The global compression therapy market size accounted for USD 4.58 billion in 2023 and is estimated to grow around USD 8.40 billion by 2033 with a CAGR of 6.25% from 2024 to 2033.
Key Points
- North America dominated the market with the major market share of 44% in 2023.
- Asia Pacific is expected to witness the fastest growth during the forecast period.
- By product, the compression bandages segment has accounted for the largest market share of 44% in 2023.
- By product, the compression pumps segment is expected to witness the fastest rate of growth during the forecast period.
- By technology, the static technology segment held the biggest market share of 66% in 2023.
- By technology, the dynamic technology segment is expected to grow at a significant rate during the forecast period.
The compression therapy market is witnessing significant growth globally, driven by the rising prevalence of chronic diseases such as deep vein thrombosis (DVT), lymphedema, and venous leg ulcers. Compression therapy involves the use of garments or devices to apply controlled pressure to affected areas of the body, thereby improving blood circulation and reducing swelling. This therapy is widely used across various medical specialties, including vascular surgery, orthopedics, and sports medicine, to manage conditions related to poor circulation and edema.
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Growth Factors:
Several factors contribute to the growth of the compression therapy market. One key factor is the increasing incidence of chronic venous diseases and related conditions, particularly among the aging population. As the global population continues to age, the prevalence of conditions such as varicose veins and venous insufficiency is expected to rise, driving the demand for compression therapy products and devices.
Moreover, advancements in technology have led to the development of innovative compression therapy solutions that offer enhanced comfort, efficacy, and ease of use. For instance, the introduction of gradient compression garments, pneumatic compression devices, and wearable electronic devices has expanded the treatment options available to healthcare providers and patients, thereby fueling market growth.
Additionally, the growing awareness about the benefits of compression therapy among healthcare professionals and patients is driving market expansion. Increasing emphasis on preventive healthcare and the importance of managing chronic conditions early to prevent complications are further boosting the adoption of compression therapy as a part of comprehensive treatment regimens.
Region Insights:
The compression therapy market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominates the market, owing to the presence of well-established healthcare infrastructure, high healthcare expenditure, and a large patient population with chronic venous diseases.
Europe is also a significant market for compression therapy, driven by the increasing adoption of advanced medical technologies, favorable reimbursement policies, and the rising prevalence of venous disorders in the region. In Asia Pacific, the market is witnessing rapid growth due to improving healthcare infrastructure, rising disposable incomes, and growing awareness about the benefits of compression therapy among patients and healthcare providers.
Latin America and the Middle East and Africa are emerging markets for compression therapy, fueled by improving access to healthcare services, expanding insurance coverage, and the growing burden of chronic diseases in these regions.
Compression Therapy Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 6.25% |
| Global Market Size in 2023 | USD 4.58 Billion |
| Global Market Size by 2033 | USD 8.40 Billion |
| U.S. Market Size in 2023 | USD 1.51 Billion |
| U.S. Market Size by 2033 | USD 2.77 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Product and By Technology |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Compression Therapy Market Dynamics
Drivers:
Several factors are driving the growth of the compression therapy market. One of the primary drivers is the increasing prevalence of chronic venous diseases, including varicose veins, venous insufficiency, and deep vein thrombosis (DVT). These conditions are often associated with lifestyle factors such as obesity, sedentary lifestyle, and aging population, contributing to the growing demand for compression therapy products and devices.
Moreover, advancements in technology and product innovation have led to the development of more effective and comfortable compression therapy solutions. For instance, the introduction of gradient compression garments, pneumatic compression devices, and wearable electronic devices has improved patient compliance and treatment outcomes, driving market growth.
Additionally, rising healthcare expenditure, expanding insurance coverage, and increasing awareness about the benefits of compression therapy among patients and healthcare professionals are driving market expansion. Governments and healthcare organizations are also implementing initiatives to promote preventive healthcare and improve access to treatment for chronic venous diseases, further fueling market growth.
