Global Compression Therapy Market By Technique (Static Compression Technique, Dynamic Compression Technique), By Product (Compression Garments, Compression Bandages, Compression Tapes, Other), By Application (Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Other), By Distribution Channel (Hospital & Clinics, Pharmacies & Retailers, Home Care Settings, Other), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033
- Published date: Jan 2024
- Report ID: 40494
- Number of Pages: 329
- Format:
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Report Overview
The Global Compression Therapy Market size is expected to be worth around USD 7.3 Billion by 2033, from USD 4.1 Billion in 2023, growing at a CAGR of 5.9% during the forecast period from 2024 to 2033.
An elastic device is used to administer medical compression therapy. It provides regulated pressure to the limbs and other areas of the body. The device presses vein walls together, increasing circulation. Compression therapy is commonly used after surgery to reduce swelling and improve leg circulation. Walking, or any other activity that involves leg movement, causes contraction and relaxation of the calves muscles. This helps to improve blood flow from the lower extremities to the heart.
Various factors that contributed to the growth of the market were the increased incidence of vein-related conditions such as deep vein thrombosis, leg ulcers, varicose veins, lymphedema, and blood clots. Additionally, for the treatment of these disorders, there is a remarkable increase in the utilization of products, mostly stockings and bandages. This factor propels the growth of the market.
Key Takeaways
- Market Growth: Compression Therapy Market set to reach USD 7.3 Billion by 2033, growing at a 5.9% CAGR from USD 4.1 Billion in 2023.
- Technique Analysis: Static compression technique dominated the market in 2023 (53.7% share).
- Product Preference: Compression bandages account for 38% market share, favored for treating edema and venous disorders in the lower limb.
- Application Focus: Varicose vein treatment holds a significant market share of 34.5% in 2023, demonstrating a growing preference for compression therapy in managing this condition.
- Distribution Dynamics: Hospitals & clinics dominate distribution with a 53% market share in 2023, while e-commerce platforms exhibit the fastest growth.
- Regional Dominance: North America leads with a 36.2% market share, amounting to USD 1.48 Billion, driven by an aging population and rising obesity rates.
Driving Factors
Rising Prevalence of Lymphatic and Venous Disorders Will Likely Drive the Market Growth.
Lymphatic and venous disorders are becoming more common globally. This has led to a rise in numerous challenges such as immobility, previous deep vein thrombosis, pregnancy, obesity, and varicose veins, which can lead to these health issues. As awareness about advanced treatments like compression garments and other devices spreads, people are finding hope.
These innovative solutions offer promising ways to manage and ease the symptoms of these disorders, with growing awareness and better options for treatment. These above-mentioned factors will likely propel the market growth in the upcoming years.
Restraining Factors
Limited Awareness about the Compression Therapy
The limited awareness of compression as a viable treatment option for managing lymphatic and venous disorders in numerous developing countries could impede the growth of the compression therapy market. Additionally, the high cost associated with compression pumps poses a significant obstacle.
However, the market may witness potential expansion in the future due to high competition, which could lead to pricing adjustments. Furthermore, prominent companies are taking initiatives to raise awareness about the availability of compression therapy for treating conditions like venous leg ulcers and lymphedema, creating opportunities for growth in the upcoming years.
Technique Analysis
Static Compression Technique Dominated the Market
On the basis of technique segment, the market is divided into static and dynamic compression techniques. Among them, the static compression technique dominated the market with a share of 53.7% in 2023, due to this technology’s high convenience and user-friendly attributes. The significant portion of the market captured by this segment can be attributed to the ease of access to these products, making them highly effective in treating edema & sports-related injuries and providing relief from pain and pressure.
Moreover, the advantages associated with static technology have been a fascinating factor, and this influence both patients and physicians. These factors can be attributed to the segment growth.
Product Analysis
Compression Bandages Accounted 38% Market Share in 2023
On the basis of product segment, the market is divided into compression garments, compression bandages, compression tapes, compression pumps, compression ortho braces, and other products. Among them, the compression bandages collected the majority of the market share.
