Global Compression Therapy Market Size (2024 – 2030)

The Global Compression Therapy Market is expected to grow from USD 4.12 Billion in 2023 to reach a valuation of USD 6.03 billion by 2030 at a compound annual growth rate (CAGR) of 5.6% between 2024-2030.

Commencing compression therapy promptly following an injury is advisable. Utilizing compression pumps and tapes aids in promoting muscle health, enhancing overall blood circulation, and preventing fluid coagulation in the tissue space subsequent to accidental injuries. Consequently, this therapeutic approach is increasingly employed to mitigate swelling and inflammation post-injury or trauma.

The surge in orthopedic surgeries contributes to the escalating adoption of compression therapy. Additionally, the demand for compression therapy is propelled by the growing incidence of venous issues and an aging demographic. Patients' heightened awareness of available treatment options further contributes to the increasing popularity of compression therapies. Moreover, the escalating demand for products used in compression therapy is fueled by advancements in technology.

Lymph node dissection is a routine component of cancer treatment, particularly for breast and prostate tumors, disrupting the body's lymphatic system filtration process. This disruption leads to the accumulation of lymph fluid, resulting in lymphedema—severe swelling of tissues or limbs. With over 250 million people worldwide affected by this condition, compression therapy emerges as one of the most frequently employed methods for lymphedema treatment. The rising prevalence of this ailment is expected to drive the demand for such therapies.

Key Market Insights:

The growth and innovations in the medical devices industry, particularly in the adoption of compression therapy devices for treating vein-related diseases like deep vein thrombosis and varicose veins, are propelled by a substantial pool of chronic diseases. The increasing number of patients with various diseases presents an opportunity for the Compression Therapy Industry. Additionally, market growth is positively influenced by various strategies adopted by market players, including product launches, approvals, agreements, partnerships, and collaborations globally. For instance, in May 2020, AIROS Medical, Inc. introduced the Arm Plus apparel, which received FDA 510(k) clearance and is utilized for treating lymphedema in the arm, shoulder, chest, and back.

The demand for compression therapy extends beyond developed countries to developing nations like China, Brazil, and India, fostering market growth. Factors such as a rise in treatment procedures and increased awareness of the benefits of compression therapy for disease detection further contribute to market growth. Additionally, heightened awareness regarding advanced device options and increased research activities by manufacturers for developing advanced devices are expected to boost the adoption of compression therapy in the near future. However, the availability of alternative treatment procedures poses a challenge to the growth of the Compression Therapy Market.

Global Compression Therapy Market Drivers:

Rising Incidence of Lymphatic Disorders and Venous Leg Ulcers to Propel Market Growth

Globally, there is a growing incidence of lymphatic and venous disorders. Contributing factors to these disorders include a sedentary lifestyle, a history of deep vein thrombosis, pregnancy, excessive weight, and the presence of varicose veins. Moreover, chronic venous insufficiency, breast cancer, and various surgical procedures are leading to increased cases of lymphatic disorders. The escalating prevalence of these conditions, coupled with heightened awareness about advanced treatment methods such as compression garments and devices, is expected to stimulate market expansion. For example, a study in Vascular Medicine indicated that venous leg ulceration is a prevalent health issue worldwide, affecting approximately 1.5% of the general population and up to 5% of older adults.

Innovations in Products contribute and accelerates Market Growth

The compression therapy market is anticipated to experience growth during the forecast period, thanks to various innovations in the field. Traditional treatment methods, such as single-component compression systems, are being surpassed by advanced multi-component and bi-layer compression therapy systems. A multi-component system typically includes a crepe layer, wool padding, an elastic bandage, and an elastic cohesive bandage.

With each added layer of compression, the interface pressure beneath the bandages increases, rendering the multi-component system more effective than its single-component counterpart. Furthermore, major industry players are increasingly focusing on developing advanced compression therapy systems with improved efficacy. For instance, in January 2020, AIROS Medical Inc., a company specializing in compression therapy devices, received FDA clearance for its AIROS 8 Sequential Compression Therapy Device and garment system, showcasing innovation in this field.

Global Compression Therapy Market Restraints and Challenges:

Elevated Costs of Compression Pumps & Limited Awareness in Developing Nations May Impede Market Progress

The scarcity of knowledge regarding compression as a viable management strategy for lymphatic and venous disorders in several developing nations may constrain the growth of the compression therapy market. A significant barrier to market expansion is the elevated expense associated with compression pumps. Nonetheless, the intensifying competitive landscape leading to price moderation, along with heightened efforts by key market players to enhance awareness about the availability of compression therapy for ailments like venous leg ulcers and lymphedema, may present opportunities for market growth in the foreseeable future.

Challenges Due to Restricted Knowledge of Compression Therapy

The inadequate awareness of compression therapy as an effective treatment for lymphatic and venous disorders in many developing countries is likely to pose challenges to the market's growth. Furthermore, the significant cost of compression pumps remains a notable hurdle.

Despite these challenges, there is potential for market expansion in the future. This expansion is anticipated due to increased market competition potentially leading to price reductions, as well as ongoing efforts by leading firms to promote awareness of compression therapy as a treatment option for conditions such as venous leg ulcers and lymphedema. These initiatives are expected to open up growth avenues in the years to come.

Global Compression Therapy Market Opportunities:

The global compression therapy market is presented with considerable opportunities as there is a growing emphasis on health and maintaining an active lifestyle. Compression therapy is becoming increasingly popular among athletes and individuals seeking relief from various medical conditions, contributing to the rise in demand for compression garments. Additionally, this therapy plays a vital role in sports medicine by aiding in the prevention of injuries, reducing muscle fatigue, and promoting quicker recovery post-exercise.