Restraints:
Despite the positive growth prospects, the compression therapy market faces several challenges that may hinder its growth. One of the key restraints is the high cost of advanced compression therapy products and devices, which may limit their adoption, particularly in developing countries with limited healthcare resources and lower purchasing power.
Moreover, issues such as discomfort, skin irritation, and difficulty in wearing and removing compression garments may affect patient compliance and limit the efficacy of therapy. Addressing these challenges requires ongoing research and development efforts to develop more comfortable and user-friendly compression therapy solutions.
Additionally, regulatory hurdles and reimbursement limitations in certain regions may pose challenges to market growth. Ensuring compliance with regulatory requirements and securing adequate reimbursement for compression therapy products and services is essential for market players to expand their presence and reach new customer segments.
Opportunities:
Despite the challenges, the compression therapy market presents several opportunities for growth and expansion. One significant opportunity lies in the development of innovative products and technologies that address the unmet needs of patients and healthcare providers. Investments in research and development to improve the efficacy, comfort, and convenience of compression therapy solutions can help companies gain a competitive edge and capture a larger market share.
Moreover, expanding market reach through strategic partnerships, collaborations, and distribution agreements can help companies tap into new geographical markets and customer segments. Targeting emerging markets with high unmet medical needs and improving access to affordable compression therapy products and services can unlock significant growth opportunities for market players.
Furthermore, the increasing focus on personalized medicine and patient-centric care presents opportunities for the customization of compression therapy solutions based on individual patient requirements and preferences. Leveraging technology such as wearable sensors and remote monitoring devices can enable real-time monitoring of patient compliance and treatment outcomes, leading to better clinical outcomes and patient satisfaction.
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Recent Developments
- In May 2020, AIROS Medical, Inc., a medical technology manufacturer specializing in compression therapy products that treat cancer-related lymphedema and venous complications, announced the launch of its updated AIROS 6 Sequential Compression Therapy device and Arm Plus garments following multiple regulatory approvals.
- In June 2022, Stryker has launched a new research & development facility in India, covering an extensive area of 150,000 square feet. The facility’s primary objective is to foster innovation within India and on a global scale, reinforcing the company’s commitment to enhancing healthcare worldwide.
- In February 2022, Therabody unveiled its latest product, the second generation of Recovery Air pneumatic compression boots. These boots feature cutting-edge technology, enabling more efficient post-recovery for users. With advanced pneumatic compression, the boots aid in improving blood circulation and reducing muscle soreness and swelling, ensuring an effective and accelerated recovery process for individuals.
- In September 2021, Arjo announced that it has received 510(k) clearance from the US Food and Drug Administration (FDA) for WoundExpress, an intermittent pneumatic compression (IPC) solution for accelerating healing of venous leg ulcers. The FDA clearance follows several recent studies showing that WoundExpress can significantly improve lower leg wound management.
- in January 2022, AIROS Medical, Inc., a designer, manufacturer, and distributor of compression therapy devices, and Fist Assist Devices, LLC (Fist Assist), an innovative medical device company, launched an e-commerce website, www.fistassistusa.com, for the sale of the Fist Assist FA-1 compression device in the United States. This will increase sales of compression therapies via online platforms, driving market growth in this region.
Compression Therapy Market Companies
- Smith & Nephew PLC
- Medline Industries, Inc.
- Cardinal Health
- Julius Zorn GmbH
- Hartmann AG
- Medi GmbH & Co.
- SIGVARIS
- BSN Medical GmbH
- Convatec Group PLC
- Bio Compression Systems, Inc.
- Stryker
- Arjo
- Tactile Medical
- Gottfried Medical
- 3M Company
- Paul Hartmann
- DJO Global, Inc.
- Juzo
- Spectrum Healthcare
Segments Covered in the Report
By Product
- Compression Pumps
- Compression Stockings
- Compression Bandages
- Compression Tape
By Technology
- Static Compression Therapy
- Dynamic Compression Therapy
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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