New York, United States, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Compression therapy is a medical treatment process that involves applying controlled pressure to certain body areas. Usually, the limbs improve blood flow and cure several medical conditions. It is widely used for both therapeutic and preventive purposes, and it can be delivered in various forms, such as compression garments, stockings, bandages, and pneumatic compression devices.
Increased venous issues, such as leg ulcers, deep vein thrombosis, lymphedema, varicose veins, and blood clots, are a key cause. Products, notably stockings and bandages, are increasingly being utilized to treat the ailments above, fueling market growth. The COVID-19 pandemic had a tremendous impact on human life and economic activity. Because of the virus's rapid spread and serious threat to human life, many people were hospitalized across various countries. Compression therapy market share increased due to the rise of hospitalized patients.
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Market Dynamics
Aging Population Boosts the Market Growth
Increasing numbers of older adults are a global demographic trend. This demographic shift increases age-related health conditions that require medical intervention, like compression therapy, which has far-reaching effects on healthcare systems. Age increases venous insufficiency and varicose veins risk. Many illnesses cause swelling, soreness, and pain. Research in "The Journal of Vascular Surgery: Venous and Lymphatic Disorders" found that over 60% of those over 60 have varicose veins.
Governments and healthcare systems spend more on elderly healthcare, particularly compression therapy. Global healthcare expenditure on elderly care is expanding rapidly, with healthcare systems evolving to match the requirements of an aging population, according to the WHO. The compression therapy market trend will likely rise as the aging population rises.
Technological Advancement Creates Tremendous Opportunities
Technology has changed the compression therapy sector, improving treatment efficacy, patient comfort, and market growth. These innovations include smart compression garments, wearable tech, and digital health. Sensors and electronics in smart compression garments monitor and adjust compression levels to patient needs. Integrating digital health platforms and EHRs helps healthcare providers track and manage compression therapy progress. Medi GmbH & Co. KG makes compression stockings using innovative materials for better moisture management and comfort. As technology progresses, patients will have more personalized, convenient, and effective compression therapy options, which can boost market growth and patient outcomes.
Regional Analysis
The North American compression therapy market increased quickly over the forecast. This supremacy is due to robust R&D spending, new product releases, and high venous disease rates in countries like the US. High rates of venous leg ulcers and lymphedema and a growing elderly population will drive compression therapy market growth. Per the Lymphatic Education & Research Network, about 10 million Americans have lymphedema.
Additionally, greater awareness of early venous ulcers, arthritis, sports injury, and vehicle accident detection has driven market growth. In 2021, the Brain Injury Research Institute reported 1.6 million to 3.8 million recreation and sports-related concussions in the US. Out of 30 million children and teens playing organized sports in the US, more than 3.5 million suffer injuries yearly, resulting in lost time. Thus, increased sports injuries in this region will increase compression therapy acceptability during injury healing, driving market growth.
Europe is projected to remain second in this market. New product introductions by major corporations should promote regional market growth. This is because more older people and athletes have venous and muscular difficulties. Germany is active in sports and games. Numerous world-class sports are played there, increasing sports-related injuries.
Furthermore, Springer Nature Switzerland AG reported 12.5 football injuries per 1,000 hours of total football exposure and 43.5 per 1,000 hours of match exposure in Germany during the UEFA Regions Cup 2019. Rapid urbanization and healthcare advances should boost Europe's market growth. UK compression therapy had the largest market share, while German compression therapy was the fastest-growing.
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Key Highlights
- The global compression therapy market size was valued at USD 4.18 Billion in 2024 and is projected to reach from USD 4.49 Billion in 2025 to USD 6.72 Billion by 2033, registering a CAGR of 7.30% during the forecast period (2025-2033).
- Compression Garments, Compression Bandages, Compression Stockings, and Compression Pumps are the many product categories. Compression Bandages is the market's largest shareholder.
- Application into Venous leg ulcer, Deep Vein Thrombosis (DVT), and lymphedema can bifurcate the segment. Lymphedema had an impact on market growth.
- The market is divided into three end-user segments: hospitals and clinics, nursing care centers, and home care settings. Hospitals and clinics have the largest market share.
- Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America is the most significant global cosmetic dyes market shareholder and is estimated to grow at a CAGR of 4% over the forecast period.
Competitive Analysis
The key players in the global compression therapy market are Cardinal Health, Julius Zorn GmbH, Hartmann AG, Medi GmbH & Co., SIGVARIS, BSN Medical GmbH, ArjoHuntleigh, 3M Health Care, Spectrum Healthcare, Bio Compression Systems Inc., Stryker, and Gottfried Medical.
Recent Developments
- In September 2023, Cardinal Health introduced the Kangaroo OMNITM enteral feeding pump.
- In June 2023, 3M invested around USD 150 million to develop biopharma filtration technology capabilities.
Segmentation
- By Product
-
- Compression Garments
- Compression Bandages
- Compression Stocking
- Compression Pumps
- Others
- By Application
-
- Venous Leg Ulcer
- Deep Vein Thrombosis (DVT)
- Lymphedema
- Others
- By End-User
- Hospitals and Clinics
- Nursing Care Centers
- Home Care Settings
- Others
- By Region
-
- North America
- Asia-Pacific
- Europe
- The Middle East and Africa
- Latin America
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