Compression Therapy Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Compression Therapy Market Analysis
The Compression Therapy Market is expected to register a CAGR of 5.35% during the forecast period (2022-2027).
COVID-19 has significantly impacted the growth of the compression therapy market due to the increase in venous disorders in hospitalized patients owing to them being in a similar position for a long time during their hospital stay. For instance, according to the study published in PLOS One, titled "Upper extremity deep vein thrombosis (UEDVT) in COVID-19: Incidence and correlated risk factors in a cohort of non-ICU patients" in January 2022, despite sufficient prophylaxis, UEDVT can develop in COVID-19 patients, particularly those who use helmet continuous positive airway pressure (CPAP) ventilation. This will lead to increased adoption of compression therapy in hospitalized patients, thereby driving the market growth during the pandemic.
Factors such as the growing burden of sports injuries, road accidents, excessive weight gain or obesity, and the prolonged period of static nature of the human body lead to the demand for compression therapy to relieve the severity of blood flow constriction. According to the World Health Organization data in June 2021, approximately 1.3 million people die yearly from road traffic crashes. Most injuries occur due to falls, being struck by an object, collisions, and overexertion during unorganized or informal sports activities. For instance, according to the study published in the International Journal of Environmental Research and Public Health, titled "Epidemiology of Sports-Related Injuries and Associated Risk Factors in Adolescent Athletes: An Injury Surveillance" in May 2021, a total of 44% of those who took part in the study suffered an injury. The most common injuries were lumbar muscle strains (12.24%), ankle sprains (11.98%), and bone fractures (9.31%). Ankles (36.12%), knees (19.32%), and shoulders (6.47%) had the highest concentration of injuries. In all such cases, compression therapy is used to improve the blood flow and body movement during the treatment.
In addition, the rising launch of compression therapy devices is also expected to drive the growth of this market over the forecast period. For instance, in May 2020, AIROS Medical, Inc., a medical technology manufacturer specializing in compression therapy products that treat cancer-related lymphedema and venous complications, launched an updated AIROS 6 sequential compression therapy device and arm plus garments following multiple regulatory approvals. Such launches in the market will lead to increased adoption by sportspeople and others, driving the market's growth.
Other factors include technological advancements in wound management and growth in developing preventive and rehabilitative care centers that use such therapy for patients. However, the use of alternative treatment methods coupled with negligence and lack of awareness regarding compression therapies may hinder the growth of the market.
Compression Therapy Industry Segments
As per the scope of the report, compression therapy is a simple and effective means of increasing blood flow activity in the lower limbs through strengthening vein support. It's a form of wound care that aims to gently apply pressure to the ankles and legs by wearing specifically designed stockings. It is used to treat edema and other venous and lymphatic disorders of the lower limb. Technology segments the compression therapy market (static compression therapy and dynamic compression therapy), Product (Compression Garments, Compression Pumps, Compression Braces), Application (Venous Leg Ulcers, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
|Static Compression Therapy|
|Dynamic Compression Therapy|
|Venous Leg Ulcers|
|Deep Vein Thrombosis Treatment|
Compression Therapy Market Trends
This section covers the major market trends shaping the Compression Therapy Market according to our research experts:
Compression Garments Segment is Expected to Hold a Major Share During the Forecast Period
The compression garments segment is expected to hold a major share of the market over the forecast period.
For many years, compression garments have been widely used in medical treatments. In many sportswear, it is an important addition to athletics and fitness activities. It is expected to enhance the performance of the athletes, decrease the possibility of injury, and accelerate the recovery process. In many burn cases, compression garments are very helpful in minimizing the formation of hypertrophic scars and enhancing the maturation process of scars. Furthermore, according to the study published in BMC Sports Science, Medicine and Rehabilitation, titled "Lower extremity compression garments use by athletes: why, how often, and perceived benefit" in March 2021, all athletes in the study utilized compression garments (CGs) primarily to avoid injury recurrence, but they also utilized them to alleviate the symptoms of a present sports injury. Most athletes said the CGs had a beneficial effect on them. CGs were utilized more during athletic involvement than afterward. This will further drive the growth of compression garments during their adoption of compression garments in sports activities and after injuries.
In addition, a rise in initiatives from the key market players to adopt the latest technology in compression therapy garments will lead to increased adoption of these products, thereby driving the growth of this segment. For instance, in March 2022, the "Move Skin" Spring and Summer 2022 collection from Danskin (by Goldwin Ltd. Japan) was introduced online and in several retail locations. This is the first collection in Japan to incorporate LYCRA FitSense technology, a water-based dispersion screen printed onto LYCRA fiber stretch clothing to offer lightweight, tailored support.
Therefore, owing to the abovementioned factors, this segment is expected to witness robust growth during the forecast period.
