According to FutureWise analysis, the market for Compression Therapy is to reach US$ 4,316.15 million by 2028 at a CAGR of 5.5%.
Compression therapy is a medical treatment that involves the use of specially designed garments, stockings, or bandages to apply external pressure to the limbs or other body parts. The pressure helps improve blood circulation, reduce swelling, and alleviate symptoms associated with various conditions such as lymphedema, varicose veins, and chronic venous insufficiency. Compression therapy works by compressing the veins and muscles in the affected area, which helps to increase the flow of blood and lymphatic fluid. The compression garments or bandages apply graduated pressure, meaning that the pressure is higher at the ankle or wrist and gradually decreases towards the thigh or upper arm. This prevents the build-up of fluid and reduces the risk of blood clots.
Compression therapy is a safe and non-invasive treatment option that can be used in combination with other therapies or as a standalone treatment. It is commonly used for patients who have mobility limitations, such as those who are bedridden or wheelchair-bound and can be customized to fit the patient's individual needs. Compression therapy can also be used to prevent the development of conditions such as deep vein thrombosis, a type of blood clot that can pose a life-threatening risk if it travels to the lungs. Individuals who have a higher likelihood of developing blood clots., such as those who have undergone surgery or have limited mobility, may be prescribed compression stockings to wear during recovery or while sitting for long periods.
FutureWise Market Research has published a report that provides an insightful analysis of Compression Therapy Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts projects that Compression Therapy Market will experience a significant growth.
According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.
Major players included in the Compression Therapy Market:
- Medi GmbH & Co.
- Paul Hartmann AG
- Julius Zorn GmbH
- ArjoHuntleigh
- Sigvaris
- Medtronic Plc
- BSN Medical GmbH.
- DJO Global, Inc.
- Tactile Medical
- Sanyleg S.r.l.
- 3M Company
- ConvaTec Inc.
(Note: The list of the major players will be updated with the latest market scenario and trends)
Recent developments by key players in Compression Therapy Market:
In February 2022, Koya Medical received USD 26 million in Series B investment to develop a variety of active compression therapy for lymphedema and venous diseases.
In February 2022, Recovery Air pneumatic compression boots, the second generation from Therabody, were introduced with advanced technology.
The compression therapy market has been growing steadily over the past decade, driven by several key factors. The primary factor driving this expansion is the increasing prevalence of persistent medical conditions, such as lymphedema, venous leg ulcers, and deep vein thrombosis, which require long-term management and often involve the use of compression garments. Another factor driving the growth of the compression therapy market is the increasing awareness of the benefits of compression therapy among healthcare professionals and patients alike. As more study is conducted on the effectiveness of compression therapy, its use is becoming more widespread, leading to increased demand for these products. The compression therapy market is highly competitive due to the multitude of companies that provide a wide range of products, including compression stockings, sleeves, gloves, and bandages. Manufacturers consistently allocate resources towards research and development in pursuit of producing superior products that provide enhanced comfort, usability, and superior therapeutic outcomes.
One of the challenges facing the compression therapy market is the lack of reimbursement for many of these products, particularly in the United States. The cost of these products can be a challenge for patients, which may hinder the growth of the market in certain areas. However, as the demand for compression therapy continues to grow, there is an increasing focus on cost-effective solutions, such as portable pneumatic compression devices, which can be used at home and are more affordable than traditional compression garments.
Overall, the outlook for the compression therapy market remains positive, with continued growth expected in the coming years. Increasing awareness of the benefits of compression therapy, advances in technology, and the development of cost-effective solutions are all expected to drive growth in this market, despite the challenges it faces.