Healthcare Medical Devices Biotechnology

Compression Therapy Market

Global Industry Analysis and Forecast 2024-2031

Pages : 120

Base Year : 2023

Released Year : May 2024

Format :Pdf Ppt Xls

Report ID:KR691

Author : Siddhi J.

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Base Year

2023

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Forecast Year

2024-2031

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Historical Years

2019-2022

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Market Value (2023)

USD 4.10 Billion

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Forecasted Value (2031)

USD 6.54 Billion

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CAGR (2024 - 2031)

6.06%

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Fastest Growing Region (2024 - 2031)

Europe

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Largest Region

North America

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By Technology

Static Compression Therapy, Dynamic Compression Therapy

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By Product

Compression Bandages, Compression Stockings, Compression Tapes, Compression Pumps, Compression Braces


Compression Therapy Market Size

The Global Compression Therapy Market size was valued at USD 4.10 billion in 2023 and is projected to reach USD 6.54 billion by 2031, growing at a CAGR of 6.06% from 2024 to 2031. This growth is mainly driven by the growing number of road accidents, the rising geriatric population leading to chronic disease, growing awareness, and product development.

The market expansion is primarily driven by the rising incidence of chronic diseases and technological advancements in therapy products. Chronic conditions such as venous leg ulcers and lymphedema fueled by an aging population and sedentary lifestyles are boosting consumer demand for compression therapy. Additionally, innovations in materials and designs enhance therapy effectiveness, patient comfort, and compliance. However, strict regulatory requirements and market saturation are likely to hinder market growth. Despite this, opportunities for expansion, particularly in emerging economies and developing regions, due to technological innovation and growing healthcare infrastructure, are foreseen to stimulate market progress in the coming years.

The compression therapy market consists of manufacturing, distributing, and providing medical devices and products designed to apply controlled pressure to specific body areas. This approach aims to improve blood circulation, decrease swelling, and relieve symptoms associated with various medical conditions such as venous disorders, lymphedema, and post-surgical edema. Compression therapy products comprise garments, stockings, wraps, bandages, and pneumatic compression devices, among others. The market also involves healthcare professionals, including physicians, therapists, and caregivers, prescribing and administering compression therapy as part of comprehensive treatment regimens. Compression therapy plays a crucial role in enhancing patient comfort, promoting healing, and improving the quality of life for individuals with circulatory and lymphatic disorders, which is impelling product uptake.

Analyst’s Review 

The compression therapy market is foreseen to observe robust growth driven by factors such as the increasing prevalence of chronic conditions, technological advancements, and rising demand for non-invasive treatment options. Market progress is further fueled by growing awareness of preventive healthcare measures and the expanding adoption of compression therapy in homecare settings. Additionally, there is a growing emphasis on design, with manufacturers collaborating with fashion experts to create stylish compression wear that promotes patient confidence. Through these efforts, manufacturers are expanding their product lines and investing in clinical research and educational initiatives to highlight the therapeutic benefits of compression therapy across various medical conditions.

Compression Therapy Market Growth Factors

The rising number of road accidents globally serves as a significant driver for the compression therapy market. Road accidents often lead to various types of injuries, such as fractures, soft tissue damage, and trauma. These injuries necessitate compression therapy as part of treatment to promote healing, reduce swelling, and prevent complications such as deep vein thrombosis (DVT) or chronic venous insufficiency (CVI). Moreover, the growing popularity of motorized vehicles, coupled with increasing incidences of speeding, distracted driving, and inadequate infrastructure, further contributes to the surge in road accidents globally, impelling the need for compression therapy. Notably, according to WHO, approximately 1.19 billion individuals lose their lives due to road traffic crashes, with billions more sustaining non-fatal injuries. 

Various factors, such as the growing prevalence of chronic diseases, the rising geriatric population, and technological innovation are set to drive market growth. However, the lack of robust reimbursement policies and insurance coverage for compression therapy is likely to impede industry expansion. Coverage for compression therapy products and services are subject to stringent criteria, pre-authorization requirements, or limited coverage in certain regions. This variability in coverage hinders patient access and affordability, impacting product demand. To overcome this challenge, manufacturers are prioritizing comprehensive documentation and traceability, maintaining detailed records of product testing, validation studies, and manufacturing practices to facilitate regulatory audits.

Compression Therapy Market Trends

The market is likely to grow due to the growing trend of customization of the products. Individuals are seeking customized devices or products for their comfort and ease of living. Advancements in technology, such as 3D scanning and digital modeling, which enable healthcare providers to customize compression garments and devices according to individual patient needs, are foreseen to further contribute to this trend, thus propelling market growth. By developing tailored medicines or treatments according to patient’s needs, including their preferences, lifestyle, and medical history, healthcare professionals are making efforts to improve treatment adherence and optimize therapeutic outcomes, which is supporting industry development. Another key trend is the integration of technology into compression products, with smart garments capable of monitoring patient adherence and physiological metrics, which is likely to enhance the market demand.

