Compression Therapy Market Share Analysis Report, 2023-2032
The global compression therapy market size was estimated at USD 4.15 billion in 2022 and is expected to surpass around USD 7.65 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 6.3% during the forecast period 2023 to 2032.
Key Takeaways:
Compression Therapy Market Report Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 4.15 Billion |
| Market Size by 2032 | USD 7.65 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 6.3% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Segments Covered | Technology, Product, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | Cardinal Health; Julius Zorn GmbH; Hartmann AG;Medi GmbH & Co.; SIGVARIS; BSN Medical GmbH; ArjoHuntleigh; 3M Health Care; Spectrum Healthcare; Bio Compression Systems, Inc.; Stryker; Gottfried Medical |
As hospitalized patients had to stay in one position for a very long time during their hospital stay, it led to a rise in the prevalence of venous disorders. For instance, according to a research article published in 2022, by PLOS, a non-profit organization in the U.S., upper extremity deep vein thrombosis can occur in COVID-19 patients despite adequate prophylaxis, especially in patients undergoing helmet CPAP ventilation.
Potential benefits associated with the application of compression therapy products in the treatment of the target diseases, such as reduction of leg and foot volume, venous reflux, and hypertension, are expected to propel the demand during the forecast period. In addition, the availability of various alternatives or modalities, ranging from bandages and stockings to pneumatic devices, to achieve efficient treatment provides several options to patients with varying conditions.
The market is predominantly driven by the growing number of orthopedic procedures due to a significant rise in the number of accidents and the obese population globally. The increasing geriatric population is highly susceptible to orthopedic conditions thereby contributing to the high number of orthopedic procedures. Moreover, varicose veins are also a common vein disorder in the geriatric population. For instance, according to a research article published by Chicago Vein Institute, in 2022, an estimated 50% of the U.S. population over 50 years old has varicose veins. These factors are leading to an upsurge in the consumption of the products.
In addition, compression is routinely applied in orthopedic surgeries to alleviate pain, reduce swelling, and facilitate rapid functional recovery. The aforementioned benefits are primarily responsible for the high penetration of the related products in the management of musculoskeletal injuries and are applied in succession to orthopedic operative procedures.
The increasing application of compression garments in sports medicine is expected to provide the market with lucrative growth opportunities. Compression therapy is being increasingly used to prevent inflammation and swelling following injury or trauma. These products are also highly utilized to increase blood circulation in the body and prevent the coagulation of fluids in tissue space, thus promoting muscle health.
Technology Insights
Static technology dominated the technology segment in 2022 with a market share of 64.5%, owing to the high convenience and user-friendly attributes of this technology. The sizable share garnered by this segment is attributable to the greater accessibility of these products in treating edema and sports-related injuries to enable pain and pressure relief. Benefits associated with static technology are also believed to drive the inclination of patients as well as physicians, thus accounting for a dominant share.
Moreover, the substantial share captured by this segment is also presumed to be a consequence of the high susceptibility of the growing diabetic and geriatric population base to the development of lymphedema, deep vein thrombosis, and chronic venous insufficiency.
Dynamic technology is expected to witness exponential growth during the forecast period as a consequence of the benefits associated, deeming it a more appropriate choice in the future. These benefits include external control, high venous return, and sustained effect.
Product Insights
In 2022, compression bandages held the dominant share of over 43.8% in the product segment. The aforementioned is believed to be a result of their high adoption in the treatment of edema and venous and lymphatic disorders of the lower limb. Benefits such as high-tension sustainability and high-cost efficiency, extensibility, and elasticity associated with bandages are presumed to be responsible for their adoption in a wide range of venous ailments.
In addition, the availability of a wide range of bandages, such as multilayer, long-stretch, and short-stretch, to fulfill patient requirements and yield better outcomes is leading to high segment growth. Bandages are considered a gold standard in the treatment of lymphedema and the occurrence of the majority of the vascular diseases led to the uptake of these bandages, which contributed to the dominant share in 2022.
Compression pumps are anticipated to exhibit significant CAGR over the coming years owing to the rise in the number of cases of lymphedema and other venous disorders. Moreover, pumps are designed to facilitate the delivery of controlled pressure as per the severity of the disorder, thereby rendering it more effective in comparison to the other alternatives.
Furthermore, pumps are increasingly being incorporated as an alternative to failed conservative measures. Single-compartment and multiple-chamber nonprogrammable lymphedema pumps are in certain cases, where patients are unresponsive to conventional options such as compressive garments, termed as medically necessary in the treatment of lymphedema and venous ulcers.
Regional Insights
North America captured a dominant share of the overall market of 43.0% in 2022. The growing geriatric population and obesity are responsible for the share attained by this region over the previous years. The presence of favorable government reimbursement plans and growing healthcare awareness levels are also key growth contributor factors across this region.
Moreover, the increasing burden of chronic vein disorders (CVD) is also a major factor driving the growth of the market in this region. For instance, according to a research article published in 2022, CVD is a major health problem in western countries and its prevalence ranges from 5-30% in the adult population.
Asia Pacific is anticipated to witness a lucrative growth rate throughout the forecast period. The market is driven by high investments in R&D by key players as well as consistent initiatives to commercialize products at a relatively lower price. In addition, rising disposable income that raises the probability of usage of these products, and continuous upgradation of healthcare infrastructure is predicted to provide the market with remunerative growth opportunities.
Some of the prominent players in the Compression therapy Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2032. For this study, Nova one advisor, Inc. has segmented the global Compression therapy market.
Technology
Product
By Region
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers