Compression Therapy Market

Market Overview

The global compression therapy market size was valued at USD 3.98 billion in 2022 and is projected to reach USD 6.72 billion by 2031, registering a CAGR of 6% during the forecast period (2023-2031). Compression therapy market growth is driven primarily by the vast target patient population and the increased incidence of sports injuries and accidents.

Compression therapy is a medical treatment procedure that includes applying regulated pressure to specific regions of the body, often the limbs, to enhance blood flow and manage a variety of medical disorders. It is widely utilized for both therapeutic and preventive purposes, and it can be administered in various ways, including compression garments, stockings, bandages, and pneumatic compression devices.

A significant cause is increased venous problems such as leg ulcers, deep vein thrombosis, lymphedema, varicose veins, and blood clots. Products, particularly stockings and bandages, are increasingly used to treat the illnesses above, boosting market expansion. The pandemic of COVID-19 had a significant influence on human life and economic activity. The virus's fast spread and its great threat to human life resulted in many hospitalizations across multiple countries. The increased number of hospitalized patients boosted the global market share.

Market Dynamics

Market Drivers

Ageing Population

The aging population is a significant demographic trend in the world, with an increasing number of aged people in the global population. This demographic transition has far-reaching consequences for healthcare systems, including an increase in the prevalence of age-related health issues that frequently necessitate medical intervention, such as compression therapy. The risk of venous insufficiency and varicose veins increases with age. Swelling, soreness, and discomfort are common signs of many illnesses. A study published in the journal "Journal of Vascular Surgery: Venous and Lymphatic Disorders" discovered that the prevalence of varicose veins grows with age, affecting more than 60% of those over 60.

Furthermore, governments and healthcare systems are investing a rising portion of their finances to meet the healthcare needs of the aged population, including compression therapy services. According to the World Health Organization (WHO), global healthcare expenditure on aged care is rising rapidly, with healthcare systems changing to meet the needs of an aging population. The compression therapy market trend is projected to increase as the older population grows.

Market Restraints

Availability of Alternative Treatments

Many medical disorders that compression therapy is intended to treat have other treatment alternatives. Individuals may opt or be encouraged to pursue alternate therapies instead of or in addition to compression therapy, depending on the specific disease, patient preferences, and clinical advice. Compression stockings are commonly used to treat varicose veins. Alternative treatments, however, include endovenous laser treatment (EVLT) and radiofrequency ablation (RFA), which target the underlying venous insufficiency. Data from trials comparing EVLT, RFA, and compression stockings for varicose veins indicate that minimally invasive techniques such as EVLT and RFA can provide quicker symptom alleviation and may be preferred by certain patients. 

Furthermore, while compression stockings prevent and control DVT, anticoagulant medicines are the primary therapy choice. These drugs can help prevent clot spread and lower the risk of consequences. Clinical trial data, such as the EINSTEIN studies, show that anticoagulant medicines like rivaroxaban successfully prevent the recurrence of DVT and pulmonary embolism. Some people may combine alternative treatments with compression therapy to maximize their care. The availability of various treatment alternatives reflects the healthcare landscape's complexity and diversity of patient needs.

Market Opportunity

Technological Advancement

Technological advancements have significantly impacted the compression therapy industry, providing chances to improve treatment effectiveness, patient comfort, and overall market growth. These breakthroughs include creating smart compression clothing, wearable gadgets, and digital health solutions. Smart compression garments use sensors and electronic components to monitor and alter compression levels based on patient demands. Integrating digital health platforms and electronic health records (EHRs) allows healthcare providers to track and manage patients' compression therapy progress more efficiently. For example, companies such as Media GmbH and Co. KG create compression stockings constructed from novel materials that improve moisture management and enhance comfort. As technology advances, patients are anticipated to benefit from more tailored, convenient, and effective compression therapy alternatives, which can drive market expansion and enhance patient outcomes.

Regional Analysis

The global compression therapy market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global Compression Therapy market shareholder and is estimated to grow at a CAGR of 4% over the forecast period. This dominance can be attributed to reasons such as strong expenditure in R&D, new product introductions, and the high frequency of venous illnesses in nations such as the United States. The high frequency of disorders such as venous leg ulcers lymphedema, and the region's expanding senior population will fuel global market growth. The Lymphatic Education and Research Network states that over 10 million Americans suffer from lymphedema. 

Furthermore, some causes for the significant market growth include increased knowledge about the early detection of venous ulcers, arthritis, sports injuries, and patients involved in car accidents. According to the Brain Injury Research Institute's 2021 statistics, approximately 1.6 million to 3.8 million recreation and sport-related concussions occur annually in the United States. Furthermore, according to Sports Injury Statistics Update 2022, more than 3.5 million injuries occur yearly in the United States out of 30 million children and teens participating in organized sports, resulting in some loss of participation time. As a result, the rising frequency of sports injuries in this region will lead to greater acceptance of compression therapy during injury healing, propelling the market growth.

