Ltd
• AIROS Medical, Inc. (Devon Medical Products)
• Enovis (DJO Global, Inc)
• FlowAid Medical Technologices
• Avanos Medical, Inc., (Game Ready)
• Julius Zorn, Inc.
• Lohmann & Rauscher GmbH & Co. KG
• medi GmbH & Co. KG
• TONUS ELAST SIASwoop Aero Pt. Ltd.
• Medline Industries, Inc.
• Paul Hartmann AG
• SIGVARIS GROUP
• Smith & Nephew
• Stryker
• Tactile Medical
• Thuasne SAS
• Zimmer Biomet (Medical Compression Systems (DBN) Ltd.)
Key Segments Covered in Compression Therapy Devices Industry Research
Product:
• Pneumatic Compression Therapy
• Static Compression Therapy
Anti embolism/Compression Stockings
Compression Bandages
Compression Garments
Lower Compression Garments
Upper Compression Garments
Compression Class:
• 18-21 mmHg
• 23-32 mmHg
• 34-49 mmHg
• more than 50 mmHg
Distribution Channel
• Institutional Sales
Hospitals
Clinics
Ambulatory Surgical Centers
Nursing Facilities
• Retail Sales
Hospital Pharmacies
Retail Pharmacies
Online Sales
Specialized Orthopedic Stores
Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa
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