VANCOUVER, BC, Jan 23, 2023 /PRNewswire/ -- The compression therapy market size reached USD 2.99 Billion in 2021 and is expected to register a CAGR of 5.2% during the forecast period, according to latest analysis by Emergen Research. One key factor driving market revenue growth is rising incidence of sports accidents and injuries. Newer static compression techniques, such as tailored and adjustable goods, have been developed to reduce patient burden and promote treatment adherence. Elastic stockings and compression bandaging have played significant roles in the provision of successful treatments. Despite having a lower acceptance rate, pneumatic compression devices have made similar advancements. Despite the slow pace of innovation in the pneumatic compression industry, certain manufacturers have created sophisticated pump systems that apply sophisticated pressure profiles to the patient's afflicted body parts.
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Drivers:
Demand for compression therapy has significantly increased over the years owing to larger product affordability and market availability. For instance, on 13 April 2022, Koya Medical stated that it has officially begun selling its Dayspring active compression device in the United States. Dayspring for the upper extremities has reportedly been on the market since 2021. The organization can now more effectively assist clients with venous illnesses and lymphedema owing to its development into lower extremity treatment. Market revenue growth of compression therapy is also increased owing to growing incidence of sports accidents and injuries. For instance, sports- and recreation-related injuries grew 20% in 2021 after reaching a record low in 2020. Cycling, exercising, and basketball are the sports that cause injuries the most commonly. Compression is a significant factor in treating injuries as soon as they are encountered. Compression is essential for a number of reasons, such as improving blood as well as fluid circulation, lowering discomfort, and minimizing swelling.
Restraints:
There are numerous issues and difficulties facing the compression therapy industry. Low patient compliance intended for compression garments is one such factor. Regardless of gender, age, cause of chronic venous disease (CVD), severity of the disease, or length of symptoms, patients with CVD, for instance, have an extremely high nonuse and noncompliance rate with compressive stockings. Stockings may not be worn for a variety of reasons, including noncompliance, inapplicability, and inefficiency. Wear-comfort issues and a vague feeling of limitation imposed by the stockings could be the root causes of noncompliance, hence, limiting market revenue growth.
Growth Projections:
The compression therapy market is expected to register a CAGR of 5.2% over the forecast period and revenue is projected to increase from USD 2.99 Billion in 2021 to USD 4.77 Billion in 2030. In order to improve blood flow as well as address other circulatory issues, compression treatment is a very effective method of wound care. Those with chronic venous illnesses are often the only ones that utilize it. Given that disorders such as VLU, diabetic foot ulcers, pressure injuries, and others necessitate chronic wound care in long-term care settings and outpatients, health systems currently profit from managing chronic wounds to the tune of almost USD 100 billion annually.
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Current Trends and Innovations:
The compression therapy industry is undergoing gradual change as a result of new technology and innovations. Smart compression treatment devices, which are systems that employ miniature and lightweight actuators and electronics to regulate the applied pressure, are made possible by emerging microtechnologies and novel materials. Implementing two-component compression stocking systems will help individuals optimize their ulcer therapy. Short stretch bandages and multi-component compression bandages have both been shown to be effective throughout the edema's decongestion phase. More developments in the field are required considering it is still in its relative infancy. It takes time to develop widespread compression dressing systems that adhere to ergonomic, medical, and financial standards. The creation of smart compression dressings using miniature actuators offers a great deal of potential for improved compliance, mobility, patient satisfaction, and therapeutic effects.
Strategic Initiatives:
Major companies included in the market report are 3M, Arjo, Biocompression Systems, Essity Medical Solutions, Cardinal Health, Convatec Inc., DJO, LLC, Juzo, Paul Hartmann AG, and Sanyleg Srl.
- On 08 August 2022, the SafeGuard Focus Cool Compression Device, a significant innovation to its SafeGuard platform, has been introduced by Merit Medical Systems, Inc., a prominent global producer, and marketer of healthcare equipment. It is a component of a larger cardiac portfolio that also includes the tools and supplies required for interventional cardiac resynchronization treatment, lead extraction, electrophysiology, and maintenance of cardiac rhythm.
- On 20 September 2022, with a total investment of USD 165 million, Therabody, a pioneer in wellness technology, announced the completion of its expansion equity round as well as the release of eight innovative products that broaden the brand's focus to whole-body wellness with advantages for performance, stress, pain, and sleep.
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Scope of Research
Report Details | Outcome |
Market Size in 2021 | USD 2.99 Billion |
CAGR (2022-2030) | 5.2 % |
Revenue Forecast to 2030 | USD 4.77 Billion |
Base Year for Estimation | 2021 |
Historical Data | 2021-2030 |
Forecast Period | 2022-2030 |
Quantitative Units | Revenue in USD Million and CAGR in % from 2022 to 2030 |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments Covered | Product, technique, application, distribution channel, and region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, UK, France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of Middle East & Africa |
Key Companies Profiled | 3M, Arjo, BIOCOMPRESSION SYSTEMS, Essity Medical Solutions, Cardinal Health, Convatec Inc., DJO, LLC, Juzo, PAUL HARTMANN AG, and Sanyleg Srl |
Customization Scope | 10 hours of free customization and expert consultation |
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Emergen Research has segmented compression therapy market on the basis of product, technique, application, distribution channel, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Compression Garments
- Compression Stockings
- Compression Bandages and Wraps
- Others
- Compression Pumps
- Compression Braces
- Technique Outlook (Revenue, USD Billion; 2019-2030)
- Static Compression Therapy
- Dynamic Compression Therapy
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Varicose Vein Treatment
- Deep Vein Thrombosis Treatment
- Lymphedema Treatment
- Leg Ulcer Treatment
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Pharmacies & Retailers
- Hospitals & Clinics
- E-Commerce Platforms
- Regional Outlook (Revenue, USD Billion, 2019 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- UAE
- Saudi Arabia
- Africa
- Rest of Middle East
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