Europe is anticipated to exhibit a CAGR of 4.3% over the forecast period. The increase in the number of new product releases by prominent companies is expected to boost regional market expansion. This is explained by the increased number of geriatric patients and athletes suffering from venous and muscle problems. Germany is a fairly busy country in terms of sports and games. Numerous world-class sports are played there, increasing the number of people wounded due to sports. According to Springer Nature Switzerland AG, the overall injury incidence for football in Germany during the UEFA Regions Cup 2019 was 12.5 per 1,000 hours of total football exposure and 43.5 per 1,000 hours of match exposure.

Furthermore, rapid urbanization and developments in the healthcare business are two factors expected to enhance Europe's market growth rate. Also, the U.K. compression therapy market had the biggest market share, while the German compression therapy market was the fastest expanding in the area.

According to compression therapy market insights, Asia-Pacific is expected to grow fastest in the compression treatment market. The growing elderly population, rising disposable income, and increasing patient pool with chronic venous and lymphatic illnesses are expected to drive regional market expansion. Furthermore, rising disposable incomes, population expansion, increased healthcare spending, and increased physician and patient knowledge are just a few market-driving factors. Furthermore, the China compression therapy market had the biggest market share, while the India compression therapy market was the fastest expanding in the area.

The market in Latin America, the Middle East, and Africa is predicted to grow at a moderate CAGR Because of rising penetration of advanced goods, high unmet needs, and improving healthcare infrastructure.

Segmental Analysis

The global compression therapy market is segmented based on product, application, end-user, and region.

The product is further segmented into Compression Garments, Compression Bandages, Compression Stockings, and Compression Pumps.

Compression Bandages is the highest shareholder in the market. Compression bandages are elastic bandages that are put over limbs or affected areas to exert progressive pressure. They come in a variety of widths and lengths. Compression bandages are frequently used in wound care as well as the treatment of acute and chronic edema. They aid in reducing edema and promoting wound healing by increasing blood and lymphatic flow. The cost-effectiveness, ease of application, and compatibility for diverse wound types all impact the market for compression bandages. Bandage material advancements and self-adhesive choices have had an impact on the market.

Compression garments are various products that give regulated pressure to specific body regions, such as sleeves, gloves, vests, and full-body suits. Material technology developments enable more comfortable and breathable designs in the compression garment sector. Custom-fit and smart compression clothing are growing trends in this market.

The segment can be bifurcated by application into Venous leg ulcer, Deep Vein Thrombosis (DVT), and lymphedema.

Lymphedema influenced the market growth. Lymphedema is a chronic illness that causes swelling and discomfort due to the accumulation of lymphatic fluid in tissues. It might be congenital or secondary (due to surgery, radiation, or infection). Factors influencing the lymphedema segment include the prevalence of lymphedema, the availability of specialized clinics, and improvements in compression therapy devices tailored for lymphedema management. The increased prevalence of lymphedema and the increasing usage of improved solutions for its treatment are attributable to the growth. Compression pumps are becoming more widely acknowledged as a useful treatment for lymphedema because they improve venous pumps in lymphatic patients.

Venous leg ulcers are open sores on the lower legs caused by chronic venous insufficiency, in which the veins fail to return blood to the heart properly. These ulcers can be painful and difficult to heal. The increasing prevalence of this ailment and the launch of innovative compression therapy devices for its treatment are likely to drive segment growth throughout the projection period.

Based on End-User, the market is sub-segmented into Hospitals and clinics, nursing care centers, and home care settings.

Hospitals and clinics hold the maximum share in the market. Outpatient clinics and hospitals are primary healthcare facilities where patients receive diagnosis, treatment, and medical care. These facilities provide various medical services and are frequently outfitted with specialist technology and healthcare staff. The availability of skilled medical professionals, diagnostic instruments, and a large patient base supports the hospital and clinic segment of the compression therapy industry. Hospitals are projected to lead the market due to the simple availability of modern products, the presence of trained healthcare practitioners, and attractive reimbursement for this therapy.

Patients' residences are included in home care settings, where family members, home healthcare providers, or the patients provide healthcare services. Patients benefit from the convenience and comfort that home care provides. The home care segment is expected to rise, with the greatest CAGR. This is attributable to expanding the geriatric patient pool and a growing desire for goods used in home care settings to treat venous and lymphatic problems.

Recent Developments

• September 2023, Cardinal Health Introduces the Kangaroo OMNITM Enteral Feeding Pump
• In May 2023, 3M will invest roughly $150 million to develop biopharma filtration technology capabilities.