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LI2007319 |
Pages: 120 |
Jan 2023 |
The global compression therapy market is expected to witness significant growth due to advancing technologies and rising prevalence in the disease community. In addition, recently, compression therapy has become more common with patients as a preferred treatment.
Compression therapy is a therapy that operates by raising the flow of blood, particularly in the lower limbs, by enhancing the strength of the vein.Special garments are developed to offer different pressure at multiple points in the legs. These garments are fitted with devices that maintain proper circulation of the blood by adding pressure to the legs and then releasing it. Increasing prevalence of vein disorders such as leg ulcers, deep vein thrombosis, lymphedema, varicose veins, and blood clotting are driving the market growth.
Athletes and sportspeople use compression therapy as they minimize muscle pain, enhance strength, and improves athletic performance. Compulsory physical education practices, such ascompetitive and recreational,are the most common causes of sports injury.Healthcare practitioners use compression therapy products regularly for amateur and professional sports patients, as well as for their daily clinic patients. Rising sport injuries and increasing demand by health care professionals are projected to fuel the market growthof compression therapy over the forecast period.
Over the past few years, unfavorable reimbursement policies have played a critical role in the global compression therapy market.Compression therapy products are costly and involve massive sums of money for follow-up and therapy tracking. Therefore, reimbursement is considered an essential element of the treatment, and inadequate reimbursement policies may hinder the development of the market.
Obesity patients are at greater risk of developing vascular disorders because of the tension put on the skin and underlying organs by the body weight.For instance, WHO claimed that in 2014 over 1.9 billion adults aged 18 years and abovewere found to be overweight, out of which over 600 million people were suffering fromobesity. That figure is projected to grow over the forecast period. Increasing rate of obese population will directly lead to a rising demand for compression therapy; this is foreseen to act as an opportunity in the upcoming period for the global compression therapy market.
By product, the global compression therapy market is divided into garments, braces, and pumps. Amongst these, garment products can be further distinguished into stockings, bandages, and wraps. The compression garment is estimated to dominate the market shares as it is most commonly used in a variety of symptoms, such as varicose veins, edema, DVT, and lymphedema, as well as other health diseases.
By applications,the global compression therapy market is classified intovaricose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and others. Amongst these, lymphedema treatment is expected to be the highest growing market segment due to rising lymphedema occurrences and high demand for compression therapy products for treating and controlling lymphedema among end-users.
By end-users, the global compression therapy market is bifurcated into clinics, pharmacies, e-commerce, ambulatory surgical centers, and home care settings. Out of these, clinics to dominate the market shares as healthcare practitioners are constantly promoting the use of innovative technologies in compression therapy. In addition, clinics provide better patient comfort and are equipped with the latest devices, which further attributes to the market growth.
The global compression therapy market is analyzed across North-America, Europe, Asia-Pacific, and LAMEA. North America dominates the market share due to the presence of a large number of manufacturers and strong acceptance of compression therapy products in this region. Asia-Pacific is expected to be the fastest-growing region, especially countries like Japan, China, and India, mainly due to the growing aging population and rising diabetes cases.
To explore more about the global compression therapy market, get in touch with our analysts here.
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Key participants in the Global Compression Therapy Market:
Merger & acquisition andadvanced product development are the frequent strategies followed by the market players
Some of the key players of the global compression therapy market are Medtronic plc,Sigvaris Management AG, Paul Hartmann AG, The 3M Co., Spectrum Healthcare, Bio Compression Systems Inc., Gottfried Medical Inc., BSN Medical GmbH, Colfax Corp., Tactile Systems Technology Inc., and others.
Inorganic growth approaches are favored by the market players to spread into local markets. The major players in the global compression therapy market are putting greater emphasis on merger & acquisition and advanced product growth. These are the common strategies that established organizations tend to follow. To focus more on market player’s approaches, the study explains Porter’s five-force model.
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Aspect |
Particulars |
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Historical Market Estimations |
2018-2019 |
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Base Year for Market Estimation |
2019 |
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Forecast timeline for Market Projection |
2020-2027 |
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Geographical Scope |
North America, Europe, Asia-Pacific, LAMEA |
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Segmentationby Product |
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Segmentation by Application |
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Segmentation by End-User |
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Key Countries Covered |
U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia |
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Key Companies Profiled |
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Source: Research Dive Analysis
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