Continuous efforts by healthcare professionals to better cater to patient requirements are anticipated to drive market growth. The integration of AI is enhancing the healthcare industry across various applications. (rewrite) One growing trend where AI is utilized is telemedicine and remote monitoring solutions. These methods are slated to reshape the compression therapy market. For instance, telemedicine allows virtual consultations between patients and healthcare providers, eliminating geographical barriers and facilitating timely access to care. Furthermore, wearable devices equipped with monitoring sensors enable remote tracking of patient progress and compliance with compression therapy protocols. These technologies enhance patient convenience and empower healthcare providers with real-time data for informed decision-making and early intervention when necessary, which is expected to facilitate market expansion.

Segmentation Analysis

The global compression therapy market is segmented based on technology, product, and region.

By Technology

Based on technology, the market is segmented into static compression therapy and dynamic compression therapy. The static compression therapy segment led the market in 2023, reaching a valuation of USD 2.61 billion. Static compression therapy helps manage numerous conditions, including edema, venous insufficiency, and lymphedema. It involves the continuous application of pressure to affected areas, facilitating improved blood circulation and reduced swelling. Its ease of use and proven efficacy make it a favored choice among both patients and healthcare providers, which is aiding segment growth.

By Product

Based on product, the market is classified into compression bandages, compression stockings, compression tapes, compression pumps, and compression braces. The compression bandages segment secured the largest revenue share of 33.82% in 2023. The segment is projected to experience robust growth in the coming years due to factors such as product high adoption in the treatment of edema and sports-related injuries, wherein it provides pain relief and pressure reduction. In addition, the ease of use of compression bandages lies in their ability to apply consistent pressure to the affected area, facilitating venous return, reducing edema, and alleviating symptoms associated with chronic venous insufficiency and lymphatic insufficiency. Moreover, the widespread adoption of these bandages is attributed to their benefits including high-tension sustainability, cost efficiency, extensibility, and elasticity. These benefits make compression bandages an appealing choice for both patients and healthcare providers, enabling tailored treatment solutions while ensuring patient comfort and compliance. Additionally, their versatility in treating a wide array of venous ailments, coupled with clinical endorsement and physician preference, are further solidifying their dominant position within the compression therapy market.

Compression Therapy Market Regional Analysis

Based on region, the global compression therapy market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

Compression Therapy Market Size & Share, By Region, 2024-2031

North America emerged as the leading market for compression therapy in 2023, attaining a valuation of USD 1.42 billion. The region's advanced healthcare infrastructure and the growing support for medical innovation are expected to drive regional market growth. Also, the region benefits from a high prevalence of chronic venous diseases, driven by factors such as sedentary lifestyles and an aging population. Technological advancements also play a crucial role in enhancing compression therapy products by making customizable products catering to individual needs. However, the region faces challenges from the high cost of products and adherence to policies. However, growing government initiatives as well as awareness toward compression therapy is expected to further propel market growth.

Europe is expected to experience significant growth over the forecast period at a CAGR of 5.84%. The region's growth is driven by various factors such as increasing awareness related to venous health and favorable reimbursement policies. Also, the major key players in the region are contributing to the market growth by offering innovative products and enhancing patients' ease of living. Technological advancement in products, such as the use of enhanced materials and the use of fashion trends to attract consumers, is also accelerating market growth. For instance, Bauerfeind broadened its selection of compression stockings by introducing two stylish fashion colors, wild berry, and deep petro, in their product, VenoTrain impuls. Thus, the market growth for compression therapy is expected to propel in the coming years.

Competitive Landscape

The global compression therapy market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, could create new opportunities for market growth.

List of Key Companies in Compression Therapy Market

  • 3M Company
  • Arjo
  • BIOCOMPRESSION SYSTEM
  • DJO Global
  • Gottfried Medical, Inc.
  • Medline Industries, LP.
  • Essity Health & Medical.
  • Paul Hartmann AG
  • Smith & Nephew PLCs
  • Tactile Medical

Key Industry Developments 

  • April 2024 (Product Launch): Bauerfeind introduced a new product, the AchilloTrain, designed to enhance Achilles tendon issues. This innovative compression support featured a high friction pad and optional heel wedges that seamlessly integrated into footwear, offering targeted relief for both acute and persistent irritations. With its specialized design, the AchilloTrain addressed the specific needs of individuals experiencing Achilles tendon issues, providing personalized and effective therapeutic solutions.

The global Compression Therapy Market is segmented as:

By Technology

  • Static Compression Therapy
  • Dynamic Compression Therapy

By Product

  • Compression Bandages
  • Compression Stockings
  • Compression Tapes
  • Compression Pumps
  • Compression Braces

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
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Frequently Asked Questions (FAQ's)
The global market is projected to reach USD 6.54 billion by 2031, growing at a CAGR of 6.06% from 2024 to 2031.
The global market was valued at USD 4.10 billion in 2023.
Technological innovation and growing awareness is expected to boost the market growth.
Top manufacturers of enteral feeding devices market are 3M Company, Arjo, BIOCOMPRESSION SYSTEM, DJO Global, Gottfried Medical, Inc., Medline Industries, LP., Essity Health & Medical, Paul Hartmann AG, Smith & Nephew PLC, Tactile Medical, and others.
Asia Pacific is the fastest growing region with the CAGR of 7.49% in the forecasted period (2024-2031) with the market value forecasted to reach at USD 1.60 billion.
By technology, static compression therapy will hold the maximum share in the compression therapy market with the revenue value of USD 3.99 billion in 2031.
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