The popularity of these bandages is increasing due to the increasing adoption of bandages for treating edema and venous and lymphatic disorders in the lower limb as they are cost-effective and sustain high tension. Moreover, they possess properties such as elasticity and flexibility. Also, healthcare professionals extensively prefer these bandages because it improves treatment outcomes.
Application Analysis
Varicose Vein Treatment Has Acquired 34.5% Market Share in 2023
On the basis of application segment, the market is divided into deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, varicose vein treatment, and others. The varicose vein treatment holds the maximum share of 34.5%. Among these, the varicose vein treatment has emerged as a dominating segment in the market. It is expected to maintain its dominance in the forecast period owing to the growing preference for compression therapy in managing varicose veins.
Moreover, continuous advancements in the devices utilized for such treatments have significantly fueled the demand for compression therapy devices. These developments are contributing to the overall growth and popularity of compression therapy in the medical field.
Distribution Channel Analysis
The Hospital & Clinics Segment Collected 53% of Market Share in 2023
On the basis of distribution channel, the market is divided into hospitals & clinics, pharmacies & retailers, home care settings, e-commerce platforms, and other distribution channels. Among them, the hospital & clinics segment has collected the majority of the market share, and it is expected to dominate the market during the forecast period.
Moreover, the e-commerce platforms were estimated to grow at the fastest CAGR owing to the increase in sales of compression therapy products for treatment of diseases through the platform.
Market Segments
By Technique
- Static Compression Technique
- Dynamic Compression Technique
By Product
- Compression Garments
- Compression Bandages
- Compression Tapes
- Compression Pumps
- Compression Ortho Braces
- Other Products
By Application
- Varicose Vein Treatment
- Deep Vein Thrombosis Treatment
- Lymphedema Treatment
- Leg Ulcer Treatment
- Other Applications
By Distribution Channel
- Hospital & Clinics
- Pharmacies & Retailers
- Home Care Settings
- E-commerce Platforms
- Other Distribution Channels
Growth Opportunity
Adoption of Healthy Lifestyle and Rising Geriatric Population
Compression therapy offers numerous opportunities as people prioritize health and active lifestyles. Popular among athletes and those seeking relief from various conditions, compression garments are on the rise. Also, this therapy has significant use in sports medicine, aiding in injury prevention, muscle fatigue reduction, and faster recovery.
Moreover, their medical applications for managing conditions like lymphedema and deep vein thrombosis contribute to further market growth. With advancements in materials and design, compression wear appeals to a broader customer base. The increasing aging population also drives demand for circulation-improving products, creating new possibilities. The compression therapy market holds diverse potential for growth, innovation, and improving people’s well-being through technology and research advancements.
Latest Trends
Rising Popularity of Compression Therapy among Athletes and Integration of Smart Technology to Surge the Market Growth
Trends in the Compression Therapy Market include the growing popularity among athletes and fitness enthusiasts, increasing medical applications for managing various conditions, expansion into everyday wear with fashionable options, a focus on material and design innovations, emerging smart compression wear with technological integration, rising demand for sustainable and eco-friendly options, the influence of the aging population, e-commerce growth, customization, and personalization options, and cross-industry collaborations driving innovation.
Regional Analysis
North America Has Dominated the Compression Therapy Market
North America has collected the majority of the market share of 36.2% and holds USD 1.48 Billion market value for the year, and leads the market owing to the increasing elderly population and rising obesity rates in the region over recent years. Additionally, favorable government reimbursement policies and growing healthcare awareness have played pivotal roles in the region’s growth. Moreover, the escalating burden of chronic vein disorders (CVD) has further propelled market expansion in North America.
Asia Pacific region is expected to experience substantial growth throughout the forecast period. This growth is fueled by considerable investments in R&D by key industry players and initiatives to introduce products at more affordable prices. Furthermore, rising disposable incomes increase the possibility of product usage, while continuous improvements in healthcare infrastructure present lucrative growth opportunities in the region.
