The SNS Insider report estimates the Compression Therapy Market size at USD 4.01 billion in 2023, with a projected CAGR of 4.15% to reach USD 5.78 billion by 2032.
The rise in venous disorders like deep vein thrombosis (DVT) and varicose veins. Compression garments plays an important role in the treatment for these conditions, helps to improve blood flow and minimizing swelling. This improved patient outcomes and rises growth of the market for these therapeutic garments.
The increase in orthopedic procedures is rises the demand for the compression therapy. Factors like an aging population and advancements in surgical techniques are helping in increasing cases of joint replacements, ligament reconstruction surgeries, and other procedures. For Instance, American College of Rheumatology reports the increase in knee and hip replacement surgeries in the United States annually. This is due to the increasing elderly population. Every year, around 790,000 knee replacements and 544,000 hip replacements are carried out in the U.S. post-surgical rehabilitation protocols frequently incorporate compression garments to effectively manage swelling, bolster circulation, and support the surgical site, and promote easy recovery process. This dependence on the compression therapy in orthopedic care rises the growth of the compression therapy market.
The rise in the obesity in the world also rises the market growth. Obesity is the risk factor for venous insufficiency, is the condition where veins struggle to return blood to the heart. This led to a complications like varicose veins and DVT. Compression therapy plays an important role in managing these issues for the patients by increasing pressure on the veins and promoting better circulation. The rise in obesity condition increases the demand for compression garments is the important driving factor for the growth of the compression therapy market.
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Key market players profiled in the report include:
- Bio Compression Systems Inc.
- Cardinal Health
- Hartmann AG
- Julius Zorn GmbH
- SIGVARIS
- Medi GmbH & Co.
- ArjoHuntleigh
- BSN Medical GmbH
- Spectrum Healthcare
- 3M Health Care
Key Segments Covered in Compression Therapy Market:
By Technique
- Dynamic Compression Therapy
- Static Compression Therapy
By Application
- Deep Vein Thrombosis Treatment
- Varicose Vein Treatment
- Leg Ulcer Treatment
- Lymphedema Treatment
- Other Applications
By Distribution Channel
- Retail pharmacies
- Hospital pharmacies
- E-commerce
- Others
Segment Analysis
By Technique, Static Compression Therapy dominated the segment of compression therapy market with more than 68.35% of market share in 2023, due to it is convenient and effective treatment for conditions like varicose veins, blood clots (DVT), and lymphedema.
By Distribution Channel, Hospital pharmacies dominated the segment of compression therapy market with more than 59.70% of market share in 2023, due to the increased hospitalizations and rising preference for compression therapy in the hospitals are drive the market segment. This is further driven by hospitals' access to advanced compression products, skilled medical staff, and favourable insurance coverage for this treatment.
Recent Developments
June 2023, Medi GmbH & Co. launched new compression products. These offerings have both circular and flat-knit varieties, providing more options for healthcare professionals and patients.
October 2023, MediWound announced a collaboration with 3M Health Care. This partnership will support the Phase III clinical trial for EscharEx, a product aimed at improving wound healing.
September 2023, Tactile Medical secured a patent for a novel compression garment system. This innovative design utilizes adjustable pressure to help manage fluids within the body.
Regional Analysis
North America dominated the compression therapy market with approximately more than 41.68% of market share in 2023. Due to the advancements in materials and design which makes the compression therapy more comfortable and effective, that leads to increase in the patient compliance. The rising cases of conditions like diabetes and obesity, that rises the circulation problems, and increases the demand for compression therapy. In the United States, many people are suffering from varicose veins and chronic venous disease, which rises the need for effective management solutions like compression therapy.
An aging population and increasing healthcare advancements are rising the compression therapy adoption in Europe. In Europe advanced infrastructure is also developed which further rises the growth of the compression therapy market in this region.
The Asia Pacific region is growing region due to factors like, rising cases of chronic diseases like venous disorders and lymphedema. Rise in awareness about compression therapy benefits. An aging population required solutions to manage chronic conditions. Innovation plays an important role, with advancements in materials and garment design making compression therapy more user-friendly, which rises the growth of the compression therapy market in the world.
Key Takeaways
- The report clarifies that the rise in venous insufficiency, lymphedema, and DVT is a key factor propelling the market. Compression garments improve blood flow and minimize swelling in these conditions.
- The report acknowledges the role of compression therapy in post-surgical rehabilitation for procedures like joint replacements. This dependence on therapy for faster recovery fuels market growth.
- The report emphasizes obesity as a risk factor for venous insufficiency, leading to a rise in compression garment demand for managing circulation issues.
- The report offers insights into regional dominance, with North America leading due to advancements and a high prevalence of conditions like diabetes and obesity. Additionally, the report acknowledges the growth potential in Asia Pacific due to rising awareness and an aging population.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Compression Therapy Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Compression Therapy Market Segmentation, By Technique
Chapter 9 Compression Therapy Market Segmentation, By Application
Chapter 10 Compression Therapy Market Segmentation, By Distribution Channel
Chapter 11 Compression Therapy Market - Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
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