Pune, Dec. 13, 2023 (GLOBE NEWSWIRE) -- “The Compression Therapy Market, as per the SNS Insider report, achieved a size of USD 3.61 Billion in 2022 and is projected to attain USD 5.62 Billion by 2030, with an anticipated compound annual growth rate of 5.7% from 2023 to 2030.”
Market Overview
Compression therapy finds its roots in ancient medical practices, but modern advancements have elevated its efficacy and versatility. The fundamental principle revolves around the application of external pressure to a particular area, typically achieved through specialized garments such as compression stockings, sleeves, or bandages. This pressure facilitates the contraction of underlying veins and promotes the upward flow of blood, preventing pooling and enhancing overall circulation.
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Market Analysis
The rising incidence of chronic venous diseases, diabetes, and obesity has amplified the demand for effective therapeutic interventions. Compression therapy emerges as a non-invasive and accessible solution, driving compression therapy market growth. With a global demographic shift towards an aging population, there is a higher prevalence of conditions such as venous insufficiency and arthritis. Compression therapy caters to the unique healthcare needs of the elderly, contributing to market expansion. Ongoing innovations in compression garment design and manufacturing technologies enhance patient comfort and compliance. Advanced materials and seamless integration with wearable technology further propel the adoption of compression therapy. Growing awareness among healthcare professionals and patients regarding the benefits of compression therapy has led to increased acceptance. This cultural shift towards preventive healthcare practices fuels the market's upward trajectory.
Key Company Profiles Listed in this Report are:
The Key Players are Bio Compression Systems, Inc., Cardinal Health, Hartmann AG, Julius Zorn GmbH, SIGVARIS, Medi GmbH & Co., ArjoHuntleigh, BSN Medical GmbH, Spectrum Healthcare, 3M Health Care and other players.
Compression Therapy Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.61 Bn |
| Market Size by 2030 | US$ 5.62 Bn |
| CAGR | CAGR of 5.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regions/Countries | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Conditions like venous insufficiency, lymphedema, and deep vein thrombosis are becoming more common due to factors such as ageing populations. • Increasing Awareness is the driver of the Compression Therapy Market. |
Market Dynamics Analysis
The compression therapy market is currently undergoing dynamic shifts driven by a combination of several key factors. One of the primary drivers propelling the market forward is the increasing prevalence of chronic conditions such as venous disorders, lymphedema, and deep vein thrombosis. The rising awareness among both healthcare professionals and patients regarding the therapeutic benefits of compression therapy in managing these conditions has led to a growing demand for compression garments and devices. Additionally, the aging population worldwide has contributed to the upsurge in vascular diseases, thereby fueling the adoption of compression therapy as an effective treatment option. However, despite the optimistic growth trajectory, the market is not without its challenges and restraints. One significant hurdle is the high cost associated with advanced compression therapy products, limiting their accessibility for certain patient demographics.
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Compression Therapy Market Segmentation:
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
Key Regional Developments
In North America, the compression therapy market is propelled by a robust healthcare infrastructure, increasing geriatric population, and a high prevalence of venous diseases. The region has witnessed a surge in demand for compression garments and devices due to lifestyle factors and a growing awareness of preventive healthcare measures. Europe stands as a significant player in the market, with a well-established healthcare system and a proactive approach toward adopting innovative medical technologies. The region's aging population, particularly in Western Europe, has resulted in an increased incidence of venous disorders, fostering the demand for compression therapy solutions. The Asia-Pacific region is experiencing a rapid expansion in the market due to a growing awareness of chronic diseases, lifestyle changes, and an expanding middle-class population.
Impact of Recession on Compression Therapy Market Growth
The compression therapy market is characterized by a competitive landscape with key players vying for market share. During a recession, companies in this sector may face challenges such as disrupted supply chains, increased production costs, and a shift in consumer preferences. Despite the challenges posed by a recession, the market is expected to rebound as the economy stabilizes. This research will conclude by providing insights into the potential growth trajectories for the market post-recession and offering strategic recommendations for industry players to build resilience, foster innovation, and adapt to the evolving market landscape.
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Key Takeaway from Compression Therapy Market Study
- Dynamic Compression Therapy, a cutting-edge approach to treating circulatory and lymphatic issues, is gaining prominence within the healthcare community. This segment employs state-of-the-art devices that apply intermittent pressure to extremities, facilitating enhanced blood circulation and reducing swelling.
- In parallel, the Retail Pharmacies segment is emerging as a vital distribution channel for compression therapy products. The shift in consumer preferences towards over-the-counter (OTC) solutions and the growing awareness of self-care have significantly augmented the role of retail pharmacies in the distribution network.
Recent Developments
- AIROS Medical has recently obtained FDA clearance for its state-of-the-art peristaltic pneumatic compression device, accompanied by a range of specially designed truncal garments. This significant regulatory milestone opens up new avenues for the company to bring advanced medical technology to the market, providing healthcare professionals and patients with cutting-edge solutions for managing various conditions.
- Therabody has introduced a groundbreaking solution with the launch of RecoveryAir Compression Therapy. Designed to cater to the diverse needs of individuals seeking optimal wellness, this compression therapy system stands out for its versatility and effectiveness in addressing muscle fatigue, soreness, and recovery after physical exertion.
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