Overview

Compression Therapy Market is projected to value over USD 3.5 billion by 2027 end with a CAGR of over 6% during the forecast period 2020 to 2027.

The rising occurrence of vein diseases like deep vein thrombosis, leg ulcers, varicose veins, blood clots and lymphedema and the increased usage of bandages and stockings for treating these vein diseases are some factors driving the compression therapy market growth. Applying these products reduce the foot and leg volume, hypertension and venous flex which shall boost the market growth further. The rising geriatric population coupled with the increasing number of orthopedic surgeries with a rise in accident cases and the number of obese people has propelled the growth of the market. As per the American Academy of Orthopedic Surgeons, 2006, hip and knee replacements are anticipated to rise by over 170% and 670% respectively over the next 20 years. Additionally, compression garments are used to treat sport related injuries in preventing swelling and inflammation post the trauma or injury. These products are prominently used for increasing the body’s blood circulation, thereby helping in maintaining muscle health.

Compression Therapy Market

Market Segmentation:

By Technology

Static Compression Therapy
Dynamic Compression Therapy

By Product

Compression Pumps
Compression Stockings
Compression Bandages
Compression Tapes

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

The market is classified into technology, product and region. The technology segment is categorised into static compression therapy and dynamic compression therapy. The static compression therapy segment is user friendly and is highly convenient and it is greatly accessible for treating sports-related injuries and oedema for relieving pressure and pain. Furthermore, it is used for treating dep vein thrombosis, chronic venous insufficiency and lymphedema which is prominently observed in geriatric and diabetic population. For example, according to the National Medical Policy of Health Net Inc. recommended using intractable lymphedema in arms owing to mastectomy. Such factors shall boost the segment growth substantially. The product segment id categorised into pumps, stockings, bandages and tapes. The bandages segment is anticipated to hold the largest compression therapy market share owing to their increased acceptance in treating oedema, lymphatic and venous diseases of the lower limb. Advantages like high cost efficiency, high tension susceptibility elasticity and extensibility related to bandages shall boost the proliferation of the market.

Regional Analysis:

The North America region is predicted to lead the market owing to the rise in the geriatric population and increased prevalence of appalling venous diseases along with rising obesity, increased disposable income and a strong presence of pharmaceutical and biopharmaceutical companies in the region. As per the report provided by the NCBI, the incidence of appalling venous diseases was prominent in western nations with over 35% in females and over 16% in males.

Competitive Landscape:

The key players are Medi GmbH & Co., Paul Hartmann AG, Julius Zorn GmbH, ArjoHuntleigh, SIGVARIS, Medtronic Plc, BSN Medical GmbH.

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global compression therapy market by technology, by product and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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