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The compression therapy market size is forecast to increase by USD 1.24 billion between 2022 and 2027, accelerating at a CAGR of 5.85%. In 2017, the US held the largest market share, projecting an annual revenue of USD 0.94 billion. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments. The market is propelled by the rising incidence of chronic venous diseases and lymphedema, along with the expanding elderly population susceptible to venous disorders. Moreover, increasing awareness regarding the advantages drives market growth. However, challenges persist, including inadequate reimbursement coverage, compliance issues due to discomfort and inconvenience, and the high cost associated with compression garments and devices.
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The market is witnessing significant growth driven by the increasing prevalence of vein disorders such as varicose veins, deep vein thrombosis (DVT), and venous ulcers. With a rising geriatric population and a surge in orthopedic procedures and sports injuries, the demand for devices is on the rise to manage conditions like leg ulcers and lymphedema effectively. Technological advancements in wound management, coupled with the growing awareness about the benefits in reducing leg and foot volume and preventing blood clots, are further fueling market growth.
Additionally, there is a notable trend towards the adoption among adolescent athletes and individuals recovering from road accidents, contributing to the expansion of the market. As more research studies and clinical trials highlight the efficacy in treating venous diseases and promoting vascular health, the market is poised for continuous innovation and product development. Moreover, the integration of advanced materials and wearable technologies in compression garments is enhancing patient comfort and compliance, driving the market towards a trajectory of sustained growth.
The market is being driven by the escalating prevalence of chronic venous diseases and lymphedema worldwide. The surge in cases of lymphedema and chronic venous disorders is profoundly propelling the global market forward. A substantial portion of the global population is grappling with chronic venous ailments like varicose veins and venous ulcers. Consequently, the demand for devices has soared as they offer effective solutions for managing these conditions. These devices, including stockings, sleeves, and wraps, play a crucial role in symptom relief, improving blood and lymphatic flow, and reducing edema. Their growing popularity is significantly enhancing patients' quality of life, further fueling market growth. As the prevalence of chronic venous diseases continues to rise, the demand for compression therapy devices is expected to surge in the coming years, driving market expansion.
The static segment was the largest segment and was valued at USD 1.69 billion in 2017. One of the main reasons for the growing popularity of these is due to its success in improving blood flow, lowering swelling, and treating a variety of venous problems, including edema and venous ulcers. As it offers patients a non-invasive and affordable therapy option, this technology is frequently used in clinical and homecare settings. Several vendors offer patients a broad range of these items, such as stockings, wraps, and sleeves. Hence, such factors are expected to drive this segment which in turn will drive the growth during the forecast period.
North America is estimated to contribute 40% to the growth of the global market during the forecast period. Factors such as the high prevalence of venous diseases and chronic wounds are significantly contributing in North America, making it one of the dominating markets among certain countries. Some of the prominent manufacturers of these stockings, wraps, and devices in North America are Medi, Sigvaris, and DJO, among others.
Additionally, certain legal bodies under the government, such as the Centers for Medicare and Medicaid Services (CMS) and the US Food and Drug Administration (FDA) oversee safety and reimbursement requirements for these devices. Thus, factors such as partnerships between businesses and healthcare organizations are expected to drive the global market in the region during the forecast period.
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The market is fragmented in nature. Some significant players include 3M Co., Bio Compression Systems, Bosl Medizintechnik GmbH, Cardinal Health Inc., ConvaTec Group Plc.
The research report also includes detailed analyses of the competitive landscape and information about 15 companies, including:
DJO Global Inc., INNOTHERA, Julius Zorn GmBH, medi GmbH and Co. KG, Medline Industries LP, Medtronic Plc, Mego Afek A.C. Ltd, Paul Hartmann AG, Sanyleg S.r.l., SIGVARIS AG, Smith and Nephew plc, Spectrum Healthcare, Stryker Corp., Tactile Systems Technology Inc., and THUASNE
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
The Market is growing rapidly due to factors like an aging population, increasing obesity rates, and rising awareness about healthcare. This market offers various technologies, such as Static Compression Therapy and Dynamic Compression Therapy, to address conditions like Upper Extremity Deep Vein Thrombosis (UEDVT) and Deep Vein Thrombosis (DVT), often related to orthopedic procedures and sports injuries. These products like Compression Pumps and Compression Braces, are used in the treatment of Venous Leg Ulcers, Lymphedema, and other conditions. The market is also driven by advancements in technology, including Telemedicine.
The market is also witnessing significant growth driven by factors such as the rising geriatric population and increasing healthcare awareness levels. Technological advancements are also contributing to market expansion. The market offers a range of products catering to various needs, such as venous leg ulcers, deep vein thrombosis treatment, and lymphedema treatment. The compression garments segment is particularly experiencing a surge in demand, fueled by increased participation in sports activities and the need for preventive and rehabilitative care in cases of road accidents and burn cases. Rehabilitation after brain injury or due to conditions like arthritis also drives the growth. The industry is characterized by ongoing research, exemplified by the Brain Injury Research Institute, and collaborative efforts to advance compression therapy.
The global market is witnessing significant growth, driven by a myriad of factors and technological advancements in the healthcare industry. Compression therapy, categorized into static and dynamic technologies, has gained traction across various applications, such as venous leg ulcers, deep vein thrombosis treatment, and lymphedema treatment, among others. With the rise in chronic venous diseases and lymphatic disorders globally, the demand for compression therapy products like compression garments, compression pumps, and compression braces has surged. Additionally, the market is witnessing an uptick in demand from segments like sports medicine, orthopedic diseases, and diabetes-related ailments.
The market, comprising both static and dynamic technologies, is witnessing substantial growth driven by increasing demand for compression garments, compression pumps, and compression braces. With applications ranging from venous leg ulcers to deep vein thrombosis treatment and lymphedema treatment, the market is expanding rapidly. Key trends include the rising prevalence of injury recurrence and hypertrophic scars, along with advancements in scar formation and maturation processes. Countries like France are emerging as prominent markets for compression therapy products, especially for varicose vein treatment and leg ulcer treatment. Additionally, the market is witnessing significant traction in addressing diabetes-related diseases and catering to hospitalized patients. With technological innovations like pneumatic compression therapy and Normatec compression therapy, the market is poised for further growth, offering solutions for various medical conditions worldwide.
Furthermore, collaborations, acquisitions, and mergers among key players in the industry are driving market expansion. Countries like France are emerging as key markets for compression therapy due to the increasing prevalence of musculoskeletal injuries, lymphatic disorders, and hospitalizations. The telemedicine market is also playing a significant role in the distribution and accessibility of compression therapy products, especially in developing nations. However, challenges such as inefficient compensation schemes and inadequate health infrastructure in emerging economies pose hurdles to market growth. Nevertheless, with growing awareness about the benefits of compression therapy, technological innovations, and rising disposable income in developing countries, the Market is poised for substantial growth in the coming years, catering to the increasing healthcare needs of a diverse global population.
Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.85% |
Market growth 2023-2027 |
USD 1.24 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.67 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Germany, France, China, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Bio Compression Systems, Bosl Medizintechnik GmbH, Cardinal Health Inc., ConvaTec Group Plc, DJO Global Inc., INNOTHERA, Julius Zorn GmBH, medi GmbH and Co. KG, Medline Industries LP, Medtronic Plc, Mego Afek A.C. Ltd, Paul Hartmann AG, Sanyleg S.r.l., SIGVARIS AG, Smith and Nephew plc, Spectrum Healthcare, Stryker Corp., Tactile Systems Technology Inc., and THUASNE |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Therapy
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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