Key Regions
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
Stryker made a Significant Announcement about the Inauguration of a New R&D Facility in India
Manufacturers in the market are actively implementing various strategic initiatives to establish a robust position and enhance their overall presence. These initiatives encompass partnership & collaboration, acquisition & mergers, and increasing investments in research and development (R&D). By expanding their R&D capabilities, key players can effectively develop and launch innovative products, thereby expanding their product portfolio and securing a strong market position.
For instance, in June 2022, Stryker made a significant announcement about the inauguration of a new R&D facility in India. Covering an area of 150,000 square feet, this facility aims to accelerate innovation not only in India but also on a global scale. Additionally, this move reinforces the company’s commitment to improving healthcare worldwide.
Top Key Players
- Stryker Corporation
- Cardinal Health
- Medi GmbH & Co.
- BSN Medical GmbH
- Julius Zorn GmbH
- 3M Health Care
- Bio Compression Systems, Inc.
- Gottfried Medical
- Hartmann AG
- Other Key Players
Recent Developments
- In August 2023, Medi GmbH & Co. made a strategic move by acquiring Lympha Press International, a prominent player in intermittent pneumatic compression (IPC) therapy devices. This acquisition enhances Medi’s product range in the dynamic compression sector.
- In June 2023, 3M Health Care responded to the rising demand for comfortable compression wear with the introduction of a new line of compression socks and stockings under the Futuro brand. These products boast improved graduated compression and advanced moisture-wicking technology, catering to everyday use.
- In April 2023, BSN Medical GmbH joined forces with PhysiPod, a digital therapeutics company. Together, they are developing a connected compression garment system that syncs with a mobile app for personalized treatment plans and remote monitoring. This aligns with the growing trend of incorporating digital health solutions in compression therapy.
Report Scope
Report Features Description Market Value (2023) USD 4.1 Billion Forecast Revenue (2033) USD 7.3 Billion CAGR (2024-2033) 5.6% Base Year for Estimation 2023 Historic Period 2018-2022 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered By Technique- Static Compression Technique, Dynamic Compression Technique; By Products- Compression Garments, Compression Bandages, Compression Tapes, Compression Pumps, Compression Ortho Braces, and Other Products; By Application- Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment, and Other Applications; By Distribution Channel- Hospital & Clinics, Pharmacies & Retailers, Home Care Settings, E-commerce Platforms, and Other Distribution Channels. Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; The Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA. Competitive Landscape Stryker Corporation, Cardinal Health, Medi GmbH & Co., BSN Medical GmbH, Julius Zorn GmbH, 3M Health Care, Bio Compression Systems, Inc., Gottfried Medical, Hartmann AG, and Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF). Frequently Asked Questions (FAQ)
What is the projected CAGR at which the Compression Therapy market is expected to grow at?The Compression Therapy market is expected to grow at a CAGR of 5.9% (2024-2033).
List the segments encompassed in this report on the Compression Therapy market?Market.US has segmented the Compression Therapy market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Technique the market has been segmented into Static Compression Technique, Dynamic Compression Technique. By Product the market has been segmented into Compression Garments, Compression Bandages, Compression Tapes, Other. By Application the market has been segmented into Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Other. By Distribution Channel the market has been segmented into Hospital & Clinics, Pharmacies & Retailers, Home Care Settings, Other.
List the key industry players of the Compression Therapy market?Stryker Corporation, Cardinal Health, Medi GmbH & Co., BSN Medical GmbH, Julius Zorn GmbH, 3M Health Care, Bio Compression Systems, Inc., Gottfried Medical, Hartmann AG, Other Key Players
Which region is more appealing for vendors employed in the Compression Therapy market?North America is expected to account for the highest revenue share of 36.2% and boasting an impressive market value of USD 1.48 billion. Therefore, the Compression Therapy industry in North America is expected to garner significant business opportunities over the forecast period.
Name the key areas of business for Compression Therapy?The US, Canada, India, China, UK, Japan, & Germany are key areas of operation for the Compression Therapy Market.
- Stryker Corporation Company Profile
- Cardinal Health
- Medi GmbH & Co.
- BSN Medical GmbH
- Julius Zorn GmbH
- 3M Health Care
- Bio Compression Systems, Inc.
- Gottfried Medical
- Hartmann AG
- Other Key Players
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