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North America is Expected to Hold a Major Share over the Forecast Period
North America is expected to hold a significant share in terms of revenue generation over the forecast period.
Some primary reasons include good awareness regarding early diagnosis of venous ulcers, arthritis, sports injuries, and patients suffering from road accidents. For instance, according to the United States Department of Transportation’s National Highway Traffic Safety Administration, in October 2021, an estimated 20,160 people died in motor vehicle crashes in the first half of 2021, up 18.4% over 2020. The rising number of traffic accidents in this region will lead to increased adoption of compression therapy during the healing of injuries, thereby driving the market growth in this region.
In the United States, millions are affected by arthritis and venous ulcers, which generate a high cost for the country's healthcare sector. However, the government's boost to the companies at the domestic level and awareness in society, along with better spending power, drives the demand for compression therapy adoption rate each year. Many international companies with well-established distribution channels could also help North America become the more lucrative market over the forecast period. For instance, in January 2022, AIROS Medical, Inc., a designer, manufacturer, and distributor of compression therapy devices, and Fist Assist Devices, LLC (Fist Assist), an innovative medical device company, launched an e-commerce website, www.fistassistusa.com, for the sale of the Fist Assist FA-1 compression device in the United States. This will increase sales of compression therapies via online platforms, driving the market growth in this region.
In addition, in November 2020, Therabody acquired RP Sports and its groundbreaking clinical technology product line, Recovery Pump, bringing RecoveryPump's clinical pneumatic compression technology to the population.
Thus, owing to the abovementioned factors, the market is expected to show growth in the North American region.
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Compression Therapy Market Competitor Analysis
The market for compression therapies is moderately competitive. The technological advancements in terms of inclusion of biosensors and materials of clothing used, along with exploring more countries in low and middle-income countries, drive the companies to explore the market over the forecast period. Besides that, the rising launch of compression therapies, rising sales of e-commerce for these therapies, and rising acquisitions among the market players are expected to drive further market growth. Some of the major companies in the region include 3M, Paul Hartmann AG, Smith & Nephew PLC, Medline Industries, DJO Global, and Bio Compression Systems, Inc., among others.
Compression Therapy Market Top Players
Smith & Nephew PLC
Medline Industries, Inc.
DJO Global, Inc.
*Disclaimer: Major Players sorted in no particular order
Compression Therapy Market Recent Developments
- In February 2022, Koya Medical secured USD 26 million in Series B funding to advance a portfolio of active compression therapies for lymphedema and venous disorders.
- In February 2022, Therabody launched its second generation of Recovery Air pneumatic compression boots with advanced technology that helps people recover effectively.
Compression Therapy Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Sports Injuries and Road Accidents
4.2.2 Technological Advancements in Wound Management
4.2.3 Growth in Development of Preventive and Rehabilitative Care
4.3 Market Restraints
4.3.1 Availability of Alternative Treatments
4.3.2 Negligence and Lack of Awareness Regarding Compression Therapies
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Technology
5.1.1 Static Compression Therapy
5.1.2 Dynamic Compression Therapy
5.2 By Product
5.2.1 Compression Garments
5.2.2 Compression Pumps
5.2.3 Compression Braces
5.3 By Application
5.3.1 Venous Leg Ulcers
5.3.2 Deep Vein Thrombosis Treatment
5.3.3 Lymphedema Treatment
5.3.4 Other Applications
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.4.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 3M Company
6.1.3 Bio Compression Systems, Inc.
6.1.4 DJO Global, Inc. (Colfax Corporation)
6.1.5 Gottfried Medical, Inc.
6.1.6 Medline Industries, Inc.
6.1.7 BSN medical
6.1.8 Paul Hartmann AG
6.1.9 Smith & Nephew PLC
6.1.10 medi GmbH & Co. KG
6.1.11 Tactile Medical
6.1.12 SIGVARIS (Switzerland)
6.1.13 Julius Zorn GmbH
6.1.14 Theragun, Inc. (Therabody)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Compression Therapy Market Research FAQs
What is the study period of this market?
The Global Compression Therapy Market is studied from 2018 - 2028.
What is the growth rate of Global Compression Therapy Market?
The Global Compression Therapy Market is growing at a CAGR of 5.35% over the next 5 years.
Which region has highest growth rate in Global Compression Therapy Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Global Compression Therapy Market?
North America holds highest share in 2021.
Who are the key players in Global Compression Therapy Market?
Smith & Nephew PLC, Medline Industries, Inc., 3M Company, Paul Hartmann, DJO Global, Inc. are the major companies operating in Global Compression Therapy Market.
Global Compression Therapy Industry Reports
In-depth industry statistics and market share insights of the Global Compression Therapy sector for 2020, 2021, and 2022. The Global Compression Therapy research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global Compression Therapy report PDF.