Furthermore, the application of compression therapy in the medical field, particularly for managing conditions like lymphedema and deep vein thrombosis, is driving market expansion. Developments in the materials and design of compression wear have broadened its appeal to a wider range of consumers. The growing elderly population, which often requires products to improve circulation, further stimulates market demand. The compression therapy market is poised for diverse growth opportunities, fueled by ongoing innovations and advancements in technology and research, ultimately enhancing people's health and quality of life.

GLOBAL COMPRESSION THERAPY MARKET REPORT COVERAGE:

Global Compression Therapy Market Segmentation:

Global Compression Therapy Market Segmentation: By Technique:

• Static Compression Technique

• Dynamic Compression Technique

The market is split into static and dynamic compression approaches based on the technique segment. The static compression technique held a dominant market share of 32.1%, mostly due to its very convenient and user-friendly qualities. Because these goods are easily accessible, they are quite successful in treating edema and sports-related injuries and in relieving pressure and discomfort. This helps to explain why this segment has seized a sizable piece of the market.

Additionally, the benefits of static technology have been an intriguing aspect that affects doctors and patients alike. The expansion of this segment can be ascribed to these factors.

Global Compression Therapy Market Segmentation: By Product:

• Compression Garments

• Compression Bandages

• Compression Tapes

• Compression Pumps

• Compression Ortho Braces

• Other Products

Compression clothing, compression bandages, compression tapes, compression pumps, compression ortho braces, and other products make up the product sector that divides the market. Compression bandages held the lion's share of the market among them. Because they are affordable and can withstand high tension, bandages for the treatment of edema and venous and lymphatic problems in the lower limb are becoming more and more popular. They also have qualities like flexibility and elasticity. Additionally, because these bandages enhance treatment outcomes, a large number of healthcare experts favour them.

Global Compression Therapy Market Segmentation: By Application:

• Varicose Vein Treatment

• Deep Vein Thrombosis Treatment

• Lymphedema Treatment

• Leg Ulcer Treatment

• Other Applications

The market is segmented into deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, varicose vein treatment, and other categories based on the application. With a maximum share of 32.6%, the therapy for varicose veins is held. The therapy for varicose veins has become the market leader among these. Because more people are choosing compression therapy to treat their varicose veins, it is anticipated to continue to be the market leader during the projected period. Furthermore, the market for compression therapy devices has been greatly stimulated by ongoing developments in the equipment used for these kinds of treatments. The general expansion and acceptance of compression therapy in the medical community are being facilitated by these advancements.

Global Compression Therapy Market Segmentation: By Distribution Channel:

• Hospital & Clinics

• Pharmacies & Retailers

• Home Care Settings

• E-commerce Platforms

• Other Distribution Channels

The market is segmented into hospitals and clinics, pharmacies and retailers, home care settings, e-commerce platforms, and other distribution channels based on the distribution channel. The sector with the largest market share among them is hospitals and clinics, and it is anticipated to lead the market over the forecast period.

Furthermore, because more compression therapy goods are being sold on e-commerce platforms to cure ailments, these platforms are predicted to expand at the quickest compound annual growth rate (CAGR).

Global Compression Therapy Market Segmentation: By Region

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

In North America, the region has secured the majority of the market share at 33.4%, establishing its market leadership. This can be attributed to the increasing elderly population and the upward trend in obesity rates observed in the region in recent years. Additionally, the region's growth is influenced significantly by favorable government reimbursement policies and the expanding awareness of healthcare. The mounting burden of chronic vein disorders (CVD) has further contributed to the substantial expansion of the market in North America.

The Asia-Pacific region is anticipated to undergo significant growth throughout the forecast period. This growth trajectory is driven by substantial investments in research and development (R&D) initiatives undertaken by key industry players. Efforts to introduce products at more affordable prices are also contributing to the region's market expansion. Moreover, the rise in disposable incomes enhances the likelihood of product usage and continuous enhancements in healthcare infrastructure present lucrative growth opportunities in the Asia-Pacific region.

COVID-19 Impact Analysis on the Global Compression Therapy Market:

The compression therapy market experienced a detrimental impact due to the COVID-19 pandemic. The global healthcare industry found itself at the epicenter of this widespread health crisis, and the consequences are anticipated to have profound and enduring effects. The resolution or subsiding of the crisis is expected to instigate comprehensive healthcare reforms implemented by countries and major market players. The private healthcare sector, already grappling with a significant reduction in outpatient visits, elective surgeries, and international patient flow, is facing a heightened burden. This involves increased investments in manpower, equipment, consumables, and other resources to ensure hospitals are 100% prepared for safety protocols and the eventual treatment of patients. The orthopedics sector has also been affected, with healthcare professionals being reassigned to attend to COVID-19 patients, thereby limiting their ability to cater to routine patients.

Recent Trends and Developments in the Compression Therapy Market:

In 2022, DJO broadened its range of bracing solutions, focusing on the burgeoning hip bracing segment, by acquiring Outcome-based Technologies' CryoKnee knee brace and the EXCYABIR hip brace.

June 2022 marked a significant development when Mego Afek, an innovator in sequential compression therapy with over four decades of expertise, partnered with Mueller Sports Medicine, a distinguished name in sports medicine for over 60 years. This collaboration introduced a new treatment option aimed at enhancing circulation and recovery, targeting both athletes and general consumers.

Key Players:

1. Stryker Corporation

2. Cardinal Health

3. Medi GmbH & Co.

4. BSN Medical GmbH

5. Julius Zorn GmbH

6. 3M Health Care

7. Bio Compression Systems, Inc.

8. Gottfried Medical

9. Hartmann AG

10. Other Key Players