Compression Therapy Market Size

Compression Therapy Market Analysis

The Compression Therapy Market size is estimated at USD 4.01 billion in 2024, and is expected to reach USD 5.29 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).

COVID-19 has significantly impacted the growth of the compression therapy market due to the increase in venous disorders caused in hospitalized patients by being in similar positions for a long time during their hospital stay. For instance, according to a study published in the National Library of Medicine, in January 2022, despite sufficient prophylaxis, upper extremity deep vein thrombosis (UEDVT) develops in COVID-19 patients. Furthermore, according to an article published by Contagion Live, in April 2022, the risks of deep vein thrombosis (DVT), pulmonary embolism, and bleeding events were increased by 3 or more months after the COVID-19 infection. Additionally according to The Guardian, in April 2022, COVID-19 was associated with a fivefold increase in the risk of deep vein thrombosis. Thus, with the increase in DVT due to COVID-19, the demand for compression therapy products increased during the pandemic. However, even though the market is gradually stabilizing as COVID-19 cases are declining, there is still an increase in hospital admission, which is expected to impact the market's growth.

Factors such as the growing burden of sports injuries and road accidents, technological advancements in wound management, and growth in the development of preventive and rehabilitative care are significant factors that are expected to drive growth in the market over the forecast period. For instance, according to the study published in the IJERPH, in May 2021, a total of 44% of adolescent athletes who took part in the study suffered an injury in Spain. 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 blood flow and body movement during the treatment. Furthermore, according to a WHO update, in 2021, rehabilitation is an essential part of universal health coverage along with the promotion of good health, prevention of disease, treatment, and palliative care which include compression therapy. There are several advantages associated with compression therapy, which are anticipated to augment the market's growth.

In addition, strategic activities such as product approval and launches are expected to drive the growth of this market over the forecast period. For instance, in April 2022, Koya Medical launched an active compression system for lymphedema and venous disease. It features a soft, breathable mesh garment with Koya's proprietary Flexframe spring-like segments for delivering compression technology. Such launches in the market will lead to increased adoption by sportspeople and others, driving the market's growth. Thus, the abovementioned factors such as the growing burden of sports injuries and road accidents, and growth in the development of preventive and rehabilitative care are expected to drive the market. However, the availability of alternative treatments and negligence, and lack of awareness regarding compression therapies are the factors expected to restrain the market growth.